The futures are down a little this morning so I guess we’ll find out if Friday’s low volume rally was for real. If we head higher during the day I’m expecting a struggle at the early July highs on the S&P 500.
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: SCT -38% (warns of a loss, suspends dividend, CEO resigns, to explore strategic alternatives), AG -9.7%, ABN -3.2%, MTU -3.2%, UAUA -1.9%, ENMC -1.8%, GVHR -1.7%… Other News: ITRI -6.6% (to offer convertible notes), SRZ -5.1% (to restate earnings), AVCI -4.2% (profit taking after recent move higher), CEPH -2.8% (hearing related to state’s decision to reject BMY’s Plavix settlement agreement), PALM -1.9%, RTP -1.8% (mentioned as a potential bidder of PD – Globe and Mail), AAUK -1.5%, BHP -1.4%, AMZN -1.2%, REP -1.1% (invests in expanding capacity in Portugal).
Gapping Up
Gapping up on strong earnings/guidance: NGA +6.7%, EMAG +5.6%, ASMI +5.5%, CTCM +4.1%, HUM +3.8%, UAUA +1.3%… Other news: FLSH +11% (to be acquired by SNDK; up in sympathy: SIMO +7%), POZN +15% (to submit response to FDA approvable letter for Trexima in Q4), PD +5.5% (Grupo Mexico considering a bid for the co – Globe and Mail; also Pru upgrade), COH +4.8% (mentioned positively in Barron’s), RMBS +4.4% (BWS Financial upgrade), CPO +3.3% (corn prices rise as heat wave threatens crops), EP +3.2% (mentioned positively in Barron’s), HSOA +2.7%, LBIX +2.7% (extends recent momentum), AAPL +2.2% (BofA upgrade), PWAV +2.1% (reports tonight after the close), CHK +2.1%, WMT +1.8% (July sales guidance), PFE +1.7% (names new CEO), SIRI +1.5% (announces that its service will be offered on Mitsubishi cars), SNY +1.4% (states reject Plavix deal)… Under $3: CYTR +22% (completes Phase 1 HIV trial), VLTS +11%.
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