Thursday’s Top Stocks From TradersWire
Semiconductor HOLDRs (SMH)
staged an impressive rally. It gapped up above a declining channel
and closed near the day’s high. It was somewhat disappointing that volume was
about its daily average.
Short sellers were waiting at the upper boundary of a channel. Look at the daily
chart of Diamonds Trust (DIA). It bounced off the top and shaped a mildly
bearish tail. The Nasdaq-100 Index gained 1.23%, and appears to be trying
to fill the gap.
Now, three stocks for Thursday:
XM Satellite Radio (XMSR): The issue tested the January 10 low
successfully and formed a bullish long tail. Long XMSR if it trades above 33.29.
Target is near 34.75. Risk 0.5-0.75.
F5 Networks (FFIV): The stock finished just below the upper boundary of a
bull flag. Long FFIV if it takes out 48.72. We are looking for 50. Risk 0.5.
PacifiCare Health Systems (PHS): The issue bounced off the confluence of
the 20-day EMA and 50% retracement level. Long PHS if it moves above 59. Target
is 62. Risk 0.75-1.00.
Feel free to mail me your questions.
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