NEM, P, FEEL, POT, WAMUQ
Newmont Mining (NEM:NYSE) There was a lot of red on the screen today, and gold was only up marginally. NEM often lags behind the performance of the precious yellow metal for a day or even two, but today was different, both NEM and SPDR Gold Trust ETF (GLD:NYSE) had similar returns. NEM has strong support in the low $50 range, but today’s volume might be telling us that there isn’t a ton of conviction in the risk on gold trade.
Pandora (P:NYSE) Pandora is an odd duck, many felt it was a NYSE issue with limited earnings visibility. However, Pandora beat estimates on Thursday evening, and this event could cause some shorts to cover. Please remember that Pandora was a super hot IPO recently, and crumbled from first day highs due to fundamental questions. Put Pandora on your stocks to watch list and check back with PSE for future IPO color.
Feel Golf (FEEL.PK) FEEL had released numbers that were impressive for a pink sheets penny stock. Sales were up and losses were down, and the sub penny name finished Thursday op 33.33%. Add FEEL to your penny stock watchlist.
Potash Corp. (POT:NYSE) Despite the decline in the NYSE, POT and other Ag stocks seemed to have a constructive low volume pullback. Watch the $56.22 level because a break could spur a rally.
Washington Mutual (WAMUQ.PK) The only reason that I am mentioning WAMUQ today, is because of it’s technicals. We all know that WAMUQ is a zombie penny stock, but there are scalpers who make decent living flipping names like this one around. So I will now mention that the 6.5 cent level looks like a line in the sand for those who are currently long.
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