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Jeremy Frommer, CEO of Hedge Fund LIVE Jeremy Frommer has 20 years of industry experience and is currently responsible for general management and leadership of the General Partner. Previously, Mr. Frommer was a Managing Director and Head of the Global Prime Services Group (“GPS”) at RBC... More
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  • Trade Alert: PLCM
    PLCM, Support Resistance, Highs, Lows

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    Polycom looks like it can continue it’s breakout move. It was a strong stock today in a weak market. Over the past four trading sessions the stock has been making higher highs and higher lows, a indication of a bullish move.  There is widening of the moving averages and looks like the 15SMA will cross above through the 20SMA.  PLCM is trading near its 52 weeks highs of 61.70. Tomorrow, look for the continuation of todays move and for resistnace at the 52 weeek high. The level of support to watch is the 8SMA 58.15.Intra day there are two levels of support first is 60.60 and then 59.91 Right now look to be cautious with any trades given the current way the market is trading. There is room for this stock to go if it has the strength to break through the highs. If the 8SMA does not act as support and trades through there look at 57.50 as  the next support level.

    Jun 07 9:40 AM | Link | Comment!
  • Trade Alert: More Room on the Short Side (BAP)

    Credicorp Limited (NYSE:BAP) provides a full range of financial services including commercial banking, corporate finance, brokerage services, asset management, trust, and insurance.

    BAP closed the day down 18.8% at 82.55 after the results of the Peruvian election and a downgrade from UBS and Raymond James.

    BAP



     
    Jun 07 9:37 AM | Link | Comment!
  • Bank of America Update
     Check out how tight the boilinger bands are on the 1 minute chart for BAC. As it is confirmed by the Shiller Index and the most recent housing report from Zillow.com, it seems as though real estate is now in a definitive double dip mode. BAC, one of the largest mortgage writers is facing higher and higher default rates. It will be interesting to see how the largest bank by market cap will try to move around a shrinking balance sheet this time. Look for an intra-day breakout either to the upside or downside to retest 10.94.
    Jun 07 9:35 AM | Link | Comment!
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