BAC, GLD, MS, SAVW, VGPR
Bank Of America (BAC:NYSE) BAC had a wonderful rebound today and almost recovered all of yesterday’s loss. The CEO (Moynihan) also did a decent job after the close with a CNBC interview that seemed to ease fears. BAC will remain a catalyst in the movement of the broader market’s averages, but the company is not out of the woods just yet. Remember, BAC has a major CC tomorrow.
SPDR Gold Trust (GLD:NYSE) The grandaddy of all precious metals ETF’s may have seen an end to it’s parabolic move. There was much talk of a rotation out of silver and into gold, but now we could see a little profit taking in both. The overseas markets could dictate tomorrow’s action. Add GLD to your ETF list if you haven’t already.
Morgan Stanley (MS:NYSE) Morgan has been a darling for hedge fund channel traders who used the $22 handle as support. That level has obviously been broken, but the company’s CFO did make a fairly significant insider purchase in the open market last week at an average price of $20.50. MS could be a tremendous bounce candidate.
Savwatt (SAVW.OB) Is a frequent member of our stocks to watch list and has a large IHUB message board following. SAVW was once again the most active of the bulletin board penny stocks and seems to have formed a mini bottom on a technical basis. If the hot money comes back into the market tomorrow, SAVW could see additional long penny stock scalpers step in for a taste.
Vega Biofuels (VGPR.PK) This green energy penny stock play is quite active, but is trading near it’s 52 week lows despite a PR on Monday about opening a Georgia based Bio-Coal plant. Hype aside, it could be tough for VGPR to gain any sort of traction for it’s story with crude prices declining. However, you should still add VGPR to your penny stock list.
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