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New Plays
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Short Plays
BRCM None
QLD  

Play Editor's Note: After today's test of the October lows for the NASDAQ and the Russell 2000 the market could be poised for a strong bounce. A couple of stocks readers might want to consider as possible bullish candidates for a short-term move are SBUX and TTC. Use a tight stop under today's low.


New Long Plays

Broadcom - BRCM - close: 15.41 change: +0.71 stop: 14.49

Why We Like It:
BRCM recently reported earnings and the news was good enough to pop the stock above its 10-dma a couple of days ago. Now shares are poised to breakout over the $16.00 level. We're suggesting readers buy BRCM at $16.10 with a stop loss under today's low (14.55). If triggered our target is the $19.50 mark.

Picked on October xx at $xx.xx <-- see TRIGGER
Change since picked: + 0.00
Earnings Date 10/21/08 (confirmed)
Average Daily Volume: 14 million

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Ultra QQQ ProShares - QLD - close: 30.33 chg: -0.28 stop: 27.25

Why We Like It:
The Ultra QQQ ProShares is the double-long ETF that typically moves twice the daily performance of the NASDAQ-100 index. We think the NASDAQ may have bottomed today so we're betting on a big bounce from here. Buy the QLD with a stop loss under today's low. Our first target is $39.00. Our second target is $44.50.

Picked on October 23 at $30.33
Change since picked: + 0.00
Earnings Date 00/00/00
Average Daily Volume: 31 million
 

New Short Plays

None today.
 

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