Key Stocks Positioned For Big Moves
The markets are hovering around the flat line as all eyes remain on Europe. Europe has been quiet this week and that is making investors uneasy. The SPDR S&P 500 ETF (NYSEARCA:SPY) $122.28, +0.57 (+0.47%). While the S&P 500 is slightly higher on the day, the technology tracking ETF, PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) is trading at $54.81, -0.08 (-0.15%).
One of the main stocks on the radar today is Research In Motion Limited (USA) (NASDAQ:RIMM). They report earnings after the market closes today. The stock is currently trading at 52 week lows as Wall Street awaits the report. The bearish sentiment is high right now which may mean bad news is already factored in.
First Solar, Inc. (NASDAQ:FSLR) dropped over 20% yesterday. This stock is down again, trading at $32.01, -1.44 (-4.30%). The company warned on future earnings results and today hit a low not seen since 2006. At this point, the stock is near a longer term low and into major support. While the stock continues to be high risk, upside is likely from here.