BAC, SNDXF, MMTC, AAPL, AVL
Bank of America (BAC:NYSE) This is a stock that has trapped bottom fishers and value buyers. The technicals look absolutely horrible. But could that mean we are near the bottom ? The 2009 low of $3.14 could be in play, however a scalpers bounce wouldn’t be a complete surprise either. At these levels, BAC could become the new signature play for rebate traders.
Sandstorm Gold (SNDXF.PK) As we all know, gold is flying. Shares of this hot gold penny stock closed down on Monday, but this just may have been a reflection of hot money exiting the name. Porter Stansberry is acquiring quite the following lately and he thinks SNDXF is the next Royal Gold (RGLD:NASDAQ).You be the judge.
Micro Imaging Technology (MMTC.PK) This once hot penny stock has all of a sudden become relevant again. MMTC is now on the pink sheets, but more than doubled on Monday with the volume exploding. MMTC is still 7 cents off the high and if the market bounces on Tuesday, the name could be viewed by more than the usual penny stock scalpers.
Apple Computer (AAPL:NASDAQ) I hate to state the obvious, but AAPL is generally one of the first stocks to move in upside reversals. Shares were down more than 5% on Monday and you potentially could see some of the “I missed it last time crowd” step in if shares get cheaper. AAPL still has over $81 per share in cash.
Avalon Metals Corp (AVL:AMEX) We have mentioned AVL before as a volatile name and it’s hard to believe that Avalon can get much more oversold.They just completed a stock offering in late July at $6.15. Despite the quick percentage decline, AVL is still risky at these levels. Use Molycorp (MCP:NYSE) as a read for the entire sector and act accordingly.
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