CLWR, MOS, JPM, MCP
Clearwire (CLWR:NASDAQ) Shares of Clearwire were up nicely today in anticipation of earnings. In the aftermarket they also remain near where they closed. On the surface CLWR had a decent release. Revenue was up and losses subsided. CLWR also feels they can beat the streets subscriber target of 10 million. But was today’s move higher just short covering before numbers ? Keep in mind that there is still a downside gap to fill at $1.64.
Mosiac (MOS:NYSE) MOS looked great last week and not so hot today. Although there seems to be a basing process going on with the Ag’s, they need to actually break out. Maybe M&A will help the group, but something needs to happen fast before lower lows start getting set.
JP Morgan (JPM:NYSE) Shares of the bell weather financial had a decent day, outperforming the market, but the volume was sort of light for a move of roughly 2.5%. Patience might pay off in this name once the European mess gets off the front page. Bulls might say that the recent pullback was just a gap fill.
Molycorp (MCP:NYSE) Do you realize that you could have bought MCP under $30 earlier this month ? Don’t feel so bad, even speculative traders shy away from names like these on dips. MCP seems to be stabilizing in the mid to high $30′s, but needs something other than higher REE spot prices to really break out. So keep looking for news out of Washington or China for the next move. Also, the $36.50 level looks pretty solid for support.
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