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 IN PLAY – Friday

 

VMW, GOOG, NNAN, XLF, DYLT

 
VMWare (VMW:NYSE) VMW is one of those names that prop traders love because a 1.5% move can net you a nice payday if you are in for size. VMW has a cup and handle formation and a break of $95.55 could cause a test of the $100 “psyche level”.
 
Google (GOOG:NASDAQ) Google bought Zagat, but terms were not disclosed. It seems that GOOG is looking for content companies, so we will be keeping an eye out for some of those obscure, related names that potentially could bounce on GOOG takeover rumors. On another note, maybe this speeds up a Yelp IPO.
 
NaturalNano (NNAN:OB) We touched on NNAN a little while back because of potential action coming into the name due to a presentation at a cancer conference. There wasn’t even one fluffy PR after the summit, and this why we mentioned not to jump in, and to wait for further news. Consequently, shares of this sub penny stock look weak, and volume is declining.Take NNAN off of your penny stock list until further notice.
 
Financial Sector ETF (XLF:NYSE) My sense is that XLF needs to move higher soon or a potential re-test of the crucial $12 level could be in order. Remember to watch the action in Bank of America (BAC:NYSE) ,JP Morgan (JPM:NYSE) and Goldman Sachs (GS:NYSE) as keys for a read on how to play this bellweather ETF.
 
Dais Analytic (DLYT.OB) This penny stock name performed well today on a percentage basis, closing up over 26% on volume that was fairly consistent with the prior three sessions. One concern is the last two trades of the day. They sort of painted the tape. Keep that in mind if your are long DLYT.

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STOCKS IN PLAY – Thursday

 

XLF, NNAN, PFE, IDEH, ORCL

 
Financial Select Sector ETF (XLF:NYSE) Not so long ago, we highlighted the crucial $12 support level on XLF, and it held, now the shares have been in an uptrend ever since. Right, now XLF if down for the day, but a break of $13.48 could cause the bank bulls ot rumble again.
 
NaturalNano (NNAN.OB) There is still no follow through for longs who played NNAN’s Cancer Summit presentation. Bashers are out there claiming NNAN is a hype machine, but it seems like penny stock scalpers are still using the 2 cent level as support. Keep NNAN on your penny stocks list on a just in case basis.
 
Pfizer (PFE:NYSE) All of the pharmas look strong here, which obviously has to do with the fear factor in the market. PFE pays a dividend that is slightly larger than 4%, but short term traders should keep in mind that there is a downside gap that could be filled in the $18.20 area.
 
International Dev and Enviro Holdings (IDEH.OB) Can’t find any news on this sub penny stock, but shares of IDEH are currently up over 180% on Thursday. Even though the dollar volume is light, IDEH‘s actual share volume is through the roof. Today’s monster move also could put IDEH back on the radar of penny flippers. Add IDEH to your sub penny stock list.
 
Oracle (ORCL:NYSE) News has been reported that SAP (SAP:NYSE) received a favorable ruling in it’s court battle versus ORCL. This news story sounds bigger than it is and the dollar amount is miniscule relative to the market cap of ORCL. However, ORCL still needs to break $28.67 to get longs going again.

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Tuesday Stocks to Watch – MCP, SPY

MCP, USO, SPY, MMTC, XLF


Molycorp (MCP:NYSE) Rare earth stocks get hot and cold on a weekly basis, and they should remain volatile. MCP remains king of the hill, but the $50 handle is starting to look more like resistance than support. MCP’s performance can influence some of the more speculative rare earth penny stocks as well.

United States Oil Fund (USO:NYSE) Many traders made the mistake of going short oil names today on the news out of Libya. Playing the USO Oil ETF is even more tricky. Most people don’t understand contango, which often weighs heavily on USO. So if you have a vibe on oil, it’s probably best to look somewhere else, no matter what you bias is.

S&P 500 ETF (SPY:NYSE) Once again, those who sold the morning gap were rewarded. However, despite the late Monday weakness, SPY formed a mini double bottom in the $112.50 area.

Micro Imaging Technology (PINK:MMTC) Last week’s run in MMTC saw no follow through, but shares remain widely traded by penny stock scalpers. At this point, there is no compelling reason to be involved and it’s probably best to wait for news flow.

Financial Sector ETF (XLF:NYSE) This ETF is best used by prop and day traders for hedging positions and scalping. XLF is at a crossroads right now because there are layers of support in the $12 range that need to be held. JPM and WFC are large components of XLF, so watch them if trading this ETF.

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