December 9, 2009

Two picks

Bullish pick: RMBS   

 

break out with a nice volume.  buy signal on weekly chart also.  if retest the neckline and bounce back, it will be a good buy.

 

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Bearish pick: RIG

 

A-B-C wave correction is done and also in downtrend (lower low and lower high).  Many stocks already show very similar pattern.  I take RIG out since the sub-wave structure is really clear on this one.

 

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