There’s no shortage of movers today. I wanted to short PortalPlayer (Nasdaq: PLAY) on their disastrous iPod news, but there were no shares to borrow. (At least a portion of) The market seems to think that Sigmatel, Inc. (SGTL) has won the Apple contract but Jeffries thinks otherwise. Regardless of who’s right about SGTL, I’m keeping a close eye on it.
I’m keeping in mind that tomorrow is expiration and we may start to see some pinning. Normally I’d take today and tomorrow off but I’m gonna hang around and see how the news movers are acting.
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: MEDI -8.1%, EBAY -6.6% (also RBC downgrade), JNPR -6.4% (also OpCo downgrade), ENDP -5.7%, TSN -5.1%, SPWR -4.6%, NUE -2.9%, SAP -2.3%, RMBS -2.2%, QCOM -1%… Other News: PLAY -44% (chip will not be used in next iPod; also Stanford downgrade), AMLN -5.3% (announces Byetta sales), BDCO -7.6% (profit taking after recent run), NICH -4.3% (profit taking after 8% move yesterday), TFSM -3.4% (OpCo downgrade), LSI -2.5%, RTP -2.1% (profit taking after recent run), PEIX -2.1% (Cramer bearish on name), NYX -1.9% (may hire Goldman to advise on possible bid for LSE — Times of London), AMAT -1.8% (Intel cap-ex guidance), ERICY -1.5% (likely on NOK strength).
Gapping Up
Gapping up on strong earnings/guidance: AVCI +60%, SWFT +27% (also BB&T upgrade), ADS +8% (also Raymond James upgrade), ELNK +8%, CTXS +7.8% (also UBS upgrade), STLD +6.8%, AKZOY +6.4%, INTU +6.2% (guidance only), AAPL +5.6%, NOK +5.3% (up in sympathy: RFMD +3.1%), FSL +4.5%, ARW +4.3%, IGT +3.7%, GM +3.6% (up in sympathy: F +1.3%), CHIC +3.3%, SIFY +2.9%, EMC +2.7%, SGP +2.6%, V +2%, INTC +1.4%, LOGI +1.4%, MRK +1.2%… Other News: DVAX +12.4% (announces $50 mln in private equity funding; also JMP Sec upgrade), SGTL +11.4% (PLAY iPod loss seen as positive for SGTL, BRCM +2%), DSCO +5% (secures $50 mln in equity financing), TRIS +5% (wins Defense Dept contract), BGO +4.2% (momentum), GW +3.2% (Mad Money mention), FRO +3%, SUNW +2.8% (McNealy may give up C.E.O. post — WSJ), BLDP +2.6% (extends recent big move, +40% in April), SONS +2.5% (Brean Murray initiates with $6.50 tgt)… Under $3: AXYX +11% (clinical data on Alzheimer drug), GV +9.3%.
Disclaimer & How I use this list
