by Sam Collins 07/17/08
ING Groep N.V. (ING) -- This international banking, investment, life insurance, and retirement services company has fallen from $46 in October to just under $29 on July 16. But earnings have held up well despite the downturn in financials.
There is a possibility of a double-bottom Wednesday, which is supported by a buy signal from our internal indicator, the Collins Bollinger Reversal (CBR), and a strong stochastic buy signal.
Traders may want to jump on ING for a quick trade from $31 to $36 but longer-term buyers have a one-year target of $40 or higher.
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FAST is now consolidating and recently flashed a buy signal from our internal indicator.
Options Expiration Adds Volatility
The opening looks to be higher but today is options expiration day, and anything could happen.
Chances are high stocks will sell off further, but be alert for a dead-cat bounce after such a dramatic breakdown.
Traders and longer-term investors should sell any new positions at the first opportunity and short ETFs on a temporary recovery in the market.
CAT, the blue-chip of its industry, is the first to attract attention when it's time to dress up a portfolio.
