Trading Ideas for March 15, 2010
We are on the cusp of a new trading, week, and I hope you all enjoyed your weekend. We have some weakness heading into the open, which the bulls will probably use as a buying opportunity.
At 8:30am ET today, you have the Empire State Manufacturing Survey, Followed by Treasury International Capital at 9am and finally at 9:15am you have Industrial Production. This should no doubt be an interesting week, as you have the Banking Reform bill bill coming out sometime early this week, and then tomorrow you have the Fed and their FOMC statement coming out, and to top it all off, it is also options expiration week. So there are a lot of heavy factors weighing on the market this week, so at times expect some pretty erratic trading.
Here are Today's Trading Ideas
Potential Swing Trade (Long): Aspen Insurance Holdings (AHL) - On a nice and steady upward climb since November of 2008, this stock has pulled back enough, without violating its trend line, to merit consideration for a long position. Consider playing your stop-loss at 26.89.
Potential Swing Trade (Long): City Telecom Ltd (CTEL) - This stock also has been on an unbelievable tear since its bottom in March of 2009. After making new highs once again this month, the stock has pulled back to its 50-day moving average, which it has done on numerous occasions, only to bounce hard and fast off of it. So far it has managed to hold the moving average for three days in a row, with long lower shadows on the candles. Place your stop-loss at 11.44.
Click here to See the Rest of My Trading Ideas.
