Bonus Idea: Top Trade Ideas for the Week of January 18, 2011

• Posted by Greg Harmon
• on January 17th, 2011

After looking at over 700 charts, I have found some good setups for the week. Here is your Bonus Idea.

Pep Boys, Ticker: PBY

Manny Moe & Jack have scraped themselves up off the mat and are pulling Pep Boys higher now. The breakout move Friday has it headed to resistance at 13.75 and then 14.15 higher. The RSI has turned higher after holding in the low forties, remaining bullish, and the MACD is improving and will shortly cross higher. This could continue much higher if it gets above the previous high at 14.18.

Ideas 1-5

The Rest

Trade’m well!

These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which looks to bring lower prices still for Gold but the bleeding could end soon with support nearby, and higher prices for Crude Oil. Treasuries look to resume their walk lower and the US Dollar Index looks to find support shortly and then move back higher. The Shanghai Composite looks to head lower but the other Emerging market are poised to move up. The low Volatility Index does not look to rise materially any time soon facilitating a further rise in the equity index ETF’s.

(As always you can see details of individual charts and more on my twitter feed and on chartly.)

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

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.

blog comments powered by Disqus