There were some nice moves in two of the stocks on the list Friday — MRVL and TTWO. As I said in my last post, we’re now at a juncture where I wouldn’t initiate any longs, so I’ll just be holding on to what I have as I wait to see how the market handles the nearby resistance. You know I really don’t like these type of gaps — the ones that come after a strong move and go right into resistance (or support for a down leg and a gap down opening).
Currently holding:
Long – INFY, ISRG, URBN, WBSN
Short – none
Looking for swing trade entries in:
Longs – None
Shorts – IACI
Potential day trades:
(From Briefing.com)
Gapping Down
SPRT -22% (reduces guidance), MOBI -17.5% (lowers guidance), AGIX -10% (negative Barron’s article), XMSR -3.1% (disappointing sub numbers), PSFT -2.1% (Schwab SoundView downgrade), SWFT -4.2% (formal SEC investigation focusing on stock trades by CEO, other insiders).
Gapping Up
STEC +25.5% (boosts guidance), SEBL +17% (issues upside guidance), HTCH +10% (raisese guidance), GENR +9% (granted FDA fast-track), CACS +8.3% (Janney upgrade), BEAS +7% (finds bid on positive SEBL guidance), TZOO +6.2% (positioning ahead of next week’s earnings release, speculation of stock split, general market strength), NIHD +2.7% (Russian stocks rally on positive valuation of Yukos unit), ORCL +2.3% (general market strength, SEBL guidance),
