NFLX, POTG, KKD, AVL, JAMN
Krispy Kreme Doughnuts (KKD:NYSE) Many thought with KKD would rally in anticipation of a valuation surge based on the upcoming Dunkin Brands IPO. However, KKD is still under $10 and has a market cap of roughly $615 million. Still, shares of KKD be watched, especially if Dunkin Brands does as well as many think it will.
Portage Resources (POTG.PK) This stock was absolutely a beast earlier in July. Some thought shares of POTG would be the next big promo stock. However, in the last 5 days the chart looks atrocious. Other than a bounce on strong volume earlier on Tuesday, shares of POTG have been in a major downtrend. But, that could change if we see a broader market rally and penny stock traders become more aggressive. Especially, the bounce buyers.
Netflix (NFLX:NASDAQ) Yesterday we highlighted $250 as a contested level in NFLX. Shares held the $25ish level and considering the numbers, staged a little bit of a rally on volume that was almost 3x the norm. Maybe the rally was caused by bounce buyers ? Or maybe it was simply short covering ? Either way the sidelines might be the best place to be.
Avalon Rare Metals (AVL:AMEX) AVL is one of the lower priced legitimate rare earth stocks in the market. Shares rallied sharply after news of General Electric (GE:NYSE) apparently issued a paper on rare earth prices increasing. These stocks can go crazy and create massive gains for longs when the stars align, but we are still in a weak market. The $7 level also seems to create resistance.
Jammin Java (JAMN:OB) JAMN has been nothing less than a disaster for those who didn’t sell into the rally, and the message board community is extremely negative on the name. Will this sentiment and the Wednesday’s Dunkin Brands create a bounce ? Will the naked shorts finally cover ? Add JAMN to you penny stock list on a just in case basis.
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