Here’s a chart of the Nasdaq:
The action of late, drifting to new(er) highs feels like a game of musical chairs to me. When I saw the big gap down Friday morning I thought the music had finally stopped. But the PPT, or somebody, stepped in again to buy like mad. Let’s see if the music keeps playing today…
On Today’s Calendar:
- Nothing
More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
Potential swing trades:
See one of the recent ‘Chart Reading‘ posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
SORL -10% (prices stock offering), JAS -4% (profit taking after +19% move last week), VRTX -3.5% (mentioned negatively in Barron’s), XING -3.1% (reports Q3 revs), SPPI -3%, ASMI -2.9% (co to stop subsidising front-end operations), VCLK -2.7% (Citigroup downgrade), JCG -2.3% (CIBC downgrade), NOK -2%, QGEN -1.4% (extends recent weakness).
Gapping Up
PNTR +46% (momentum continues, stock rose as much as 200% on Friday), SEED +26% (reports JunQ), SIMO +12% (WR Hambrect says its channel checks indicate qtr tracking above expectations), TRBN +4.8% (a number of firms initate coverage on this recent IPO), CTTY +4.7% (extends momentum, +30% in 2 days), SCT +4.5% (MassMutual and Cerberus will invest $600 mln in SCT to gain control), KRY +4.3% (extends momentum, +20% in 7 days), LMRA +3.5%, ATEA +3.3%, AUDC +3.1% (First Albany upgrade), ZVUE +2.7% (momentum name, extends recent gains), RMBS +2.2% (positive Amtech comments), HOFF +2.2% (Raymond James upgrade), LOW +2% (BofA upgrade), GFI +1.4% (files annual report), BBY +1.3% (Credit Suisse believes BBY is finishing up Q3 very strongly), AAPL +1.1% (ThinkEquity raises tgt to $110)… Under $3: WFII +13% (Army contract), MEMY +5% (completes enrollment for clinical trial).
Disclaimer & How I use this list
