Obviously yesterday was a bad day for the bulls. There was a lot of technical damage done as you’ll see in the charts below. The Banking Index looks especially bad.
Currently holding:
Long – PARL
Short – ASKJ
Looking for swing trade entries in:
Longs – ACE, AIG, BKS, COO, MACR
Shorts – AL
Potential day trades:
(From Briefing.com)
Gapping Down
Gapping down on disappointing earnings/guidance: APSG -26%, POSS -10.5% (also cut to Sell at Stanford Group), NANO -5.7%, NOVL -4.6%, COGT -3.6% (also downgraded to Hold at Needham), LAMR -2.4%… Other News: MHS -5.4% (to buy Accredo Health), MAMA -5.9% (three shareholder suits filed against the company).
Gapping Up
ACDO +35% (to be bought by MHS), PFGC +10% (to sell Fresh Express unit to Chiquita Brands), USFC +8.1% (Yellow Roadway in talks to buy USF — WSJ), ENMD +6.4% (announces presentation of preclinical research results), SMSI +5.8% (announces deal with Alltell), TZOO +4.3%, GERN +3.9% (plans to treat people who have spinal cord injuries – NY Times), OVTI +3.5% (significantly undervalued, reit Overweight – JP Morgan), ASML +3.2% (licenses technology patents to Intel)…. Gapping up on strong earnings/guidance: ADSK +2.3%, LCAV +7.6%, CIEN +5.1% (up in sympathy: ALA +3.4%, JDSU +3.2%), MTLG +4.9%, GT +4.5%, NTES +3.4%, TOL +3%.
