Yesterday was another choppy consolidation day for the indices. The one major move that I saw was the SOX finally breaking out of its recent downtrend. That should be a good sign for the tech sector.
Currently holding:
Long – URBN
Short – none
Looking for swing trade entries in:
Longs – none
Shorts – ACXM, AVB, BC, CIT, DRL, PH, SAFC
Potential day trades:
(From Briefing.com)
Gapping Down
Gapping Down on disappointing earnings/guidance: ZIXI -16% (also Rodman & Renshaw downgrade), SNIC -13% (also JMP Sec downgrade), AMKR -9.1%, MANH -7.1% (also downgrades at Bear Stearns and Jefferies), BOBE -6.7%, PLMD -4.9%, FMDAY -15%…. Other News: ISPH -41% (disappointing clinical data), SQNM -9% (CEO resigns), MCHX -7.9% (prices offering), NFI -7.1% continues 8% drop yesterday), MSTR -5.4% (cut to Sell at Deutsche), OSIP -1.9% (First Albany downgrade), MICU -1.8%.
Gapping Up
Gapping up on strong earnings/guidance: ISRG +15%, VSTA +15% (also JP Morgan upgrade), FONR +8%, INPC +5%, OTEX +4% (also UBS upgrade), GIVN +3.7%, UTSI +2.9%…. Other News: HPQ +10.5% (CEO resigns; up in sympathy: GTW +7%), EMKR +10% (Needham upgrade), VVUS +12% (positive clinical data), CHINA +6% (Pac Growth upgrade), ERICY +3.8%, RNWK +5% (co and Nokia extend collaboration), RHAT +3.8% (BofA upgrade), SKS +2.9% (co may split up, sell assets — WSJ), ARBA +2.6% (started with a Strong Buy at Garban, price tgt $13.50), AMD +2.6% (Morgan Stanley upgrade), EBAY +2.3% (Merrill upgrade).
