Picks for December 7, 2007

By Jason Wall - Daily Online Trading Picks

YESTERDAY:

We did very well yesterday, calling things pretty well with UUU.TO and TIM.TO. TIM.TO played almost exactly how we thought it would. You could have made some good money with that stock yesterday. We did not get to 9.00 on UUU.TO, but it ended the day at 8.90. If you sold at the end of the day you would have had a nice little profit. But...will be back into UUU.TO today on any pullbacks...see below.

BUYS:

URANIUM STOCKS - Uranium stocks setting up to be in a great position for a nice rally. As a result, these would be some great swing trades. Warren Buffet has now entered the Nuclear game, so who is to argue with the best. The following Uranium stocks have the best potential:

UUU.TO, DML.TO (DNN), MGA.TO, PNP.TO, USU, CCO.TO (CCJ)

Buying on pullbacks may not be a bad idea today. Many of these stocks could play to the top of the bollinger band and could even go above. However, it may not be a bad idea to take profits on half of your position when the price hits the top of the bollinger band.

HELLO SANTA CLAUS RALLY!!!!!

SHORTS:

NONE: With the fed looking to lower the interest rate in the US by either .25 or .50, I don't see it wise now to even consider shorting a stock. Maybe on a very quick daytrade would be OK as some do sell into a rally, but I will NOT be doing any shorting until the fed comes out with their decision.

That's it for now...

Good trading to everyone...


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About the Author: Jason Wall owns and runs various web sites and is also a daytrader.

Source: Daily Online Trading Blog