Blain’s Nightly Stock Picks, April 03 2008

Posted by Blain Reinkensmeyer
April 3, 2008 at 7:42 pm

With unemployment numbers coming out today sour it is very good to see the market hold its ground and end the day flat.

Fertilizers were the big movers today with POT closing at new highs. CF and MOS also had great days, though the two stocks have some work to do yet.

Nasdaq Composite

Next resistance at 2400 for this index. The trend of lower highs has been broken… for now.

nasdaq-040308.png

S&P 500 (SPY)

SPY is the ETF tracking the S&P 500 and its next target price is $140.

spy-040308.png

Baidu.com (BIDU)

BIDU finally broke $280 on good volume. Today was the 2nd day that BIDU also closed above its 200 day moving average (not shown), a bullish sign.

bidu-040308.png

Google (GOOG)

Google is having trouble gaining any sort of momentum, and needs to stay above $430 to keep the higher lows trend going. A heavy volume break past $480 is your next buy point.

goog-040308.png

Research in Motion (RIMM)

A heavy volume move sent RIMM moving after the stock beat earnings the night before. The stock now has strong momentum established.

rimm-040308.png

Potash (POT)

Fertilizers have officially made a comeback… well POT atleast. Today this leader broke to new highs and closed at new highs on good volume.

Stocks CF and MOS are the ones to watch now.

pot-040308.png

LDK Solar (LDK)

I mentioned LDK last week at $27.24, and today the stock had a great break past $30 to close above its 50 day moving average. A lot of potential for this stock moving forward.

ldk-040308.png

CSX Corp (CSX)

CSX is up just over $8 since originally mentioning it with the break at $50.50. I would still be catious with my profits in this stock, and don’t be afraid to take some money off the table.

csx-040308.png

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