STOCKS IN PLAY – RIMM, WAMUQ

 

RIMM, NEM, IR, EQY, WAMUQ


Research in Motion (RIMM:NASDAQ) Shares are up sharply on the rumor of an Icahn stake. We have highlighted RIMM frequently for a while, and also mentioned that some felt the $20 handle was in play. Well last week RIMM came very close. But are shorts throwing in the towel ? Well if Carl Icahn buys they might. At this point there does seem to be some short term support in the $22 range.

Newmont Mining (NEM:NYSE) Some gutsy traders stepped into gold stocks for a taste on the recent slide, but have seen mixed results. NEM is currently trading lower despite in a nice move in the precious yellow metal. Keep in mind that NEM sometimes lags the underlying commodity for a day or so. There is also an upside gap to fill at $67.58.

Ingersoll Rand (IR:NYSE) IR is a nice liquid, listed trading stock that isn’t mentioned often. Shares have recently formed a nice rally of a short term bottom. However, that could be reversed if IR rallies to the $35 level, which may give some shorts a tasty short term signal.

Equity One (EQY:NYSE) Shares of the REIT ripped today after a sale of some of the company’s properties. EON was talked up by analysts and might be attractive to some who can’t find a decent yield in this bond market. Just watch $17.49 as a resistance level.

Washington Mutual (WAMUQ:PK) The king of zombie penny stocks is having a nice day so far. The volume isn’t quite there to confirm a rally, and some longs might be eyeing the upside gap fill number of .087 as an exit point. Always have WAMUQ on your penny stock list. Especially if you are a scalper.

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STOCKS IN PLAY – RIMM, CLWR

 

RIMM, CLWR, PYMX, AAPL, JPM

 
Research In Motion (RIMM:NASDAQ) In prior entries we touched on the probability that the $20 handle on RIMM could be in play. Despite the stock being higher. Although right now, $20 isn’t too far away. Even at these levels, RIMM looks like a value trap. Stay on the sidelines if you have a long bias, and don’t get sucked in by another stock buyback or if other shareholder friendly actions are announced, because they never seem to work for RIMM.
 
Clearwire (CLWR:NASDAQ) We have touched on this low priced name before, and it’s relation to Sprint (S:NYSE). At this point, it would take a major news story to move CLWR. Mainly because there is a downside gap to fill at $2.06. The sidelines are best place to be on this penny stock.
 
Polymedix (PYMX.OB) This biotech penny stock is building a nice base and has set a number of higher highs on PR’s. PYMX could develop into a nice trading vehicle, but this recent uptrend has been on light volume. A break of the high’s is needed, and the volume needs to be in excess of 500k for a true trend to start. Either way, add PYMX to your penny stock list.

Apple Computer (AAPL:NASDAQ) A break of the $400 handle should spur cable talking heads and some short covering. This stock is a beast and who knows where AAPL could go if you Europe becomes calm again. Just remember that a lot of the low hanging fruit is already gone.

JP Morgan (JPM:NYSE) JPM has staged a nice rally off it’s short term bottom of $31.20. But where does it go from here ? A break of of $35 could lead to an upside gap fill at $36.29. Always watch JPM as a read for other bank stocks.

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