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Long and Short Ideas for March 10th with PatternDNA

|Includes: EPD, Freeport-McMoRan Inc. (FCX), GG, GOLD, KMP, PBA, TPX

There were fewer picks from Jim for this week. This week's mix included bullish picks Freeport McMoRan (NYSE:FCX), Provident Energy Trust (PVX), Kinder Morgan Energy Partners (NYSE:KMP), Enterprise Products Partners (NYSE:EPD) and bearish picks, Randgold Resources (NASDAQ:GOLD), Goldcorp (NYSE:GG) and Tempur Pedic International (NYSE:TPX). Jim has swung from bullish to bearish for Goldcorp (GG) in the space of a week.

Stock No. of
Patterns
1-day
% Win
2-day
% Win
5-day
% Win
Average Return
Per Trade (> 5 day)
FCX 54 48 58 67 7.0
PVX 215 59 62 56 4.7
KMP 201 43 51 53 3.2
EPD 130 62 59 72 5.6
GOLD 6 33 33 50 3.0
GG 63 55 53 46 2.4
TPX 163 61 56 63 5.7
 
The overall picture for the next five days is mildly bullish. The Average % Win for Day 5 is 58%. The question is, if true, how far can it go?

The three stocks with a bullish outlook for day 5 (greater than 60% win percentage) are Freeport McMoRan (FCX), Enterprise Products Partners (EPD) and Tempur Pedic International (TPX).

The Average Return per Trade (Average Return Per Trade assumes an initial stop of 10%, raised to 5% off the price reached on a 15% gain. Ultimate Profit Target of 25%) is around 4.5% - up on the 2.6% from last week. The greatest return is on offer from Freeport McMoRan (FCX) with a Pattern - under the aforementioned risk management strategy - returning 73.6% winners and 12.1% per winning trade. Honorable mention to Enterprise Products Partners (EPD) and Tempur Pedic International (TPX) with win percentages of 66.7% and 62.3% respetively.

Randgold Resources (GOLD) had the rarest Pattern, which is projected bearish over the next couple of days. The Average Return per Trade was one of the lowest of the seven. So not much for bulls here. 

Freeport (FCX) looks to have the best prospects through to next Thursday.   Enterprise Products Partners (EPD) and Tempur Pedic International (TPX) are alternative opportunities. We will see if the broader market wants to support these stocks.