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Short-Term Trading Ideas

by Rick

NCR (NYSE: NCR, $41.14)
NCR provides data warehousing and customer information software. Stock was first spotted back on October 16th. At that point in time, the shares were changing hands at $39.62. After the company reported earnings on Thursday, October 26th, NCR dipped as low as $38.06. However, the stock rallied back strongly on Friday, gaining nearly $2 per share despite weakness in the tech sector. Target is $44.39. Exit the trade if NCR falls back to $36.80, below a base formed near $37.

Foundry Networks (Nasdaq: FDRY, $12.57)
Foundry manufacturers routers and other switching devices used in Internet traffic management. The shares bottomed at $8.98 in late July, and then hit a peak of $14.00 near the end of September. FDRY has now broken an uptrend line in both price and relative strength. MACD, stochastics and CCI are all on sell signals. RSI has just broken below 50. Target is $11.05. Cover the short at $14.11, just above the stock’s September peak.


Posted in General on November 2nd, 2006

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