We were set for a decent sized gap down until the weaker than expected PPI report came out at 8:30. So now the futures are right around fair value. It looks like the market will just stubbornly hang in a narrow range ahead of the Fed decision tomorrow.
Potential swing trades:
See one of the recent ‘Chart Reading‘ posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
IMCL -8.8% (loses patent ruling in court), FOXH -6.6% (ends research program with Merck), MXIM -5% (guides lower; Pru and CIBC lower price targets), OXPS -4.5% (IEDU’s deal to acquire online brokerage thinkorswim seen as negative for OXPS), SMSI -4.1% ($100 mln stock offering), CAKE -3% (JP Morgan downgrade), APTM -9.3%, GSK -2.1% (Bear Stearns downgrade), CBRL -2.2% (reports JulQ), AKAM -2.1% (Piper downgrade), MU -2% (Citigroup downgrade)… Under $3: CTIC -17% (announces stock offering after 60% run in the last month), UHCP -8.7%.
Gapping Up
NAPS +17% (hires UBS to review strategic alternatives; also BMO Capital upgrade), CHDX +4.6% (extends recent momentum, +50% in a month), SONS +4.4% (Cable & Wireless selects Sonus as the supplier of its next-generation VoIP network), ATHR +3.9% (Cramer bullish on Mad Money), OXGN +3% (CEO bought 45.5K shares at $4.02-4.15), NYNY +2.6%, WFR +2.6% (becomes current with all SEC filings; FBR upgrade), BNI +2.1% (Lehman upgrade; Citigroup initiates with $85 tgt), NVEC +1.5% (extends yesterday’s 10.5% move), BRCM +1.4% (Cramer bullish on Mad Money), JNPR +1.4% (E320 router win at Verizon confirmed – JMP; also announces customer win and reseller financing deal with IBM), RIMM +1.1% (Needham upgrade), SEPR +1%, Under $3: GNTA +5.1% (Phase 3 data).
Disclaimer & How I use this list
Big time? Now that is an exaggeration! I don’t even own a Mercedes but I do own a Lexus as does my wife. Granted, my Lexus has 168k miles and that is why we bought another this year for my wife because it’s such a great car! Some advice: don’t buy new, buy 2 years old after a lease (great deals with all the amenities I speak about). I feel that a car is one of the worst investments around!
Chris,
Actually I was referring to the fact that you’re writing at Trade2Win. You da man!
BTW, I totally agree about not buying brand new cars
Again, I will be honest – I didn’t post that article there (someone else did it without my knowledge). But I’ll look to add more articles at their site.
What do you think of FOXH (hit several of my scans) as I see it in your gappers today.