Stocks to Watch WWW, BAC, MCP
Here are a few penny stocks and large caps to watch for Tuesday’s trading session. The company names and symbols are listed below:
Wolverine Worldwide (WWW:NYSE) Shares of Wolverine were up nicely in sympathy with the Timberland (TBL:NYSE) takeover. We could see additional follow through in the AM if the market is strong, and if a few more news sources or brokerage firms tell investors to check out TBL’s peers . Also, look at other footwear and brand name clothing small cap names to add to your list of stocks.
Bank of America (BAC:NYSE) This large cap bank has been under pressure recently due to various reasons. BAC was up a little today, but underperformed some of it’s peers. BAC could be the weak sister of the group if we see a reversal. Especially if mortgage type issues are concerned. Remember BAC isn’t that far from testing the 52 week low.
Molycorp (MCP:NYSE) Stock is down again after it’s anticipated dilution. This recent downfall has taken a little steam out of the rare earth sector and even aggressive longs have been apprehensive to step in and bottom fish. However, when the MCP story changes, it happens very quickly. So keep an eye out with a long bias, but be aware that MCP could drift lower due to margin selling and weak hands.
Jammin Java (JAMN:OB) Shares of JAMN are still basing aroung the $2 level after falling back off a monster move to the upside. The JAMN situation is trcky at these levels. Promo funds could still be behind the story, but it seems to me that some sort of rally better happen and happen soon. Otherwise, penny stock traders may lose interest.
IShares Silver Trust (SLV:NYSE) This precious metal based ETF had a rough one today. Just as SLV looked like it may try to retest the $40 level, the rug was pulled out again. It still looks like the weak hands were flushed out, but the timing to go long SLV right now still may perfect. SLV might be a perfect example of waiting for a stock to breakout before you buy it.
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