The market’s gapping up this morning apparently off of earnings news. Let’s see if the gap can hold. I mentioned some 200-day moving averages as targets/potential support yesterday but I didn’t mention the QQQQ/NDX. That index actually touched its 200-day moving average yesterday so traders may be keying off of that today as well.
Currently holding:
Long – None
Short – None
Looking for swing trade entries in:
(no swing trades for me until after earnings season)
Longs – None
Shorts – None
Potential day trades:
(From Briefing.com)
Gapping Down
Down on disappointing earnings/guidance: SIMG -14% (also CEO resigns), CTV -11% (also Merrill downgrade), FILE -9.8% (also FBR downgrade), TMWD -6.6%, KCI -6.7%, IMN -6.5%, TLAB -3.3%, EMC -3%…. Other News: PLMO -6.6% (CEO resigns), BRCD -4.9% (CEO resigns, restates results; Piper downgrade), CRXL -4% (continues 6.4% drop yesterday).
Gapping Up
Higher on strong earnings/guidance: SLAB +19% (also upgrades from Piper, Legg Mason and CE Unterberg), CRDN +13%, NFLX +12% (also Avondale upgrade), AAI +6.8%, ADTN +6.3%, COH +2.6%, X +2.3%…. Other News: BEV +31% (receives buyout offer), YHOO +2% (Smith Barney upgrade), BOBJ +4.7% (UBS Europe upgrade), OPWV +4.6% (Thomas Weisel upgrade), AUDC +3.5%, CREAF +3.4%, RIMM +3.3% (UBS upgrade), COCO +2.9% (continues 10% move yesterday), SAP +2.6%, JNPR +2.2% (FBR upgrade)…. Stem cell stocks are strong as ASTM responds to contamination article: ASTM +9%, STEM +4.3%, VIAC +4.2%…. Under $3: CRIO +36% (IBM to buy the company), PACW +9.6%.
