FCX, IR, MSFT, YAHOO, WAMUQ
Freeport MacMoran (FCX:NYSE) Friday should be interesting for FCX, not only because of falling copper prices, but because of what could happen in Europe over the weekend. Well it seems like Deutsche Bank has a different opinion because they were positive on FCX today. Maybe the panic has set in and smart money is starting to dabble.
Ingersoll Rand (IR:NYSE) If you are looking for oversold names, then IR might make your list of stocks. IR had a bad reaction on it’s earnings, but longs might take a shot and use the $26 level as support. Keep in mind that IR will be volatile because of it’s European presence and exposure.
Microsoft (MSFT:NASDAQ) Numbers are out on MSFT and the stock is currently only down fractionally. This could be a sign that the bottom is finally in the market, but the conference call could change that theory quickly. Bears have a point when they mention that the technicals look like a failed breakout.
Yahoo (Yahoo:NASDAQ) Will we finally see a takeover at a price substantially lower than what Jerry Yang refused ? Many tout this name as a major breakup value play and YHOO can play the trump card when it comes to unique visitors. Although, history has shown us recently that the best way to play YHOO is buying on dips and selling on rumors like we are hearing today. Just remember that MSFT has a ton of cash to play with for acquisitions.
Washington Mutual (WAMUQ:PK) We highlight this flagship zombie penny stock frequently due to interest from zombie penny stock scalpers. The support level of 6.5 cents remains in place, but WAMUQ is starting to look very weak for speculative longs who are looking for a swing trade. There are just too many lower highs in this name.
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