KKD, JCOF, MMI, MCP, WTFS
Krispy Kreme Doughnuts (KKD:NYSE) KKD set a new 52 week high on higher than average volume, but didn’t test the $10 handle and somewhat lacked the end of the day surge that is generally seen by stocks that are breaking out. Keep an eye on this one leading into the Dunkin Brands IPO, and if you are a true speculator, KKD also has warrants.
Javalution Coffee (JCOF.PK) This high flying pink sheets penny stock came in over 8% today after a furious multi-day rally. We wrote a comparison piece earlier in the day comparing JCOF to JAMN. Shares of Javalution could still have some life if the coffee stocks remain strong. However, it’s best to watch for now, but add JCOF to your penny stock list.
Motorola (MMI:NYSE) Is it me ? Or is Motorola starting to trade like a higher priced Nokia (NOK:NYSE) ? Shares violated lows on the weekly chart and may remain weak unless there is some sort of positive catalyst. Looks like a good one to avoid from the long side for now.
Molycorp (MCP:NYSE) One day the rare earth stocks are hot and the next day they are not. Even at these reduced levels shares of MCP remain risky for longs and seem to be stuck in no-man’s land. Congress could help though, if a strategic rare earth reserve bill is brought to the floor of the House.
Xinde Technology (WTFS.OB) We issued a piece on WTFS and some of the risk involved in Chinese reverse mergers a few days back. It is common knowledge that Herb Greenberg of CNBC is bearish on the concept of these foreign names, but today, there was an even more negative, WTFS related article out of hotstocked.com. It touched on the expensive stock promotion of Xinde. Shares imploded and closed down over 36%. This one seems even too risky for long biased penny stock scalpers to play
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