STOCKS IN PLAY – FCX, IR

 

FCX, IR, MSFT, YAHOO, WAMUQ


Freeport MacMoran (FCX:NYSE) Friday should be interesting for FCX, not only because of falling copper prices, but because of what could happen in Europe over the weekend. Well it seems like Deutsche Bank has a different opinion because they were positive on FCX today. Maybe the panic has set in and smart money is starting to dabble.

Ingersoll Rand (IR:NYSE) If you are looking for oversold names, then IR might make your list of stocks. IR had a bad reaction on it’s earnings, but longs might take a shot and use the $26 level as support. Keep in mind that IR will be volatile because of it’s European presence and exposure.

Microsoft (MSFT:NASDAQ) Numbers are out on MSFT and the stock is currently only down fractionally. This could be a sign that the bottom is finally in the market, but the conference call could change that theory quickly. Bears have a point when they mention that the technicals look like a failed breakout.

Yahoo (Yahoo:NASDAQ) Will we finally see a takeover at a price substantially lower than what Jerry Yang refused ? Many tout this name as a major breakup value play and YHOO can play the trump card when it comes to unique visitors. Although, history has shown us recently that the best way to play YHOO is buying on dips and selling on rumors like we are hearing today. Just remember that MSFT has a ton of cash to play with for acquisitions.

Washington Mutual (WAMUQ:PK) We highlight this flagship zombie penny stock frequently due to interest from zombie penny stock scalpers. The support level of 6.5 cents remains in place, but WAMUQ is starting to look very weak for speculative longs who are looking for a swing trade. There are just too many lower highs in this name.

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STOCKS IN PLAY – MS, ENKG

 

MS, ENKG, MSFT, FCX, INTC


Morgan Stanley (MS:NYSE) Beat analysts estimates today. The CDS spread of MS also narrowed, which is a bullish signal. Shares appear to have broken out if you look at the daily charts, but the weekly’s show some resistance in the $18 range.

Godfather Media (ENKG.PK) Shares of this sub penny stock are basically flat today, but currently top the list of the most active IHUB message boards. There isn’t much news out there other than the name change that happened yesterday. However, Rule 201 is now in effect, which is a tell that naked shorts are already in the name.

Microsoft (MSFT:NASDAQ) MSFT is basically a clone of the INTC story. Both company’s have not exactly been huge movers in the last few years, but they still carry the cache to bring buyers in if the sentiment changes. A break of $31.58 would be nice for MSFT.

Freeport MacMoran (FCX:NYSE) FCX had a small beat today, and the stock is up fractionally, while copper is off sharply. Just remember, no matter how cheap the stock looks, it’s usually not wise to buy an equity when the underlying commodity that it’s related to is going lower.

Intel (INTC:NASDAQ) We have highlighted this name a few different times because of the stocks’ nice yield. Today, Fast Money just did an Intel versus Apple Computer segment. Jim Cramer has also been pounding the table on INTC, so don’t be surprised if this old stodgy tech name all of of a sudden becomes trendy again.

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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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