Tuesday’s Top Stocks From TradersWire
Four consecutive losing
sessions for the Nasdsaq-100 Index and Diamonds Trust (DIA). The
Nasdaq-100 lost 1.5% of its value and closed at the day’s low. The 200-day
SMA (simple moving average) is only inches away. DIA finished poorly, but
it managed to hold above the upper boundary of a gap zone.
Where are the buyers? What would motivate people to buy stocks gain? We have two
economic reports at 10:00 AM on Tuesday, Existing Home Sales for December
and Consumer Confidence for January. Can they be good enough to provide a
Now, three stocks for Tuesday:
American Pharmaceutical Partners (APPX): The stock may still need to test
the January 11 low, but this is a potential swing buy situation. Long APPX if it
takes out 50.84. The initial target is near 53. Risk 0.75-1.00.
Phazar Corp (ANTP): The issue tested the January 18 low and formed a
mildly bullish bar. Long ANTP if it moves above 29.38. We are looking for 32.50.
Risk one point.
Abbott Laboratories (ABT): The stock has been testing a horizontal
support line. Long ABT if it trades above 46.49. Target is 48. Risk 0.5-0.75.
Feel free to mail me your questions.