Some quick notes on the Nasdaq chart:
Potential swing trades:
Longs – None
Shorts – None
Potential day trades:
(From Briefing.com)
Gapping Down
Gapping down on disappointing earnings/guidance: HTCH -21% (down in sympathy: KOMG -5.5%, STX -2.1%), DY -11%, FINL -10%, BLUD -10% (also CFO resigns), ATYT -8%, …. Other News: VSGN -52% (announces early close out of clinical trial), PCO -10% (related to merger with VLO), AMLN -4.2% (stock offering), BEIQ -2.4%, MNTA -2.4% (slips after announcing M-Enoxaparin filing), QLGC -2.3% (sells controller biz to Marvell, multiple downgrades), FRO -2.1%.
Gapping Up
MDR +21% (announces agreement with the asbestos claimants), LTXX +7% (Citigroup upgrade), VIAC +6.4% (expands collaboration with Amgen), NINE +6.3% (wins open bid contract; guides), BIDU +4.3% (AP reports that co is gaining ground in China on Google), IMCL +3% (files supplemental BLA for Erbitux), JOYG +2.2% (beats by $0.06; guides above consensus), VRSN +1.9% (Susquehanna upgrade), LSTR +1.9% (broker upgrade), AAPL +1%…. Energy stocks keep moving on hurricane: BR +2.7%, FDG +2.5%, CHK +2.1% (positive WSJ article)… Alternative energy/fuel cell stocks are strong: SATC +19% (receives new fuel cell electronics orders), CPST +13% (Mad Money mention), BLDP +4%, ENER +2.3% (joint venture confirms contracts for Hybrid Electric Vehicle Programs)… Under $3: NVAX +11% (extends yesterday’s 70% move).
Disclaimer & How I use this list
Hi!
Appears to me we have seen the end of the four week decline in the market.
And, we should get a week or two relief here, with a nice bounce.
I can now count completed zigzags, from the top, in the COMPX and INX, with a double zigzag in the INDU. Yesterdays lows in the COMPX futures @ 2113 was not reached with todays selling onslaught. Todays low of 2120 was tested in the afternoon successfully and we rallied a nice 10 points into the close. Stochastics are still way overold and need some upside relief. Plus, the market showed signs of life as the TECHS rallied nicely: AAPL/HPQ up 1.5 %, MOT up 3% and GLW up 4%. The next market leaders?