Today I'm going to cover stocks on both the long and the short side.
After Motorola Inc. (MOT) announced the sell of part of their assets today, this stock jumped across a year-long resistance level, gaining 43 cents, or 5.7%, on 49 million shares, and thrusting. Looks like a move coming up to take it to 8 3/4, and beyond that something around 9 1/2.
Trina Solar Ltd. (TSL) has been acting great lately. It's been moving up for two weeks in the face of a declining market. Moving averages have crossed over positively and curling around, It looks like a positive upside, but we'll use pullbacks toward the 20 - 21 as buying opportunities should that occur. Resistance up around 27 - 27 1/2 is our short-term trading target.
On the short side, Almost Family Inc. (AFAM), which is just getting hammered, continues to stair-step lower and is header toward a test of that 20 - 21 target we mentioned earlier in the week.
Conceptus, Inc. (CPTS) broke hard and is now bear-flagging. The next down-step on this one calls for a move down around 10 - 10 1/2, and beneath that 9.
Mastercard Incorporated (MA) and Visa, Inc. (V) are both looking negative. Mastercard, which got hammered on Friday, followed through a little bit today. It's right at key support. A break here and you could see this stock drop a quick 20 points.
V has a similar pattern, right at support, and near the apex of a big wedge. It could see a drop down to the high 50s if the market gets hit hard here.
Other stocks covered on the long side are ADTRAN Inc. (ADTN), Arena Pharmaceuticals, Inc. (ARNA), Biovail Corporation (BVF), China TransInfo Technology Corp. (CTFO), Ivanhoe Mines Ltd. (IVN), KEMET Corp. (KEM), National Technical Systems Inc. (NTSC), Polypore International Inc. (PPO), Power-One Inc. (PWER).
Additional stocks featured on the short side are Amedisys Inc. (AMED), Cerner Corp. (CERN), Visa, Inc. (V), Noble Corp. (NE), Oceaneering International, Inc. (OII), Skechers USA Inc. (SKX), Valassis Communications Inc. (VCI).
