The markets set to gap up this morning and it looks like it will wip e out all of yesterday’s post-Fed selling. I’m not sure how much of this is due to Cisco’s numbers (Cisco???) or just the usual “it takes a day or two to figure out what the Fed decision really means” gyrations. Whatever the reason, it looks like the S&P will test 1280 once again today.
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: MFLX -18% (also First Albany downgrade), ALLI -15% (Thomas Weisel downgrade), HSP -14%, ASEI -13%, JUPM -10.6% (also Stifel downgrade), LEND -10%, ICOP -7.8%, OSUR -7.4% (also Needham downgrade), QSFT -6.2%, HAWK -5.7%, STX -4.8%, JRCC -4.7%, DYN -3.2%, EFD -2.4%… Other News: AMSG -13% (possible Medicare reimbursement cutbacks), WRNC -12% (to restate earnings; also Piper and Pru downgrades), ONNN -3.9% (announces sale of shares by Texas Pacific), AMKR -3.8% (delays 10-Q filing), TOL -3.7% (provides JulQ housing data), DISH -3.1% (Bernstein downgrade), ALXN -1.2%, CFC -1.5% (announces July data).
Gapping Up
Gapping up on strong earnings/guidance: CSCO +12% (also JMP Sec upgrade; up in sympathy: PMCS +7%, BRCM +4%, ALTR +3.8%, XLNX +3.6%, JNPR +3.1%, ALA +2.8%), FWLT +7.8%, WNR +5.4%, CBI +5%, FD +4.2%, DIS +4%, HB +3.6%, HGSI +3%, IIJI +2.9%… Other News: SAX +29% (to be acquired by MS, also reports Q2), NYER +12% (pre-reports FY06 revs), XING +6.5%, PDLI +5.5%, ISIL +4.9%, OPWV +3.8% (CIBC upgrade), VCLK +3.7% (Mad Money mention), ORCT +3.7%, ELOS +3.6%, FRO +3.3%, IACI +2.9% (Mad Money mention), NOK +2.8% (asks court to enforce QCOM license obligations), TIE +2.6%, NVDA +2.3%, RMBS +2%, HANS +2.6% (recovers after recent sell-off)… Under $3: ZOMX +41% (to be acquired), GMST +6% (reports Q2), DENN +3.8%, LU +3.4% (signs reseller agreement with TCS).
Disclaimer & How I use this list
