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Tuesday, September 15, 2009 

Stock Market Ideas for Wednesday - JDS Uniphase Corporation and Melco Crown Entertainment Ltd

( click to enlarge )

The stock reversed direction at 7.73 on Tuesday after making a new 52 week high. A strong trend would not be in place unless the stock closes above this level. Long-term investors who have entered at lower levels may take partial profits and have a stop-loss at $7 for the rest. Shareholders who prefer higher risks may hold with a stop-loss at $6.6. Fresh exposures may be considered on price weakness. A close above $7.73 may be used to enhance exposures. Stay tuned on MPEL.

( click to enlarge )

There appears to be marginal downside risk on JDSU from prevailing levels. The near-term trend is bullish and a move to the 8.30-8.40 range appears likely. The overall trend appears really positive.

Other Stocks to Watch :

EGO - Eldorado Gold Corp ( Bullish Engulfing )
VRSN - VeriSign, Inc. ( Bullish Engulfing )
ME - Mariner Energy Inc ( Bullish Engulfing )
GTN - Gray Television Inc ( Bullish Engulfing )
MCHP - Microchip Technology ( Bullish Engulfing )
DVA - DaVita Inc ( Bullish Engulfing )
HRS - HARRIS CORP ( Bullish Engulfing )
SVM - Silvercorp Metal ( Bullish Engulfing )
HW - Headwaters Inc ( Bullish Engulfing )
SAPE - Sapient Corporation ( Bullish Engulfing )
TUNE - Microtune Inc ( Bullish Engulfing )
PDC - Pioneer Drilling Co ( Bullish Engulfing )
GBCI - Glacier Bancorp, Inc. ( Bullish Engulfing )
CMIN - Nordic Nickel Ltd ( Bullish Engulfing )
IOC - Interoil Cp ( Bullish Engulfing )
CYMI - Cymer, Inc. ( Bullish Engulfing )
ALGT - Allegiant Travel Co ( Bullish Engulfing )
ZEUS - Olympic Steel, Inc. ( Bullish Engulfing )
YONG - Golden Tan Inc ( Bullish Engulfing )

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 Folks. See you tomorrow...
Cheers!

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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