Monday’s Top Stocks From TradersWire

Sina Corp (SINA)
took out Thursday’s high
immediately after the open, but it could not
sustain its momentum. The stock closed unchanged and formed a doji bar (open
price=close price).

In spite of yesterday’s strong finish, the Nasdaq Composite index could not
follow through to the upside. Although it was somewhat disappointing, the index
still managed to close above the rising 20-day SMA (simple moving average).

The Dow Jones Industrial Average bounced off the lower boundary of a range and
finished above 10500.

Now three stocks for Monday:

Kos Pharmaceuticals (KOSP): The issue is testing a support line after
pulling back from the June 3 high. Long KOSP if it takes out 57.45. We are
looking for near 59.50. Risk one point. Of course, it may not be acceptable at
all for some of you to risk 1 point. Remember this report is written as a
guideline. Please set stops where you are comfortable with.

Archipelago Holdings (AX): The stock formed an inside bar just above the
support level. Often an inside bar signals a directional change. Long AX if it
trades above 36.75. The initial target is 38. Risk 50 cents.

First Marblehead (FMD): The issue is approaching the resistance level
from the June 2 low. We are looking for a resumption of the downtrend. Short FMD
if it moves below 37.15. The initial target is 35. Risk 75 cents.

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

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