Here’s what’s on my mind this morning:
- I’m thinking of doing a gap fade on this opening pop. Feels like there’s not much behind this move.
- I want to see how Nvidia (NVDA) does on the back of the AMD/ATI (ATYT) merger. It’s already reversed from down to up in the pre-market.
- BIDU is showing strength again. Keeping a close eye on it.
- I want to see if AAPL can follow-through on its earnings pop from last week.
- The downgrades in X and STLD (Steel plays) seems a little late but I’m watching them anyway for possible shorts.
- TIE is already reversing off of its pre-market earnings pop
Potential swing trades:
See one of the recent ‘Chart Reading‘ posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
AMD -3.7% (to acquire ATYT), BCGI -13% (profit taking after 109% move on Friday on settlement of lawsuit), COT -10% (light volume 2,000 shares), BDCO -4.4% (light volume 1,200 shares), SAPE -3.7% (negative comments from Goldman), HAL -1.8% (extends last week’s slide after announcing delay of KBR IPO; also Merrill, Calyon downgrades), BOBJ -1.4% (extends recent weakness), NVS -1% (cancer drug carries heart risk – WSJ), X -1% (Bear Stearns downgrade), Mining/gold stocks are weak on possible MidEast cease-fire: NXG -2.7%, GLD -1.6%, GG -1.5%, BGO -1.4%.
Gapping Up
Gapping up on strong earnings/guidance: PETS +9.3%, SLAB +8.5%, UAUA +6% (guidance only), SGP +5.1%, MRK +2%, TIE +1.9%… Other News: CRME +34% (announces positive Phase 2 clinical data), NG +30% (ABX to make $14.50 bid to acquire NG), ATYT +18% (to be acquired by AMD; up in sympathy: NVDA +6.1%), NSIT +9% (bounces after 11% drop on Friday), LBIX +6.3%, ERS +5.6%, IOTN +5.1% (signs R&D agreement with Army), NCOG +5% (to be acquired), HCA +4.2% (to merge with private equity consortium), BIDU +4.1% (HPQ computers to pre-load Baidu search service), XMSR +4% (hires new C.O.O.), ELN +3.8% (co announces that Tysabri had returned to the US and European mkts), AZN +3.2% (gets FDA approval for its inhaler – WSJ), DELL +3% (Citigroup upgrade), MOT +2.5% (accelerates stock buyback), CHRT +2.2% (Citigroup upgrade), CSR +2.2% (JP Morgan upgrade), AAUK +2.1%, BP +2%, NOK +1.5% (N73 begins shipping), RMBS +1.3% (recovers a bit after 32% decline last week), CAT +1.3% (to build plant in China), YHOO +1%… Under $3: RDCM +11% (reports Q2).
Disclaimer & How I use this list
