It’s starting to feel like the movie Groundhog Day with all of these narrow range days. That will likely stop today after the Fed decision. The bulls have to be happy that the market hasn’t slipped at all over the last three days. It almost feels like the path of least resistance is higher.
Once again I’ll just be sitting on my current positions. I’ll look for some new swing candidates tomorrow.
Currently holding:
Long – PLMO, RSAS, WBSN
Short – BOL
Looking for swing trade entries in:
Longs – None
Shorts – None
Potential day trades:
(From Briefing.com)
Gapping Down
Down on disappointing news/guidance: CSCO -3.6%, LGND -10.6% (also First Albany downgrade), BFLY -11.4%, AAII -9.1%, DHB -4.6% (also Roth downgrade), GMST -4.5%, DNDN -4.6%…. Other News: FLYI -20% (co says bankruptcy is possible), AVO -9.8% (to acquire EYE; Harris Nesbitt downgrade), PFE -3.5% (New study links Pfizer’s Bextra, similar to Vioxx, to heart attacks — NY Times), S -3.1% (cautious WSJ article and UBS comments), IDTI -2.4% (in sympathy with CSCO), SNIC -2.1%, CHKP -2% (UBS downgrade), WEBX -1.9% (IBM plans Web meeting service, takes aim at WebEx – Reuters).
Gapping Up
ANLT +54% (momentum from 225% move yesterday), EYE +31% (being acquired by AVO), JRJC +14% (reports Q3 results), TRIB +11% (gets FDA waiver for Uni-Gold Recombigen HIV test), RSTI +10% (reports SepQ), NVTL +5.9% (positive commentary by analysts), ORCT +5.3%, INCX +4.2% (momentum from 33% move yesterday), BOBJ +4.2% (Morgan Stanley upgrade), EGHT +3.2% (follow-through interest following FCC ruling on VoIP yesterday), GOAM +2.8% (continues recent momentum), TASR +2.2% (CEO appears on CNBC)…. Under $3: STKR +27% (to acquire optical lens maker Navitar), ARTX +18% (reports Q3), DFIB +9.1% (co and GE expand distribution agreement), WTSLA +8.9% (carryover from news of interim funding pact), PFSW +5.6%.
