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4 Hot Stocks to Trade (or Not)

Mako Surgical

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Nearest Resistance: $21

Nearest Support: $14

Catalyst: Q2 Earnings, Downgrade

Small-cap medical device maker Mako Surgical (MAKO) is getting utterly shellacked today, down more than 40% this afternoon. When a small-cap name makes the list of the most-active stocks in the market, you know something big is going on -- and it's clear from Mako's price action today that that something isn't good. A big downgrade from Goldman Sachs (GS) after yesterday's opaque (but negative) earnings call was the big precipitating factor for Mako.

>>5 Health Care Stocks Setting Up to Break Out

Mako is in freefall right now, and it'd be a mistake to think that today's selloff is the end of it. Shares gapped down hard this morning, but they've been in a sustained downtrend since April, a time over which the stock's value declined by close to 65%. Mako's fundamentals might attract some bargain hunters at these levels, especially given that it has plenty of liquidity and no debt on its balance sheet.

Mako may be cheap by some measures, but it's far enough away from support that it could get much more cheap in the near-term. I'd recommend sitting this one out.
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