There are a couple of economic reports hitting at 10 AM — consumer confidence and the Richmond Fed report. That fed report could be a big one given the hard reversal we got last week from the Philly Fed. The action could be intense with the bears trying to defend new highs on the S&P. So stay on your toes or, as a wise man once said, “Keep your mind on your money and your money on your mind…”
Potential swing trades:
See one of the recent ‘Chart Reading‘ posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
MERX -21% (provides guidance for AugQ; to delay filing results; Bear Stearns downgrade), AVID -13% (disappointing guidance), EYE -9.4% (guides lower; multiple downgrades), PMCS -7.3% (lowers rev guidance), ARNA -6.1% (Merck to end work on atherosclerosis treatment), POOL -5.4%, ALOG -4.5% (reports JulQ results), IMOS -4.1% (announces convertible offering), ANDW -2.7% (to be removed from S&P 500), JCP -2.6% (Credit Suisse downgrade), SPPI -2.4%, HET -2.2% (JP Morgan downgrade), CHINA -2.1% (negative ChinaTechNews article), ACN -1.9% (RBC downgrade), JWN -1.5% (Credit Suisse downgrade), CROX -1.4% (profit taking following rally into TWP conference), KSS -1.1% (Credit Suisse downgrade)…
Under $3: INVX -12% (guides lower).Gapping Up
ACOR +20% (extends yesterday’s 283% move on positive clinical results; also BofA raises tgt to $12 from $5), FNET +10.3% (WR Hambrecht reits Buy and $30 tgt following yesterday’s 14% drop), KFX +8% (announces shipment release to industrial customers), CRXL +6.7% (co launches Phase I trial for its Ebola vaccine), ANGO +7% (beats by $0.02; reaffirms FY07 guidance), CECO +5.2% (CEO resigns; UBS upgrade), HLTH +4.7% (to sell stake in business unit), FORM +4.1% (Goldman adds to Conviction List), WPPGY +2.7%, RMBS +2.3% (extends yesterday’s 8.3% move), EBAY +3.4% (Goldman raises its rev estimate for eBay), RHAT +2%, AAPL +1% ( iPhone to be Cingular-exclusive at launch – Think Secret)… Under $3: SIGA +89% (co that SIGA is merging with announces Army contract to work on the chemical nerve agent Protexia), EPCT +29% (MYGN reports positive clinical results for EPCT’s Azixa which triggers a milestone payment to EpiCept).
Disclaimer & How I use this list
Do you know of any sites that aggregate federal economic reports and their schedules? I’m starting to see their importance and I’d rather know about them before hand. Thanks for the heads up.
Lots of sites do this. Wall Street Journal, for example. If you want it free, check out Yahoo!Finance for example: http://biz.yahoo.com/c/e.html
Barrons has a good page for economic reports/calendar:
-> http://online.barrons.com/public/page/barrons_econoday.html
~o)