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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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  • 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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