STOCKS IN PLAY – Friday

REGN, COSI, JAMN, MITL, GS, DNKN

Regeneron (REGN:NASDAQ) Shares of REGN are squeezing higher on a NYT report. The highs for the day might be in, but the $71.73 level might be in play after REGN‘s monster breakout on strong volume in a down market.

Cosi (COSI:NASDAQ) The volume in COSI is extremely light and so far, Friday’s action looks like nothing more than a penny stock having a mini dead cat bounce. Check out our entry on COSI for more color on this beaten up name.

Jammin Java (JAMN:OB), Dunkin Brands (DNKN:NASDAQ) ripped yesterday after Herb Greenberg’s piece on the ending of the DNKN 45 day quiet period. So at the time, a sympathy move in the sector didn’t seem out of the question. However, coffee penny stocks like JAMN never followed through. At this point, a break of .75 cents to the downside could put lead to technical issues for JAMN, because there is no support until the .67 cent level. Keep JAMN on your list of penny stocks as a potential trading vehicle.

Mitel Networks (MITL:NASDAQ) MITL is the type of name that low priced illiquid NASDAQ name that traders like to play if volume comes in. Well it looks like today wasn’t the day for MITL, despite and early move higher to the $4 range, shares have fallen back and at this point are down over 6%. MITL is just another example of why it’s best not to trade earning plays from either the long or short side. MITL seems to have eyes for the $3 handle where some support lies, but a bounce from there wouldn’t be a huge surprise either.

Goldman Sachs (GS:NYSE) The weekly chart on GS looks atrocious for longs, and as you probably know, it’s hard for the financials to rally without GS participating. Shorts might be trying to make a run at the $100 psyche level, but there is some support below there in the $95ish range. Is the tape action in GS forecasting further global problems ? I sure hope not.

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