RIMM, NEM, IR, EQY, WAMUQ
Research in Motion (RIMM:NASDAQ) Shares are up sharply on the rumor of an Icahn stake. We have highlighted RIMM frequently for a while, and also mentioned that some felt the $20 handle was in play. Well last week RIMM came very close. But are shorts throwing in the towel ? Well if Carl Icahn buys they might. At this point there does seem to be some short term support in the $22 range.
Newmont Mining (NEM:NYSE) Some gutsy traders stepped into gold stocks for a taste on the recent slide, but have seen mixed results. NEM is currently trading lower despite in a nice move in the precious yellow metal. Keep in mind that NEM sometimes lags the underlying commodity for a day or so. There is also an upside gap to fill at $67.58.
Ingersoll Rand (IR:NYSE) IR is a nice liquid, listed trading stock that isn’t mentioned often. Shares have recently formed a nice rally of a short term bottom. However, that could be reversed if IR rallies to the $35 level, which may give some shorts a tasty short term signal.
Equity One (EQY:NYSE) Shares of the REIT ripped today after a sale of some of the company’s properties. EON was talked up by analysts and might be attractive to some who can’t find a decent yield in this bond market. Just watch $17.49 as a resistance level.
Washington Mutual (WAMUQ:PK) The king of zombie penny stocks is having a nice day so far. The volume isn’t quite there to confirm a rally, and some longs might be eyeing the upside gap fill number of .087 as an exit point. Always have WAMUQ on your penny stock list. Especially if you are a scalper.
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