Stocks to Watch NOK, RPC, AAPL
Here are some stocks to watch that range from blue chips to penny stocks. The names are listed below:
Research In Motion (RIMM:NASDAQ) We mentioned this name last week and want to remind you that there are very few reasons to attempt to catch a falling knife. RIMM is viewed by some bears as a value trap, and other skeptics as the next Nokia (NOK:NYSE). Even if we see a dead cat bounce, RIMM looks like dead money to me from here and is probably viewed best from the sidelines.
Jammin Java (JAMN:OB) Coffee stocks made a nice move last week and there potentially is a Dunkin Brands IPO coming in the near future. This once hot penny stock could potentially make a sympathy move if the stars align correctly. Or if more promo dollars come in. ADD JAMN to your list of stocks, and monitor just in case we see a breakout.
Nokia (NOK:NYSE) Shares of Nokia seem to trade in an eerily similar fashion to RIMM and are near 52 week lows. However it’s NYSE listing and low price per share have continued to draw in speculative longs. One thing to remember is that NOK is out of favor and the stock loses marginablilty if it breaks the $5 level.
Radient Pharmaceuticicals (RPC:AMEX) This once hot AMEX penny stock was one of our best alerts on a percentage basis a long while back, but failed to follow through. Shares of RPC gapped up Friday morning and still have bounce potential, despite being out of favor with many penny stock traders. RPC seems to move when you least expect it, so it’s wise to keep the name on your watchlist, despite the weak fundamentals.
Apple Computer (AAPL:NASDAQ) As of Friday’s close, shares of AAPL are almost 40 points off the 52 week highs. It seems like the easy money swing trades of the past are gone. Traders from the long side also seem to get nervous when AAPL breaks 320 and trades in the “teens”, mainly because the psyche level of $300 is not to far below. For now, especially with the uncertainty in Europe, it’s probably best to watch.
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