STOCKS TO WATCH – MOS, JPM

 

MOS, JPM, GS, DG


Mosiac (MOS:NYSE) This Ag stock might be starting to come back into vogue with hedge funds and prop traders. The overhang from the Cargill sale seems to be over and MOS trades at a significantly lower multiple than it’s peer Potash (POT:NYSE). Shares just broke through a double top on the daily charts, but there is a ton of resistance in the $71-$72 area. Look for MOS to be on a few different swing trade lists.

JP Morgan (JPM:NYSE) The market can’t sustain a rally without the banks moving higher. It’s as simple as that. JPM has and for the near future, will always be one of the top reads for the direction of financials. If you happen to like JPM, don’t be afraid to pair trade the name versus XLF, which is the underlying ETF, to reduce risk. A break of $38.57 on strong volume could solidify a reversal for JPM.

Goldman Sachs (GS:NYSE) It boggles my mind that nobody ever wants to put on a long position in GS after it gets beat up. However, these same skeptics will chase the shares as they go higher until the cows come home. My rationale on the past Goldman fear is pretty simple. Either you believe in their balance sheet or you don’t. Aggressive longs should keep in mind that there is some resistance in the $118 area. A positive close with volume over 12 million shares could really help the cause though.

Dollar General (DG:NYSE) I am only mentioning this retail name because it’s done so well in poor market condition, but isn’t participating today. Maybe DG is overbought ? Or maybe today’s weak performance is just a pause for refresh. Either way, DG could be a candidate to be sold in a rotation that could lead funds into big name stocks that are at perceived discounts.

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STOCKS IN PLAY – NFLX, CLWR

 

NFLX, CLWR, GS, WAMUQ


Netflix (NFLX:NASDAQ) We have touched on this name many times in previous entries, but the sentiment was neutral then. Bulls and bears were at each others throats, but now it seems if longs have run for the hills. Despite Rule 201 being in effect (Which often is a sign of previous naked shorting) , today’s bounce of roughly 2.5% in NFLX could be viewed by some as a dead cat bounce with no substance. The upside gap fill is also so far away that it isn’t even worth taking about. So unless you are a risk taking bottom fisher, or a scalper, the best way to play NFLX might be from the sidelines. Regardless of your bias.

Clearwire (CLWR:NASDAQ) CLWR has been a stock that many low priced NASDAQ traders have been attracted to for some time. CLWR seems to have a riff with Sprint (S:NYSE) whuch might have been already priced into the decline. On the other hand though, CLWR did come out with some relatively nice numbers that caused a surge. Was the rally legit ? Or did it come from short covering ? A close of $2.20 could change sentiment, but resistance seems to be lined up near the $ 2.60 range.

Goldman Sachs (GS:NYSE) The chart of GS is showing a small reversal, and this is a stocks that hedge funds and PM’s love to jump on if sentiment changes. However there is a ton of resistance in the $120ish range. So longs might only want to consider GS as a swing trade for now.

Washinton Mutual (WAMUQ:PK) WAMUQ has been a penny stock scalpers dream for a while. Shares seem to be in a downtrend and can only be viewed as neutral at best by the most optimistic longs. However, the 6.5 cent support range that we have mentioned several times, really hasn’t been violated yet. Even though WAMUQ should probably only be viewed by scalpers, the shares should still be watched on penny stock lists.

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STOCKS IN PLAY – RENN, AERN

 

RENN, AERN, GS, MCP, WAMUQ


Renren (RENN:NASDAQ) It’s no secret that RENN is an oversold stock. Since the highly anticipated Renren IPO, shares have fallen sharply and attracted many of the usual NASDAQ bottom fisher long types. Well, today might be a good sign for bulls. Shares of RENN are basically flat after seeing significantly bad news out of the Chinese government. Keep in mind that a bottoming signal often starts when beaten up stocks don’t fall on bad news.

AER Enrergy (AERN:OB) The promo emails just keep coming, and this time the volume is starting to wane a little bit. The short squeeze rumors are starting to be floated in the penny stock community, but AERN‘s trading pattern is telling us another story despite shares being up today. A break of 5.5 cents could be the beginning of the end for longs. Keep AERN on your penny stock list.

Goldman Sachs (GS:NYSE) Day traders often use GS as a gauge for other hot money type trades, and shares of GS are looking especially week today after staging a decent rebound off of short term lows.Use the $91ish area as a read for support and remember that GS is more volatile than most think. Also, regardless of your bias, don’t be afraid to pair trade GS with Financial Sector ETF (XLF:NYSE) to reduce risk.

Molycorp (MCP:NYSE) Despite some thinking that MCP is overbought, shares of the rare earth company seem to be in a constructive, low volume pullback today. There also is a gap to fill on the upside at $39.85. Add MCP to your list of stocks.

Washington Mutual (WAMUQ.PK) WAMUQ is back in the news today because of Raj Rajaratnam and his insider trading case. As usual the stock remains popular with penny stock scalpers and the WAMUQ IHUB message board is humming. Keep in mind that we have highlighted the key support level of 6.5 cents for some time. Does it hold ? We will see, but traders seem to be respecting it for now.

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STOCKS IN PLAY – DG, NNAN

 

DG, NNAN, GS, INTC, XLF


Dollar General (DG:NYSE) The recent Warren Buffet buys is up today and should remain on the watch list for short term bulls if shares hold the $35.75 range. Weekend risk is another story though.

NaturalNano (NNAN:OB) NNAN is just another example of why you have to treat most penny stocks as trading vehicles. Shares of NNAN look strong recently, but are currently in a major downtrend. However, they are approaching support, which could entice penny stock scalpers. Put NNAN on your penny stock list just in case it turns into a bounce candidate.

Goldman Sachs (GS:NYSE) The chart looks like a nightmare even though it could be oversold. Also, the current small bounce in GS looks weak. Especially after considering the volume At this point, watch the $85.80 range if you are a swing long.

Intel (INTC:NASDAQ) Shares of INTC look strong, and the company’s dividend might be playing a part with interest rates this low. While many longs view INTC as a tremendous value play, a break of $24 is needed on heavy volume.

Financial Sector ETF (XLF:NYSE) Not so long ago, we mentioned the $12 level as support on the bell weather ETF. Well that level has now been violated and use yesterday’s low of $11.34 as the new support.

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STOCKS TO WATCH – MCP, CLWR

 

NFLX, MCP, GS, NYX, CLWR


Netflix (NFLX:NASDAQ) As of this morning, shares of NFLX are rallying on the open, despite the broader averages being down sharply. It might not be time to act yet, but keep in mind that NFLX was over $300 this past summer. There does seem to be several layers of support in the low $100 range.

Molycorp (MCP:NYSE) Many were predicting a bubble in the space, but many thought it would come at higher prices. MCP remains a tremendous trading stock despite pricing pressure. There seems to be some support in the $30ish range.

Goldman Sachs (GS:NYSE) There is an opinion out there that if you believe in America, you buy stocks like GS when they are beaten up. Well if you like the financials, GS might be your play. However, the stock could be in trouble if it breaks the $86 range.

NYSE Euronext (NYX:NYSE) As most know, exchanges are super market sensitive in market declines. Just keep in mind that this merger stock is still paying more than a 4% yield. John Paulson also has a stake in the name.

Clearwire (CLWR:NASDAQ) We frequently touch on CLWR and have not been fans of the name. Even after the Sprint (S:NYSE) related hype came in. But right now, CLWR has and upside gap to fill at $2.30, and the company does have a cult like following of low priced bottom fishers. Use the $2 level as a gauge for support in case the is a run on stop orders.

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