This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

5 Stocks to Trade for Breakout Gains

iShares MSCI Spain ETF

Spain has been getting a lot of attention from traders in the last week or two - and not the good kind. Ballooning borrowing costs for Spanish sovereign debt is being blamed for dragging down equity prices in the eurozone, and in turn here at home. Spanish stocks, and ETFs like the iShares MSCI Spain ETF (EWP) are getting stomped as a result.

Here's what's going on in EWP right now.

Shares of the Spanish exchange traded fund have fallen through two key support levels since the start of April, the first just below $29 and the more recent at $27.50. Missing those support levels tells us that EWP (and its underlying stocks) aren't able to catch a bid at prices that have historically acted as price "floors" for shares; in other words, the pockets of demand at those two levels evaporated when Spain started floundering again.

Last week's pullback looked at first glance like a bullish sign, but in reality, it just reaffirmed newfound resistance at $27.50 and gave short sellers a new low-risk entry point to bet against Spanish equities. EWP is in freefall right now -- now is still a good opportunity for shorting if traders are willing to take on the headline risk of Spain. Otherwise, it makes sense to stay away from this fund for now.

5 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
FXE $108.66 -0.29%
COH $43.21 3.00%
GOLD $73.62 -0.12%
RL $135.00 0.04%
EWP $34.48 0.41%

Markets

DOW 18,140.47 +43.57 0.24%
S&P 500 2,103.14 +4.61 0.22%
NASDAQ 4,989.8950 +22.7540 0.46%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs