MCP, DG, AAPL, WAMUQ, TOFS
Apple Computer (AAPL:NASDAQ) Apple is ripping again. But is a blowoff top in the works ? Volume would have to be near the 30 million mark for that to happen. For now though, it’s probably best not to short this juggernaut because there is no reason to be a hero. Plus the talk about testing the $500 psyche level are starting. Watch for more upgrades from the herd.
Molycorp (MCP:NYSE) Shares are smashed after the cut by JP Morgan and MCP is starting to look oversold. In addition rare earth prices are falling. However, MCP President and CEO Mark Smith will be testifying before Congress tomorrow about rare earth supplies. So short covering isn’t out of the question.
Dollar General (DG:NYSE) The stock has made a nice move since the Warren Buffet buys, but still needs to retest and break $38.59 on heavy volume to prove that this breakout is for real.
Washington Mutual (WAMUQ:PK) We mention this zombie penny stock frequently to shed color to our scalper followers. We mention the 7 cent level as the line in the sand and WAMUQ ripped from there only to fall back into the trading range. It’s probably wise to continue to use that level as a guide if you have a long bias.
247MGI (TOFS.PK) Shares of this pink sheets penny stock are building a nice base, but are currently down on Tuesday. The news of entering into a billion dollar industry is fluffy, but I have seen worse. Right now TOFS is currently the most active IHUB message board, so it could turn into a decent trading vehicle.
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