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Thursday, July 31, 2008 

Stock Picks and Trade Ideas for Friday - YHOO, JDSU, RIMM, QCOM

Chart courtesy of stockcharts ( click to enlarge )

QCOM is one of the hottest stocks in the market right now. The stock is looking good and looks set to break into new highs, but if prices pullback, the $54 level is a possible area for them to be supported at. All indicators still point to a bull market. The technical daily chart above shows the stock is now in a very strong upward momentum as both 50 day and 200 day moving averages are going up along with the stock. MACD and KD also shows the stock is currently in a bull market. For now the trend is still up.

Chart courtesy of stockcharts ( click to enlarge )

Very bullish action on RIMM this week. The stock firmed around 112-119 and then broke out with three days of high volume. Further strength above $126.45 ( 50 dma ) opens the door to $140. Put her on your radar.

Chart courtesy of stockcharts ( click to enlarge )

JDSU reversed at the down-trend line and looks to be heading down towards support ($10.60-$10.80 range). Also keep an alert on the upside at the down-trend line ($11.30-$11.35 area).

Chart courtesy of stockcharts ( click to enlarge )

One of the most important days for Yahoo shareholders is coming. On 1st of August there is an Annual Shareholders meeting which also includes a vote for the new Board. Finally it comes the time where shareholders will be able to decide if they want to elect Icahn's board or stay with the current Yahoo board. This day definetively will mark the future of the company and the whole strategies behind a possible Microsoft deal. As I mentioned several times here, Microsoft is constantly losing a lot of money with its online services and if they are really interested to gain the scale necessary to compete with Google, Yahoo is without no doubt the best option for company, is profitable, something that Microsoft knows. Remember, if there is no deal with Yahoo, Microsoft will need many years to revamp its online services while Google continues to grow, and I don’t think the Microsoft Chief Executive Officer Steve Ballmer is able to lose so much time. Keep in mind : The Deal Isn’t Dead !!! Frankly speaking I also think the Yahoo's deal failure is priced into the stock at current levels.

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. See you Tomorrow !!!

AC

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21:06 | |

Wednesday, July 30, 2008 

Stock Picks and Trade Ideas for Thursday - RFMD, RMBS, CIEN

Chart courtesy of stockcharts ( click to enlarge )

RMBS - Recently the stock has been on rally after the company announced its earnings. Even today the stock surged 3% to $16.78 cents per share. Let's take a detail look at the stock to see if it's worth buying. The stock overall is still weak with 50 day moving average now below 200 day moving average, however looking closely at daily technical chart above in a short term basis ,we can clearly see it shows the stock has been on rally recently as K line has been rising above D line. Now that MACD is back above 0 and RSI is in an upward direction, we may should see the stock head to $18 mark soon.

Chart courtesy of stockcharts ( click to enlarge )

CIEN - If the weakness continues and the stock breaks the support at $20, there will be a good chance that the stock will test the $19.30 support.

Chart courtesy of stockcharts ( click to enlarge )

RFMD - I have mentioned several times this stock over the last weeks, analysing the stock based on the technical chart as one of the stocks is a clear downtrend. However, yesterday after the market closes the company have surprised all of us with earnings above the estimative of the street, which has caused a huge rally early in morning that roll over today’s session. According to the report, RF Micro posted a net loss of $24.1 million, or 9 cents a share for the first quarter ending June 28, compared with net income of $23.6 million, or 11 cents per share, a year earlier. Revenue rose nearly 14 percent to $240.5 million. Excluding items, it earned 3 cents a share. It’s also important to note, that company forecast a second-quarter profit that was a cent below market expectations. Nevertheless, today’s action in the share price leads me to believe that we may see a reversal trend at this level. To sustain this point of view, stock needs to sustain actual level in the days to come, so stay tuned to her. A close above $3.40 will give us the perfect signal for a strong upward.

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. See you Tomorrow !!!

AC

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19:07 | |

Tuesday, July 29, 2008 

Stock Picks and Trade Ideas for Wednesday - YHOO, PMCS, BUCY, XL, RIMM

Chart courtesy of stockcharts ( click to enlarge )

PMCS is still holding support AT $7 but at the same time has not bounce very strongly here. A break below $6.98 area will likely be bearish for stock, on the other hand a close above $7.85 on heavy volume will launch a rally.

Chart courtesy of stockcharts ( click to enlarge )

BUCY - The stock has resistance at $72.50. If the stock is able to cross this level and sustain above it, then it might go to $75 and then even to $79.52. The technical chart shows positive sign as the stock is back above both 50 day and 200 day moving averages. Rising KD should continue to carry the rally. Stay tuned on her.

Chart courtesy of stockcharts ( click to enlarge )

XL - The stock has a strong support at $17.50. If the stock breaches this level on a close basis, then it might decline to $15.95. Support after 2.95 is at $14.61. However, if the stock sustains above its $17.50 during some sessions, then it may go to $20. The stock is currently in a downtrend.

Chart courtesy of stockcharts ( click to enlarge )

RIMM - The stock rallied in mid of July and then consolidated. Watch $119.60 up and $110 down.

Chart courtesy of stockcharts ( click to enlarge )

YHOO - It becoming a stressful situation to hold shares of Yahoo at this moment. The stock has been under a strong manipulation shaking every time any news comes out. I start getting frustrated with all commentaries that many speculators have used for gaining popularity and making money with the fluctuation of the share price. I have to admit that I still holding my shares, just due to the high level of inflow money that this stock still showing, it’s a signal that the big boys are not selling just increasing slowly the long position. If you look closely to the latest movements in the stock, the volume has been too small for a stock like this, with a 28 Billion of capitalization. No one knows the future of the stock, but one thing is completely truth, Microsoft will not gain market share to Google in the years to come without Yahoo.

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. See you Tomorrow !!!

AC

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21:16 | |

Monday, July 28, 2008 

Stock Picks and Trade Ideas for Tuesday - AKNS,TTEK,SIRI, RFMD,SOHU

Chart courtesy of stockcharts ( click to enlarge )

SOHU has good support at $75.83. If it falls below this level, then it can possibly go down to $67 area. Looking at the daily chart, it shows positive signs as 50 day moving average is on top of 200 day moving average with stock trading above both moving averages. MACD also show bullish signal as MACD is above signal line. However ROC and KD are somehow weak as ROC is at overbuy level and K line drops below D line. So, the perfect buy point is now a move above $85 on above average volume.

Chart courtesy of stockcharts ( click to enlarge )

TTEK - Support for Treta Tech exists at $24 and if this support is also broken than the stock is going to touch the level of $22.

Chart courtesy of stockcharts ( click to enlarge )

RFMD - RF Micro Devices will face the resistance on upside at $3 and on the lower side stock will face support at $2.80 and if this level is broken than the stock is in bearish grip and may achieve $2.6 target. Stock has immediate target of $2.80 on downside and if this level is broken then support exists at $2.52 and if this support is also broken then get ready for unbelievable target of $2.

Chart courtesy of stockcharts ( click to enlarge )

SIRI - If its support of $1.80 is broken on a close basis then the chances of stock touching the level of $1.50 becomes high.

Chart courtesy of stockcharts ( click to enlarge )

AKNS - The stock has a strong support at $4.30. Hold with a stop-loss at $4.30. If stock breaks this level then the stock can head to $4 and if this level is breached then the level of $3 is visible.

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. See you Tomorrow !!!

AC

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18:10 | |

Friday, July 25, 2008 

Stock Picks and Trade Ideas for the week ahead - BIDU, TRN, JNPR, RMBS

Hey everybody I’m back from my holidays, what a fantastic time. If you ever have a chance, go to Disneyland Paris with your Childs. Worths a visit. I also went to see the Eiffel Tower and other famous landmarks of the capital. France is a wonderful country with such friendly people. I had a really lovely time with my family there. Now it’s time to back to work again.

Chart courtesy of stockcharts ( click to enlarge )

Juniper shares surged 17% after the maker of networking equipment reported strong earnings. The stock had slumped about 40% since peaking at a six-year high last October. In addition to the strong earnings report, the company named a new CEO on Thursday, replacing long-time chief Scott Kriens, who will more into the chairman role at the company. Looking at the daily technical chart, it shows that JNPR declined substantially during June, and then consolidated forming an inverted head and shoulder pattern. On Friday, the stock broke out from its neckline on relatively high volume, the neckline breakout was accompanied by a bullish Stochastics crossover in oversold territory. Based on today's action, I expect to see the stock move up in the next coming weeks. Technically I'm bullish on the stock.

Chart courtesy of stockcharts ( click to enlarge )

RMBS - After declining for a month, RMBS moved up strongly after earnings report on Friday, suggesting a possible reversal. The reversal seems especially likely to continue. In addition to the bullish price action, volume was very strong, there was a bullish Stochastics crossover in oversold territory. Stay tuned on her.

Chart courtesy of stockcharts ( click to enlarge )

BIDU - Baidu.com reported good earningson thursday and shares react positively. The stock has been trading in a range of $161-$429 in the past 52 weeks. Looking at the technical daily chart above it shows a new rally is about to begin as K line has just crossed on top over D line as the stock is again back above 50 day moving average. In addition since ROC has began to rise from oversold level there is plenty of upside for the stock. Let's keep an eye on BIDU.

Chart courtesy of stockcharts ( click to enlarge )

TRN - Previous support now offering a strong resistance. In the last trading sessions, the stock found resistance at around $37 and declined. The technical chart shows the stock has just entered the bull market as the 50 day moving average has crossed on top over 200 day moving average in early June to form Golden Cross, a very bullish signal. However KD shows weak signal as K line is below D line. Therefore a better time to buy would be to wait for K line to rise back up again above D line or buy stock only if the stock moves above $37 with tight stop loss.

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. See you Monday !!! Enjoy your weekend !!!

AC

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21:18 | |

Saturday, July 19, 2008 

AC Investor in vacations

Hi traders! AC is on well deserved holidays with his family at Disney World!
Soon he will back with new tips and fresh market news!

V.F.

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19:55 | |

Thursday, July 17, 2008 

Stock Picks and Trade Ideas for Thursday - BRCM, CSCO, RMBS, FSLR

Chart courtesy of stockcharts ( click to enlarge )

FSLR has had a hard time with resistance here, but may be ready to move higher. The level which the stock may have trouble moving above, is today at $292.88. It would need to break above that level to run to $317. The technical chart shows the stock is rising as K line is on top over D line showing buy signal. However unless the stock can break above $292.88, don't expect too much going from the stock.

Chart courtesy of stockcharts ( click to enlarge )

CSCO - On a technical basis the stock is still in a downtrend despite the pop in price on today's session. Resistance, the level at which a stock may have trouble moving above, is today at $21.33 (high so far today), then at $21.50 and then the upper limit of the current bearish channel which is today at $21.65. It would need to break above that level to change the bearish trend.

Chart courtesy of stockcharts ( click to enlarge )

BRCM has consolidated around 25-29.50 for the last two months and a break above 29.75 on heavy volume would be bullish. The technical chart above shows positive sign as stock has been trading above 50 and 200 day moving averages. In addition with MACD above 0 and KD going up the stock is probably ready for a new rally. Stay tuned.

Chart courtesy of stockcharts ( click to enlarge )

RMBS is starting to show signs of accumulation with upside days and low downside days. Looks like Rambus confirmed support here and may get a bounce.

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. See you Tomorrow !!!

AC

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09:12 | |

Tuesday, July 15, 2008 

Stock Picks and Trade Ideas for Wednesday - C , AMD, FSLR

Chart courtesy of stockcharts ( click to enlarge )

FSLR - First Solar is doing relatively well considering the market's condition. The stock has held its recent gains quite well and closed above its 50-day moving average for the third consecutive session. Even though the stock is up around 20% in a few weeks, the bears do not have a leg to stand on as long as $234 holds. On the other hand any close above the resistance level of $292.88 could trigger a buy signal and I suggest buying at that time. Looking at the daily chart above it shows positive sign as stock has been trading above 50 day moving average. In addition with KD going up the stock is probably ready for a rally. Stay tuned on FSLR.

Chart courtesy of stockcharts ( click to enlarge )

AMD - The stock is firming near the lower trendline of a falling price channel. After a sharp decline last Wednesday and Thursday, the stock firmed over the last three days. A move above $5 would recoup broken support. This would be short-term bullish. The stock needs to break $5.15 to revive the bulls.

Chart courtesy of stockcharts ( click to enlarge )

C - The stock has a negative technical profile. Citigroup continues to be weak and the intermediate trend is down. The stock broke support at $16.25 yesterday and still trading below its major moving averages. Technical action yesterday was sufficient to push the stock down to new lows on today's session. Looking at the daily chart, the MACD continues below its signal line, showing a clear evidence of a Bearish trend. In addition, RSI is less than 30 indicating that the stock is oversold. However an oversold stock doesn’t mean that the stock will rebound strongly.

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. See you Tomorrow !!!

AC

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21:02 | |

Monday, July 14, 2008 

Stock Picks and Trade Ideas for Tuesday - JAVA, AAPL, APOL, MRVL

Chart courtesy of stockcharts ( click to enlarge )

MRVL formed a falling price channel correction over the last two weeks and a move above $16.20 would be bullish. The technical chart shows possibility of new rally as the stock bounced up after dropping back to 200 day moving average. In addition K line has just crossed on top over D line showing buy signal as ROC is at oversold level. Stay tuned on her.

Chart courtesy of stockcharts ( click to enlarge )

APOL rallied early in July and then consolidated. Watch $56 up and $52 down. Important note to consider : K line is falling below D line, generally a bearish signal.

Chart courtesy of stockcharts ( click to enlarge )

AAPL - Buy the stock only when it moves beyond the resistance level of $180.26 on a close basis ( 50-day moving average ).

Chart courtesy of stockcharts ( click to enlarge )

JAVA - Daily chart above shows that it is still to early to say that the downtrend has ended. According to the technical chart, shares of Sun Microsystems have been trading below both 50 day and 200 day moving average, a very bearish sign. Negative MACD also indicates that the stock is a sell. Please beware of the KD line which is now at 14 and could signal a buy when it begins to rise.

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. See you Tomorrow !!!

AC

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21:45 | |

Saturday, July 12, 2008 

Stock Picks and Trade Ideas for Next week - AMAT, INTC, QCOM, KLAC

Chart courtesy of stockcharts ( click to enlarge )

KLAC - This weeks price action suggests that we have some kind a bottom around $35. Currently the stock is trading in a basic technical analysis pattern known as the “downtrend channel”. The daily chart shows that KLA-Tencor share price is in a downtrend with a possible breakout around $41. It has tested that level Monday but failed to stay above the $41 mark. There is nothing positive about the technical chart. All other indicators still point to a bear market.

Chart courtesy of stockcharts ( click to enlarge )

QCOM has just tested its medium-term uptrend line support at $44 and rebounded. Further test of this uptrend line is possible. If the uptrend line is not violated, this could be a good entry to a solid stock, which is trading at a PE of 23.35 times. The technical chart shows the stock is in a very strong upward momentum as both 50 day and 200 day moving averages are going up along with the stock. MACD and KD als shows the stock is currently in a bullish market. Based on the technical indicators I expect a move up to $50.81 in the coming sessions.

Chart courtesy of stockcharts ( click to enlarge )

INTC - Intel has a mixed technical chart at this point. The stock broke support at $21.79 early this month and broke below its 50 and 200 day moving averages. Next support is at $19.38. Intermediate trend remains neutral. Short term momentum indicators such as MACD, RSI, Stochastics are substantially oversold, but not yet show signs of a recovery. It is tempting to go long, but staying away is far better than losing some money !! Wait for a clear confirmation.

Chart courtesy of stockcharts ( click to enlarge )

AMAT -Support has been broken which suggests further losses. The stock is now extremely oversold and any pull back will attract new shorts. Use the support level that was broken as resistance for your new stop-loss point on the short.

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. See you Monday for more Trade Ideas !!!

AC

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21:09 | |

Friday, July 11, 2008 

Stock Picks and Trade Ideas for Friday - GOOG, LDK, FSLR, RMBS, AAPL

Chart courtesy of stockcharts ( click to enlarge )

AAPL is sitting under resistance at $180.91. The stock needs to break this resistance or will revisit the $165 area soon. Watch for high volume and relative strength/weakness before you jump on board.

Chart courtesy of stockcharts ( click to enlarge )

The activity in Rambus options has been heavy in recent days. It appears that investors are positioning for a move higher, possibly in anticipation of a favorable court ruling regarding an injunction against Hynix Semiconductor. There are a lot of people buying calls, betting that the injunction decision will be a positive for the stock. As I mentioned here several times, I still holding my long position waiting for the final veredict.

Chart courtesy of stockcharts ( click to enlarge )

FSLR surged to trendline resistance with good volume and a break above $282 on a close basis would be quite bullish. However at this time the stock is still trading below both 50 day and 200 day moving average showing weakness on the stock. In addition, falling MACD below 0, also indicates bearish trend. The only possible positive indicator that chart shows is KD which still rising.

Chart courtesy of stockcharts ( click to enlarge )

LDK was just one small step of closing back above the $35 prior support, now resistance level. Volume was above average yesterday. The buy point is when price clears the resistance line and volume expands to take the stock higher.

Chart courtesy of stockcharts ( click to enlarge )

GOOG rallied back to resistance on low volume, formed a bearish engulfing and broke trendline support. Looking at the daily chart above there is nothing positive, except KD which is now rising. All other indicators still point to a bear market and a possible move down.

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. See you Tomorrow !!!

AC

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09:04 | |

Wednesday, July 09, 2008 

Stock Picks and Trade Ideas for Thursday - TQNT, CEL, GE, NVDA

Chart courtesy of stockcharts ( click to enlarge )

Looking for the latest news from Wall Street regarding NVDA , it looks like many people grabbed the recent drop in share price to put their money working on the long side in this baby, probably thinking like myself that this could be the best opportunity for Intel to buy NVDA. Yes, I’m not joking but I remember rumors that circulated in the market during weeks or even months that are now stronger due to the recent devaluation. Wall Street Journal reported yesterday that NVIDIA topped the list in late trading on Tuesday for Buying on Weakness, which tracks stocks that fell in price but had the largest inflow of money. I think analysts have significantly underestimated the real value of this company that has more than 1.6 Billion in cash, no debt and a huge potential to still growing. Now looking at the daily chart the picture is not good, but is clear that the selling pressure is declining along with the volume. Short term momentum indicators, such as MACD, RSI and Stochastics are substantially oversold but have yet showed technical signs of a recovery, which can lead soon to a powerful rally in response.

Chart courtesy of stockcharts ( click to enlarge )

GE - The stock failed to cross its major resistance of $28.38 which would serve as an immediate barrier. On the lower side, the stock has broken its first support of $27.20 on a close basis and thereafter a major support lies at $26.15. I would probably wait for a clear confirmation of this break, before going short again. Stay tuned on General Electric.

Chart courtesy of stockcharts ( click to enlarge )

Shares of CEL continue to surge, hitting a new 52 week high of $37.05 on Wednesday. I think the stock should sustain the current trade activity in a potentially upside move, based on CEL's new near-term stochastic reading.

Chart courtesy of stockcharts ( click to enlarge )

TQNT is bouncing off the 200sma.

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. See you Tomorrow !!!

AC

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21:27 | |

Tuesday, July 08, 2008 

Stock Picks and Trade Ideas for Wednesday - NVDA, TRN, LDK, LVLT

Chart courtesy of stockcharts ( click to enlarge )

LVLT - The stock moved further downwards to the low of $2.58. It is possible that support may be available at this level, before the GAP. If this level becomes a support, it is interesting to note that the RSI and MACD is still creating higher lows. By the MACD alone, we could infer that there is accumulation going on at this stage as the MACD has lately been creating higher lows. On the other hand, RSI is now climbing above 30, which is generally a good sign to enter long for a short trade. A decent rebound could send the LVLT to $3.12. Along the way, it would encounter resistance in the psychological level of $3. Stay tuned on her.

Chart courtesy of stockcharts ( click to enlarge )

LDK - From the above chart patterns, it looks like a head and shoulder formation with a neckline around $30. A reversal at or below $30 would validate the chart pattern and then I will consider a short on the break of the neckline. But until that happen I remain flat, waiting for confirmation.

Chart courtesy of stockcharts ( click to enlarge )

TRN has made a huge decline the past weeks and looks like a strong squeeze could be in play as price has reacted very well to its 200 day moving average. Looking at the daily chart price is forming a nice base which could possibly breakout to the upside and accelerate towards the resistance at $34.70. Keep your eye on this for tomorrow.

Chart courtesy of stockcharts ( click to enlarge )

NVDA shares still being under pressure as consequence of the profit warning reported last week. The stock continues being a victim of the bad environment in the tech sector that clearly are penalizing all companies more vulnerable of a possible global slowdown. I still reading a lot of comments given by some credible analysts regarding the actual share price of this stock and the extreme drop that has suffered, however there is no indications yet that the bottom has started to be formed, but I still believe in a rebound from this level due to the high oversold conditions. NVDA seems to me a perfect bargain at this level.

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. See you Tomorrow !!!

AC

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20:43 | |

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  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 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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