Saturday, August 7, 2010

Stock Market Rally in Store

Good Morning Stockhoppers, Earning reports still keep coming in mixed. Major indexes have been correcting a bit. One thing I notice with these markets here lately is that they will be down big during the day and come back at the end of the day, maybe not into positive territory but all the same they do rally back at the end of the day.....

What does this snap back tell me? The rubber band is not broke. The traders still believe in this market. Fundamentally the earnings have not been that bad. Many positive surprises. TECHNICALLY though...

Technically speaking this market is ready to rally!! we should see 3 to 4 days of gains here next week. Many stocks will rebound. After staying up late Friday night I analyzed the stocks that are poised to take full advantage of our mini rally forthcoming. Here they are!!

MBI - @ a break above 8.97 Earnings are coming out on Monday so trade accordingly, by the way they are suppose to beat estimates.

ETFC - @a break above 15.40. News has been neutral but traders taking interest here. Check the volume.

- @ a break above 7.51. News here is neutral,set up beautifully... technically speaking.

- @ a break above 14.44. Another technical set-up. I guess it would help if deal with Japan comes through.

These are my picks to have large percentage gains. Others that you may want to put on your watch list are: ZION,DFS,HST,FTR,F,GE.

Hope these prove profitable for you and until next time......Chart wisely today!!


Master Stockhopper