Friday’s Top Stocks From TradersWire

  • June 9, 2005
  • Tsutae Kamada

Carmax Inc (KMX)
hit our target price, and we covered 80% of our short position.
Intel (INTC) staged a recovery rally, and it gave us an opportunity to take
a partial profit. Needless to say, we raised our stop to breakeven.

The Nasdaq Composite index tested its 20-day SMA (simple moving average)
successfully and escaped three consecutive losing sessions. On the other hand,
the Dow Jones Industrial Average is still trapped in a trading range just above
the 200-day SMA.

Now three stocks for Friday:

Sina Corp (SINA): The issue bounced off the 200-day SMA and formed a doji
bar (open=close). Buy SINA if it takes out 30.16. We are looking for near 32.
Risk 75 cents.   

Yahoo! Inc (YHOO): The stock tested the 50% retracement level
successfully and finished strongly. Long YHOO if it trades above 37.50. The
initial target is near 39. Risk 0.75.

Select Comfort Corp (SCSS): The issue may be ready for a minor recovery
rally. It shaped an inside bar just above a declining support line. Long SCSS if
it moves above 22.05. The initial target is the 20-day SMA (near 23). Risk 40
cents.  

Feel free to mail me your
questions.