Krispy Kreme Doughnuts (KKD:NYSE) Many thought with KKD would rally in anticipation of a valuation surge based on the upcoming Dunkin Brands IPO. However, KKD is still under $10 and has a market cap of roughly $615 million. Still, shares of KKD be watched, especially if Dunkin Brands does as well as many think it will.
Portage Resources (POTG.PK) This stock was absolutely a beast earlier in July. Some thought shares of POTG would be the next big promo stock. However, in the last 5 days the chart looks atrocious. Other than a bounce on strong volume earlier on Tuesday, shares of POTG have been in a major downtrend. But, that could change if we see a broader market rally and penny stock traders become more aggressive. Especially, the bounce buyers.
Netflix (NFLX:NASDAQ) Yesterday we highlighted $250 as a contested level in NFLX. Shares held the $25ish level and considering the numbers, staged a little bit of a rally on volume that was almost 3x the norm. Maybe the rally was caused by bounce buyers ? Or maybe it was simply short covering ? Either way the sidelines might be the best place to be.
Avalon Rare Metals (AVL:AMEX) AVL is one of the lower priced legitimate rare earth stocks in the market. Shares rallied sharply after news of General Electric (GE:NYSE) apparently issued a paper on rare earth prices increasing. These stocks can go crazy and create massive gains for longs when the stars align, but we are still in a weak market. The $7 level also seems to create resistance.
Jammin Java (JAMN:OB) JAMN has been nothing less than a disaster for those who didn’t sell into the rally, and the message board community is extremely negative on the name. Will this sentiment and the Wednesday’s Dunkin Brands create a bounce ? Will the naked shorts finally cover ? Add JAMN to you penny stock list on a just in case basis.
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Legend Oil and Gas (LOGL:OB)We have mentioned LOGL a few times before and yesterday shares reached a 52 week high. Add to your penny stock list just in case there is follow through.
S&P 500 (SPY:NYSE)The grandaddy of all ETF’s was smashed today. Were the pundits correct in saying “Sell in May and go away” ? Or is there a little bounce coming today ?
Bank of America (BAC:NYSE) People seem to be getting worried about the banks again and when this happens BAC usually seems to get hit. Wells Fargo (WFC:NYSE) followed suit yesterday as well. Watch the (XLF:NYSE) ETF for some guidance if you are in the bank sector.
SPDR Gold Trust (GLD:NYSE)Rumors of QE3 could put this one back into play. If that happens there could also be some opportunities in gold mining penny stocks.
Multicells Techs (MCET:OB)Gave back much of it’s gain from Tuesday on heavy volume. This type of action sometimes brings in bounce buyers who took profits from the day before. Add to you list of stocks for now.
Washington Mutual (WAMUQ.PK)Remains active on message boards and even more active amongst penny stocks scalpers.Remember to have a super short time frame if you decide to get involved with this one.
Netflix Stock (NFLX:NASDAQ) Backed off yesterday’s all time high to close lower Wednesday. Always monitor all time highs on this one because they often spur short covering.
American Superconductor (AMSC:NASDAQ) We have often mentioned AMSC because it has been newsy and volatile. The stock was smashed yesterday, but remember that there is a cult following in the one and it has a ton of shorts in it.
Sunrise Consulting Group (SNRS.PK)– SNRS was the most active pink sheets stocks yesterday on a PR that was related to the sale of a patent. SNRS also just planned to put a stock buyback in place. This is a sub penny play so there could be some interest again today.
Potash (POT:NYSE)Ag’s sold off with the market yesterday, but still seem to be one of the stronger group. POT could be a nice bounce candidate if the market recovers today.
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