Thursday’s Top Stocks From TradingMarkets
Kmart (KMRT) is buying out Sears (S).
Can you believe it? Not just coming out of bankruptcy, but Kmart is
in fact buying out a big company! Kmart gained nearly 8%, and Sears finished 17%
higher.
Although it sold off in the afternoon, Diamonds Trust (DIA) managed to
gain 77 cents. Nasdaq-100 Index Tracking Stock (QQQ) gapped up at the
open and closed at a new 52-week high on heavy volume. It is probably
negligible, but QQQ has formed a mildly bearish tail.
Let’s look at three stocks for Thursday:
RR Donnelly & Sons (RRD): The stock is consolidating above its rising
10-day MA. Long RRD if it moves above 34.89. We are looking for 36.75-37.00.
Place a protective stop at 34.29.
Avery Dennison (AVY): The issue failed to break above a gap zone, and it
closed near the day’s low. Short AVY if it slips below 57.44. Our initial target
is 56. Place a stop just above today’s high (58.02).
Biomet Inc (BMET): The issue looks ready to resume its uptrend. Long BMET
if it takes out today’s high (47.63). Target is the November 12 high (49.50).
Place a stop just below today’s low (47.04)
Good night!
If you have questions, feel free to mail them to me.