Molycorp Inc (NYSE:MCP) is trading at 52 week lows and hated by most investors for its poor performance. While the markets trade near all time highs, this stock has fallen throughout 2014. That may be about to change. Commodity stocks in all sectors have started to catch a big bid. Look at stocks like ConocoPhillips (NYSE:COP) in the oil sector or Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) in the copper and gold sector. They are all taking off to the upside. One of the few commodity sectors that has not started to run is rare earth mineral plays. This is the bread and butter for Molycorp Inc. At a current price of $2.55, it is priced at almost bankruptcy levels. This can be looked at as a high risk but also very high reward play. Commodities are hot and likely to get hotter.
Chief Market Strategist
2014 has been a somewhat of a sour note for investors of Pandora Media Inc (NYSE:P). This year the stock of the internet radio company has been all over the map. It came flying out of the gate with a price surge eclipsing the $40 level ($40.44 to be exact). It was up some 52% in a little over 2 months, which was on top of the nearly 200% gain it had in 2013. All shareholders were singing a happy tune all the way to the bank.
Then on March 5 of this year the music came to a screeching halt. All of sudden this can’t miss social media stock, which was constantly being rumored to get taken out by various tech companies, couldn’t seem to find “that loving feeling” from investors. Shares of Pandora Media Inc (NYSE:P) got smacked down hard to the tune of almost 47%! And as always, the pendulum, which had been on the side of the bulls for so long, clearly swung the other way in favor of the bears.
This equity put in a bottom in late April at $21.47 and has slowly clawed its way higher and is actually positive for the year. Now before we all get ready to jam and rock out on the bullish side, lets take a look at the chart below. As you can see the stock remains below its daily 200ma and is into a big resistance level, not to mention a 38.2 fibonacci retrace. This tells us that Pandora Media Inc (NYSE:P) is still singing the blues.
For live market insight, chart setups that take advantage of the market moves and real trades when we initiate them… come step inside the Elite Round Table and enter profitable trades, with the proven Pro’s. We look forward to having you join us as we navigate the markets and make money!
Follow me on twitter: @ParmMannTrader
Join the Elite Round Table on Facebook
This morning, share of the home-furnishing retailer, Bed Bath & Beyond Inc (NASDAQ:BBBY) are getting slammed lower after reporting quarterly result that were lower than expectations. The popular retail stock is declining lower by $5.61 to $55.50 a share. Traders and investors should note that the stock is now trading below its important 50-week moving average. Anytime a stock falls below this critical moving average it is generally a sign of sharp institutional distribution. Traders will now have to look at the chart to find the next near term support area for the stock. In December 2012, Bed Bath & Beyond Inc stock traded as low as $54.33 before reversing and trading to new all time highs earlier this year. This tells us that the $54.00 area will be the next near term support level for the stock. Should that support level fail to hold Bed Bath & Beyond Inc stock will have more support around the $48.35 level. This support area was a break-out point in 2011. Often, past breakout points will serve as excellent support levels when retested.
Step inside our swing trader service with our seven day free trial to the Research Center; get swing trade alerts when we buy, sell and enter new positions. Check out our track record of calls given in the Research Center right here. You can’t deny the facts, if you follow our trades you will earn consistent profits… join us today and profit for life.