I’ve got one eye on a lot of the recent high fliers for potential shorts if things get ugly today. I’m talking about ISRG, HANS, NDAQ, CMED, AAPL, etc.
Oh, don’t forget the oil inventory report at 10:30 today. It may have a bit more impact this week given the recent run in crude oil.
Finally, I saw this chart and commentary in Breifing.com’s Swing Trader column (sub required):
A bigger picture look at the Weekly SPY shows despite notching fresh daily highs, we’re sitting at an upper resistance channel with a negative sloping MACD. With “everyone” looking for a move higher into year-end, the contrarian in me is looking to fade its strength.
Couple that chart of the Nasdaq with an overbought/oversold indicator like T2108 and you have a very good case for stocks dropping.
Potential swing trades:
See one of the recent ‘Chart Reading‘ posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
CHRD -10% (to restate results), DNDN -11% (prices offering at $4.50/sh), PWEI -8% (completes private placement), MYS -8% (share offering), SPEX -7% (profit taking after 195% move yesterday), DSX -5.5% (prices offering), PLAB -4.4% (reports OctQ), FDRY -3.5% (Baird downgrade), BC -3.5% (C.E.O. leaves to join 3M), TSY -3.3% (prices offering), WLP -2.9% (guides for Y06), SGTL -2.6% (TWP downgrade), AHL -2.4% (stock offering), BEAV -2.4% (prices offering), SONS -1.7%, AEOS -1.5% (CSFB downgrade).
Gapping Up
MCHX +13% (Mad Money mention), NUAN +13% (reports SepQ; Needham upgrade), HURC +17% (reports OctQ), VOCLD +8% (extends yesterday’s 9% move), ESLR +7% (Mad Money mention), RIGL +5.8% (says drug shows promise), CMVT +5.4% (reports OctQ), SSP +4% (to be added to S&P 500), SIFY +3% (extends momentum, up 60% in 5 weeks), BRCD +2.6% (boutique firm upgrade), ATVI +2.5% (Mad Money mention), VOD +2.4%, BOOM +2.3% (momentum), LAMR +1.9% (Mad Money mention), PNRA +1.9% (raises guidance), CSCO +1.6% (JP Morgan upgrade)… Nat gas stocks are strong: NGAS +3.2%, SWN +2.5%, CHK +1.4%… Under $3: CTCH +19% (chosen by China’s #1 antivirus vendor), SVVS +20% (contract with Pfizer Health), BCON +8%, AFT +7%.
Intraday Updates:
- 09:40 Things are looking pretty weak so far today. I’m watching GOOG as it heads for 400. I may short it if it breaks and then bounces and rolls over again
- 09:42 Ditto for YHOO at 40
- 09:45 It’s so tempting to jump into some shorts right now but I have to wait until after the oil report at 10:30
- 09:47 Watching BZH for a short
- 10:20 Here comes the test of 400 for GOOG
- 10:31 Stocks are reversing off the oil report. I’m not convinced yet but I may start hunting for longs in a few minutes
Disclaimer & How I use this list
what about the $PCRCO showing that there is alot of buying activity?
I’ve never heard of that indicator. All I know is the A/D line is negative, the indices are in the red and my intraday moving averages are bearish. I’m looking for shorts until that changes
oh (duh!) that’s the put/call ratio.
Still, I don’t use it.