My view is little changed after yesterday’s session but slightly more bearish…
Currently holding:
Long – None
Short – None
Looking for swing trade entries in:
Longs – none
Shorts – ACDO, ANF, CSGS, KKD, OSIS, PAYX, SVU, SYY
Potential day trades:
(From Briefing.com)
Gapping Down
REMC -23% (misses JulQ; downgrades from Needham and CIBC), PTMK -16% (misses by $0.09, lowers Y04 guidance), RCII -12% (lowers Q3 guidance; Stephens downgrade), CHIC -11% (expects low-single digit comps vs guidance for mid-single digit comps), MEE -5% (sees Q3 potentially coming in below low end of guidance), CHS -4% (says month-to-date comps down 2%), AZN -3.6% (FDA staff says co’s Exanta risk plan doesn’t address some possible risks — Reuters), MATK -2.6% (reports JulQ), AAPL -1% (Bear Stearns downgrade).
Gapping Up
NOK +7% (boosts guidance on strong volume growth) Up in sympathy: RFMD +8.6%, SWKS +5.8%, TQNT +4.2%, MOT +3.6%, ERICY +2%, PMCS +2%, VTSS +2%…. TXN +3.0% (guidance mixed, but Street had low expectations), Up in sympathy: LSI +3.9%, STM +2.5%, BRCM +2.5%…. Security Stocks running: TASR +3.1% (Second look at inmate death ends Taser suspicion — AP), TBUS +7.1% (co announces surface transit order), MACE +4.2%…. Other news: GMAI +8.7% (reports JunQ), ULCM +8.7% (reports JulQ), CMVT +6.6% (reports JulQ; chosen to provide IM platform for Cingular Wireless), ICPT +6.2% (to be acquired by FNF), GLW +4.3% (reaffirms Q3 guidance), JDSU +4.3% (in sympathy with GLW)…. Under $3: ATAR +10.4% (co and AGI to develop slots based on Atari video games).
