Yesterday’s action created even more hammers (and hammer-like patterns) so I’ve got an even longer list of potential longs for today. I’m expect that a good number of them will trigger, given the positive futures this morning. Let the games begin…
Potential swing trades:
Longs: AKAM, AMD, AMLN, AMT, ARA, CHRW, CIB, CMI, CTSH, FAST, FFIV, GGB, GILD, JOYG, MW, NIHD, NTAP, NTES, NVDA, SBAC, SIRF, TELK, TIE, TRN
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: WIND -17% (also CIBC downgrade), CMTL -9.3% (weak guidance), RHEO -9%, IDCC -5.1%, URBN -3.8%, MVCO -3.6%… Other News: MOVI -12% (extends yesterday’s 21% drop), NABI -8.9%, VRTX -7.6% (clinical data), DYAX -7.1% (stock offering), TMTA -4.2%, OVEN -4.1%, AIRN -3% (announces major expansion of Japan’s first WiMAX network), NAT -2.3% (prices offering), AAUK -2% (extends recent weakness), CELG -1.9% (Barlogie study published in NEJM), BG -1.4% (Harris Nesbitt downgrade), EEFT -1.3% (Morgan Keegan downgrade).
Gapping Up
Gapping up on earnings/guidance: SFCC +19%, IMAX +15.2% (also says it’s looking at strategic alternatives), SMDI +13% (guides higher only), CWTR +8.6% (also multiple firms raise tgts), HANS +7.8%, CMTL +4.4%, NHWK +3.6%, INTU +3.4% (guides higher only)… Other News: SHRP +16% (Knightspoint discloses 12.8% stake; proposes turnaround plan and new board members), INTX +14% (Mad Money mention), VSGN +6.7% (momentum), PGIC +6% (receives regulatory approval in California), STEM +4.5% (to begin Phase I trial), SUNW +3.2% (Lehman upgrade), ENTU +3.2% (initiated with a Buy and $5 tgt at Roth), NYX +3% (extends yesterday’s momentum), GM +2.8% (Delphi, GM near cost-cutting pact with UAW – WSJ), RAD +2.8% (Feb sales), LLTC +2.8%, DYN +2.7% (Calyon upgrade), AZN +2.6% (fresh talk of bid approach from Novartis – Reuters), SNDK +2.5% (bounces after yesterday’s weakness), ESLR +2.5%, SIRI +2.1% (Deutsche upgrade), DCX +1.6% (in sympathy with GM)… Bird flu stocks are higher on UN concerns it could reach US in 6 months: HEB +7%, AVII +2.5%… Under $3: CTCH +10% (momentum), PFSW +9% (bounces after recent weakness), CTIC +7.4% (reports Q4), AVNX +4% (momentum).
Disclaimer & How I use this list
