Watchlist for December 29, 2004

We’re back to having new highs on the indices basically across the board. The SOX is still a notable exception as it continues to languish under its 200-day moving average. Still, this is a very tough market in which to be short.

I see it’s been a while since I’ve posted charts. That’s because the action has been pretty dull. We’re just drifting around with a slight bias to the upside. I’ll be sure to post some charts today though.

Currently holding:

Long – ADBE, CME, DVA, EYET, THQI

Short – None

Looking for swing trade entries in:

Longs – IACI, JBL, NTGR

Shorts – AGU, FOSL

Potential day trades:

(From Briefing.com)

Gapping Down

PROX -21% (lowers guidance), MSO -4.9% (Insider selling heats up for MSO – WSJ), SIRI -4% (money manager makes negative comments on CNBC).

Gapping Up

Earthquake/tsunami plays add to gains: NGRU +23%, TAYD +16.4%, SDIX +3%, ANLT +7.1%, BTHS +7%…. Other News: RMBS +6.7% (memory to be used in Playstation 3 – xbitlabs.com), ANCCD +27% (regains Nasdaq listing compliance), BIVN +14% (up on the GENZ FDA approval), IRSN +12%, DDDC +7.5% (Internet phone cos avoid regulation — NY Times), WFII +6% (gets O2 contract), NMSS +5.8% (started with a Buy at ThinkEquity; tgt $9), VIP +5.6% (Morgan Stanley believes the lower than expected amount of the initial 2002 tax claim is positive for the stock), NTOP +4.8% (expands network; also, Internet phone cos avoid regulation — NY Times), INCX +4.4% (momentum from 11.4% move yesterday), NFLX +3.7% (short interest increased to 75% — WSJ), MDCO +3.6% (successfully completes Angiomax phase III trails), CMC +2%…. Under $3: XEDA +66% (hearing chatter this is a tsunami play; connection seems like a bit of a stretch to us; trading high volume in pre-mkt), EQTX +40%, VIFL +23%, CRDM +13.4% (regains Nasdaq listing compliance), OLAB +10.5%.

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