Clearwire Corporation (CLWR) A Mystery

CLWR Clearwire Corporation CLWRClearwire Corporation (CLWR:NASDAQ) has been an enigma to speculative investors for some time. The Kirkland, Washington based company that specializes in 4G networking had a volatile, negative past up until recently, Clearwire Corporation has been trading as if it were a broken penny stock.

But positive events happen, and in mid-August we saw some sizable insider buys in Clearwire Corporation. Shares of Clearwire Corporation CLWR consequently rallied from the $1.60ish range to $3.42 in a little more than a week. Now remember, Clearwire Corporation has frequently sucked in longs on mini rallies since it was trading in the teens.

So why is Clearwire Corporation any different now ? While this recent move might be a bull trap, Sprint (S:NYSE) may have a different story to tell. As many of our readers know, we like to highlight potential sympathy plays at PSE, and Clearwire Corporation often moves based on the performance of Sprint.

Now according to WSJ reports, Sprint is will up and running with the iPhone this fall. At the time of this entry, shares of Sprint are basically flat. So was the iPhone premium already factored in to both Sprint and the recent move in Clearwire ?

Clearwire Corporation Risky Venture

On a technical basis Clearwire Corporation has been in a downtrend for sometime and currently looks extended, with a downside gap to fill in the $2.20 range. There are also multiple layers of resistance to break at higher prices. So unless you feel Clearwire Corporation is an acquisition candidate, it might be wise just to watch how the Sprint/Apple Computer story plays out.

Only time will tell, but the insider buying might a bigger catalyst for Clearwire Corporation than the actual iPhone/Sprint event. Remember that a buyout of CLWR by Sprint has been rumored for some time. However, Clearwire Corporation is a heavily shorted, debt ridden company that has been a dog for sometime.

Regardless of your bias, add Clearwire Corporation CLWR to your list of stocks on a just in case basis.

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