Friday, May 11, 2007

2 Similar Buys in CTXS and NMX

Both of the stocks mentioned are coming down to support making them look like good solid buys around these levels.

Individually....

CTXS is coming down to support in a previous consolidation range at 31. The support is clear allowing a stiff entry and exit strategy. I'd look to get in at around 31 and stop out a few percent below.

I've previously written about NMX but I wanted to update as it got down to buy levels. NMX actually hit the level yesterday that I said to buy at (around 118). It's up a bit to 121 this morning, but I feel it will come down again to hit those levels and quite possibly a bit lower soon. NMX has great support at 118 but also has further support beneath it making it a bit more complicated trade. What you could do to play this is buy half here at 118 and then see if it falls any lower (the lowest I see is 115) to buy down there.

That's all for now. I'll be back in a bit.

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