Market Overview

Stocks Watchlist For Tuesday, October 16


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InterDigital, Inc.(NASDAQ: IDCC) Bought more today. It's very possible that the pull back is done and the uptrend should now continue. I like to see the CMF positive and rising. CMF "Chaikin Money Flow" is a technical indicator used to determine if a security is under accumulation or distribution. In this particular case, the CMF shows that the stock is being accumulated. Hopefully, it's enough to allow the continuation of price surge.

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Hercules Offshore, Inc. (NASDAQ: HERO) remains in an uptrend as long as the trendline holds. As shown in the chart, if 5.05 is convincingly broken on a close basis a drop to 4.5 is very likely in my opinion.

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Cal Dive International, Inc. (NYSE: DVR) The company seems cheap at this price, with a book value of 3.15 and with a median price target from several analysts of 3$. From a technical standpoint, the stock is rebounding from an oversold area according to the momentum indicators on the daily charts. In the immediate term the stock could find resistance at the 20-day moving average at $1.53.
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OmniVision Technologies, Inc. (NASDAQ: OVTI) can give a short term bounce back. MACD ready to cross over the signal line, RSI is turning up and Stochastic bouncing from oversold territory.
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JetBlue Airways Corporation (NASDAQ: JBLU) - On watchlist no trigger yet. Long above $5.25. The stock has very strong support at 5.02, which is its 50 day sma.

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Elan Corporation, plc (ADR) (NYSE: ELN) Bottom play. If the stock can break through the 50-day sma at $11.24, we should see a strong follow through move. From a technical standpoint the MACD shows a bullish divergence, so there may be some light ahead. Stay tuned.

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