I probably should stick to my new plan of taking Fridays off for the rest of the year but I really want to hang around to see if the falling three methods theory pans out. So I’ll see what the first 60 to 90 minutes brings.
Also, there’s an interesting interview on WallStrip with Dave Kansas of the Wall Street Journal and formerly of TheStreet.com.
On Today’s Calendar:
- 10:00 — ISM Index
- 10:00 — Construction Spending
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
OVTI -12% (reports OctQ; also downgrades from Baird and Longbow), BSQR -11% (profit taking after 22% move yesterday), RAND -8.4% (profit taking after 22% move yesterday), FNSR -7.1% (guides below consensus), SMTC -4.7% (reprots Q3 revs, guides Q4 revs below consensus), XNN -4% (profit taking after 149% move yesterday), KWD -4% (reports OctQ), TATTF -4% (profit taking after 9.4% move yesterday), AHO -2.6%, NDAQ -3.2% (Prudential downgrades to Underperform), BKHM -2.7% (in sympathy with FNSR), ISLE -2.6% (reports OctQ), NVDA -2.5% (receives subpoena from DOJ), HRB -2.1% (reports OctQ), EDS -2% (Prudential downgrade).
Gapping Up
ENPT +99% (reports SepQ), ZVUE +16% (announces acquistion of video sharing site), EXTR +7.3% (Lehman upgrade), CLE +7% (to explore strategic alternatives), SONS +5.1% (Lehman upgrade), RNIN +4.6% (extends momentum), TATTF +4.2% (extends yesterday’s 9.4% move), TWTC +4.2% (Raymond James upgrade), NEOL +3.8% (SEC terminates investigation), SIX +3.5%, CYH +3.3% (Bear Stearns upgrade), MED +3% (extends yesterday’s 12% move), NVAX +2.8%, HD +2.7% (KKR among buyout shops looking at Home Depot – NY Post), DENN +2.4% (reports Nov sales), FCX +1.3%… Under $3: MGRM +13% (Pfizer launches expanded access for Maraviroc), SCO +3.5%.
Disclaimer & How I use this list
Good call on the falling 3 method.. Did you get short??
Kevin
damn end of day buying messed up all those beautiful 3 methods patterns! x(
I was short intraday… didn’t make much given the lack of follow-through. Maybe next week.
That is why they say profits on short side are ephemeral, you must take them before they vanish. Who wants to be short at end of Friday, when the “merger Monday” risk is so high.