A little late with the analysis of Jim Cramer's picks, so here are his current crop of candidates; Bullish: Copano Energy (NASDAQ:CPNO), Skyworks Solutions (NASDAQ:SWKS), MGM (NYSE:MGM), Las Vegas Sands (NYSE:LVS), and Wynn Resorts (NASDAQ:WYNN); Bearish: Acme Packet (NASDAQ:APKT) and Melco Crown Entertainment (MPEL).
|Stock||No. of |
|Average Return |
Per Trade (> 5 day)
The five day projection is modestly higher. Best of the picks is MGM (MGM) with a 64% projection for higher prices at the end of day 1 (today) and by day five (next Wednesday's close). The Pattern of Wynn Resorts (WYNN) had a 61% projection for a higher close by day five.
None of the trading Patterns have a particularly strong outlook on a percentage return basis. The Pattern for Copano Energy (CPNO) returned 61% winners with an Average Return Per Trade of 4.7% (based on a trade using an initial stop of 10% adjusting to 5% after a 15% gain, with an ultimate profit target of 25%). Wynn Resorts (WYNN) was next on 4.6%. MGM (MGM), despite its predicted strong five day performance, only offered an Average Return Per Trade of 2.1%
With markets heading lower, including MGM (MGM), this might be one set of picks to sit tight on.