Monday’s Top Stocks From TradingMarkets

  • September 10, 2004
  • Tsutae Kamada

Semiconductor HOLDRs (SMH)
followed through. It took out the 20-day MA and a declining trendline
decisively on impressive volume. The stock still has layers of resistance levels
to overcome. Needless to say, it’s not going to be easy.

Diamonds Trust (DIA) formed a bullish tail at the 200-day MA, and
Nasdaq-100 Index Tracking Stock (QQQ) closed just below the 50% Fibonacci
level.

Let’s see three stocks for Monday:

Gilead Sciences (GILD): The stock has successfully tested the bottom of a
channel and bounced off. Our first goal is the September 7 high, and the upper
boundary of the channel to follow.

KMart (KMRT): The issue is bouncing off a horizontal support line, and
looks ready to resume the uptrend.

XM Satellite Radio (XMSR): The stock formed an inside bar just above a
rising trendline. Look for a resumption of the uptrend.

Good night and see you next week.

T.Kamada

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

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