STOCKS TO WATCH – GRPN, IMPV

 

GRPN, IMPV, JPM, CLWR


Groupon (GRPN:NYSE) Despite the drama concerning the company’s financials, Groupon hasn’t turned into the next Pandora (P:NYSE) IPO bust just yet. Although shares have closed at their lowest point since the offering, today’s down market might have something to do with it. A bounce tomorrow might cause some naked shorts to cover, or some bottom fishers to actually fish. Today’s low of $22.76 could be used as a guide for support.

Imperva (IMPV:NASDAQ) IMPV was viewed as a flat to up slightly deal by some IPO services as recently as October. However, the interest heated up massively in the last week or so. IMPV was priced at $18, well above it’s expected range. My sense tells me if the broader averages did better today, this small float deal would have really ripped. Keep IMPV on you list of stocks for the near term.

JP Morgan (JPM:NYSE) As many of our followers know, we highlight JPM frequently because of it’s bell weather status. Today’s move of down more than 7% looks disturbing on the surface, but the volume, although heavy wasn’t overwhelming. Use the $31 area as support for now if long.

Clearwire (CLWR:NASDAQ) Seems to be back in the doldrums again. How many times do low priced NASDAQ spec traders need to be whipsawed in this name ? Shares of CLWR are at a critical point here, and a hold of the low $1.70′s could cause some of the cult buyers to average in.

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STOCKS TO WATCH – CLWR, MOS

 

CLWR, MOS, JPM, MCP


Clearwire (CLWR:NASDAQ) Shares of Clearwire were up nicely today in anticipation of earnings. In the aftermarket they also remain near where they closed. On the surface CLWR had a decent release. Revenue was up and losses subsided. CLWR also feels they can beat the streets subscriber target of 10 million. But was today’s move higher just short covering before numbers ? Keep in mind that there is still a downside gap to fill at $1.64.

Mosiac (MOS:NYSE) MOS looked great last week and not so hot today. Although there seems to be a basing process going on with the Ag’s, they need to actually break out. Maybe M&A will help the group, but something needs to happen fast before lower lows start getting set.

JP Morgan (JPM:NYSE) Shares of the bell weather financial had a decent day, outperforming the market, but the volume was sort of light for a move of roughly 2.5%. Patience might pay off in this name once the European mess gets off the front page. Bulls might say that the recent pullback was just a gap fill.

Molycorp (MCP:NYSE) Do you realize that you could have bought MCP under $30 earlier this month ? Don’t feel so bad, even speculative traders shy away from names like these on dips. MCP seems to be stabilizing in the mid to high $30′s, but needs something other than higher REE spot prices to really break out. So keep looking for news out of Washington or China for the next move. Also, the $36.50 level looks pretty solid for support.

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STOCKS IN PLAY – CLWR, TQNT

 

CLWR, TQNT, LVS, JPM, DG


Clearwire (CLWR:NASDAQ) CLWR is just a stock that needs to be mentioned. Not because of it’s performance, but because of it’s cultish following from longs. Recently, CLWR once again staged a rally that gave a sign to some that the trouble was over, and they were out of the woods. However, shares of CLWR were rejected today after they broke the $2 handle and the volume is waning to the point where shares look tired. If we pullback next week, the $1.60 level could be in play. Keep in mind that there might be a slew of stop orders at $1.50

Triquint Semiconductor (TQNT:NASDAQ) TQNT is viewed by some speculative traders as a way to participate in Apple Computer (AAPL:NASDAQ) for a smaller cash outlay. However, this time TQNT investors were blindsided with weak guidance despite AAPL stabilizing. The recent drop might represent a buying opportunity to some. There is an upside gap to fill at $6.81 and there are waves of support right above the $5 handle.

Las Vegas Sands (LVS:NYSE) LVS is just a name that even the bravest, most experienced traders often avoid. Both from the long, and when it’s available for borrow, the short side. But today is a little different. LVS posted great numbers and investor sentiment is improving, especially if we see a few more good days in the broader averages. LVS is starting to look a little overbought on a short term basis, but you simply have to throw rhyme or reason out the window regarding this name. In other words the 52 week high of $55.47 could be in play soon.

JP Morgan (JPM:NYSE) To the casual eye JPM looks dead today. However, the volume is very light and today’s relatively break even day so far could be viewed by some as a pause for refresh. Especially after the gap up we saw earlier in the week. As always, keep JPM on you list of stocks, but the low hanging fruit for longs might already be gone.

Dollar General (DG:NYSE) We highlighted DG yesterday as a candidate to be sold by some institutions who are looking to rotate into beaten up brand name stocks. Today DG continued it’s shallow decline, and the technicals are starting to look like they about to roll over. The $38 dollar level is starting to look like the line in the sand for enthusiastic longs.

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STOCKS TO WATCH – MOS, JPM

 

MOS, JPM, GS, DG


Mosiac (MOS:NYSE) This Ag stock might be starting to come back into vogue with hedge funds and prop traders. The overhang from the Cargill sale seems to be over and MOS trades at a significantly lower multiple than it’s peer Potash (POT:NYSE). Shares just broke through a double top on the daily charts, but there is a ton of resistance in the $71-$72 area. Look for MOS to be on a few different swing trade lists.

JP Morgan (JPM:NYSE) The market can’t sustain a rally without the banks moving higher. It’s as simple as that. JPM has and for the near future, will always be one of the top reads for the direction of financials. If you happen to like JPM, don’t be afraid to pair trade the name versus XLF, which is the underlying ETF, to reduce risk. A break of $38.57 on strong volume could solidify a reversal for JPM.

Goldman Sachs (GS:NYSE) It boggles my mind that nobody ever wants to put on a long position in GS after it gets beat up. However, these same skeptics will chase the shares as they go higher until the cows come home. My rationale on the past Goldman fear is pretty simple. Either you believe in their balance sheet or you don’t. Aggressive longs should keep in mind that there is some resistance in the $118 area. A positive close with volume over 12 million shares could really help the cause though.

Dollar General (DG:NYSE) I am only mentioning this retail name because it’s done so well in poor market condition, but isn’t participating today. Maybe DG is overbought ? Or maybe today’s weak performance is just a pause for refresh. Either way, DG could be a candidate to be sold in a rotation that could lead funds into big name stocks that are at perceived discounts.

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STOCKS IN PLAY – AMZN, CAT

 

AMZN, CAT, JPM, MCP


Amazon (AMZN:NASDAQ) Shares of AMZN are already up over 30 plus percent for the year and the bar has been set extremely high for earnings expectations. So even a slight miss could do severe damage to overzealous longs. However, a retest of resistance of 246.71 tomorrow wouldn’t surprise many if the market bids up before AMZN earnings.

Caterpillar (CAT:NYSE) In this economy you even skeptics have to give CAT some credit. Shares are up over 5% today and has the look of a stock that could see some upgrades from some of the major investment firms. Just keep in mind that while CAT could easily retest it’s 52 week highs on positive news out of Europe, there still is a downside gap to fill at $87.50.

JP Morgan (JPM:NYSE) We highlight this name frequently because of it’s influence on the market. The broader averages always have a tough time moving when the banks under perform. It’s as simple as that. On a more positive note, JPM just broke through a triple top and $38.02 looks like the next line in the sand.

Molycorp (MCP:NYSE) Some think the rare earth’s are still oversold, while others can’t seem to justify the market caps. Well, the charts seem to say that MCP has rallied of a decent bottom, but isn’t out of the woods just yet. Keep in mind that political action could play a bigger role in MCP‘s fate than good old spot price fluctuations.

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