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TheStreet Open House

5 Beaten-Down Stocks That Could Rebound in 2012

Stocks in this article: MOTRSQNSTRIDHSOLSIGM

Trident Microsystems

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Yet another January Effect play is semiconductor player Trident Microsystems (TRID), a provider of multimedia semiconductor solutions for the digital home entertainment market. This stock has been destroyed by the sellers in 2011, with shares off by 90%. Trident traded as high as $1.99 in 2011, but that level is far removed from shares' current price of just18 cents.

This is another name that I think traders are going to find attractive for a January Effect play since Trident's total cash per share is 20 cents -- meaning it is currently trading below its cash per share value. Market players often consider any stock that trades near its cash per share value as ridiculously cheap. Shares of TRID are already ticking up 5.9% today, and it's off its recent low of 15 cents, so that January Effect buying could be starting.

>>5 Stocks Under $10 Set to Soar

My trading plan for TRID is to get long off any weakness and simply place a mental stop 10% below that recent low of 15 cents. If that low holds, then we could easily see Trident bounce huge from current levels if buyers step in. My target off any high-volume bounce is its 50-day moving average of 32 cents a share. Look for volume on any decent up day to track in near or above its three-month average action of about 1.1 million shares.

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