New Split Drops
| UCBH - UCBH Holdings Incorporated $44.38 -5.44 (-8.75) |
On Wednesday the broad markets sold off sharply, with the Dow Jones Industrial Average (INDU) posting another triple digit loss. During this rush of this selling, UCBH fell $3.13 to close at $49.81. At this level it didn't take much of a fall to hit our stop of $49, which is exactly what happened in today's trading. We will continue to watch this fundamentally sound company for better opportunities in the future.
New Candidate Drops
| GDW - Golden West Financial $56.20 -1.85 (-0.72) |
We were initially impressed with GDW's ability to withstand the selling within the bank sector immediately following the rate cut. Today, renewed concerns about the potential for major Japanese bank failures scared investors enough to knock down domestic banking concerns across the board. If GDW can hold above its 50-DMA of $55.81, we may revisit this play in the future.
New Momentum Drops
| SIAL - Sigma Aldrich Corporation $43.81 -2.06 (-0.56) |
We entered SIAL on the belief that the stock's extended uptrend would persist and that new highs would be established. On the day we picked the stock, just tw days ago, shares had broken into new intraday territory and set an all time high of $47.50. Unfortunately, a rally back to this level was never achieved and SIAL didn't fulfill what the chart indications were telling us. That aside, we feel that Sigma Aldrich is a fundamentally sound company that could yield us plenty of upcoming plays.
Drops Index
