RENN, SODA, JAMN, SLV, ADAC

Renren (RENN:NASDAQ) RENN was once a smoking hot IPO that was heavily oversubscribed. Now it’s only a few bad news events from being a penny stock. Competition from Sina isn’t helping the matter, but maybe bottom fishers will. However, at this point, the year low of $6.13 seems to be in play. Especially if the broader markets stay weak.

Sodastream International (SODA:NASDAQ) Shares were smashed on Tuesday and SODA’s activity on Yahoo’s Market Pulse feature is rising. Many investors who were looking for the next high growth small cap story were disappointed when Jim Cramer bashed the name. Shares are oversold, but this situation could get even uglier for longs if the support at $37.97 breaks. Regardless of your bias, the sidelines are looking better and better with SODA.

Jammin Java (JAMN:OB) Last week’s news of a new CEO seemed to be an uptick for JAMN, but they have yet to execute their business plan. Shares of JAMN ripped near the close on Tuesday, but there are some resistance layers in the $1.20 area. In other words, it’s going to take a lot for JAMN to break $1.50 in the near future. Always keep JAMN on your penny stock list on a just in case basis.

iShares Silver ETF (SLV:NYSE) It’s starting to look like the theories of a rotation out of silver and into gold are true. Silver and silver penny stocks have been out of the limelight for a while. SLV really needs to break out of this consolidation pattern soon and move through $40 on heavy volume.

Adama Technologies (ADAC:OB) Shares of ADAC were smashed on Tuesday after news of the company suspending negotiations to buy an African mining property. The upcoming reverse split won’t help matters much either. Even before Tuesday, the recent trend has been down and ADAC is starting to look more and more like a broken penny stock.

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URBN, ZAGG, CSCO, SAVW, BAC

Urban Outfitters (URBN:NSADAQ) Shares of URBN moved higher in after hours trading after they posted numbers that beat street estimates. Tomorrow could be interesting for URBAN because shorts might be trapped after Barclays lowered estimates on some retail names.

Zagg Incorporated (ZAGG:NYSE) ZAGG posted record numbers before Monday’s open and set a 52 week high only to fall back below $16 by the close. However, traders should keep an eye on this small cap name and ask yourself this question. How many non- commodity stocks have set new highs in this market ? Add ZAGG to your list of stocks to watch.

Cisco Systems (CSCO:NASDAQ) Cisco is once again coming back into favor in some circles. CSCO has made a nice move since their earnings report, however we have seen this before and there is a gap to fill on the downside. It just seems like there are better large cap tech names to buy at this point.

Savwatt USA (SAVW:OB) Shares of SAVW were once again the most heavily traded bulletin board penny stock in the market. However, Monday wasn’t good day for SAVW longs. On Friday, it was announced that SAVW would be late in filing it’s quarterly report, which is never a good sign. Will the stock bounce if they file ? Or has the plug been pulled on SAVW ? Put SAVW on your list of penny stocks.

Bank of America (BAC:NYSE) Is BAC’s recent moved based on fundamentals ? Or is it just a dead cat bounce ? Well the longer term charts still look horrible for longs because of so many lower lows and resistance layers. While BAC can be a great trading vehicle for low price NYSE traders, it still needs to clear the $11 range for the technicals to look constructive.

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INTC, NGMC, GLW, DZZ, MMTC

Intel Corp. (INTC:NASDAQ) Is the sentiment finally starting to change on this stodgy old tech stock ? Well there are some decent support layers between $19 and $20 and INTC does pay a 4% dividend. The hype of the Ultrabook, could also bring some former longs back in from the sidelines in search of the old INTC glory days.

Next Generation Energy (NGMC) Penny stock traders should keep an eye on this energy play because it appears that a promo is coming. NGMC might heat up the message boards in the next few days. Just remember to be careful.

Corning (GLW:NYSE) Corning seems to be on the radar for those who follow insider buying patterns based on James Flaws recent purchase of GLW. Flaws is the CFO of Corning and his last purchase of the stock was in 2008. As of Friday, he was up 41% on that investment.

Power Shares DB Gold Double Short (DZZ:NYSE) It seems like traders have been looking for low priced ways to short gold recently without using options or futures. DZZ closed under $5 on Friday and the 2x short inverse ETF is a liquid, low priced option for gold bears.

Micro Imaging Technology (MMTC) This penny stock name has been hot recently and is currently above the 50 and 200 DMA’s. MMTC is also currently the most active IHUB message board, which on occasion builds momentum up over a weekend. If MMTC stays active penny and sub penny stock scalpers could have a ball.

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BAC, SNDXF, MMTC, AAPL, AVL

Bank of America (BAC:NYSE) This is a stock that has trapped bottom fishers and value buyers. The technicals look absolutely horrible. But could that mean we are near the bottom ? The 2009 low of $3.14 could be in play, however a scalpers bounce wouldn’t be a complete surprise either. At these levels, BAC could become the new signature play for rebate traders.

Sandstorm Gold (SNDXF.PK) As we all know, gold is flying. Shares of this hot gold penny stock closed down on Monday, but this just may have been a reflection of hot money exiting the name. Porter Stansberry is acquiring quite the following lately and he thinks SNDXF is the next Royal Gold (RGLD:NASDAQ).You be the judge.

Micro Imaging Technology (MMTC.PK) This once hot penny stock has all of a sudden become relevant again. MMTC is now on the pink sheets, but more than doubled on Monday with the volume exploding. MMTC is still 7 cents off the high and if the market bounces on Tuesday, the name could be viewed by more than the usual penny stock scalpers.

Apple Computer (AAPL:NASDAQ) I hate to state the obvious, but AAPL is generally one of the first stocks to move in upside reversals. Shares were down more than 5% on Monday and you potentially could see some of the “I missed it last time crowd” step in if shares get cheaper. AAPL still has over $81 per share in cash.

Avalon Metals Corp (AVL:AMEX) We have mentioned AVL before as a volatile name and it’s hard to believe that Avalon can get much more oversold.They just completed a stock offering in late July at $6.15. Despite the quick percentage decline, AVL is still risky at these levels. Use Molycorp (MCP:NYSE) as a read for the entire sector and act accordingly.