This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

3 Hot Stocks to Trade (or Not)


Nearest Resistance: $25.50
Nearest Support: $24
Catalyst: Dividend Initiation and Buyback Hike

>>3 Tech Stocks Under $10 to Watch

Another name that's rallying today -- albeit less violently -- is EMC ( EMC). EMC is up more than 5% in this afternoon's early trading after the firm announced that it was initiating a 10-cent quarterly dividend and buying an extra $5 billion worth of its own shares. The dividend gives EMC a currently yield of 1.7%.

From a technical standpoint, EMC has had a rough year. While today's solid move higher is helping, it hasn't broken the technical downtrend that's been pressing shares lower for all of 2013. Investors should watch out for overhead resistance at $25.50.

Barrick Gold

Nearest Resistance: $21.20
Nearest Support: $19
Catalyst: Miner Rally

Gold miners are rallying hard on gold's bounce today, and $21 billion mining firm Barrick Gold ( ABX) is leading the pack in terms of trading volume this afternoon. Barrick is one of the largest gold producers in the world, with more than 140 million ounces of the yellow metal in its proven reserves, so it's no huge surprise that it's become the go-to way to get exposure to gold miners.

Barrick looks stellar from a technical standpoint. While the stock bottomed out in late April, it's been forming a bullish ascending triangle bottom more recently, and shares are testing resistance at $21.20 today. If ABX can hold above $21.20 tomorrow, I'd call that a buy signal.

To see these stocks in action, check out the at Most-Active Stocks portfolio on Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.


>>5 Defensive Stocks to Protect Your Portfolio Gains
>>4 Huge Stocks Ripe for a Sharp Pullback

>>3 Homebuilders Ready to Fall Down

Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji, CMT, is a senior market analyst at Agora Financial in Baltimore and a contributor to TheStreet. Before that, he managed a portfolio of stocks for an investment advisory returned 15% in 2008. He has been featured in Forbes , Investor's Business Daily, and on Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation.

Follow Jonas on Twitter @JonasElmerraji


2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
NVE $0.00 0.00%
ABX $13.02 0.00%
EMC $28.94 0.00%
AAPL $128.46 0.00%
FB $78.97 0.00%


DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs