Sunday, June 6, 2010

Top Ten Ideas for Week of 6/7/2010

After a very interesting week here are my top ten ideas for the coming week. 6 short ideas and 4 long in no particular order. Keep in mind the market trend is lower, so longs are counter trend, be careful.

1. Genzyme - GENZ

Failure at 47.50 - 48 sees next support at 45 then 40.50 from 2004 (6 years ago - is that still valid?)

2. SL Green Realty - SLG

Going to test the 100SMA and dotted trendline, failure there sees 49.30.

3. Buffalo Wild Wings - BWLD

Going to test 35.26, failure there sees 30.90, 37.31 is resistance.

4. Chipolte Mexican Grill - CMG

Strong, if holds 142 area should see 156.

5. Electronic Arts - ERTS

A break below the 15.80 support would give a target of 10.80ish, woah!

6. Flowserve Corp - FLS

Cracking 38.2% Fibonacci retracement level, look for 80.79 next.

7. United States Natural Gas - UNG

Love this. Big break out on volume and followed next day with bigger volume. 9.35 coming.

8. United States Steel - X

Broken, 33.50 coming, get short.

9. SanDisk - SNDK

Like a salmon swimming upstream. New highs coming if holds 44.70ish.

10. VMware - VMW

Next key level is 72.87 to the upside, good support Friday.


Inverted hammer says support will hold near 180. If not then look for 157.50, resistance above is at 190.

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