BAC Breaking News   BAC and AAPL
Bank of America (BAC:NYSE) Buffet buys and lends confidence to the name, but BAC CEO Moynihan loses credibility at the same time. How weird is this ? Fast Money’s Cortes and Najarian were not very bullish for the short term, so the early AM move might signal nothing more than a short covering pop. Just remember, even though Buffet hit home runs with Goldman Sachs (GS:NYSE) and General Electric (GE:NYSE) during the Lehman Crisis, the Oracle of Omaha still receives better terms on his purchases than the Average Joe does. So take this booster shot with lightly if you have a short term perspective. Also watch for an upcoming piece from PSE on BAC Warrants.

aapl Breaking News   BAC and AAPLApple Computer (AAPL:NYSE) The Steve Jobs news has essentially been baked into the cake for some time. Weak hands seemed to be the cause of the $357.00 print earlier on Thursday, and shares of AAPL have consequently rebounded. In other words, this move somewhat was expected and bottom fishers stepped in and were rewarded handsomely. On a technical basis, the weekly chart shows that AAPL has tremendous support in the low $350′s range. Remember that even though skeptics will say AAPL is done, they still have $76 billion in cash reserves and products that stores can’t keep on the shelves.
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Here are some NASDAQ names that are trading with unusual volume.
Broadcom (BRCM:NASAQ) Shares of BRCM are one again on the unusual volume list, but this time it’s for absolutely shattering Wall St earnings estimates. BRCM is well followed by the major brokerages and is definitely one to watch.
Sanmina SCI Corp (SANM) Shares of Sanmina also are up huge after a positive earnings report and in line Q4 guidance. Remember, that there are traders who like to play lower priced NASDAQ stocks like SANM when they breakout on unusual volume.
Apple Computer (AAPL:NASDAQ) AAPL is currently at war with the $400 handle and will be the subject of much debate by talking heads and pundits. However, traders are already talking about a run at $500.
Monolithic Power Systems (MPWR:NASDAQ) Although MPWR is fairly thin, shares are trading higher today on unusual volume. Just remember that MPWR is reporting earnings tonight and this name can be very volatile.
Baidu (BIDU:NASDAQ) Shares of this name have been a little more tame since the stock split, but still aren’t for the feint of heart. BIDU had estimates and price target raised today so it makes sense that day trading types are drawn into the name. Despite the down market, BIDU is up on some nice unusual volume.

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AT&T (T:NYSE) Do shares of T become an Apple Computer (AAPL:NASDAQ) sympathy play ? Well it sure looks like they could be, especially after a story broke that they are preparing their employees for the fall launch of the 5th generation IPhone. Bulls should remember that thick, listed stocks like T tend to draw in new and even conservative buyers when a sexy event like this occurs. Add T to your list of NYSE stocks.

Nautilus Minerals (NUSMF:PK) Shares of this Porter Stansberry play are currently in a mild bullish uptrend. However, NUSMF is a pink sheets name and there is currently a double top formation in place to cause some resistance. Just remember that Stansberry Research has a huge following and NUSMF does have a compelling story. Still, it might be best to let shares break out before acting.

Netflix (NFLX:NASDAQ) NFLX stock seemed to crap out today due to rising costs. They even mentioned that they were not bidding for Hulu. Is this the day that bears have been waiting for ? There is smart money on both sides, but NFLX also mentioned that they will lose subscribers with their new price hikes. The $250 handle seems to be in play, but there is some support in the low $240′s. Remember that the NFLX conference call has really never been conducted in a shareholder friendly fashion.

Tesla Motors (TSLA:NASDAQ) Considering the broader markets, shares had a decent day on the heels of Walgreen’s (WAG:NYSE) announcement of installing EV chargers at 800 stores. Shares of Tesla are heavily shorted and and future green car friendly PR’s might make bears a little more likely to cover their positions.

Greenshift Corporation (GERS:OB) Shares of GERS doubled today with strong volume on news of a corn oil extraction patent. Sub penny stocks like GERS can often move on much less positive news than we saw today. This PR isn’t an immediate revenue producer, but it looks like penny scalpers may have some fun trading GERS for near future. Add GERS to your sub penny stock list, regardless of your bias.

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Stocks to Watch NOK, RPC, AAPL

Here are some stocks to watch that range from blue chips to penny stocks. The names are listed below:

Research In Motion (RIMM:NASDAQ) We mentioned this name last week and want to remind you that there are very few reasons to attempt to catch a falling knife. RIMM is viewed by some bears as a value trap, and other skeptics as the next Nokia (NOK:NYSE). Even if we see a dead cat bounce, RIMM looks like dead money to me from here and is probably viewed best from the sidelines.

Jammin Java (JAMN:OB) Coffee stocks made a nice move last week and there potentially is a Dunkin Brands IPO coming in the near future. This once hot penny stock could potentially make a sympathy move if the stars align correctly. Or if more promo dollars come in. ADD JAMN to your list of stocks, and monitor just in case we see a breakout.

Nokia (NOK:NYSE) Shares of Nokia seem to trade in an eerily similar fashion to RIMM and are near 52 week lows. However it’s NYSE listing and low price per share have continued to draw in speculative longs. One thing to remember is that NOK is out of favor and the stock loses marginablilty if it breaks the $5 level.

Radient Pharmaceuticicals (RPC:AMEX) This once hot AMEX penny stock was one of our best alerts on a percentage basis a long while back, but failed to follow through. Shares of RPC gapped up Friday morning and still have bounce potential, despite being out of favor with many penny stock traders. RPC seems to move when you least expect it, so it’s wise to keep the name on your watchlist, despite the weak fundamentals.

Apple Computer (AAPL:NASDAQ)
As of Friday’s close, shares of AAPL are almost 40 points off the 52 week highs. It seems like the easy money swing trades of the past are gone. Traders from the long side also seem to get nervous when AAPL breaks 320 and trades in the “teens”, mainly because the psyche level of $300 is not to far below. For now, especially with the uncertainty in Europe, it’s probably best to watch.

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