Stocks to Watch RIMM, WAMUQ, BAC
Here are some names to add to your list of stocks. The companies are listed below:
Research in Motion (RIMM:NASDAQ) In the past few months, many have said that RIMM was turning into sort of a value trap. Now after today’s disappointing earnings, it looks like the bears were right. There have also been takeover rumors recently, but obviously nothing with of substance. The aftermarket action in RIMM tellls me that me that there is no reason to be in the stock unless you are a true scalper.
Washington Mutual (WAMUQ.PK) Most investors like to truly speculate from time to time, and many do by trying to find the next hot penny stock. However, you must remember, that there are penny stocks, and then there are zombie stocks. Please forgive me if I am wrong, but WAMUQ still looks like a zombie stock to me. Now that doesn’t mean that an astute penny stock scalper can’t make money trading stocks like LEHMQ and WAMUQ, but it’s not for everyone. Despite the settlement news surrounding the company, shares were down over 11%.
Bank of America (BAC:NYSE) BAC was once again by far, the most active stock on the NYSE. Shares held up today and still have not retraced to the $10 psyche level. However, the situation in Greece and potentially Spain are casting a cloud over most U.S. based financials, especially the money center banks. Seems like there is no reason to be long or short unless a catalyst develops.
Capital One (COF:NYSE) The credit card company made a splash today, by getting into the online investing business by purchasing ING Direct for $9 Billion. The street seemed to like the deal as evidenced by COF’s upward move on Thursday. COF also seemed to get the approval of most of the talking heads on cable TV. Add this one to your list of stocks, because COF could really move if a broad uptrend develops.
Jammin Java (JAMN:OB) Despite the recent promo behind this once strong penny stock, the chart looks a little weak, and JAMN is currently near a support level. If this level is violated there isn’t much support until roughly 1.25 and then, right around the dollar range. Charts don’t always coincide with penny stock direction, because many microcaps move on PR’s and news, but a little technical analysis can’t hurt. Add JAMN to your penny stock list regardless of your bias.
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