NFLX, CLWR, GS, WAMUQ
Netflix (NFLX:NASDAQ) We have touched on this name many times in previous entries, but the sentiment was neutral then. Bulls and bears were at each others throats, but now it seems if longs have run for the hills. Despite Rule 201 being in effect (Which often is a sign of previous naked shorting) , today’s bounce of roughly 2.5% in NFLX could be viewed by some as a dead cat bounce with no substance. The upside gap fill is also so far away that it isn’t even worth taking about. So unless you are a risk taking bottom fisher, or a scalper, the best way to play NFLX might be from the sidelines. Regardless of your bias.
Clearwire (CLWR:NASDAQ) CLWR has been a stock that many low priced NASDAQ traders have been attracted to for some time. CLWR seems to have a riff with Sprint (S:NYSE) whuch might have been already priced into the decline. On the other hand though, CLWR did come out with some relatively nice numbers that caused a surge. Was the rally legit ? Or did it come from short covering ? A close of $2.20 could change sentiment, but resistance seems to be lined up near the $ 2.60 range.
Goldman Sachs (GS:NYSE) The chart of GS is showing a small reversal, and this is a stocks that hedge funds and PM’s love to jump on if sentiment changes. However there is a ton of resistance in the $120ish range. So longs might only want to consider GS as a swing trade for now.
Washinton Mutual (WAMUQ:PK) WAMUQ has been a penny stock scalpers dream for a while. Shares seem to be in a downtrend and can only be viewed as neutral at best by the most optimistic longs. However, the 6.5 cent support range that we have mentioned several times, really hasn’t been violated yet. Even though WAMUQ should probably only be viewed by scalpers, the shares should still be watched on penny stock lists.
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