Top Ten Ideas for Week of 6/7/2010

After a very interesting week here are my top ten ideas for the coming week. 6 short ideas and 4 long in no particular order. Keep in mind the market trend is lower, so longs are counter trend, be careful.

1. Genzyme – GENZ

Failure at 47.50 – 48 sees next support at 45 then 40.50 from 2004 (6 years ago – is that still valid?)

2. SL Green Realty – SLG

Going to test the 100SMA and dotted trendline, failure there sees 49.30.

3. Buffalo Wild Wings – BWLD

Going to test 35.26, failure there sees 30.90, 37.31 is resistance.

4. Chipolte Mexican Grill – CMG

Strong, if holds 142 area should see 156.

5. Electronic Arts – ERTS

A break below the 15.80 support would give a target of 10.80ish, woah!

6. Flowserve Corp – FLS

Cracking 38.2% Fibonacci retracement level, look for 80.79 next.

7. United States Natural Gas – UNG

Love this. Big break out on volume and followed next day with bigger volume. 9.35 coming.

8. United States Steel – X

Broken, 33.50 coming, get short.

9. SanDisk – SNDK

Like a salmon swimming upstream. New highs coming if holds 44.70ish.

10. VMware – VMW

Next key level is 72.87 to the upside, good support Friday.

BONUS IDEA

Priceline.com – PCLN

Inverted hammer says support will hold near 180. If not then look for 157.50, resistance above is at 190.

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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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