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4 Nov

Stocks On Watch For Friday November 4, 2011

by

Rumored as a possible buyout by Korea’s LG Electronics shares of Suntech Power Holdings (NYSE:STP) soared last week but then retraced fully when LG and Suntech denied the rumor. Resting just above the 20 Moving Average of $2.44 this is a potential short term buy for me between there and the 50 Moving average of $3.16 on any renewed buyout hype. A break below that support level and I’ll move STP to my short list with a range of $2.44 to $1.97. According to the Wall Street Journal STP is set to announce Q3 earnings on 11/16/11.

Local.com (NASDAQ:LOCM) is one of my favorite stocks to trade with thousands in verified profits in the last 6 months. This video details some of those trades. Thursday shares responded nicely to Wednesday’s after hours earnings. With the daily deals space heating up and Groupon’s IPO coming up today, I’ll watch LOCM for a small pullback and then trade between $3.00 and $4.00 in the short term.

A123 Systems Inc. (NASDAQ:AONE) decreased guidance Friday. With futures pointing down this morning there is a good chance AONE continues down and possibly tests support at $2.77. Needless to say AONE is on my short watch this morning from Thursday’s close at $3.53 to $2.77 with the recent low signaling a larger sell off. AONE is to report Q3 earnings on 11/9/11 according to the Wall Street Journal.

Glu Mobile (NASDAQ:GLUU) did not impress Wall Street with their numbers Thursday in the after hours session. And while I’m ultimately bullish long term on Glu, the stock is near overbought so it would have needed to really impress to sustain the recent buying it has seen. Support is seen at the 20 and 50 Moving Averages of $2.95 and $2.93 allowing for a nice trading range to the downside.

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2 Comments

  1. cheryl

    Yo…am trialing your service, hoping it will be the one I can relate to.
    thanks

    Reply
    • Jason Bond

      I hope so too Cheryl, thanks for stopping by. Email me with any questions.

      Reply

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