STOCKS IN PLAY – OIH, MOS

 

OIH, MOS, PFCB, BAC


Oil Services ETF (OIH:NYSE) Oil has been flying for about a month and many traders feel that a test of the $100 psyche level is possible in the short term. This is obviously good for OIH longs, However, shares of this ETF were under $100 as recently as October and are close to overbought territory. Although, a break of $135.92 on strong volume, might cause some shorts to panic.

Mosiac (MOS:NYSE) It’s the same story over and over again for Mosaic. Shares look strong one week and are about to breakout, and then they decline and look like garbage again. Right now, shares to seem to be in an uptrend again, but need to break $62.65. Some commodity longs have used the Ag stocks as a hideout for exposure in the space, but real conviction is need for MOS for it to be more than a channel trading stock.

PF Chang’s China Bistro (PFCB:NASDAQ) PFCB has been out of favor for a few month’s, and shares have been over $53 within the last 52 weeks. But today’s Landry’s buyout of McCormick & Schmick’s for a 29% premium to Monday’s close might open some eyes to other names. Add PFCB and other restaurant laggards to your list of stocks, just in case M&A heats up.

Bank of America (BAC:NYSE) This last pullback from the high’s was sharp. So unless you are in the long term holder mindset, there are probably better banks to swing trade on the long side. This recent downtrend puts a retest of the $6 handle back in play.

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STOCK ALERTS – MGM, BAC

 

MGM, BAC, AMD, FCX


MGM Mirage (MGM:NYSE) Along with other casino stock laggards, MGM is currently on the NYSE most active list and is down almost 5%. Shares of MGM have remained weak today due to a price cut by Citi. However, MGM does seem to have a ton of support near the $9 handle.

Bank of America (BAC:NYSE) To nobody’s surprise, BAC is at the top of the NYSE most active list. Shares are up nicely today on news of debit card fees to customers. Shares remain in a downtrend and a break of support at $6 could lead to a retest of BAC’s 2009 lows. It just seems like nobody believes their story and volume seems to be coming from rebate traders who used to trade Citigroup (C:NYSE) before the reverse split.

Advanced Micro Devices (AMD:NYSE) Shares are obviously weak after AMD cut guidance. Hedge funds look at guidance as much as the do earnings beats or misses. Just remember, that bottom fishers have stepped into AMD in the past. It doesn’t help that this news came out on a day when the NASDAQ was soft. It just seems like AMD has it’s eyes on the always important $5 level and shorts will be doing their best to run those stop loss orders that are in the immediate vicinity.

Freeport McMoran (FCX:NYSE) Copper seems to be in a bear market and seems to have dragged this dynamic trading stock into a tailspin. Unless you have a long term perspective, there is no reason to be a hero in this name. Many novice traders have stepped into FCX in the past with no idea how volatile and choppy the action can be. A break of $28.35 could really cause some panic selling.

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BAC Warrants

 

BAC Warrants Lower Risk

 
BAC WARRANTS BAC WarrantsThere are various opinions on the fate and performance of Bank of America (BAC:NYSE), traders are lured to the stock, but many don’t realize that BAC Warrants are also attached to the common shares.
 
At this point, PSE is not making a market call on BAC. We are merely pointing out that there are two other ways to play the stock. An investment in BAC warrants would require a smaller cash outlay, and increased leverage. However, the downside risk is a lack of liquidity and zero equity in the stock.
 
By definition, a warrant is security that allows the owner to purchase the underlying equity of the issuer. BAC warrants is almost like an option because it allows the buyer of a particular security to exercise into a predetermined price at a fixed expiration date.
 
On the sentiment side, BAC CEO, Brian Moynihan is trying to work through Ken Lewis’ botched Countrywide Financial acquisition, he’s also sold half of BAC’s position in China Construction Bank, and while he facilitated a deal with Warren Buffett to regain investor confidence, skeptics still remain in the stock. Shares of BAC still currently remain down roughly 15% for the month of August.
 

BAC WARRANTS Trading Aggresive

 
Now at this point you should drop any bias that you have for or against BAC, and just take a peek at these BAC warrants. Only because if the common shares remain newsy and extremely liquid, BAC Warrants will remain a quality trading vehicle for aggressive NYSE buyers and penny stock players a like.
 
Now to cut to the chase, here are the terms of the BAC warrants in question:
 
BAC-WTA have a strike price of $13.30 and expire on 1/16/2019. The BAC warrants are even more speculative than the A series, and might be more suited to the aggressive penny stock investor type. These warrants have a strike price of $30.79 and expire on 0/28/2018.
 
Regardless of your bias, add these two series of BAC Warrants to your watchlist.

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Banks Trading Below Tangible Book Value

 

Below Tangible Book Value Stocks

 
Tangible Book Value Banks Trading Below Tangible Book ValueToday here at PSE, I am releasing an informative piece for traders on some banks that are trading below tangible book value. I realize that there is a difference of opinion on what the true book values of some bank’s actually are, so I will be using numbers off of a research piece from Barclays dated 8/23/11 merely as a guide.
 
On another note, I will not touch on the controversial book value of Bank of America (BAC:NYSE), mainly because of the vast differences in opinion on the street. Here are some names of other bank stocks that are currently trading below tangible book value:
 

FITB, KEY, FHN Below Tangible Book Value

 
Fifth Third (FITB:NASDAQ) The Ohio based super regional has a tangible book value of $10.55 and closed on 8/24/11 at $10.10.
 
KeyCorp (KEY:NYSE) KEY is another Ohio based bank on our list. Shares of KEY are trading below tangible book value of $8.90 and closed on 8/24/11 at $6.46.

First Horizon National (FHN:NYSE) This low priced Memphis based name has a tangible book value of $8.43 and closed on 8/24/11 at $6.79.

Synovus Financial (SNV:NYSE) This Georgia based mid-cap bank has the lowest share price on our list. SNV has a tangible book value of $2.06 and closed on 8/24/11 at $1.36.

Keep in mind that the TBV is a widely debated subject. So take these numbers with a grain of salt. But, if the market corrects again we will be adding more banks that are trading below tangible book value to our list of stocks to watch.

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Breaking News – BAC and AAPL

BAC, AAPL


BAC Breaking News BAC and AAPL
Bank of America (BAC:NYSE) Buffet buys and lends confidence to the name, but BAC CEO Moynihan loses credibility at the same time. How weird is this ? Fast Money’s Cortes and Najarian were not very bullish for the short term, so the early AM move might signal nothing more than a short covering pop. Just remember, even though Buffet hit home runs with Goldman Sachs (GS:NYSE) and General Electric (GE:NYSE) during the Lehman Crisis, the Oracle of Omaha still receives better terms on his purchases than the Average Joe does. So take this booster shot with lightly if you have a short term perspective. Also watch for an upcoming piece from PSE on BAC Warrants.


aapl Breaking News BAC and AAPLApple Computer (AAPL:NYSE) The Steve Jobs news has essentially been baked into the cake for some time. Weak hands seemed to be the cause of the $357.00 print earlier on Thursday, and shares of AAPL have consequently rebounded. In other words, this move somewhat was expected and bottom fishers stepped in and were rewarded handsomely. On a technical basis, the weekly chart shows that AAPL has tremendous support in the low $350′s range. Remember that even though skeptics will say AAPL is done, they still have $76 billion in cash reserves and products that stores can’t keep on the shelves.
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