STOCKS TO WATCH – IBM, SPY

 

IBM, SPY, CLWR, POT, AAPL


International Business Machines (IBM:NYSE) A revenue miss by IBM is never good for the market. But is this a pause for refresh after the recent market rally ? There seems to be some support in the $170 area, but $167 looks like the line in the sand for current longs. Buy stop orders could be run from there.

S&P 500 ETF (SPY:NYSE) Don’t get me wrong, today didn’t look good, but the large decline wasn’t exactly facilitated on heavy volume. The $119.50 area seems to be the first level of support, but it looks hit or miss from here. The sidelines are sometimes the best place to be if you are a short term trader.

Clearwire (CLWR:NASDAQ) This heavily followed penny stock didn’t test the psyche level of $1, but still seems to be retracing. However, Rule 201 could dissuade further shorting and even cause some bears to finally cash in and cover.

Potash (POT:NYSE) Recently, every time the Ag stocks look good, they don’t follow through and fall back. The group seems to still be in a bottoming, basing pattern, so you need to have some patience if long biased.

Apple Computer (AAPL:NASDAQ) Shares were off today, but outperformed most if you look at the percentage basis. We highlighted AAPL‘s double top last week, but this stock often bucks trends when traders become bearish. Keep AAPL on your list of stocks just in case we see a reversal on Tuesday.

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STOCKS TO WATCH – AERN, MCP

 

AERN, MCP, CLWR, POT


AER Energy Resources (AERN.OB) AERN has been an extremely hot penny stock, but the continued high volume of promo emails is alarming to some. Shares are up over 20 percent at the time of this entry, but the Reg Sho, Rule 201 is now in effect. Rule 201 is often a sign of naked short selling. Keep your eye on this one for no other reason than to watch the outcome of bears versus bulls. The 12 cent range also shows a fairly strong resistance level.

Molycorp (MCP:NYSE) In the last two weeks, rare earth stocks have gone from riches to rags. Now they seem to be on their way back to prosperity. A break of $39.68 would be huge for MCP longs, but the recent volume has been light. However, the political sentiment out of Washington seems to favor this group. Especially because China, for all intensive purposes, has essentially been on the other side of the market in regards to the commodity.

Clearwire (CLWR:NYSE) This once trendy NASDAQ small cap name is now a penny stock in the truest sense of the words. Longs should beware that tax selling season is close and those $1 stop loss orders could be tested at some point, partially because so much hot money is underwater now.

Potash (POT:NYSE) The flagship Ag name is trading nicely today on huge volume. A solid break of the psyche level of $50 dollars is still needed, but the reversal off of the capitulation like bottom of $39.58 looks impressive on a technical basis. Keep POT on your list of stocks for swing trading purposes.

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STOCKS TO WATCH – MCP, CLWR

 

NFLX, MCP, GS, NYX, CLWR


Netflix (NFLX:NASDAQ) As of this morning, shares of NFLX are rallying on the open, despite the broader averages being down sharply. It might not be time to act yet, but keep in mind that NFLX was over $300 this past summer. There does seem to be several layers of support in the low $100 range.

Molycorp (MCP:NYSE) Many were predicting a bubble in the space, but many thought it would come at higher prices. MCP remains a tremendous trading stock despite pricing pressure. There seems to be some support in the $30ish range.

Goldman Sachs (GS:NYSE) There is an opinion out there that if you believe in America, you buy stocks like GS when they are beaten up. Well if you like the financials, GS might be your play. However, the stock could be in trouble if it breaks the $86 range.

NYSE Euronext (NYX:NYSE) As most know, exchanges are super market sensitive in market declines. Just keep in mind that this merger stock is still paying more than a 4% yield. John Paulson also has a stake in the name.

Clearwire (CLWR:NASDAQ) We frequently touch on CLWR and have not been fans of the name. Even after the Sprint (S:NYSE) related hype came in. But right now, CLWR has and upside gap to fill at $2.30, and the company does have a cult like following of low priced bottom fishers. Use the $2 level as a gauge for support in case the is a run on stop orders.

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STOCKS IN PLAY – RIMM, CLWR

 

RIMM, CLWR, PYMX, AAPL, JPM

 
Research In Motion (RIMM:NASDAQ) In prior entries we touched on the probability that the $20 handle on RIMM could be in play. Despite the stock being higher. Although right now, $20 isn’t too far away. Even at these levels, RIMM looks like a value trap. Stay on the sidelines if you have a long bias, and don’t get sucked in by another stock buyback or if other shareholder friendly actions are announced, because they never seem to work for RIMM.
 
Clearwire (CLWR:NASDAQ) We have touched on this low priced name before, and it’s relation to Sprint (S:NYSE). At this point, it would take a major news story to move CLWR. Mainly because there is a downside gap to fill at $2.06. The sidelines are best place to be on this penny stock.
 
Polymedix (PYMX.OB) This biotech penny stock is building a nice base and has set a number of higher highs on PR’s. PYMX could develop into a nice trading vehicle, but this recent uptrend has been on light volume. A break of the high’s is needed, and the volume needs to be in excess of 500k for a true trend to start. Either way, add PYMX to your penny stock list.

Apple Computer (AAPL:NASDAQ) A break of the $400 handle should spur cable talking heads and some short covering. This stock is a beast and who knows where AAPL could go if you Europe becomes calm again. Just remember that a lot of the low hanging fruit is already gone.

JP Morgan (JPM:NYSE) JPM has staged a nice rally off it’s short term bottom of $31.20. But where does it go from here ? A break of of $35 could lead to an upside gap fill at $36.29. Always watch JPM as a read for other bank stocks.

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Stocks in Play Wednesday YHOO, GLD

YHOO, FIND, CLWR, ETF, MEDT


Yahoo (YHOO:NASDAQ) Not so long ago Carol Bartz was deemed the savior of YHOO. Well things change quickly. Bartz failed to unlock the perceived shareholder value in YHOO and shares are not too far from 52 week lows. Watch for potential takeover rumors to develop when a new CEO is announced.

Findex (FIND.OB) Our subscribers knocked it out of the ballpark on Friday when we released FIND as a PSE subscriber alert to savvy sub penny investors. We mentioned to not buy the gap up and it worked perfectly as many took huge profits. FIND was off today, as profit taking prevailed, but could remain a quality trading vehicle for penny scalpers. Keep FIND on your penny stock list just in case we decide to go back in to this penny tech name.

Clearwire (CLWR:NASDAQ) Shares of CLWR are starting to look like dead money at best again. CLWR share price failed to capitalize on the recent misfortune of AT&T. Some small insider selling of CLWR also showed up. Once again this name is one that should be avoided. There are far better bargains with less debt out there.

Gold Trust ETF (GLD:NYSE) A reversal to the downside like GLD had today is usually not a bullish sign on a short term basis. Even for the strongest goldbugs. It looks as if the trend of GLD going opposite the broader markets is still in place. Wednesday’s action in GLD could be interesting with Obama’s new job package in play. Short term traders should remember that there is a downside gap to fill right below $178.

Mediatechnics (MEDT) MEDT is the currently the most active IHUB message board and they came out with some fluffy solar related news last week. But shares have been strong and are currently in an uptrend. MEDT closed up 32% on Tuesday, and are close to breaking out of sub penny land. Remember to use these sub penny stocks as trading vehicle, because they can get ugly when the music stops.

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