Top Takes From RealMoney

The RealMoney contributors are in the business of trading and investing all day on the basis of ongoing news flow. Below, we offer the top five ideas that RealMoney contributors posted today and how they played those ideas.

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1. Big Squeeze Coming on JPMorgan Chase?
By Alan Farley
7:27 a.m. EDT

JPMorgan Chase (JPM Quote), a long-side pick in my TSC newsletter, The Daily Swing Trade, may be setting up for a major short squeeze. The stock has carved out a bearish descending triangle in the last three weeks, with the falling highs trend line sitting right around $36.50.

The stock is trading above that level this morning, putting pressure on the logical stops placed by short-sellers. This can be an incendiary setup, in which a stock "melts-up" as stops are hit and shorts cover in panic.

Annotated chart here.

Long JPM.

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2. One Thing to Consider About Facet
By Sham Gad
10:11 a.m. EDT

Although Facet Biotech (FACT Quote) shows a negative EV of some $88 million (stock price is $9.50, cash per share is $14, no debt), the company does have lease obligations over the next five years that effectively equal the $288 million in cash on the balance sheet today.

I still think the stock is very cheap, and the company plans to have at least one phase III drug by next year. Within five years, the company is set to recieve several milestone payments, so the balance sheeet is cash rich, but don't expect a special payment or anything.

Lond FACT.