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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STOCKS IN PLAY – JPM, SPY

 

JPM, SPY, AAPL, MS


JP Morgan (JPM:NYSE) As usual, watch JPM as a read into whether Monday’s rally in the financials is legitimate. The Europe news helped today, and the 29.50ish area seems to show some support. On the more speculative side, JPM Warrants might start to come back into play.

S&P 500 ETF (SPY:NYSE) The mother ship of all ETF’s had it’s biggest gain in over a month on Columbus Day, so don’t be surprised if you see some selling come in if we see a gap up open in the AM. Remember, there is a difference from a trading rally and a confirmed bottom. We are not trying to make a directional market call on the broader markets, but the jury still seems to be out.

Apple Computer (AAPL:NASDAQ) The new iPhone 4S sales news could cause some shorts to panic a little. Keep in mind that the sentiment to buy AAPL on dips has been around for a while. The $400 level might be a place where bears have entered buy stops.

Morgan Stanley (MS:NYSE) The break of $15.09 to the upside could prove to be key for MS and could lead to a test of the $16.50 level for short term traders. Keep in mind that MS was one of the few financials that was in favor three months ago, so watch for extra volatility.

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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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STOCK ALERTS – MS, UNDT

 

MS, SPY, NFLX, UNDT


Morgan Stanley (MS:NYSE) Shares of MS rallied nicely off of the early morning lows. However, there is still tons of uncertainty out there in regards to the financial sector. This might not be the bottom, but because the sentiment is so bad we could be close. The yield is currently 1.50% at these levels in MS, and considering CD rates and money market yields, that rate is somewhat attractive. Don’t be surprised if institutions start dipping their toes in the water on MS. With the intention of averaging in if shares go lower.

S&P 500 ETF (SPY:NYSE) The was a nice early morning bounce in the Spiders this AM and currently, the daily chart looks like it’s in shape for short term bulls. A sign of a bottom would be if SPY traded in the 320 million share range with a positive close.

Netflix (NFLX:NASDAQ) NFLX is not a stock to own for those who are feint of heart, but there might be a swing trade opportunity. Especially if the market stays relatively stable. Shorts have made a handsome profit recently despite, although some bears were early and consequently got squeezed. Right now is a different scenario though. Any sign of good news in the broader markets could cause spec shorts to cover and provide a trading bounce for bottom fishers. Remember NFLX never tested $100, so that psyche number could be used as support.

Universal Detection (UNDT.OB) There is no news on UNDT that I can find, and the stock seems to only be trading the spread. However, strong activity from penny stock scalpers who have a long bias can have an impact on daily percentage returns of under follwed names. At this point UNDT is up 50% for the day and could potentially show up on some breakout scans tomorrow. Add UNDT to your penny stock list.

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STOCKS IN PLAY – AMR, MS

 

AMR, MS, AAPL, AGHD


AMR Corp. (AMR:NYSE) AMR an example of why you stay away from a falling knife. There is huge resistance slightly under $3. Shares currently look like they are not going to close at the lows of the day. But ask yourself his. How many fans of the airline industry do you know? At this point I just can’t see a rush of bottom fishers stepping into this name. On the short side it’s hard to borrow and it’s probably best to stay away from a long perspective unless you have a 15 minute time frame or less.

Morgan Stanley (MS:NYSE) Shares of MS tested year lows today which isn’t a good sign. However, the stock is almost 50% lower from where hedge funds were looking to go long for a quick channel trade. You would think the broader averages would be lower after the performance and rumors coming out of the media today. Maybe the panic has finally set in.

Apple Computer (AAPL:NASDAQ) By no means am calling a bottom on this name, but just remember that AAPL has frequently been a leader when the market comes off of short term bottoms. So for this reason alone add AAPL to your list of stocks. There are a couple of gaps for this stock to fill on the upside if the market turns.

Augrid Global Holdings (AGHD:PK) This sub penny stock is currently showing a 100% name in a down market. Although these percentage returns can surely change if scalpers flatten out their long positions. However, despite the dollar volume being small, penny stocks like this often show up on traders market screens, which can drastically increase interest. Add AGHD to your penny stock list.

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