Stock Picks for Thursday - Basic Energy Services , Rambus and Curis

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CRIS broke out on Wednesday and made a new 52-week high of $3. I am keeping CRIS on the list for the continuation move. The stock had big buyers in it all day and looks ready to make another move on Thursday. The daily chart shows a continuation of the trend with MACD and RSI in the Bullish areas. Watch the stock closely tomorrow and once it breaks $3, get ready to jump in and buy the stock.

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RMBS is starting to make a move to break through the top of its range. The stock has traded between $16-19 since late July. RMBS has been under accumulation as shown by its accumulation/distribution ratio and MACD just crossed above the half-way mark, both are a sign of an impending move. In addition, KD line is indicating upward swing. If this chart does what is supposed to do, it will be going higher in the weeks to come.Another interesting fact that caught my curiosity was the unusual options activity in stock over the day. If you go out to the December 2009 options expiration contracts, you will see that nearly 2409 contracts have been traded in the Dez 09 $20 CALLS. This leads me to believe that investors are really convinced that stock will break the major resistance very soon. This is a good stock to watch and once it breaks through $19.20 on close basis, the stock should move. Good luck.

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BAS closed the day very strong, trading 3x normal daily volume and closing near highs. The way the stock closed on Wednesday, leads me to believe there is a buyer in the stock. If BAS can break through Wednesday’s high of $7.46, I am a buyer of the stock. There will be some resistance at the $7,52 level, but the stock should go through and trade up to $7.74. Insiders are buying the stock again.

Other Stocks to watch - ( Pattern is Bullish Engulfing )

LVLT - Level 3 Communications
TSM - TAIWAN SEMICONDUCTOR
BSX - BOSTON SCIENTIFIC CORP
SQNM - Sequenom, Inc.
TGT - TARGET CORP
MDT - MEDTRONIC INC
HST - HOST MARRIOTT CORP
MET - METLIFE INC
JCP - PENNEY J C CO INC
CAR - Avis Budget Group Inc
ACL - Alcon Inc
CAH - CARDINAL HEALTH INC
KSS - KOHLS CORP
MPS - MODIS PROFESSIONAL
LPX - LOUISIANA PACIFIC CORP
MF - MF Global Ltd
PFG - PRINCIPAL FINANCIAL
HOG - HARLEY DAVIDSON INC
CF - CF INDUSTRIES HOLDINGS
BCS - BARCLAYS P L C
LM - LEGG MASON INC
CCK - CROWN CORK & SEAL
FAST - Fastenal Company
FCE.A - Forest City Enterpr
WFSL - Washington Federal
EWBC - East West Bancorp
ZGEN - ZymoGenetics, Inc.
NUVA - NUVASIVE INC
AMB - AMB Property Corp
WRI - WEINGARTEN REALTY INVS
ANH - Anworth Mortgage As
SEE - SEALED AIR CORP NEW
RS - RELIANCE STEEL & AL
NHP - NATIONWIDE HLTH PRO
IRC - INLAND RE CORP
MWA - Mueller Water Produ
PCLN - priceline.com Incor
IOC - Interoil Cp
NPBC - National Penn Bancs
JRCC - JAMES RIVER COAL CO
ROVI - Macrovision Corporation
AFFX - Affymetrix, Inc.
ECLP - Eclipsys Corporation
TWC - Time Warner Cable Inc
ONB - OLD NATIONAL BANCOR
UMPQ - Umpqua Holdings
ARG - AIRGAS INC

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

Labels: BAS, CRIS, RMBS