Of course we can’t go the same direction two days in a row, especially during earnings season. The supposed reason for this morning’s strength is the lack of any bad economic numbers combined with some good earnings reports. Will it be enough do get us through Friday’s highs? I doubt it, but you never know…
There are a lot of stocks gapping up this morning so there’s plenty to choose from on the long side, assuming we don’t reverse mid-day.
Potential swing trades:
See one of the recent ‘Chart Reading‘ posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
CKFR -18%, TECD -13%, JCOM -5.4%, GM -1.6%, NOK -1%.
Gapping Up
Gapping Up on strong earnings/guidance: NILE +20% (also Piper upgrade), AQNT +20% (up in sympathy: TFSM +9% which reports tonight), GRMN +12% (up in sympathy: SIRF +6%), VCLK +17% (also Kaufman upgrade), TSRA +12% (co reports, but licensing deal with Infineon driving the stock higher), VPHM +8.6%, HL +7.6%, CI +6.8%, ADBE +6.6%, ASTSF +6%, CTSH +6% (up in sympathy: SIFY +7.3%, INFY +2.4%), ERTS +5.7%, MA +5%, ALVR +5.2% (also Merriman upgrade), MDRX +3.2%, TWX +2.8% (also co shifts AOL strategy with free offerings), AL +2.4%, WYNN +2.3%, PG +1.8%, SWN +1.8%, DVN +1.5%… Other News: POZN +33% (announces collaboration with AZN), F +4.3% (co launches strategic review of brands, may lead to asset sales – WSJ), XMSR +4% (deal with Google), TLAB +3.3% (bounces after recent weakness), AVCI +3.2%, USEY +2.8%, TIE +2.2%, TEVA +2.2% (announces Copaxone sales), PALM +2.8% (Cramer bullish on Mad Money; Merrill resumes coverage with $19 tgt), UNH +2.2%, LAMR +1.8% (Credit Suisse upgrade), BYD +1.6% (prices offering), CHK +1.4% (Cramer positive on Mad Money)… Momentum enrgy names moving ahead of possible Hurricane Chris: BDCO +7.2%, NGAS +4.1%, FUEL +2.5%… Medical device stocks are higher as Medicare slashes cuts to hospitals: BSX +4.6%, THOR +4.2%, BVX +3.2%, MDT +2.5%… Under $3: AVAN +9.5% (reports Q2).
Disclaimer & How I use this list
