MET, AAPL, AMAT, JAMN, WAMUQ
MetLife (MET:NYSE) Had a nice bounce today after hitting a 52 week low on Tuesday. Shares of MET were up over 6% on Wednesday, but the volume looked like there was some short covering involved. If you are bullish on the insurance companies, take a peek at our AIG Warrants entry.
Apple Computer (AAPL:NASDAQ) It’s hard to get excited about a rally when AAPL under performs the broader averages on light volume. Sit tight on AAPL for now if you have a short term time frame. Plus, there is some resistance in the $390 area.
Applied Materials (AMAT:NASDAQ) Back in the day, AMAT was a one decision stock. But recently, shares were starting to look like a value trap, especially after lowering guidance. AMAT has been dead for some time, but has built a decent base near these levels and pays nearly a 3% dividend. Add AMAT to you list of stocks.
Jammin Java (JAMN:OB) I hate to keep beating a dead horse, but JAMN is currently dead. Add news like Rohan Marley’s salary to he mix, and you have the potential for a dead penny stock. The name still has some interest because so many people own it higher, but the tape action looks worse and worse. Watch the downside gap fill at .71 cents and add JAMN to your penny stock list.
Washington Mutual (WAMUQ.PK) Forget the fundamentals with WAMUQ, just watch the news flow and charts. We highlighted the crucial 7 cent level in a previous entry, and that’s where WAMUQ closed on Wednesday. This level should act as support, but if it breaks, a re-test of year lows could be in the mix.
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