The above chart of the S&P 500 (click to enlarge) shows that the market has rallied after testing the opening range of the year. The market is now above the 200 day moving average and right up against the 50 day moving average. This 50 day moving average is a key area to watch and it coincides with the 1476.76 level which was established as a target from the opening range from the beginning of the 2007 calendar year. This should be a light volume week ahead of the Labor Day Holiday weekend.
The two stocks below might be a couple possible winners in the week ahead. With light trading for the pre-holiday week, momentum stocks might have few traders willing to short early in the week.
ASEI - American Science and Engineering, Inc. (AS&E), develops, manufactures, markets and sells X-ray inspection and other inspection solutions, and provides maintenance, warranty, research, engineering, and training services related to these solutions. The Company manufactures a range of X-ray inspection products that can be used to inspect parcels, baggage, vehicles, pallets, cargo containers and people. The Company sells its products in the United States and worldwide to a variety of customers, including authorities responsible for port and border security; aviation security agencies; military organizations, and high threat commercial and government facilities. The Company's products and services is grouped into six different areas, including CargoSearch Inspection Systems, Z Backscatter Systems, ParcelSearch Inspection Systems, Personnel Inspection, Content Research and Development, and Service and Support.
MENT - Mentor Graphics Corporation is engaged in electronic design automation (EDA), and provides software and hardware design solutions. The Company markets its products and services worldwide, primarily to companies in the communications, computer, consumer electronics, semiconductor, networking, multimedia, military/aerospace and transportation industries. Its products are used in the design and development of a set of electronic products. In December 2006, the Company acquired SpiraTech Limited. In October 2006, it acquired Next Device Limited and the technology of Summit Design, Inc. In August 2006, it acquired Router Solutions, Inc. In January 2006, it acquired EverCAD Corporation. In June 2007, the Company acquired Sierra Design Automation (Santa Clara, Calif.), a provider of place and route solutions.
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