Z, FCX, SLV, HFBG, LTUM
Zillow (Z:NYSE) This extremely oversubscribed IPO, while expected to be hot, exceeded some expectations and closed up almost 79%. Allocations were tiny, but shares of Z still fell a little in the late afternoon, but the name still could catch the eyes of swing traders. Social media IPO players will now focus on the Groupon IPO and Zynga IPO. Check back with us for more IPO color on these two deals.
Freeport McMoRan (FCX:NYSE) FCX has and always will be a market barometer, but some novice traders don’t realize how volatile this name actually is. FCX will report on Thursday and the street is looking for $1.33. Shares of FCX are very close to breaking out, but there is a built in double top formation in the way. Good numbers could negate this technical pattern, but trading FCX has never been for the feint of heart.
IShares Silver Trust (SLV:NYSE) If you follow gold bugs and commodity newsletters it would make a ton of sense to buy not only silver, but gold too. Dorsey Wright called for a technical based reversal in SLV in the low $30′s and Porter Stansberry has been calling for a furious commodity rise for a while. At this point the charts look bullish and if we see a break of yesterday’s highs, a return to the $40′s is very possible. Keep in mind that the bullish sentiment in precious metals could change in minutes.
Hall of Fame Beverages (HFBG.PK) This once trendy, hot penny stock was up 25% Wednesday on news of an agreement to sell Sweet Tea in Red Robin restaurants. The CEO also made some fairly positive shareholder friendly comments. The Investors Hub message boards still have not heated up despite today’s volume and performance. So add HFBG to your penny stock list in case a promotion starts or more news is released.
Lithium Corp (LTUM.OB) Just when you think this once hot lithium penny stock has started to breakout, it gets deader than a door knob. Shares of LTUM have rebounded and if the space gets hot again this stock could be a mover. However, today’s volume was simply pathetic. Once again add LTUM to your penny stock list on a just in case basis.
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