Greenspan testifies at 10 today. Wake me when it’s over…
Looking for swing trade entries in:
Longs – None
Shorts – None
Potential day trades:
(From Briefing.com)
Gapping Down (shorts)
PHELK -7% (prices offering), UTIW -6.2% (reports AprQ, light on revs), TERN -5%, VITX -4.6% (profit taking after 12% move yesterday), CDWC -4% (reports May sales), XMSR -2.7% (announces $300 mln stock financing), XLNX -2.6% (mid-qtr update; Baird downgrade, Moors & Cabot downgrade), FRO -2.1% (mentioned negatively by analyst on Bloomberg TV), RIMM -2.1% (provides update on NTP licensing and settlement agreement).
Gapping Up (longs)
NAV +5% (reports AprQ, makes positive comments about 2H 05), WPCS +52%
(enters into credit agreement, but move seems to be related to
Tuesday’s announcement that co was selected for New World Trade Center
project as stock did not move Tue or Wed; small float also), NIKU +25% (to be acquired by CA), ALTI +11% (completes successful Phase One testing), ISIS +9.4% (clinical data), EAT +6.5% (guides higher; Pru upgrade), CEDC +5% (positive development with Polish govt), NITE +5% (Keefe Bruyette upgrade), TKLC +5% (OpCo upgrade), TSRA +4.7% (guides higher), ADTN +3.8% (guides higher; Baird upgrade), EYET +3.5% (adopts poison pill), ELBO +3.2% (Hart-Scott-Rodino waiting period expires), TIBX +2.5% (Canadian city may use product), NCI +2.4% (bounces after 31% drop yesterday), CNMD +2.3%, SEBL +2% (Relational Tools of Spain selects OnDemand product), RRC +2% (prices offering), GOOG +1.6% (Smith Barney initiates with $360 tgt)… Momentum favorites keep running: BDCO +10%, IPII +4.4%, GEOI +3.7%, TAGS +3.2%, IIJI +2.9%…. Under $3: GEPT +13% (co’s acquisition candidate awarded $2.1 mln in new orders), MCZ +10% (reports MarQ), AGT +10%.
Intraday Updates:
- 10:26 DSTI is running hard on news
- 10:50 VCLK’s getting hit
- 11:45 TTWO and ASTSF just hit the scanner.
- 12:07 ELN and BIIB are surging on the following (via Briefing) – Elan strength attributed to report that New England Journal of Medicine story highlights way that might allow Tysabri to return to mkt
