Looking for Entries

 | Aug 23, 2011 | 10:30 AM EDT  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

ric

,

exk

,

mfn

,

WETF

,

ald

For the second straight day, opening strength faded quickly. This time it wasn't nearly as exuberant to begin with and we quickly found support. This may turn out to be a healthier setup for upside for the remainder of the day as we have probably shaken out the few weak hands.

We are at the highs of the day and if it can hold for an hour or so that should attract bounce buyers. The key is for buyers to gain a little confidence, and the only way they are going to do that is if we can stay in positive territory.

I'm a buyer with a short-term time frame and I'm looking for entries. I took some of the mining stocks on early weakness. Richmont Mines (RIC), my stock of the week, continues to be my favorite but I also like Endeavour Silver (EXK) and Minefinders (MFN).

A new name I've been looking at is WisdomTree Investments WETF. It develops niche exchange-traded funds that focus on dividends, earnings and such. It's also active with its Asia Local Debt ETF (ALD) and launched very successful bond funds in that area. Given the surging volume in ETFs recently, I believe this stock will attract increased interest.

The stock received a plug in Barron's this weekend and, technically, a move through $8 should attract momentum buyers. Recent volume indicates the stock is starting to hit the radar screens of the hot money.

Columnist Conversations

I set you up for the trading Week Ahead from the floor of the NYSE with Peter Costa of Empire Executions... Ha...
LNKD is trading $226.08, up 3.1% with IV30™ up 0.4%. This is a stock price and volatility note on a so...
From Moody's: "Dynegy announced that it expects to finance the transaction with $5 billion of unsecured notes ...
Kohl's is beginning to lose its upside momentum this week. The stock has been in hyper drive since the ...

BEST IDEAS

REAL MONEY'S BEST IDEAS

Columnist Tweets

BROKERAGE PARTNERS

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.


TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.