Top Trade Ideas for the Week of May 16, 2011: Bonus Idea

Here is your Bonus Idea with links to the entire Top 10:

MedQuist, Ticker:$MEDQ

This is a little bit of a controversial call as this is a PINK sheet issue. It may do nothing. But if it can get over 10.55 then it has a target of 12. The Relative Strength Index (RSI) has been bouncing off of the mid line and the Moving Average Convergence Divergence (MACD) indicator is crossing higher suggesting a move could come.

The First 5

The Rest

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

After reviewing over 800 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Saturday which looks like more downside for Gold and Crude Oil. The upside path looks to continue for the US Dollar Index and US Treasuries. The Shanghai Composite looks to reverse higher with the Emerging Markets continuing lower. Volatility looks to remain in check. The Equity Index ETF’s will look to the QQQ for leadership to try to pull them higher, with the SPY and IWM looking weaker without any help. Use this information to understand the major trend and how it may be influenced as you prepare for the coming week ahead. Trade’m well.Up

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.

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