Top Stock Picks for the NYSE, NASDAQ, and AMEX
 
April 26, 2009 Traders' Update                                  
8:01 PM EDT

Financials, Starbucks, JDSU,  and the Home Builders

Financials Select Sector, XLF $10.94,  ( chart )  Upper resistance near 11.33, and a break-out could be ahead. A stop-loss near $9.97  is suggested which is near the  20 day  MA.

JDS Uniphase, JDSU, $5.17 ( chart ). The near term resistance is $5.30. If  JDS can close above $5.50, a move to the 200 day MA is the next target at $5.84.

Starbucks, SBUX, $13.51 ( chart ). Moving higher after a big pop. A Near term targets for SBUX could be near $15.

Williams Sonoma, WSM, $13.19 ( chart ) A near term target of $15.60 if the climb continues. A pullback to the 200 day MA is possible near $12. Add to your watchlist.

Ford, F, $5.00, ( chart ). The move higher was confirmed 700 million shares last week. As we move higher, resistance near $6-$8 will limit the rally straight up. We suggested Ford would move higher back at $4.24.

SPDR Home builders Index, XHB, $13.79, ( chart )  A close just near the 200 day MA. This could be the technical resistance or the start of a new bull run higher. Some Overhead resistance at $20 if the move continues up.

Beazer Homes, BZH, $2.18  ( chart ). Beazer has been down to the point of  .24cents.  If you want to take a chance on a more risky play, the technicals indicate some buying and upward momentum. A stop-loss could be a good idea.

April 19, 2009 Traders' Update                                  
12:35 AM EDT

Signs of a Bottom. Google, Applied Materials, and Apple

The S&P500 ( chart ) closed the week at 869. The weekly gain of 1.52% brings the 30 week moving average near the 871 area. Technicals indicate a high volume confirming the uptrend. We remain bullish in the short term and see the market grinding toward 945.

From our last week's picks, we suggest increasing a stop-loss on any of the following:

Bank of America, BAC, $10.60 up 10.9%
American Express, AXP, $21.81 up 15.8%.
Financial Bull , FAS, $9.40, up 7.9%
ProShares Ultra Financials, UYG, $3.79, up 8.91%
Financials Select Sector, XLF, $11.11, up 4.52%

Stocks nearing a break-out

GOOG ( chart ) Google, $393.24, up 5.3% last week on 32 million shares or slightly above average volume. The daily volume for Thursday and Friday was 2X average, suggesting a break-out as the $381 resistance has been broken. The second major bullish technical is the close above the 200 day MA. Should you back up the truck ? We are not sure but a stop-loss is suggested at $375.

AMAT ( chart ) Applied Materials, $11.92, up 4.1% last week. AMAT has moved up past the $11.64 older resistance point in early January. The stock is moving in a very slow uptrend but has not made a big pop. We continue to watch for a move over $12-12.25.

AAPL, ( chart ) Apple, $123.43. From April 4th we picked Apple at $115.99. Since then it's up 6%. The move higher at this point could be to near $130 dating back to March 2008. Volumes could be higher to confirm this uptrend does not sell off. A suggested stop-loss is near $116.

Watch list: Stock scans resulting in stocks/ETF's with upward momentum or nearing break-outs. With the market showing signs of life, we suggest reviewing these picks.
 
YUM,AMD,MU,NVDA,DELL,WEN,SNDK,NBR,RIMM,SIRI,
AEO,ARO,CHKP,MVSN,NBL,PBY,RT,STSI,EV,GNTX

April 11, 2009 Traders' Update                                  
11:15 AM EDT


Financials are looking bullish. Bank of America, Toyota and Ford.

The S&P500 ( chart ) closed the week at 856. The weekly gain 1.6% brings the average near the 900 upper resistance area. Volume on Thursday was above average at 6.4 billion. With the surprise earnings report from Wells Fargo, $19.61, WFC, ( chart ) the financial sector pulled the market higher. Ford Motors, F, $4.24 ( chart ) closed above the 200 day moving average, the worst could be behind for Ford.
  • The Bank of America, BAC, ( chart ) surged 35% Thursday to close at $9.55. The move for Bank of America is ultra bullish, the volume was the highest to the upside in the past 2 years.
  • American Express, AXP, $18.83 ( chart ), up 19.78% on 39 million shares.The move higher may need to consolidate, but the close above the older resistance of $18.03 in early February is bullish.

Financial  ETF's
  • FAS $8.71 ( chart ) moved higher 40.7% on Thursday. The volume was higher than average at 321 million shares. FAS has closed above the older resistance in March and could be set to move to $10-$12. A stop-loss should be used to protect the long position. We could see some profit taking early in the week, with a better entry point at $7.75. A suggested stop-loss would be near $7.50.
  • ProShares UltraShares Financials UYG, $3.48 ( chart ) are leveraged 2X. The move higher Thursday was 23% up on above average volume.
  • Financials Select Sector, XLF $10.63,  ( chart ) moved higher 15.5% on Thursday. XLF has closed above older resistance levels and could be headed toward $11.50. Use a stop-loss to enter the trade.
  • Toyota, TM, $79.19, ( chart ). Toyota is moving higher with Ford. The moves have been fast for both auto/truck companies and the advance could signal the demand for the world autos has picked up. If Ford and Toyota can stay above the 200 day moving average and climb higher, a new bull run for the auto sector could be emerging.
 

April 4, 2009, Traders' Update                                  
10:25 AM EDT


Technology and Chip Stocks are nearing Break-outs.

The S&P500 ( chart ) closed at 842 holding on a gain of 3.2% for the week. It was a rocky week at the start, but the market is looking like it may move higher. Technology shares are the sector showing the best chart patterns and could lead this market higher. The Tech theme does reflect past recoveries of the market where Tech stocks lead a recovery.

QQQQ, ProShares QQQ . $32.35. The close above the upper trading range of $31.63 is bullish. The next near term target could be near $34. Use a stop-loss as QQQQ is a fast paced ETF, volumes are high and big money is moving in and out. QQQQ is trading above the 6 month range between $31.63-24.97 - bullish.

BBY, Best Buy, $40.26, Climbing after a break-out from the $31.78 upper resistance. The move in the past 7 trading days is bullish.

COMS, 3Com Corp. $3.55, The break-out from the $2.85 resistance is well under way. Some profit taking or consolidation could be near. This is a price model of what to expect from a stock in base building stage and a break-out move higher.

CY, Cypress Semicondictor, $7.22 Trending higher on the upper Bollinger band. We can only say this is a stellar move from the doom and gloom of the last 6 months. Some profit taking could be nearing, but the break-out above $5.65 was fast.

AMAT, Applied Materials. $11.81. The move above $11.64 is above the old resistance in early January. Volumes could be higher for the move up. Watch for further price increases.The next resistance could be near $13 to $13.38.

INTC, Intel. $15.95. The move is bullish to close above $15.52. The next resistance is near $16.67 or the 200 day MA.

RHT, Red Hat, $18.62. Red Hat has just moved above the 200 day and broke out of the upper trading range of $16.45. The move above $16.45 could signal a target of $20-$21. The move higher could just be starting.

RIMM, $59.29, up 20.7% Friday. Explosive move higher on 75 million shares. This is a warning to move out of short positions on most tech shares. The old resistance of $60.47 slowed the advance. We could see RIMM advance again, watch for any move to $61-$62 before diving in.

AAPL, Apple, $115.99. A move higher from the trading range of $78-103. The move higher today could have been helped by the surge from RIMM. AAPL is nearing the fall of 2008 prices. Watch for additional volumes above 30 million shares.

IBM, $102.22. Another close of a big name above the 200 day moving average. The fact IBM has closed over this key technical indicator is bullish for the entire NYSE.

TM, Toyota, $75.11 Up 4.7% on high volumes to close above the 200 day moving average. This move was very fast. Some consolidation back to the break-out could be near. In any case some life to the auto sector is good news.

F, Ford, $3.25. Nearing the 200 day moving average. Watch for a close above $3.54 which could signal a move to $4.24. The move up on the chart pattern has been slow and a close above $3.55 is bullish.

AMZN, Amazon. $78.17, The move higher in the past 2 weeks has Amazon nearing last Septembers prices. The uptrend is bullish, but some profit taking can be expected. Overhead resistance is near $82.50.