Thursday’s Top Stocks From TradersWire
Did you buy Travelzoo (TZOO)
at the close yesterday? If you did, I would like to know how you made
that decision. As you can see below, the stock is in a persisting downtrend and
finished at a new 6-month low Tuesday. Again, what was the reason you longed the
stock? Â
This morning, before the open, Travelzoo was upgraded to Net Neutral from
Net Negative by Susquehanna Financial. TZOO exploded and formed a wide range bar
on extremely heavy volume.
Research in Motion (RIMM) took out our buy stop price (75.30) and closed
at 77.12, up 3.92. We sold half of our position with a 1-point gain and moved
stop to 76.30 for the remaining shares.
The Dow Jones Industrial Average gained 1.29% and shaped a bullish bar just
above the 200-day SMA. Volume was slightly lighter than Tuesday’s level. The
Nasdaq Composite Index re-crossed above the 200-day SMA and took out a declining
trendline. Like the Dow Average, volume could not exceed yesterday’s level.
Now, three stocks for Thursday:
Morgan Stanley (MWD): The issue formed an inside bar at the support
level. Long MWD if it moves above 55.60. We are looking for 58. Risk 50 cents.
Jabil Circuit (JBL): The stock looks ready to break out of a flag. Long
JBL if it trades above 28.45. Target is near 30. Risk 0.5.
Walter Industries (WLT): The issue successfully tested the 50%
retracement level and closed at the day’s high. Long WLT if it takes out 41.90.
Target is 44.75. Risk 0.5.
T.Kamada
If you have questions, feel free to
mail them to me.