Market Update: Keys To Making Money! (NASDAQ:FSLR), (NYSE:TSN), (NASDAQ:WFMI)

The markets are trending flat to slightly higher today.  The SPDR S&P 500 ETF (NYSE: SPY) is just up .15% while the technology is also slightly higher with the PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ: QQQQ) up just .15% as well.  While the markets are holding steady, there are always different plays that look like they could be the next big money maker.

The first stock I wish to feature is First Solar, Inc. (NASDAQ: FSLR).  This stock has had a massive rebound in just over a week.  With no real major news, it has bounced from a low of $107.25 back to a high today of $126.25.  That is a $19.00 move in just six days.  The key on the chart is to note that First Solar is into the 50 moving average.  After an extended move like this and a hit of the 50 moving average, one must look for a pullback short term. A pullback like this should take it to the $117.00 area.

The next stock I wish to focus on is Tyson Foods, Inc. (NYSE: TSN).  The stock has gone parabolic and is in an uptrend that most stocks only dream about.  At this point, a massive resistance pivot going back to August 2008 is in play at $17.00.  This should serve as the top in my opinion on Tyson Foods.  Expect a solid fall off this level in the range of 10% or more.

The last stock I will feature at this time is Whole Foods Market, Inc. (NASDAQ: WFMI).  Whole Foods Market has continued to rip higher and just yesterday reported outstanding earnings. However, the charts now tell a different story.  WFMI has run into the weekly 200 moving average for the first time in years.  In addition, this happens to coincide with a double top from late 2009 as well at a price of $34.50 - $35.00.  Near term Whole Foods may have some trouble extending its gains.

Gareth Soloway
Chief Market Strategist
InTheMoneyStocks.com