Monday’s Top Stocks From TradersWire
It was a nightmare just
before Christmas. Adolor Corp (ADLR) said the results of a
Phase III trial of Alvimopan did not show significant improvement
compared with the placebo. The issue lost almost 50% of its value instantly at
the open. Trading volume was super heavy, nearly 50 times the daily average.
ADLR closed at 8.78, down 7.41.
As we expected, it was a quiet trading session today. Remember, you have only
one more day left for Christmas shopping. Diamonds Trust (DIA) gained
0.12% and finished at a 52-week high again. I don’t think I should pay too much
attention to it, but the issue has formed a mildly bearish tail. Nasdaq-100
Index was directionless. It shaped a narrow range bar above the 20-day EMA.
Now four stocks for Monday:
Computer Sciences (CSC): The issue is testing its 20-day EMA and looks
ready to resume its uptrend. Long CSC if it takes out 56.32. Target is near
57.60. Risk 0.5.
Affymetrix (AFFX): Like CSC above, the stock may be attempting to rally
out of a pullback. Long AFFX if it trades above 35.56. Target is near 37.50.
Risk 0.75-1.00.
CuraGen Corp (CRGN): The issue is bouncing off the bottom of a trading
range. Long CRGN if it moves above 7.24. Target is the top of the range
(7.70-7.90). Risk 0.2.
Kos Pharmaceuticals (KOSP): The stock failed to break above a gap zone.
Short KOSP if it slips below 37.65. Target is 35. Place a stop just above
today’s high (38.50).
If you have questions, feel free to mail them to me.
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