Monday, June 2, 2014

3 ‘Cheap’ Stocks Set to Double: RAD, FIG, WEN

Sometimes the stock market will punish a great company for no good reason, and send a stock below its fair value.
Wouldn’t it be great if you could identify which stocks under $10 sold off without a good reason, so you could jump in and profit?
Here are three stocks I think have done just that, and why you might see a 100% return from each.  (more)

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VeriFone Systems Inc (NYSE: PAY)

VeriFone Systems, Inc. designs, markets, and services electronic payment solutions at the point of sale worldwide. It provides countertop electronic payment systems that accept card payment options, such as NFC, mobile wallets, chip and PIN, and contactless payments, as well as support credit and debit card, EBT, EMV, and other PIN-based transactions; an array of software applications and application libraries; and portable solutions that support 3G, GPRS, Bluetooth, and WiFi technologies. The company also offers multimedia consumer facing POS devices; unattended and self-service payment solutions designed to enable payment transactions in self-service environments; and integrated electronic payment systems that combine electronic payment processing, fuel dispensing, and ECR functions, as well as payment systems for integration.
To review Verfone’s stock, please take a look at the 1-year chart of PAY (VeriFone Systems, Inc.) below with my added notations:
1-year chart of PAY (VeriFone Systems, Inc.)
PAY has been trending higher all year and since February the stock has been climbing a trendline of support (blue). Over the last 2 months though, the stock has formed at 52-week high resistance at $35 (red). At some point PAY will have to break one of those two levels.

The Tale of the Tape: PAY has a $35 resistance and an uptrend line of support to watch. A long trade could be made on either a pullback down to the trendline, which currently sits near $32, or on a break through the $35 resistance. A break below the trendline support should lead to lower prices.
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Ralph Acampora: Expect a Correction by the Fall – But We Are Still in a Secular Bull Market

Also, Ryan Puplava, Erik Townsend and Tom Smith

Jim welcomes back Ralph Acampora of Altaira Wealth Management this week. Ralph is a pioneer in the development of market analytics and has a global reputation as a market historian and a technical analyst. He sees international capital still coming into the US stock market.
Click Here To Listen
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Chart of the Day - Globalstar (GSAT)

The Chart of the Day is Globalstar (GSAT). Since the Trend Spotter signaled a buy on 4/22 the stock gained 21.09%.

GSAT INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. GSAT products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from GSAT with increased productivity from remote areas beyond cellular and landline service. Global customer segments include: oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness, and business continuity as well as individual recreational users. GSAT data solutions are ideal for various asset and personal tracking, data monitoring and SCADA applications.

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US Weekly Economic Calendar

time (et) report period Actual forecast previous
9:45 am Markit PMI May   -- 56.2
10 am ISM May   55.8% 54.9%
10 am Construction spending April   0.8% 0.2%
Tuesday, JUNE 3
10 am Factory orders April   0.8% 0.9%
TBA Motor vehicle sales May   16.1 mln 16.0 mln
8:15 am ADP employment May   -- 220,000
8:30 am Trade deficit April   -$40.8 bln -$40.4 bln
8:30 am Productivity Q1   -2.9% -1.7%
10 am ISM nonmanufacturing May   55.5% 55.2%
2 pm Beige Book        
Thursday, JUNE 5
8:30 am Jobless claims 5/31   311,000 300,000
8:30 am Nonfarm payrolls May   200,000 288,000
8:30 am Unemployment rate May   6.4% 6.3%
3 pm Consumer credit April   -- $17.5 bln
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