Daily Form April 16, 2008

Profit Patterns and Risk Management For Active Traders
Trade successfully without having to be right about the underlying market direction
WEDNESDAY APRIL 16, 2008       05:55 ET

The converged short term moving averages provided the anticipated support for the S&P 400 Midcap index (^MID).

Hot inflation data hit the long end of the Treasury spectrum yesterday and over the last two sessions the yield on the thirty year bond has moved up by eleven basis points and peeked above the downward sloping 50 day EMA of yields.

Also finding support at key moving average levels the FTSE 100 in the UK (^FTSE) managed a 1.3% gain yesterday and as of current writing is pushing further ahead.


The patterns identified below should be considered as indicative of eventual price direction in forthcoming trading sessions. None of these setups should be seen as specifically opportune for the current trading session.
For full details on time horizons, risk management and hedging techniques please visit http://www.tradewithform.com

DRIV  Digital River Inc  

Yesterday’s comment that "Digital River (DRIV) looks to be headed down to probe potential support at the February lows" proved to be timely.

ATK  Alliant Tech Sys Inc  

Alliant Tech Systems (ATK) has reached down to a key support level at which level it may find some buying interest.

BAX  Baxter International Inc.  

Baxter International (BAX) has a similar story to the one above for ATK.

INTC  Intel Corporation  

Intel (INTC) is in a constricted range and following upbeat earnings the stock could move out of the range and battle its way through overhead resistance.