CLWR, TQNT, LVS, JPM, DG
Clearwire (CLWR:NASDAQ) CLWR is just a stock that needs to be mentioned. Not because of it’s performance, but because of it’s cultish following from longs. Recently, CLWR once again staged a rally that gave a sign to some that the trouble was over, and they were out of the woods. However, shares of CLWR were rejected today after they broke the $2 handle and the volume is waning to the point where shares look tired. If we pullback next week, the $1.60 level could be in play. Keep in mind that there might be a slew of stop orders at $1.50
Triquint Semiconductor (TQNT:NASDAQ) TQNT is viewed by some speculative traders as a way to participate in Apple Computer (AAPL:NASDAQ) for a smaller cash outlay. However, this time TQNT investors were blindsided with weak guidance despite AAPL stabilizing. The recent drop might represent a buying opportunity to some. There is an upside gap to fill at $6.81 and there are waves of support right above the $5 handle.
Las Vegas Sands (LVS:NYSE) LVS is just a name that even the bravest, most experienced traders often avoid. Both from the long, and when it’s available for borrow, the short side. But today is a little different. LVS posted great numbers and investor sentiment is improving, especially if we see a few more good days in the broader averages. LVS is starting to look a little overbought on a short term basis, but you simply have to throw rhyme or reason out the window regarding this name. In other words the 52 week high of $55.47 could be in play soon.
JP Morgan (JPM:NYSE) To the casual eye JPM looks dead today. However, the volume is very light and today’s relatively break even day so far could be viewed by some as a pause for refresh. Especially after the gap up we saw earlier in the week. As always, keep JPM on you list of stocks, but the low hanging fruit for longs might already be gone.
Dollar General (DG:NYSE) We highlighted DG yesterday as a candidate to be sold by some institutions who are looking to rotate into beaten up brand name stocks. Today DG continued it’s shallow decline, and the technicals are starting to look like they about to roll over. The $38 dollar level is starting to look like the line in the sand for enthusiastic longs.
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