Trade Ideas for the Week of October 18, 2010

• Posted by Greg Harmon
• on October 18th, 2010

Due to technological problems while traveling this weekend this list will be a but less robust in defining key levels and reasoning. Please do your own homework before taking any action. Last night I put out a weekly review on the markets. This week looks to bring stronger prices for Gold, but may see a slight pullback in Oil. The US Dollar Index is still weak but may see a quick bounce and US Treasuries look to continue lower. The Volatility Index should continue to be relatively benign, but equities again look weaker in the daily charts and may see a rest or quick pullback but the weekly charts still all point higher. Trade accordingly.

Amgen through 57 looks good to 59 first resistance and then 60 and 61.

American Express looks lower to 38. Stop at 39.80

Astra Zeneca looks primed to move to 60, watch 52.35 as support

Buffalo Wild Wings looks to try 52.90 as long as can hold above 48.50 support

Comcast is breaking higher and ripe for 19.80 resistance and maybe more

Harte-Hanks can get to 13.5 or more (14 or 15.25 are resistance above) if it can hold 12.50

NCR above 14.35 can try 15.50 and then 16

If Patriot Coal can hold above12.71 it can try for 14, if it fails then support is at 11.62

Solarfun Power looks lower with support at 9.89. Lots of solars look weak.

State Street needs to get above 41.01, and then it can try 42.80 and 45

If Skyworks rejects at the top of this channel then it can retrace to support at 20 and then 19.12

World Acceptance needs to hold at 37.50 to have a chance higher at 39.18 and then 40.17, 34 if loses it

Wynn if flagging, if can break 102.50 it can run to 110, under 100 then support at 95 first.

I believe that makes for 13 ideas. Hopefully the extra few names makes up for the lack of concise technical analysis I hope you usually find in this column. Trade well this week.

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