Stock Picks And Trade Ideas For Wednesday - NOVL, EZPW, BOOM

Early in the morning I read something that made me feel really concerned. One of the best European managers of global operations, Alexander Kapfer, believes that the veto of the plan to rescue the U.S. economy in the amount of 700 billion dollars “is a disaster.” For the manager, the engine of world markets is getting “out of fuel.” Alexander Kapfer is recognized as “star manager” of the German boutique Atkien and responsible for one of the best European equity funds worldwide, the FIVV AKTIEN IU Global Select Fund. Alexander Kapfer summarized in a nutshell the decision of the House of Representatives: “It’s a disaster,” says the magazine Citiwyre. This guy believes that politicians have not realized the gravity of the situation of the financial system. And use of the image: “We are like an engine that now, is running out of fuel and will break down at any time. The only thing the Fed can do now is establish that a further deposit will be added.”

The manager also fears that Europe will be more affected than the United States itself, since the European politicians have lost the opportunity to carry out the necessary reforms during the good and now with the economy on the brink of a recession, says is unlikely to be willing to invest.

Please see below some trade Ideas for tomorrow (Wednesday).

Chart courtesy of stockcharts ( click to enlarge )

Dynamic Materials (BOOM) - BOOM moves in a downward channel targeting the support at $22.12. The middle line of the channel acts as a strong resistance around $24.73. The stock is still in bear market as MACD and signal line are both below 0.

Chart courtesy of stockcharts ( click to enlarge )

EZCORP (EZPW) - The stock is now set up nicely in a base for a potential breakout, so keep an eye for a possible breakout over $19.

Chart courtesy of stockcharts ( click to enlarge )

Novell (NOVL) - The stock reversed strongly to move to my short-term resistance at $5.20. Although this trend is encouraging, the near-term outlook stays cautious till the stock closes conclusively above $5.20 on heavy volume.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

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