TradingMarkets Top 5 Of The Day

Welcome to Top 5 of the Day!

In this nightly feature, the editors of
TradingMarkets select the 5 best and most insightful (and sometimes humorous)
excerpts from all of the articles and blogs that have been published throughout
the entire day.

Here are today’s selections:

Chris Curran from:

This bullish pattern may be forming in the S&Ps

at the daily charts, both the ES and YM posted key reversals down and blew back
through moving average support that had been broken last week as resistance. On
an intraday basis, 60-minute head & shoulder patterns broke their necklines and
could be forming bullish Butterflies.

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Austin Passamonte from:

The market may be locked into this 3-day pattern

night was the beginning of Rosh Hashanah, which runs thru Wednesday into
nightfall. Last year we saw this three-day period stage one directional move
each morning and sideways coiling (for the most part) hence. Defined patterns
tend to repeat themselves, so we’re aware of what may be expected ahead….”
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Deron Wagner from:

is where I see potential low-risk entries

you have seen, many of the major market indices are at or near key resistance
levels. If the downtrends resume, this will present us with low-risk entry
points for new short positions on the bounce into resistance. .
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Dave Landry from:

Here’s 2nd-entry trade into a recent winner

back in mid-August when I recommended Companhia Vale Do Rio Doce (RIO)
(and I got you singing that old Duran Duran song)? Well, the stock promptly
triggered and after a day or two of false promise, it sold off to hit the stop
(based on the general rules of my swing trading primer–email me if you need a
copy). The stock then mounts the mother of all uptrends–rallying nearly 30%.
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Tim Truebenbach:

3 stocks poised for long runs to the upside

“…Even though a
confirmed uptrend remains in place, there has been very little to do or talk
about for the past few weeks. Like most corrections, sellers seem to have come
for just about every group by now. Biotech’s (BBH) were one of the last to fall,
but have since rebounded.

Historically, this
group has performed very well in a rising rate environment. Names like Amgen (AMGN),
Genzyme (GENZ)
and Celgene (CELG)
have recently broke out of bases dating back to the late-1990’s and may have a
longer run ahead of them.
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