BRCD, GLG, SLW, CLWR, NNAN
Brocade Communication Systems (BRCD:NASDAQ) This sub $5 stock looks like it’s oversold and is forming a little bit of a short term base. BRCD was smashed on 8/5/11 and has an upside gap to fill in the $4.90 range. Earnings were on the upper end of the guidance range, so BRCD might be appealing to some low priced NASDAQ bottom fishers at these levels.
S&P 500 Gold Trust ETF (GLD:NYSE) Is this the end for the flagship precious metal ETF ? Or is this just a constructive pullback that will lead bears into a trap ? Dennis Gartman think Gold goes much lower from here and he’s not alone, but as long as margin requirements aren’t raised, a bounce wouldn’t surprise many. Still, it might be best to wait for Jackson Hole before taking a big position in GLD, regardless of your bias.
Silver Wheaton (SLW:NYSE) The silver streamer held the critical $36 level once on Wednesday, but the iShares Silver Trust (SLV:NYSE) looks like it’s starting to breakdown after making a futile attempt to re-test it’s historic highs. Remember, it’s hard to make money being long silver when you have low inflation and low growth.
Clearwire (CLWR:NASDAQ) CLWR might be a little overbought at these levels, but monitor the Sprint/Apple situation for a better read on Clearwire. If the situation pans out favorably for Sprint, CLWR has a shot of putting up hot penny stock like returns.
NaturalNano (NNAN.OB) Shares of NNAN ripped today due to anticipation of a presentation at a cancer summit. Just remember that cancer related penny stocks are often best used as trading vehicles, not investments. Add NNAN to your hot sub penny stock list.
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