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Tuesday, December 21, 2010 

Stock Picks for Wednesday December 22

( click to enlarge )

Good afternoon everyone! Looks like I'm going to start the day with a technical setup on Affymax, Inc. (NASDAQ:AFFY).

Looking at the technical chart above, we can see a few technical signals suggesting that a swing higher may be in the cards in the short term. I think today's pull back was a good buying opportunity. My first target is $7.55 and the second target is $8.58. Currently the short term chart is bullish and medium-term neutral. Money Flow Index is moving up again and the stock price is currently trading above the major moving averages, which is Bullish. In addition, the stock formed a bullish MACD Crossover signal. Honestly speaking it seems cheap at this level based on fundamentals, the company is debt free and has $4.14 in cash per share. Nevertheless, we have to follow the market direction and not force it. The bullish outlook would be negated on a close below $6.05.

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Force Protection, Inc. (NASDAQ:FRPT)  broke out today above a major resistance point. Short-term technical indicators are improving and the MACD on the daily chart recently produced a new buy signal. If the stock can break today‚Äôs high of $5.73, we should see a strong follow through move. FRPT will move very quickly, so keep a very close eye on the stock.

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Bank of America Corporation (NYSE:BAC) - The major resistance has been broken in this technical chart. The price can move up to $13.52-$13.90 in the short-term. The stock has been doing well recently as %K line is on top of %D line with MACD on top of signal line. Now that the stock is above this horizontal resistance line more buyers should be coming.

  ( click to enlarge )

Sounds like Banner Corporation (NASDAQ:BANR) is gaining some momentum again. The stock has made a strong bounce off of the lows that were posted earlier in the month with high volume. The technical daily chart shows possible new rally as %K line is back above %D line, while the RSI is also gaining strength. If a proper breakout happens at $1.90 we can see a target of $2.29.

Other stocks to watch :

Earnings Announcements for Wednesday

Christopher & Banks - CBK
Lindsay Corporation - LNN
Walgreen - WAG

The following list show stocks whose MFI (15) ( Money Flow Index ) has been increasing over the last 2 trading sessions

MGM - Mgm Resorts Int
LVS - LAS VEGAS SANDS CP
MOT - MOTOROLA INC
BSX - BOSTON SCIENTIFIC CORP
MU - Micron Technology
AA - ALCOA INC
EK - EASTMAN KODAK CO
SLE - SARA LEE CORP
XOM - EXXON MOBIL CORP
MDT - MEDTRONIC INC
HPQ - HEWLETT-PACKARD CO
MRVL - Marvell Technology
AMAT - Applied Materials
BRCD - Brocade Communications
QCOM - QUALCOMM Incorporated
ADBE - Adobe Systems Incorporation
EMC - EMC CORP
KEY - KEYCORP
MO - ALTRIA GROUP
PG - PROCTER & GAMBLE CO
SD - Sandridge Energy Inc
ITMN - InterMune Pharmaceutical
THC - TENET HEALTHCARE CORP
AKS - A K STEEL HOLDING CORP
FITB - Fifth Third Bancorp
SCHW - Charles Schwab Corp
KO - COCA COLA CO
HD - HOME DEPOT INC
STX - Seagate Tech
XRX - XEROX CORP
NWSA - News Corp Ltd
TSO - Tesoro Corp
TXN - TEXAS INSTRUMENTS INC
ITUB - Itau Unibnco Adr
CX - CEMEX S.A.
USB - US Bancorp
NOK - NOKIA CORP
AMGN - Amgen Inc.
PCX - Patriot Coal Corp
AIG - AMERICAN INTERNATIONAL
PHM - Pultegroup Inc
GLW - CORNING INC
DRE - DUKE-WEEKS REALTY CORP
JBL - JABIL CIRCUIT INC
SLB - SCHLUMBERGER LTD
KR - KROGER CO
HOLX - Hologic, Inc.
AMR - A M R CORP
VOD - Vodafone Gp Plc
NG - NOVAGOLD RESOURCES INC
CBS - CBS Cl B
BK - Bank Ny Mellon
PEP - PEPSICO INC
GPS - GAP INC
CHTP - Chelsea Therapeutics
SWY - SAFEWAY INC
AES - A E S CORP
STI - SUNTRUST BANKS INC
WMB - WILLIAMS COS INC
NTAP - NetApp Inc
KOG - KODIAK OIL & GAS CP
BHI - BAKER HUGHES INC
KIM - KIMCO REALTY CORP
LUV - SOUTHWEST AIRLINES CO
DHI - Horton DR Inc
CCL - CARNIVAL CORP
DUK - DUKE ENERGY CORP
KGC - KINROSS GOLD CORP
JNPR - Juniper Networks
LEN - LENNAR CORP
LSI - LSI Corp
FNSR - Finisar Corporation
MYL - Mylan Inc
SO - SOUTHERN CO
SBUX - Starbucks Corporation
MON - Monsanto Co
TER - TERADYNE INC
DF - DEAN FOODS INC
TLAB - Tellabs, Inc.
IP - INTERNATIONAL PAPER CO
MT - Arcelormittal
NUE - NUCOR CORP
CNX - CONSOL Energy Inc
WY - WEYERHAEUSER CO
JDSU - JDS Uniphase Corporation
PWER - Power-One, Inc.
MPEL - Melco Crown Adr
HCP - HCP Inc
EXC - EXELON CORPORATION
SWFT - Swift Transportation
D - DOMINION RESOURCES
ACI - ARCH COAL INC
CPN - Calpine Corp
SAI - SAIC INC
TWX - AMERICA ONLINE INC
NYT - New York Times Co
SVU - SUPERVALU INC
EGO - ELDORADO GOLD CP
ZION - Zions Bancorporation
CLF - Cliffs Natural Resources
TOL - TOLL BROTHERS INC
JCP - PENNEY J C CO INC
MTG - M G I C INVT CORP WIS
SWC - Stillwater Mining Co
CAH - CARDINAL HEALTH INC
CSE - CAPITALSOURCE INC
MCP - Molycorp Inc
BEC - BECKMAN COULTER INC
GERN - Geron Corporation
AMT - AMERICAN TOWER CORP
ALL - ALLSTATE CORP
MOTR - Motricity Inc
KMX - CarMax Inc
CMA - COMERICA INC
CELG - Celgene Corporation
IAG - IAMGOLD CP
CROX - CROCS INC
TIBX - TIBCO Software, Inc.
PMCS - PMC - Sierra, Inc.
MAR - MARRIOTT INTL INC NEW
RSG - REPUBLIC SERVICES INC
VSH - Vishay Intertechnology
STJ - ST JUDE MEDICAL INC
VVUS - Vivus, Inc.
NOV - NATIONAL OILWELL INC
FE - FIRSTENERGY CORP
GFA - Gafisa SA
JNS - Janus Capital Group
ADP - Automatic Data Process
AFL - AFLAC INC
SFI - ISTAR FINANCIAL INC
KMB - KIMBERLY CLARK CORP
COH - Coach Inc
VRSN - VeriSign, Inc.
CMS - C M S ENERGY CORP
DRI - DARDEN RESTAURANTS INC
ADSK - Autodesk, Inc.
USG - U S G CORP
MMR - MCMORAN EXPLORATION CO
MDRX - Allscript Health
AON - AON CORP
YGE - Yingli Green Energy
INTU - Intuit Inc.
ADI - ANALOG DEVICES INC
TWC - Time Warner Cable Inc
FST - FOREST OIL CORP
IVZ - INVESCO LTD
SVNT - SAVIENT PHARMS
MOS - Mosaic Co
HLIT - Harmonic Inc.
SKS - SAKS INC
PGN - Progress Energy Inc
ETFC - E*Trade Financial Inc
NKE - NIKE INC CL B
WYNN - Wynn Resorts LTD
DAN - Dana Corp
CY - Cypress Semiconductor
DECK - Deckers Outdoor Corporation
NEE - Nextera Energy
APOL - Apollo Group, Inc.
DHR - DANAHER CORP
ARMH - ARM Holdings, plc
EXEL - Exelixis, Inc.
CLD - Cloud Peak Energy Inc
ANR - ALPHA NATURAL RESOURCES
ELN - ELAN CORP P L C
NRG - NRG Energy Inc
XEL - XCEL ENERGY INC
WM - WASTE MANAGEMENT INC
AONE - A123 Systems Inc
SWKS - SKYWORKS SOLUTNS
TEX - TEREX CORP
LPX - LOUISIANA PACIFIC CORP
K - KELLOGG CO
LOCM - INTERCHANGE CP
LM - LEGG MASON INC
RRC - Range Resources Corp
MIPS - MIPS Technologies
ZMH - ZIMMER HOLDINGS INC
TEL - Tyco Electronics Ltd
BMC - BMC Software Inc
BIG - Big Lots Inc
SRE - SEMPRA ENERGY
CIT - CIT GROUP INC
WR - WESTERN RESOURCES INC
ITT - ITT Corp
STO - Statoil ASA
TS - Tenaris SA
JWN - NORDSTROM INC
OC - Owens Corning Inc
FLIR - FLIR Systems, Inc.
KEG - Key Energy Services
BLK - BLACKROCK INC
MAC - MACERICH CO
MDR - MCDERMOTT INTL INC
OMX - OfficeMax Inc
AYE - ALLEGHENY ENERGY INC
POM - Potomac Electric Po
UNM - UNUM GROUP
JRCC - JAMES RIVER COAL CO
HMY - HARMONY GOLD MINING
MCK - MCKESSON HBOC INC
CENX - Century Aluminum Co.
ECL - ECOLAB INC
SYK - STRYKER CORP
AVT - AVNET INC
FRG - Fronter Gold Inc
CCJ - CAMECO CORP
FLR - FLUOR CORP
PX - PRAXAIR INC
AMB - AMB Property Corp

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.  

As always, good luck !

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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