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Wednesday, June 18, 2008 

Stock Picks and Trade Ideas for Thursday - CSIQ, ELN, BTU, ESLR, SIRI

Chart courtesy of stockcharts ( click to enlarge )

SIRI - The stock is in a down trend since December 2007. The pattern formed resembles a descending triangle formation. This is a bearish formation and indicates that the stock can move lower over the medium term. Consider a long position once it rallies past $2.72. Major support is now at $2.36.

Chart courtesy of stockcharts ( click to enlarge )

ESLR - Made a small move up in the flag pattern, which is holding at support. Volume dropped back below average to +4 million (average 7 million). Continuing to look for the break up. Buy point on ESLR is when it breaks above $10.48 on increased volume. Money flow has trended up well since last week. In additoin we can see that the relative index is starting to perk up, which supports the thesis for higher prices.

Chart courtesy of stockcharts ( click to enlarge )

BTU - This breakout on normal volume did not convince me yet. If you're long consider putting a stop back down below the breakout level.

Chart courtesy of stockcharts ( click to enlarge )

ELN failed to hit a new high, and is now falling back to test the prior breakout level at $28.

Chart courtesy of stockcharts ( click to enlarge )

CSIQ - Looking at the daily chart above, stock broke out $48.91 to new 52 week high with a huge volume above daily average. Technicaly chart shows the stock is still in a very strong bull market with MACD on top of signal line and 50 day moving average on top of 200 day moving average, so we should see the stock keep going strong for a while.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. Have a nice day !!!

AC

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did you saw last new of ESLR
600M contracts just announced
stock at 11.70 and will soar after upgrades to $ 22 in 2 monthes

Sure !!!

I'm looking for a breakout over $12 tomorrow morning !!! Keep an eye on her !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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