My gap fade yesterday morning would have worked like a charm if not for me pushing my stop to break-even prematurely. l-) I’m going to have to start doing them as John Carter laid out in the book — enter the trade, set the stop and profit taking exit and leave it alone.
It should be an exciting day for Apple and the “Apple Seeds” as I like to call them. Those are companies like PLAY and SYNA. For the most part I agree with Nick’s assessment that today’s announcements will be a sell-the-news type of event. But you know me, I’ll just trade it as it comes. If they do manage to surprise the world with what they unveil it could turn out to be a buy. TIme will tell…
Here are charts of the Nasdaq and S&P 500. They still look pretty bullish to me and I like the stochastic action.
Potential swing trades:
See one of the recent ‘Chart Reading‘ posts for some potential swing candidates.
Potential day trades:
BBY -3.1% (reports AugQ; beats by $0.03, but it appears the size of the beat is being viewed as disappointing, as last qtr co topped consensus by 0.11), FORTY -5.7% (co’s principal shareholder to sell its entire stake to Emblaze Ltd.), BMRN -4.6% (announces clinical data on Phenoptin), CRXL -1.8%, ACGY -1.5% (prices convertible offering), EBAY -1% (initiated with a Sell at Soleil, $24 tgt).
ANGN +13% (extends yeterday’s 109% move on earnings report), DESC +9.5% (bounces after 9% drop yesterday), VRSN +5.2% (News Corp to purchase a majority stake in VeriSign’s Jamba unit), BOOM +4.8% (receives contract), QLTI +4.4% (extends recent momentum), NBIX +4.1% (reports Phase 2 data), NUAN +3.1%, LVLT +3% (service to be used by YouTube; also announces collaboration with Covad), AAUK +2.9%, RIMM +2.3% (Amtech raises tgt to $120), CMVT +2.3% (reports JulQ), GS +2.1% (reports AugQ), AMAT +1.5% (Credit Suisse upgrade).