AMZN, CAT, JPM, MCP
Amazon (AMZN:NASDAQ) Shares of AMZN are already up over 30 plus percent for the year and the bar has been set extremely high for earnings expectations. So even a slight miss could do severe damage to overzealous longs. However, a retest of resistance of 246.71 tomorrow wouldn’t surprise many if the market bids up before AMZN earnings.
Caterpillar (CAT:NYSE) In this economy you even skeptics have to give CAT some credit. Shares are up over 5% today and has the look of a stock that could see some upgrades from some of the major investment firms. Just keep in mind that while CAT could easily retest it’s 52 week highs on positive news out of Europe, there still is a downside gap to fill at $87.50.
JP Morgan (JPM:NYSE) We highlight this name frequently because of it’s influence on the market. The broader averages always have a tough time moving when the banks under perform. It’s as simple as that. On a more positive note, JPM just broke through a triple top and $38.02 looks like the next line in the sand.
Molycorp (MCP:NYSE) Some think the rare earth’s are still oversold, while others can’t seem to justify the market caps. Well, the charts seem to say that MCP has rallied of a decent bottom, but isn’t out of the woods just yet. Keep in mind that political action could play a bigger role in MCP‘s fate than good old spot price fluctuations.
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