Top Trade Ideas for the Week of October 3, 2011: The Rest

• Posted by Greg Harmon
• on October 2nd, 2011

Here are the Rest of the Top 10:

SeaCube Container Leasing, Ticker: $BOX

SeaCube Container Leasing, $BOX, is bucking the trend rising off of the September 22 low. It has Relative Strength Index (RSI) that is rising over the mid line and a Moving Average Convergence Divergence (MACD) that is increasing, both supporting more upside. If it can get over 12.40 it has good upside potential.

Cerner, Ticker: $CERN

Cerner, $CERN, is falling after printing a shooting star doji Tuesday. The RSI is falling lower and the MACD is about to cross negative, supporting more downside. A move under 68 could accelerate to the downside. There is support lower at 67 then 65, 63.40 and then 62. Short interest is high at 11%.

Dresser-Rand, Group Ticker: $DRC

Dresser-Rand, $DRC, is testing the bottom of a bear flag with a falling RSI and a MACD that has just crossed lower. Under the flag it could retest the low.

Krispy Kreme Doughnuts, Ticker: $KKD

Krispy Kreme Doughnuts, $KKD, is breaking below support at 7.00. The RSI is very bearish, rolling along the 30 line and the MACD is stalled but in negative territory. With the Simple Moving Averages (SMA) rolling lower look for more downside.

NYSE Euronext, Ticker: $NYX

NYSE Euronext, $NYX, is breaking its flag lower under 24. This may also be a tell on the Financials as the Exchanges have been one bright spot in that sector. It has RSI that has remained bearish since the fall began in early August and a MACD that is now growing more negative, both supporting more downside. The Measured Move (MM) on the breakdown is to 15.

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After reviewing over 900 charts, I have found some good setups for the week. This week’s list contains the first five below to get you started early. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Saturday which looks heading into the first week of the 4th Quarter, very similar to what it did last week. Gold and Crude Oil are set up to continue lower with a chance that Gold consolidates instead. The US Dollar and Treasuries are set up to continue higher and the Shanghai Composite and Emerging Markets lower. Volatility is expected to remain elevated and perhaps increase, supporting the negative bias in the Equity Index ETF’s SPY, IWM and QQQ. At this point the QQQ that has been holding US Equities up looks the weakest. The cards are getting stacked against the US Equity market. Use this information as you prepare for the coming week and trade’m well.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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