The Oxen Report: Can Alcoa Deter Market or Are We Looking for a Morning Rebound

Oxen Report Readers,

I hope you got involved in our Overnight Trade of Infosys Technologies Inc. (INFY). The stock beat earnings estimates, reporting an EPS of 0.59 vs. the expected 0.51. The company is looking for more growth in Q4 of 2009, and it is looking like a very solid pick up. We can sell in the morning, as the stock is already up 4% in pre-market trading.

But, let’s get into today’s market…

 

Buy Pick of the Day: Ultra Proshares Real Estate ETF (URE)

Analysis: IN PROGRESS

Entry: We are looking for an entry of 6.70 – 6.80.

Exit:  Looking for 2-3% increase.

Stop Loss: 3% on bottom.

 

Short Sale of the Day: Great A&P Tea (GAP)

Analysis: IN PROGRESS

Entry: We are looking for an entry of 10.90 – 11.00

Exit: We are looking for a 2-3% decrease.

Stop Buy: 2-3% increase.

 

Good Investing,

David Ristau