RAYS, AAPL, TQNT, GOOG, JPM
Raystream (RAYS:OB) RAYS is currently flat in what seems to be the fifth day of the promo. The volume is a little lighter than we have seen this week, which may be a surprise to some because of RAYS massive promo budget. It’s hard to give technical reads on such a young chart, but use $1.36 as a support level for now. Keep RAYS on your penny stock list.
Apple Computer (AAPL:NASDAQ) We highlighted the fact that a run might be made on AAPL‘s buy stops at the $400 level when the stock was much lower. It seems now that the longs have the advantage, and Wall St. has more confidence in the company’s transition from Steve Jobs’s unfortunate death. Just remember that a double top has formed on the daily charts.
Triquent Semiconductor (TQNT:NASDAQ) Steve Najarian recommended going long TQNT @ $7 at lunch on CNBC. TQNT is a great way to play AAPL if you have limited funds. A decent day on Monday could easily cause TQNT to test it’s Friday high of $7.76. Traders often have so much going on that they forget to follow AAPL sympathy plays until it’s too late. Always keep TQNT on your list of stocks if you are one of those types who religiously follow AAPL.
Google (GOOG:NASDAQ) On the daily charts, GOOG broke out today after strong earnings. Even naysayers and bears have to respect today’s move. However, there is still a downside gap to be filled @ $559.00. On the flip side, a few upgrades from the major firms could lead to a test of the $600 level.
JP Morgan (JPM:NYSE) I just want to touch on JPM because it looks so weak on an up day for the broader averages. Keep in mind that it’s difficult for the market to move higher if the banks don’t participate. A break of $30.92 signals a lower low, and could foreshadow a retest of our recent Dow and SPY lows.
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