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.