Thursday, September 6, 2007

Bargain Bin shopping time

It is nearly mid-afternoon (1:30 pm Eastern time) on a deceptively quiet afternoon in the marketplace. Do you know where your stocks are? It's time for another look at the bargain bin and see if any of my A and A- grade stock picks happen to be there.

Apple 134. AAPL is down 11 points off its recent high, 22 points above its mortage meltdown low of three weeks ago. Four huge days up were met by the selloff yesterday and today, triggered by the Co's announcement of lower iPhone prices, but mostly (I think) a lot of profit-taking. Yesterday's volume was major (83 million shares), but today pullback is on just 42 million so far. Now that the stock has dropped close to its 13-day simple and exponential moving averages, selling will dry up soon enough. The iPod Touch is a whole new realm of techno ecstacy. It will be quite a merry Christmas this year. Pupule says: Wait a little more.

Amazon 84. On a roll, up for a fourth day in a row. Well off its high of 88 and far above its moving averages. Intriguing to see how much and how soon AMZN will make inroads in the Middle Kingdom. Pupule says: Wait, wait, wait.

Crocs 57. Downgraded to 'hold' by Zacks today, the stock is up 3.3% anyway. Yesterday, CROX traded at a low of 54.48, well below its 13-day moving averages. Today's gain means the stock is right at its 13-day averages. Pupule says: Buyable, but not a bargain.

Garmin 106. I keep waiting for this baby to pull back to a decent price, but it just won't. Trading at an all-time high now, but decreasing volume says that GRMN may be ready for a breather. Pupule says: Worth waiting for.

Research in Motion 83. Two days of declines were met with today's fractional gain (so far). trading above its 13-day MA. Pupule says: Wait.

Baidu 219. Uh-uh. Today's miniscule pullback in China's favorite search engine is on much lower volume (after two days of major upside volume.) BIDU is a trader's fantasy, an investor's temptation. Pupule says: Wait.

Blue Nile 79. Insider selling has pissed off some longs and fed the bears. Here, NILE is well below its 13-day MA and near its 50-day MA. After significant volume on two down days (Tuesday and yesterday), today's minor gains come on mediocre volume. I'm not convinced the selloff is done, but I wouldn't be shy either. Pupule says: Buy.

Chipotle Mexican Grill 104. CMG is pulling back, but the heights here are still dizzying. Pupule says: Wait.

CNOOC Ltd. 122. For so long, CEO was available at true bargain prices. From August 10 to 22, the stock traded below its 13-day MA, and on several of those days, was below its 50-day MA. Now it's just too expensive even without today's 2.5% gain. Pupule says: Wait.

Flowserve 71. FLS is trading below its 50-day SMA, still a decent price. Pupule says: Not a bargain, but the price is right.

Google 523. GOOG is down more than 4 bucks (less than 1%) so far today, but the gains of the two previous days leave the stock above all moving averages. Pupule says: Wait.

Nintendo 55. Today, NTDOY.PK is trading up at about 58, which leaves the stock right at its 13-day moving averages. Yesterday's price was better, of course. Pupule says: Buy small, if anything.

Potash 89. Pricey here. POT hasn't been a bargain since August 21. Pupule says: Wait.

Under Armor 63. Short interest in UA was 50% just one month ago, but is down to "only" 32%. Today's 2.1% pullback brings the stock below its 13-day moving averages. Pupule says: Buy cautiously, not in bulk.

Today's best buys

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