Like Penny Stocks? Here’s My Pick
The
Savvy Macrowave Investor:
Slouching Towards Bethlehem
Market Trend: Weakly up
Market Outlook:
XMAS-dependent
Peter’s Picks:
(
CPTC |
Quote |
Chart |
News |
PowerRating),
(
ITMN |
Quote |
Chart |
News |
PowerRating)
Peter’s
Market Take:
It’s Beginning to Look a Lot Like Xmas
So how was your Xmas? That’s
the big question that retailers are soon going to be answering, and any strong
affirmative answer will likely hold up the rally for another leg up —
while disappointing Xmas sales would be just the trigger for what most analysts
now believe is a long-overdue correction.
Leading up to January, I
suggest you carefully review your own portfolio rather than plunging into more
positions. Weaning long-held laggards — if they haven’t gone yet,
they probably won’t. Thin winning positions to take some profits off the
table and start playing with the House’s money.
The other big item to keep
your eye on this week will be oil prices. The latest Iraqi attacks involved
some pretty heavy hits on oil flow in that Allah-forsaken place. Oil price spikes
in what is looking to be a cold winter can be a lethal bearish combo.
Peter’s
Picks:
(
CPTC |
Quote |
Chart |
News |
PowerRating),
(
ITMN |
Quote |
Chart |
News |
PowerRating)
My penny pick of the week I owe to my veterinarian who pointed this one out.
Thanks, Doc! It’s Composite Technology Corp
(CPTC.OB). It’s an Irvine-based company that has a better
mousetrap in the transmission wire department. Its high tech cable gives you
a 2-for-1 boost in transmission performance so it can take a congested grid
and effectively double its capacity. Nice. But be careful here, as this one’s
already run pretty good. I think its got 10-bagger potential but caveat emptor.
https://www.compositetechcorp.com
While I have dumped an earlier pick of the week which misbehaved
(
NRRD |
Quote |
Chart |
News |
PowerRating),
Irvine Sensors continues to show very nice strength. Plus, another
pick of many months ago, Intermune
(
ITMN |
Quote |
Chart |
News |
PowerRating), has formed a nice base and is likewise showing some strength.
The
Week’s Macro Data Market Movers:
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I’ll be watching
consumer sentiment carefully on Tuesday, as two weeks ago it took an unexpected
dip. Was that a true dip or a statistical blip? Inquiring Wall Street traders
will want to know — and react accordingly.
Both the durable goods and
GDP numbers will be interesting and likely confirmations of the recovery while
reading the personal income tea leaves should allow us to fathom whether the
fall-off in refi money is going to force a consumers’ expenditure retreat.
If you
have a favorite macroplay or stock you would like us to consider in this column,
send an e-mail to peter@peternavarro.com or go directly to https://www.peternavarro.com.
We’d love to hear from you.