Friday’s Top Stocks From TradersWire
What a beautiful day for
short sellers! The Dow Jones Industrial Average decisively broke down
below the lower boundary of a range and closed near the day’s low. The Nasdaq
Composite Index was as ugly as the Dow. It failed to hold above the March 29 low
and finished at the worst level of the year.
Now, four stocks for Friday:
MBIA Inc (MBI): The issue bounced off the 20-day MA and closed slightly
below the April 11 low. Short MBI if it slips below 53.75. Target is near 50.
Risk 50-75 cents.
Forest Labs (FRX): The stock is pulling back to the 50% retracement level
from the April 8 low. Short FRX if it trades below 34.28. Target is 33. Risk 50
cents.
Sealed Air (SEE): In spite of the weak market, the issue held up well. It
tested its 20-day MA successfully and managed to gain 24 cents for the day. Long
SEE if it takes out 53.26. Target is 55. Risk 50 cents.
Valero Energy (VLO): The stock is pulling back from the April 7 high and
approaching a potential support area. Long VLO if it moves above 74.50. Target
is 77. Risk 75 cents.
If you have questions, feel free to
mail them to me.