The indices are gapping up on a better than expected jobs report but my scans didn’t turn up much on the long side. I’ll be eyeing the recent resistance levels, especially the 50-day moving average on the Nasdaq which is at 2,084.
Currently holding:
Long – ADBE, NVT, PARL, USU
Short – RSAS
Looking for swing trade entries in:
Longs – NEM, NVDA, PAAS, STLD
Shorts – AMZN, GVHR, JTX, PLMO, STT
Potential day trades:
(From Briefing.com)
Gapping Down
BIIB -2.5% and ELN -16% are weak as second PML case is confirmed; Other News: FLML -7.4% (announces termination of licensing agreement for Genvir and recovery of rights), ISSX -3.7% (auditor notifies mgmt of material weakness in co’s internal control over financial reporting), DPH -3.5% (CFO resigns), ESLR -2.1% (profit taking after recent strong move)…. Gapping down on disappointing earnings/guidance: TACT -27%, SONS -19% (also multiple downgrades), CMOS -4.6%, WRNC -3.9%, BRLC -9%.
Gapping Up
Gapping Up on strong earnings/guidance: CRDN +6.6%, PFSW +13%, TTWO +3.3% (also Monarch upgrade)…. Other News: CLSR +17% (to be acquired by JNJ), CYTO +7.8% (bounces from 52% Drop yesterday on Combidex decision), GEOI +4.8%, NAVR +3.9% (started with an Outperform at Piper Jaffray; tgt $11), TASR +3%, INCX +2.4% (bleeding slows after 40% drop this week)…. Stem cell stocks are strong: GERN +7.7% (clinical data), ASTM +4.3%, STEM +2.9% (Q4 report)…. Under $3: ALTH +5% (RBC upgrade).
Mike your not turning up many longs in your screens because these flaming econ #’s are a mixed bag at best. What I had on my personal list today for longs are mostly down…my short list are mainly up. Even w/the cooked #’s I see more potential for 2 things which personally worry me…the DribbleMaster (Mr.Magoo) pulling off a 50 basis pt interest rise in one month soon and not the common worry of another recession but something far more sinister “stagflation”. Right now I’m enjoying the sidelines as a preference to a case of whiplash…I found out when there’s whiplash in the markets its not like a car accident where u have someone to sue…Good Trading to All!
Here for some basic charts from Briefing.com…Warning is u look at these and are losing your hair careful as you may look at today’s indices and wind up scratching your head and increase your hair loss… http://www.briefing.com/Silver/Calendars/EconomicReleases/employ.htm