CLWR, QQQ, OIH, WAMUQ, MILV
Clearwire (CLWR:NASDAQ) The day after earnings, shares of CLWR have pulled back. Even more so after the CEO’s mid-day comments.Yesterday we highlighted that Wednesday’s move could have been due to short covering and that the $1.64 gap fill still remains in play. A neutral view might be best on CLWR unless you are a micro scalper or rebate trader.
NASDAQ ETF (QQQ:NYSE) The only reason I am mentioning this ETF is that it could be a mover if the Groupon IPO works in a big way. You know as well as I do that the talking heads on cable news can change their opinions quickly. If Groupon trades at a better than expected premium, hedge funds could bid up NASDAQ futures or simply just by the Q’s in anticipation of expanding valuations of upcoming IPO’s with strong VC backers.
Oil Services ETF (OIH:NYSE) Shares of this volatile ETF are up nicely so far today, although on volume too light to claim a reversal. However, if the consensus changes, and the long term view of the economy gets better, then oil stocks might catch a bid. OIH just filled an upside gap, but the chart is very choppy, and it’s hard to make a call for short term swing traders. However, any type of rally could cause a retest of the $136 area.
Washington Mutual (WAMUQ.PK) We keep talking about this zombie penny stock players dream, but it’s been dead for both bulls and bears. Like many bankruptcy plays WAMUQ is prone to year end tax selling, which is starting now. Longs should hope that it holds the 0.067 level holds.
Mistral Ventures (MILV.PK) This low priced stock has all the fixings of a hot penny stock with PR’s about medicine the common cold and very nice chart. But as in all pink sheets plays, the jury is still out. Although shares seem to be making a constructive pullback today, a break of the .10 cent level might be the only thing that will rattle naked shorts unless substantive news is announced or a flu epidemic occurs.
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