It looks like another weak day for technology thanks to HPQ. Frankly I’m tired of watching this market. I see nothing that I want to short right here and the market is too weak to push up the longs that I see. Maybe I’ll catch up on some reading today.
Currently holding:
Long – None
Short – None
Looking for swing trade entries in:
Longs – CRS, CTSH, IFIN, ISRG, NTMD, NUS, POS, SU, RHD, UTHR
Shorts – None
Potential day trades:
(From Briefing.com)
Gapping Down
HPQ -11% (misses by $0.07, guides OctQ below consensus), CYBX -45% (says FDA ignores panel, determines Expedited Review Depression PMA-Supplement Not Approvable; reports in-line, light on revs; guides OctQ lower), DIGE -28% (misses by a penny; guides SepQ below consensus), SONSE -20% (to be delisted from Nasdaq), IDNX -15% (misses by a penny; guides SepQ below consensus), BOBE -12% (misses by $0.04; guides below Y05 consensus), KYPH -11% (cut to Sell at BofA Sec; analysts see stock under n-t pressure), TIF -10.4% (misses by $0.04, guides Y04 below consensus), ASML -5% (removed from Deutsche’s Pan European Focus List), GLW -5% (cut to Neutral from Buy at UBS), SAP -4.1% (overall tech weakness), DELL -1.3% (in sympathy with HPQ; DELL reports tonight).
Gapping Up
TGT +4.1% (beats by a penny), WMT +1.3% (beats by $0.02), MICU +21% (announces positive Phase III results), KMRT +3% (to join Nasdaq-100 Index), ATEA +16% (reports Q2), PARS +12% (receives FDA orphan drug designation), GERN +5% (announces publication showing in vivo efficacy), IPIX +4.3% (announces reseller agreements), AMCC +4.1% (announces $200 mln buyback), MAMA +1.6% (reports small profit).
Mike,
Hey, if you turn the charts upside down maybe it’ll look a lot more exciting. I like the market fine.
I’ll pass on the excitement. I’d just like some retracements so I can get in. I’d feel the same if the market were heading up and I wasn’t already positioned to profit from it.