It looks like stocks are attempting to
stage a tepid attempt at rebounding from Monday and Tuesday's sell off
this morning — but investors beware, nothing has really changed at this
point. Europe remains a major problem for U.S. investors, and until
that's actually resolved, investors should expect volatility to be a
major concern in stocks.
This is a news-heavy week, with employment numbers and the result of the Fed's latest FOMC meeting hitting Wall Street today alone. With so many factors pushing stocks around, it's crucial to be tactical about stocks right now.
To that end, let's take a look at some of the small-cap stocks in play right now:
Eastman Kodak (NYSE:EK 
: 1.125, -0.075): This stock
has been under fire in the last few weeks, as bankruptcy rumors swirl
with an already anxious investor base. Forget the (still uncertain)
fundamentals for a second — there's a trade shaping up in this stock for
more advanced readers…
A descending triangle in shares makes EK a worthwhile short candidate, but only if shares can move below $1.10. That's the nearest support level of significance right now. If that breakdown happens, 75 cents is a high probability price target for the near-term.
Hecla Mining (NYSE:HL : 6.42, 0.26):
Hecla is another small-cap name worth watching this week. Junior miners
have been under pressure for much of the last quarter, and Hecla's
chart gives a good example of what the industry is dealing with. Watch
for a break above the upper trendline in Hecla. When that move happens,
it could be marking a change in trend for this stock (and other junior
miners as well).
Barring a technical shift in these names, we wouldn't be buyers of mining stocks right now…
Lions Gate Entertainment Corp. (NYSE:LGF : 8.59, 0.1): Lions Gate continues to ignore the market
pullback, posting new 52-week highs this morning. Today's action builds
on the accelerating uptrend that has been in place since mid-October.
LGF could be a solid bet in the near future, but beware — this stock
looks overbought today. Watch for a pullback or sideways consolidation
before you make your move…
Penny Promotions
Raystream Inc. (OTC:RAYS): RAYS is one of the strongest promotions we've seen in months:
Aside from a couple of controlled dips, RAYS has drawn a stair-step
chart — perfect for attracting unsuspecting new buyers. This
heavily-promoted stock recorded another day of record volume Tuesday,
leading me to believe that a shakeout could be coming soon. If you
bought into this promotion, it would be wise to cash in your paper gains
now.
Legend Oil & Gas (OTC:LOGL): A paid mailer making the rounds right now claims that LOGL could break $10 by the end of the year. At $2.60 per share and going nowhere, we would be shocked if the stock topped $3. Promotions for LOGL have been floating around since earlier this year, but the stock price appears to be too erratic to attract any buyers.
Sources: http://www.istockanalyst.com/finance/story/5517928/today-s-market-movers-ek-hl-lgf-and-more
This is a news-heavy week, with employment numbers and the result of the Fed's latest FOMC meeting hitting Wall Street today alone. With so many factors pushing stocks around, it's crucial to be tactical about stocks right now.
To that end, let's take a look at some of the small-cap stocks in play right now:
: 1.125, -0.075): This A descending triangle in shares makes EK a worthwhile short candidate, but only if shares can move below $1.10. That's the nearest support level of significance right now. If that breakdown happens, 75 cents is a high probability price target for the near-term.
: 6.42, 0.26):
Hecla is another small-cap name worth watching this week. Junior miners
have been under pressure for much of the last quarter, and Hecla's
chart gives a good example of what the industry is dealing with. Watch
for a break above the upper trendline in Hecla. When that move happens,
it could be marking a change in trend for this stock (and other junior
miners as well). Barring a technical shift in these names, we wouldn't be buyers of mining stocks right now…
: 8.59, 0.1): Lions Gate continues to ignore the Penny Promotions
Raystream Inc. (OTC:RAYS): RAYS is one of the strongest promotions we've seen in months:
Legend Oil & Gas (OTC:LOGL): A paid mailer making the rounds right now claims that LOGL could break $10 by the end of the year. At $2.60 per share and going nowhere, we would be shocked if the stock topped $3. Promotions for LOGL have been floating around since earlier this year, but the stock price appears to be too erratic to attract any buyers.
Sources: http://www.istockanalyst.com/finance/story/5517928/today-s-market-movers-ek-hl-lgf-and-more
No comments:
Post a Comment