How Will The News Affect These 2 Stocks?
Imclone
(
IMCL |
Quote |
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News |
PowerRating) announced that it is restating its financial results
going back to 2001, and possibly earlier, to reflect tax liabilities associated with the stock options of former Chief Executive Samuel Waksal. On the 30-minute
chart, this news is shown as a gap down, creating an island. If this gap isn’t
filled, the stock will probably go lower from here and may be a good swing trade
short on any rallies.
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Halliburton
(
HAL |
Quote |
Chart |
News |
PowerRating) is quite possibly another swing trade short sale
candidate. The Agency for International Development (AID) on Friday said that
Halliburton was no longer in the running for receiving a government contract to
rebuild Iraq. The stock gapped down this morning, often a clear sign of a
break of the current trend. The safer entry would be a clear setup on any rally.
Have a good afternoon.
Brice Wightman
PS If you’d like to send a message to one of
our troops, you can do it here.