Much to my surprise, given all the selling yesterday, I have more longs that shorts on the list today. I did initiate a couple of short positions yesterday so we’ll see how they play out.
Currently holding:
Long – None
Short – ERES, IDT
Looking for swing trade entries in:
Longs – ALDN, MBT, RDA, SAXN, URBN, VIP, WNC
Shorts – BRCM, ENDP, NARA, NSM
Potential day trades:
(From Briefing.com)
Gapping Down
PPX -14% (faces probe over cancer drug – WSJ; 60% of float is short), CMRC -49% (may file for bankruptcy), AUGT -19% (guides Q3 & Q4 revs well below consensus), PWER -8.5% (guides lower; First Albany downgrade), AIRM -6.6% (guides Q3 lower), ANDW -6% (lowers SepQ guidance), OIIM -4.1% (guides below Q3 and Q4 consensus), BBBY -3.6% (reports AugQ), DECK -3.3% (RBC downgrade), COCO -3.1%, BOBJ -2.6%, TEVA -1.8%, ARBA -1.6% (in sympathy with CMRC), NOK -1.5%.
Gapping Up
MERX +7.4% (beats by $0.02; CSFB upgrade), MAGS +5% (to participate in 2 upcoming security trade shows), CYBX +4.8% (receives conditional approval of Treatment IDE), COGN +4% (beats by $0.04, guides Y05 above consensus), IPIX +3% (sympathy with MAGS), LVLT +2.7%… Cargo Ships strong: BJO +5%, EXM +4.8%, TOPT +2.3%….. Under $3: GIGM +10% (momentum from 32% move yesterday).
*** those cargo ship charts are insane!
