Stocks for the Noncommittal

The broad market was recently trading higher today, just above mid-range for the month. That, along with recent volume and breadth indications, would suggest there is little conviction one way or the other on its short-term direction. With that in mind, I want to look at two stocks that don't require a lot of conviction to trade. They are speculative plays that only require appropriate position size, close monitoring and a commitment to a quick profit or loss.

Vertex Pharmaceuticals (VRTX) -- Daily Source: StockCharts.com View Chart » View in New Window »

This past December, shares of biotechnology company Vertex Pharmaceuticals (VRTX) broke out of a cup-and-handle formation, continuing through their 200-day moving average to make a new all-time high in January of this year. The stock then pulled back to retest the average and attempted a bounce, which failed, and the price sank back down to the $76.25 area. This is an important level of support, because its marks the February low, it coincides with the 200-day moving average and it is a 38% retracement of the November 2013 low and this year's January high....227 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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