Here’s a chart of the toppy Nasdaq:
Potential swing trades:
Longs: AMED, CSC, ERTS, ISRG, NVT
Shorts: AMMD, AMZN, ENER, JUPM, MERQE, NVLS, OSG, PFCB
Also 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: NTES -19% (also Piper downgrade), OPTV -8% (also OpCo downgrade), JRCC -5.6%… Other News: QLTI -12% (in sympathy with DNA phase 3 Lucentis data), MIVA -7% (extends yesterday’s 10% drop on earnings), MKTAY -3.6%, SUNW -2.8% (150 mln share block trade).
Gapping Up
Gapping up on strong earnings/guidance: SOLD +11%, GIVN +7.5%, VTIV +7.1%, APCS +6.1%, NVAX +5.7%, ALO +4%… Other News: NTMD +16% (Mad Money mention), DESC +9.3% (extends recent momentum), HAIN +6.3% (Mad Money mention)… Under $3: CGTK +8% (positive clinical data).
Intraday Updates:
- 09:28 I’m also watching APCS, BOOM and CMCO
- 09:40 CLHB is really getting clocked. Watching for an opportunity to go short…
- 09:44 Quite a reversal in BOOM. No shares for me to borrow though
- 10:06 QQQQs finding support at 40. I think I’ll use a break of 40 as my signal to enter some shorts
- 10:36 I just switched over to all my bullish scans once the QQQQ made a new high on the day. My “Nasdaq Gainers with Volume Surge” scan only has 4 stocks on it. Combine that with the ~ 9-to-18 A/D line and I don’t trust this little rally attempt
- 11:55 I’m struggling to find some good setups as the indices make new highs on the day. AAPL has my interest (imagine that!) as it climbs back over 60…
Disclaimer & How I use this list
Hey Mike – With this toppiness, are you a buyer of a pullback? With the transports having broken out my thoughts are to get in on a pullback.
Probably. I couldn’t say for sure until I saw what the dip looked like (volume, how far it pulls back, do trendline(s) hold, etc.)