NFLX, WFM, JAMN, GLD, SRCH
Netflix (NFLX:NASDAQ) It seems like the shorts are finally starting to have there day in the sun. Despite the initial excitement of NFLX‘s sum of parts story, the stock has faded on Monday. Watch the $143 area as the next level of support before the year low comes into play.
Whole Foods Market (WFM:NYSE) Who would have thought that a high end organic grocer would hit new highs with this economy and our current market conditions ? Shares set a 52 week high today, but still could be viewed by some as overbought. However, stocks that outperform in down markets often rip when the turnaround comes, but a further upside move could lead to a retest of $79.70 where a double top could be forming. Regardless of your bias, add WFM to your list of breakout stocks.
Jammin Java (JAMN:OB) JAMN seems to keep under performing despite the broader coffee stock sector performing well. For now, JAMN is looking like a dead, fallen penny stock as it drifts lower on thinner and thinner interest. Watch the 55 cent range for support and keep JAMN on your penny stock list on a just in case basis.
Gold Trust ETF (GLD:NYSE) Gold and the market down at the same time sends a confusing message to traders. So for now use $165.88 as a guide, and it could get ugly for gold bugs if that level breaks.
Searchlight Mine (SRCH.OB) SRCH has been on fire lately and seems to have a promo going on. The chart seems to have some potential for longs if shares break the $1.38 level. The history of liquidity in this penny stock name is impressive, but please just view it as a trading vehicle.
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