Picks
for October 23, 2009
|
STOCK
|
RESISTANCE
|
STOP
|
TARGET
|
|
NTAP
|
$29.18
|
$29.08
|
$32.00
|
|
NVAX
|
$ 4.33
|
$ 4.23
|
$ 6.00
|
|
PALM
|
$15.88
|
$15.78
|
$18.00
|
|
PAYX
|
$29.11
|
$29.02
|
$32.00
|
NTAP RESISTANCE LEVEL - $29.18
NTAP is sitting in a 5-day
range and could make a breakout move soon.
The high of this range is $29.18, which is resistance for this upside
move. We are buyers of NTAP once it
breaks this level and expect to see a strong push higher. You want to watch NTAP very closely because
this stock will move quickly as it starts to break resistance. There could be good upside here, so keep NTAP
on your radar for Friday.
NVAX RESISTANCE LEVEL - $4.33
NVAX traded heavy volume on
Wednesday as the stock ended up $.30 on the day. The stock hit a high of $4.33, which is
resistance for Friday’s continuation move.
We will watch NVAX closely on Friday and we will be ready for this
possible move. NVAX can be a great
trading stock, but it moves very quickly once the stock starts to move. You need to watch this one closely and be
prepared for this upside move.
PALM RESISTANCE LEVEL - $15.88
PALM looks to have found support over
the past three trading days. The stock
has traded in a tight range and looks ready to make a reversal move. Resistance for this move is $15.88, which
reflects Thursday’s high and the top of this range. If PALM can break through resistance, we
should see a fast upside move. Keep a
close eye on PALM for Friday’s trading day.
PAYX RESISTANCE LEVEL - $29.11
PAYX looks very interesting
for a breakout move on Friday. The stock
has been trading in a channel the past three weeks and is ready to make an
upside move. The high of this channel is
$29.11 and is resistance for this move.
We are buyers of the stock once it breaks through this range high. There could be good upside here, so watch
PAYX closely on Friday.
STOCKS FROM OCTOBER 22, 2009
|
Stock
|
Buy ($)
|
Sell ($)
|
P/L ($)
|
% Gain
|
|
BMRN
|
NT
|
|
|
|
|
CHINA
|
NT
|
|
|
|
|
NVAX
|
NT
|
|
|
|
|
QLGC
|
NT
|
|
|
|
|
|
|
|
|
|
|
Today
|
|
|
$0
|
-
|
|
Month-to-Date
P/L October 2009
|
|
|
$580
|
4.02%
|
|
|
|
|
|
|
|
Year-to-Date
P/L
|
|
|
$8,110
|
51.75%
|
*Percentages are based on Percent Gained/Lost
per Trade accumulatively
BMRN – No trade. Stock broke resistance too late in the day
for us to buy this move. Plus, the overall volume was just over 1 million
shares, which was another reason not to buy this move.
CHINA – No trade. Stock did not break resistance.
NVAX
– No trade. Stock did not break
resistance.
QLGC
– No trade. Stock broke resistance and ran
straight up for the first 20+ minutes of the morning, hitting highs of the day
at this time.
