It’s Wednesday so we’ve got another oil inventories report at 10:30. Given the bearish candlesticks on the indices I’d rather be looking for shorts at this juncture but as always I’ll just follow what the market tells me during the session.
Since it’s expiration week I’m going to do my usual disappearing act on Thursday & Friday so there won’t be any more watchlists for the rest of the week.
Potential swing trades:
See one of the recent ‘Chart Reading‘ posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
Gapping down on disappointing earnings/guidance: BCSI -17% (also Morgan Keegan downgrade), GMTN -1.6%… Other News: UTSI -10% (OpCo note seems to say contract not as lucrative as thought; profit taking after yesterday’s 23% move), OVRL -6% (ADIC withdraws offer), CPST -4.4% (Herb Greenberg and Dow Jones came out negative on the stock), CME -2.4% (BofA downgrade), BOT -1.5%, ASML -2.2%, TKS -2%, UCBI -1.9% (prices offering), AMD -1.4% (BofA lowers tgt to $21), RTP -1.3%, GSK -1.2%, XTEX -1.1% (prices offering)… Under $3: TAGS -11% (profit taking after recent run), CPN -3.4%.
Gapping Up
Gapping up on strong earnings/guidance: CNTF +17%, TTIL +8.4%, TOO +5.2%, ANF +4%, DHI +3.2%…. Bird flu stocks are strong on human case in China: GNBT +12%, NVAX +7%, BCRX +5.8%, AVII +4.3%, HEB +3.6%, AVAN +2.5%… Other News: GILD +5.8% (co and Roche end Tamiflu dispute), KWK +11% (UBS upgrade), GTOP +8% (RBC upgrade), CCK +3.8% (Mad Money mention), PMCS +3.6% (Merrill Lynch upgrade), LLTC +2.9%, PLAY +2.4% (bounces after 3.5% drop yesterday), ATEA +2.4% (extends yesterday’s 40% move), ARBA +2.3% (JMP Securities initiates with $11 tgt), AMLN +2.3% (Byetta shown to reduce blood sugar levels), ENI +1.5% (Mad Money mention), BBY +1.1%, AAPL +1%… Gold stocks are strong: RGLD +3%, CDE +2.6%, NEM +2.2%, KGC +2.2%, GFI +2.2% (Harmony Gold denies a report that it was selling its remaining 5.4% stake in GFI – Reuters), GLD +1.5%.
Intraday Updates:
- 09:46 I wonder if PLAY is gonna join in on this AAPL strength. It’s testing tis 200 DMA for the second day in a row
- 09:54 The ICE IPO is open and it’s up about 50% from the offering price
- 10:03 make that 68% for ICE. Wall Street really loves when these exchanges go public
- 10:28 And just like that ICE is back to the lows of the day
Disclaimer & How I use this list
