At the beginning of every week I will take a look at the broad market as a whole and discuss what important updates will be happening in the week and if any significant reports/earnings will be coming out.

Then everyday I will try to find a new stock that I feel is poised for a big next couple of days and set price targets, stops, etc.

Wednesday, April 2, 2008

Thursday Pick:

It looks as if the market will be heading lower on Thursday and with that being said I have a few stocks that I feel will also be heading lower.

Citi (C) closed below the 50 day moving average and is also at the top of the bollinger band. Furthermore it also formed a doji which in this place probably signals a reversal. Also it is near resistance at 25.00.

Short above: 24.0
Cover @ 24.24
Profit take @ 23.52 or end of day
Equitable Group Inc (ETC.TO) if they can cross the resistance

Intel (INTC) also looks like an attractive short as it formed a hanging man formation and closed near previous resistance at 22.00. Also it is near the upper bollinger bands:

Short above: 21.9
Cover @22.12
Profit take @21.46 or end of day
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