Friday’s Top Stocks From TradersWire

The Nasdaq-100 Index
closed at the worst level of the day.
The index failed to take out
the 50% retracement level Tuesday and formed a bearish tail. It is now
approaching the lower boundary of a bear flag. Volume was slightly heavier than
its daily average. 

Diamonds Trust (DIA) appears to be forming a double top. It could not
penetrate the horizontal resistance line and finished near the day’s low on
increased volume. The issue may test the 38.2% retracement level.

Now, four stocks for Friday:

Veritas Software (VRTS): The stock hit the top of a channel and reversed
to the downside. Short VRTS if it slips below 24.48. Target is the February 10
low (22.85). Risk 0.5-0.75.

Novastar Financial (NFI): The issue is struggling to move above a gap
zone. Short NFI if it trades below 35.25. The initial target is 34. Risk 0.5.

Valero Energy (VLO): The stock hit a new high, but reversed and closed
poorly. Notice the 14-period RSI is showing a negative divergence. Short VLO if
it falls below 61.72. Target is the February 8 low (57.65). Risk 0.75.

Hartford Financial Services (HIG): The issue tested the 20-day MA
successfully and closed above the 38.2% retracement level. Long HIG if it takes
out 71.78. Target is the February 11 high (74.07). Risk 0.5-0.75.

T.Kamada

If you have questions, feel free to
mail
them to me.    Â