RIMM, CLWR, PYMX, AAPL, JPM
Research In Motion (RIMM:NASDAQ) In prior entries we touched on the probability that the $20 handle on RIMM could be in play. Despite the stock being higher. Although right now, $20 isn’t too far away. Even at these levels, RIMM looks like a value trap. Stay on the sidelines if you have a long bias, and don’t get sucked in by another stock buyback or if other shareholder friendly actions are announced, because they never seem to work for RIMM.
Clearwire (CLWR:NASDAQ) We have touched on this low priced name before, and it’s relation to Sprint (S:NYSE). At this point, it would take a major news story to move CLWR. Mainly because there is a downside gap to fill at $2.06. The sidelines are best place to be on this penny stock.
Polymedix (PYMX.OB) This biotech penny stock is building a nice base and has set a number of higher highs on PR’s. PYMX could develop into a nice trading vehicle, but this recent uptrend has been on light volume. A break of the high’s is needed, and the volume needs to be in excess of 500k for a true trend to start. Either way, add PYMX to your penny stock list.
Apple Computer (AAPL:NASDAQ) A break of the $400 handle should spur cable talking heads and some short covering. This stock is a beast and who knows where AAPL could go if you Europe becomes calm again. Just remember that a lot of the low hanging fruit is already gone.
JP Morgan (JPM:NYSE) JPM has staged a nice rally off it’s short term bottom of $31.20. But where does it go from here ? A break of of $35 could lead to an upside gap fill at $36.29. Always watch JPM as a read for other bank stocks.
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