Written by Pat McCubbin
Exact Stock Picks
Good Afternoon,
Another up and down day on Wall St. As second quarter earnings keep coming out traders try to digest the true meaning of it all. It will most likely be like this over the next few weeks. As always we are selecting issues not based only on technical analysis, but always remembering we need to straddle both sides of these volatile markets.
In today’s trading we selected two new stocks. DXP Enterprises, Inc. (DXPE) and Motorcar Parts of America (MPAA). Both are riding very strong technical trends to the upside and we have been waiting for confirmation from other indicators which confirm our entry for today. DXPE was up over 2% since after our purchase today and MPAA was flat.
Companhia de Saneamento Basico (SBS) was a stock we held over for August. This stock is tremendously strong and was due for some buying interest. We finally got some action to the upside today, and posted a nice 3.5% gain.
Hospira Inc (HSP) which we shorted yesterday showed weakness in this overall market today which leads us to believe it has reached a reversal of its trend and is most likely to find few buyers in the short-term.
Astrazeneca (AZN) is up since our entry and is showing a nice continuing trend to the upside.
Adtran (ADTN) was flat today and may be in a consolidation mode. We feel this stock has been overbought in the short-run and continue to believe it’s due for a pullback.
We did stop out on our position in Schnitzer Steel Industries (SCHN) today. Luckily we had our stop placed correctly because it gained another four dollars after it hit it.
We look well poised to start cashing in on some profits this week. We look forward to another exciting day tomorrow. Have a great evening!
TEN Exclusive: Portfolio Update – 7/20/10 is an article from: 
