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Two Ways To Play: Nokonfidence In Nokia


Strengthen your portfolio in good times and bad.

Nokia (NOK) had a rough session today. According to the Associated Press, shares of the world's largest cell phone maker plunged nearly 10% intraday because the company forecasted a drop in third-quarter market share.

As reasons for the cut in guidance, the company cited a drop in consumer confidence that would weaken demand in multiple markets. In July the company predicted that its markets share would be about the same as the second quarter's 40%.

Still, Nokia expects a 10% growth in handset volume for the full year, up from last years 1.14 billion.

NOK shares ended the session -7.58% to $20.62.

From the Bull Pen: Bulls can look to Research In Motion (RIMM). Did the stock successfully test its July low (near $101)? Sell stops can be set below that level on upside tries.

From the Bear Cave: Google (GOOG) has broken significant support, but shares could rally within the next week. Bears wishing to play the downside might consider fading (read: sell) a move towards $475 which would mark a 50% retracement from the August high.

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No positions in stocks mentioned.

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