FCX, IR, MSFT, YAHOO, WAMUQ


Freeport MacMoran (FCX:NYSE) Friday should be interesting for FCX, not only because of falling copper prices, but because of what could happen in Europe over the weekend. Well it seems like Deutsche Bank has a different opinion because they were positive on FCX today. Maybe the panic has set in and smart money is starting to dabble.

Ingersoll Rand (IR:NYSE) If you are looking for oversold names, then IR might make your list of stocks. IR had a bad reaction on it’s earnings, but longs might take a shot and use the $26 level as support. Keep in mind that IR will be volatile because of it’s European presence and exposure.

Microsoft (MSFT:NASDAQ) Numbers are out on MSFT and the stock is currently only down fractionally. This could be a sign that the bottom is finally in the market, but the conference call could change that theory quickly. Bears have a point when they mention that the technicals look like a failed breakout.

Yahoo (Yahoo:NASDAQ) Will we finally see a takeover at a price substantially lower than what Jerry Yang refused ? Many tout this name as a major breakup value play and YHOO can play the trump card when it comes to unique visitors. Although, history has shown us recently that the best way to play YHOO is buying on dips and selling on rumors like we are hearing today. Just remember that MSFT has a ton of cash to play with for acquisitions.

Washington Mutual (WAMUQ:PK) We highlight this flagship zombie penny stock frequently due to interest from zombie penny stock scalpers. The support level of 6.5 cents remains in place, but WAMUQ is starting to look very weak for speculative longs who are looking for a swing trade. There are just too many lower highs in this name.

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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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MCP, DG, AAPL, WAMUQ, TOFS


Apple Computer (AAPL:NASDAQ) Apple is ripping again. But is a blowoff top in the works ? Volume would have to be near the 30 million mark for that to happen. For now though, it’s probably best not to short this juggernaut because there is no reason to be a hero. Plus the talk about testing the $500 psyche level are starting. Watch for more upgrades from the herd.

Molycorp (MCP:NYSE) Shares are smashed after the cut by JP Morgan and MCP is starting to look oversold. In addition rare earth prices are falling. However, MCP President and CEO Mark Smith will be testifying before Congress tomorrow about rare earth supplies. So short covering isn’t out of the question.

Dollar General (DG:NYSE) The stock has made a nice move since the Warren Buffet buys, but still needs to retest and break $38.59 on heavy volume to prove that this breakout is for real.

Washington Mutual (WAMUQ:PK) We mention this zombie penny stock frequently to shed color to our scalper followers. We mention the 7 cent level as the line in the sand and WAMUQ ripped from there only to fall back into the trading range. It’s probably wise to continue to use that level as a guide if you have a long bias.

247MGI (TOFS.PK) Shares of this pink sheets penny stock are building a nice base, but are currently down on Tuesday. The news of entering into a billion dollar industry is fluffy, but I have seen worse. Right now TOFS is currently the most active IHUB message board, so it could turn into a decent trading vehicle.

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