Tuesday’s Top Stocks

  • August 9, 2004
  • Tsutae Kamada

Where was everybody? Both
Diamonds Trust (DIA) and Nasdaq-100 Index Tracking Stock (QQQ)
formed an inside bar on light volume. It was truly a directionless trading day.
Remember, the Fed will be announcing interest rate policy at 2:15 P.M. tomorrow.

Now, let’s look at three stocks for Tuesday:

Chicago Mercantile Exchange (CME): Following Friday’s strong performance,
CME broke above the 50% Fib level on heavy volume. Look for a continuation of
the upward move.

Penn National Gaming (PENN): The issue looks ready to move out of a
pullback from the recent high. Wait till PENN takes out last Thursday’s close.

Lamar Advertising (LAMR): The stock could not return above the 200-day
EMA and finished near the day’s low. Look for a continuation of the downward
movement.

Good night and see you tomorrow.

T.Kamada