CRWV, CLWR, JOYG, F, POT
Clearwire (CLWR:NASDAQ) We highlighted CLWR recently, as a potential Sprint sympathy play, but we didn’t see what was coming today. The U.S. Justice Department filed to block ATT’s (T:NYSE) acquisition of T-Mobile. This news is a positive catalyst for the floundering CLWR. Clearwire attracts hot money and penny stock traders, so the action might be volatile for the short term.You can use the $2.47 support level as a gauge for support.
Joy Global (JOYG:NASADAQ) Many traders don’t realize how volatile JOYG actually is until they are in the position. Today, JOYG announced that it’s Q3 surface mining numbers doubled. However, shares have currently faded since it’s strong open. Longs should remember that there now is a double top in the $88.35 range.
Ford Motor Company (F:NYSE) Ford has sort of fallen off of traders radar screens since the General Motors IPO (GM:NYSE). However, shares are showing some life on Wednesday, and a close above $11.22 could be viewed as extremely bullish for F.
Crowne Ventures (CRWV.PK) CRWV is currently the talk of the penny stock community, and we posted pieces on this speculative name. Remember to watch the technicals on this one even though it seems to be a bit oversold to the naked eye. The 2 and 4 cent levels are guides of where to start.
Potash Corp. (POT:NYSE) We frequently touch on POT because it’s a favorite son of prop and day traders, who love to play the name from both the long and short side depending on market conditions. Many would figure that John Paulson’s new position in Mosaic (MOS:NYSE) would bet the Ag bulls going, but today’s action has told us a different story so far. Although, an upside break of $61.82 would be a positive catalyst for POT.
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