Google Recommendation Follow-up
Mar 4, 2010 Technical Analysis, Trading Idea, Uncategorized
Two days ago on March 2nd, we published a post on the Navivest blog, in which we suggested that based on technical analysis, Google shares could be heading much higher.
The shares were at $542 then and today, they closed at $554.59, up 12 points since then. We still see some more upside although with the nice move in just two days, its never a bad idea to take early profits.
Tomorrow Friday before the market opens, we get some key economic news, including the unemployment rate for February.
Should the economic news releases send the market higher, we would hold on to Google shares and set tight stops, with an aim towards taking profits next week, but if the news is bad, then close out the Google trade.
Tags: google, stock recommendation, Trading Idea
JDS Uniphase In Bullish Formation
Feb 17, 2010 Stocks, Trading Idea
Telecom equipment manufacturer, JDS Uniphase (JDSU) rallied 17% last week, opening the week at $7.90 and closing at $9.25. On Tuesday, the first trading day this week, the stock climbed another 3.7% from last Friday’s close, extending the recent bullish formation. With yesterday’s move, the stock set a new 52 week high at $9.62 and closed just two cents below that. With the overall stock market adding some upward momentum the last few trading sessions and looking to continue that, (JDSU) should tack on a few more percentage points making for some nice near-term profits.
