Sunday, June 13, 2010

Top 10 Ideas For the Week of June 14, 2010

The weeks just keep getting more interesting. This week there were not so many ideas to choose from. Here are 6 short ideas, 2 long ideas, and 2 could go either way, in no particular order. Keep in mind the market appears that to be at key resistance/support levels (except Nasdaq, see earlier post). Be attentive and ready for anything.

1. Chipotle Mexican Grille - CMG

Marching to 156.07 a retest of December 2007 All Time High (ATH), with support from a tightening 50SMA.

2. Sears Holdings - SHLD

Needs to get through 76.80 on the downside for a run to 70, 83.27 is resistance above.

3. Whole Foods Markets - WFMI

Diamond Top? 30 coming on a break below 37, with stops at 34.50, 31.7 along the way.

4. Whirlpool - WHR

Prepping for another move. A break out higher has a target of 123, lower has the target at 67.

5. Dendreon - DNDN

Holding the 100SMA but looking like a bear flag with declining volume. The target on break of the 100SMA is 32.33.

6. Express Scripts - ESRX

Above 53 can run but watch the shooting star Friday, it is a bearish sign and could push to bottom of channel.

7. RINO International - RINO

In a descending triangle, if gets under 11.19 it likely sees 8.25.

8. Apple - AAPL

A symetrical triangle is forming with a congestion area inside between 250-255. Breaking the trend (either way) sees 270 as resistance or 230 as support.

9. Mastercard - MA

Current level tentatively supports long positions to 215. Above that looks good to be all in to 232. Support below is at 195.

10. Goldman Sachs - GS

Next support is at 127 then 119.48.

BONUS IDEA: Callon Petroleum - CPE

Breaking above a symetrical triangle. Looks good for a run if can clear 50SMA at 6.02, target 7.25.

Some of these may take a while to reach their target, specially WFMI and AAPL. Trade'm well this week.

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