Picks for December 10, 2007

By Jason Wall - Daily Online Trading Picks

Friday Wrap-up:

Results were mixed on Friday. Some Uraniums were up, others were down a bit. UUU.TO held up nice on Friday seems to be ready for a run-up if the markets continue being strong. USU was up about 8% on the day as well.

BUYS:

URANIUM STOCKS - I am still on board for some swing trades on Uranium stocks. The following are uranium stocks that I am tracking:

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

Buying on pullbacks should be considered. 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. On the run up, watch for a bearish reversal candlestick and then take profits.

Other buys include: EMC, SWC (this one has run up pretty good, and might want to wait for a pullback)

SHORTS:

NONE: I am still uncomfortable with shorting stocks right now with the fed decision on Tuesday. If you are considering going short, consider it only a daytrade.

That's it for now...

Next week I will have a post related to some good junior uranium companies to invest in.

Good trading to everyone...


Disclaimer: There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Our blog located at daily-online-trading.blogspot.com and all individuals affiliated with this site assume no responsibilities for your trading and investment results. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice. Information for futures trading observations are obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. Your use of the futures trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade with your broker and make your own independent decisions regarding any securities mentioned herein. This information may have already been disseminated by our blog. Affiliates of this blog may have a position or effect transactions in the securities described herein (or options thereon) and/or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies.

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

Source: Daily Online Trading Blog