DeWayne Reeves'  Instablog

DeWayne Reeves
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DeWayne Reeves is the founder of CFRN and host of a popular radio program heard daily in over 20 countries. A former equities trader, he has focused primarily on the S&P 500 Emini Futures Market for the past 5 years. His insights and trading methodology are a blend of traditional technical... More
My company:
CFRN - Christian Financial Radio Network
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Christian Financial Radio Network
  • Bargain Basement High Five 0 comments
    Jun 29, 2012 9:06 AM | about stocks: DY, KEG, LSIC, MWW

    S&P 500 Futures are up 20 points overnight as European leaders agree to bring down Italy's and Spain's borrowing costs and create a single banking supervisory body for the euro zone. This rally may fizzle in the short term but as we've said all along, there will be a solution.

    Merkel returns to Berlin on Friday where she faces a key vote in parliament to approve the euro zone's new permanent bailout mechanism. Voting begins at 5 pm CET. The road ahead is rocky and uncertain at best. However, where we live, uncertain times are by far the best time to find value stocks that have been knocked down but not knocked out.

    Magnum Hunter Resources (MHR)

    (click to enlarge)

    Consider buying $4.25 Stop / Stop Loss $3.75 / Initial Target $5.75

    Key Energy Services (KEG)

    (click to enlarge)

    Consider buying $10.50 Stop / Stop Loss $8.75 / Initial Target $16.00

    Dycom Industries Inc. (NYSE:DY)

    (click to enlarge)

    Consider buying $20.75 Stop / Stop Loss $17.40 / Initial Target $22.50

    LSI Corp. (NYSE:LSI)

    (click to enlarge)

    Monster Worldwide Inc. (NYSE:MWW)

    (click to enlarge)

    Consider buying $8.75 Stop / Stop Loss $7.90 / Initial Target $10.00

    Investing is risky and you can lose all your money. Believe it.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: DY, KEG, LSIC, MWW
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