There have been some nice upward moves that broke intermediate downtrends over the last couple of days. I’ve added several of those stocks to my watchlist in TC2000. I’ll be looking for dips to try to get long them. Here are a few so you can see what I’m talking about: ELBO, GME, MYGN.
I suspect there may be some strike-pinning going on for the rest of the week since this is an expiration week.
We all know that Google starts trading today. This is very interesting given all the negative talk about the IPO (via Briefing.com):
08:47 GOOG Google: ThinkEquity starts coverage of today’s IPO with a Buy and $120 price tgt.. deal priced at $85
It should be fun to watch this puppy trade today.
Currently holding:
Long – None
Short – None
Looking for swing trade entries in:
Longs – RHD
Shorts – AAP, BEC, CDWC, COH, CVC, DVA, HOT, IMCL, ORLY, TSN, UNFI, YHOO
Potential day trades:
(From Briefing.com)
Gapping Down
SNPS -29% (beats by a penny, but guides Q4 below consensus), down in sympathy with SNPS: MENT -10.6%, LAVA -8.6%…. Other news: DV -10% (reports JunQ; downgrades from JP Morgan, Legg Mason and Piper), ROST -4.7% (downgrades from Piper, Jefferies, Wells Fargo after co reported yesterday), CIEN -4.1% (reports JulQ, disappointing guidance), QLTI -2.9% (cut to Source of Funds from Buy at ThinkEquity).
Gapping Up
CAI +12.4% (beats by $0.11, beats on revs; raises Q1 and Y05 guidance; RBC upgrade), HOTT +8.7% (reports JulQ; announces stock buyback)…. AMZN +1.4% (to buy China’s biggest Internet retailer) Asian Internet stocks up in sympathy: CHINA +7.4%, SOHU +4.1%, SINA +4.0%….. Other News: MYL +5.8% (FTC grants early termination of waiting period for Mylan stock purchase plan by Icahn), NT +5.6% (annouces restructuring plan, updates restatement; announces preliminary, unaudited results for Q1, Q2), AFFX +3.8% (Piper upgrade), MANT +2.8% (wins USAF contract).
