It looks like the bears may have to curb their enthusiasm after last week’s slide. The indices are set to gap up this morning. Although I don’t give a d@mn about the Dow it’s set to jump back over 12,000 (DIA is trading above 120 as I write this) and I think that will be a key level for many market participants. Here are charts of the Nasdaq and S&P which both look ready to bounce…
On Today’s Calendar:
- Nada
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
Gapping down on disappointing earnings/guidance: MFLX -14%, OSTK -11%, Other News: ADLR -37% (FDA seeks more data on bowel drug), HANS -5.6% (to investigate stock option practices), ARRS -5.1% (announces notes offering), LWSN -3.4%, SINA -2.3% (profit taking after strong move late last week), NVDA -1.7% (to acquire PLAY), EVR -1.4% (mentioned negatively in Barron’s), BEAS -1.5% (Pac Crest downgrade), HD -1.3% (UBS downgrade), Under $3: CTIC -7.8% (suspends clinical trial).
Gapping Up
Gapping up on strong earnings/guidance: PSTI +13%, HWCC +13%, XMSR +11%, LEND +2%… Other news: KOSP +54%, TRFC +32% (to be acquired by NVT), SWFT +25% (receives offer to be acquired), CRXX +21% (positive phase 2 data), PLAY +9% (to be acquired by NVDA), PGNX +7.6% (AmTech initiates with $36 target), ESLR +7.3% (On Mad Money, Cramer says he would acquire ELSR today and sell on Wed), SIGA +5.4%, ENCY +4.3% (extends Friday’s 9% move), OMNI +4%, MEDI +3.7% (positive clinical data for Numax), GERN +3.2% (announces patent license agreement), DIVX +3.1%, VRSN +2.7% (Lehman upgrade), SIRI +2.4% (in sympathy with XMSR), CHTT +1.9% (SunTrust upgrade), CSCO +1.5% (on Mad Money, Cramer says co could report a “blowout” quarter next week), AMD +1.1% (Barron’s Online article notes insider buying).
Disclaimer & How I use this list
