Your Money Matters

This morning, I am putting out a buy recommendation on Nordson Corporation. This stock has shown considerable strength over the past six months and has undergone some selling pressure recently. As a result, the stock has become oversold as in now a prime candidate for a trade. You can enter a long position in NDSN once the MACD crossover is complete or if you are looking for better confirmation, you can put in a limit order to buy the stock at 73.22. This is a medium risk play. Initial support is at 68 with resistance at 78.

Since Monsanto hit a 52 week high of 145.80 on June 18th, the stock has been on a downward spiral. Technically, MON has now triggered and confirmed a new short signal with its recent higher move to close to $124 per share on Wednesday followed by continued pressure on Thursday and Friday. I am recommending that you now short this stock at the market in anticipation of the next move downward. It is this same  methodology that we recently applied to our short of MA at $263 recently that we see happening to MON this week. This is a medium risk play and I urge you upon entry to put your stop loss order to buy at 10% above your entry price.

With the uncertainty over the equities markets continuing throughout the week, I am becoming more convinced that we need to go down to test the Dow Jones Industrial Average support levels of 11,000 and possibly 10,800. As a result, our trading bias continues to be ...

I am putting out a sell short recommendation on Research in Motion (RIMM- NASDAQ) this morning. This is a medium risk play in which you can enter this trade once the stock closes below the 7 day moving average (approx. $115). This stock has been steadily trending downward since it reached a high price of $147.50 on June 23rd and has now triggered my interest in the mild rebound off its lows. My bias towards this stock will change if RIMM goes down to test those lows again and creates a double bottom. In the meantime, we can feel comfortable shorting this stock if downward momentum continues.

This morning, I am putting out a short sale recommendation on ANSYS, Inc. (ANSS-NASDAQ). This stock has been on our watchlist for several months now and we have traded the stock on the long side during the spring with excellent results. However, on a technical basis the stock has created a double top in late June and has fallen ever since. ANSS found support recently at the $42 level and has bounced off recent lows. Since the stock is still in a long-term downward trend, I believe that you can go short  below 43.95 and look for an initial profit objective of $2-$4 before running into initial support. This is a medium risk play.