Monday’s Top Stocks From TradersWire
Just before the opening
bell, Pfizer (PFE) dropped a bomb. The company said one Celebrex
study indicated increased cardiovascular risk. PFE gapped down on extremely
heavy volume. Shortly before 10:00 AM, the issue hit 21.99. It was almost 24%
below yesterday’s closing price. By the way, if you bought the stock at 21.99,
call me (LOL). I want to know your trading method. Of course, the gap is still
wide open, but PFE closed near the high of the day.
Diamonds Trust (DIA) opened lower because of PFE, but it managed to
finish above a support line. Nasdaq-100 Index recorded three consecutive
losing sessions. As you can see below, its uptrend is intact.
Now, three stocks for Monday:
CBRL Group (CBRL): The issue is pulling back from the December 14 high on
decreasing volume. We are looking for a resumption of the uptrend. Long CBRL if
it takes out 41.70. Target is 43. Place a stop just below today’s low (41.23).
Electronic Arts (ERTS): The stock is forming a bull flag. Long ERTS if it
moves above 60. The initial target is 62. Risk 0.75-1.00.
DR Horton (DHI): This trade is based on the weekly chart. DHI formed a
bearish bar just above the upper Bollinger Band. It may be forming a top. Short
DHI if it slips below 38.94. Target is 36.50. Risk one point.
If you have questions, feel free to mail them to me.
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