STOCKS TO WATCH – CLWR, MOS

 

CLWR, MOS, JPM, MCP


Clearwire (CLWR:NASDAQ) Shares of Clearwire were up nicely today in anticipation of earnings. In the aftermarket they also remain near where they closed. On the surface CLWR had a decent release. Revenue was up and losses subsided. CLWR also feels they can beat the streets subscriber target of 10 million. But was today’s move higher just short covering before numbers ? Keep in mind that there is still a downside gap to fill at $1.64.

Mosiac (MOS:NYSE) MOS looked great last week and not so hot today. Although there seems to be a basing process going on with the Ag’s, they need to actually break out. Maybe M&A will help the group, but something needs to happen fast before lower lows start getting set.

JP Morgan (JPM:NYSE) Shares of the bell weather financial had a decent day, outperforming the market, but the volume was sort of light for a move of roughly 2.5%. Patience might pay off in this name once the European mess gets off the front page. Bulls might say that the recent pullback was just a gap fill.

Molycorp (MCP:NYSE) Do you realize that you could have bought MCP under $30 earlier this month ? Don’t feel so bad, even speculative traders shy away from names like these on dips. MCP seems to be stabilizing in the mid to high $30′s, but needs something other than higher REE spot prices to really break out. So keep looking for news out of Washington or China for the next move. Also, the $36.50 level looks pretty solid for support.

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STOCKS IN PLAY – AMZN, CAT

 

AMZN, CAT, JPM, MCP


Amazon (AMZN:NASDAQ) Shares of AMZN are already up over 30 plus percent for the year and the bar has been set extremely high for earnings expectations. So even a slight miss could do severe damage to overzealous longs. However, a retest of resistance of 246.71 tomorrow wouldn’t surprise many if the market bids up before AMZN earnings.

Caterpillar (CAT:NYSE) In this economy you even skeptics have to give CAT some credit. Shares are up over 5% today and has the look of a stock that could see some upgrades from some of the major investment firms. Just keep in mind that while CAT could easily retest it’s 52 week highs on positive news out of Europe, there still is a downside gap to fill at $87.50.

JP Morgan (JPM:NYSE) We highlight this name frequently because of it’s influence on the market. The broader averages always have a tough time moving when the banks under perform. It’s as simple as that. On a more positive note, JPM just broke through a triple top and $38.02 looks like the next line in the sand.

Molycorp (MCP:NYSE) Some think the rare earth’s are still oversold, while others can’t seem to justify the market caps. Well, the charts seem to say that MCP has rallied of a decent bottom, but isn’t out of the woods just yet. Keep in mind that political action could play a bigger role in MCP‘s fate than good old spot price fluctuations.

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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 TO WATCH – AERN, MCP

 

AERN, MCP, CLWR, POT


AER Energy Resources (AERN.OB) AERN has been an extremely hot penny stock, but the continued high volume of promo emails is alarming to some. Shares are up over 20 percent at the time of this entry, but the Reg Sho, Rule 201 is now in effect. Rule 201 is often a sign of naked short selling. Keep your eye on this one for no other reason than to watch the outcome of bears versus bulls. The 12 cent range also shows a fairly strong resistance level.

Molycorp (MCP:NYSE) In the last two weeks, rare earth stocks have gone from riches to rags. Now they seem to be on their way back to prosperity. A break of $39.68 would be huge for MCP longs, but the recent volume has been light. However, the political sentiment out of Washington seems to favor this group. Especially because China, for all intensive purposes, has essentially been on the other side of the market in regards to the commodity.

Clearwire (CLWR:NYSE) This once trendy NASDAQ small cap name is now a penny stock in the truest sense of the words. Longs should beware that tax selling season is close and those $1 stop loss orders could be tested at some point, partially because so much hot money is underwater now.

Potash (POT:NYSE) The flagship Ag name is trading nicely today on huge volume. A solid break of the psyche level of $50 dollars is still needed, but the reversal off of the capitulation like bottom of $39.58 looks impressive on a technical basis. Keep POT on your list of stocks for swing trading purposes.

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STOCK ALERTS – GLW, AAPL

 

GLW, AAPL, JCP, MS, MCP


Corning (GLW:NYSE) Management upped GLW‘s dividend and approved a stock buyback. GLW is consequently up over 5% at the time of this entry. But how many times have we seen this type of shareholder friendly news fail for short term traders ? If you have a long term time frame, the recent GLW news is positive, but traders should remember that there is still a downside gap that needs to be filled.

Apple Computer (AAPL:NYSE) It doesn’t take a genius to figure out that the Steve Jobs related news is weighing on the stock. However, many investors might be underestimating the innovation of the successors. Keep in mind that the $360 range is the short term line in the sand, and recent history has shown us that institutions love to buy dips in AAPL.

JC Penney (JCP:NYSE) I am mentioning this retail name for one reason, and it has nothing to do with fundamentals or technicals. JCP lowered guidance and the stock is up so far, and is near the highs of the day. A stock that goes up on bad news is often a sign of a bottom. Add JCP to your list of stocks.

Morgan Stanley (MS:NYSE) What a difference a couple of days makes. We touched on MS a couple of days ago when everyone was extremely negative. Just remember that the time for bounces in quality names often occur when pessimism is high. So is it time to sell after this recent bounce ? Time will tell. Just remember that tomorrow is Friday and a retest of lows on MS in the near future wouldn’t be a surprise.

Molycorp (MCP:NYSE) MCP has two different types of followers. On the long side there are many who feel that MCP is a 3 digit name at a minimum. On the other hand, some bears feel that the RE bubble has burst and MCP might trend back towards it’s IPO price. Just remember that despite the perceived economic slowdown, MCP has some support in the low $30 range.

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