We’ve got a nice list of gappers this morning (how about that AMZN?), so hopefully this day won’t turn out to be another chopfest. It looks like the Dow is going to hit 13,000 early in the day and that may cause a burst of activity — new bears, existing/old bears’ stops getting hit, etc. There are a few economic reports being released during the session, including the Beige Book at 2, so it shouldn’t be another dull day. Big Ben is speaking at 10:00 too…
On Today’s Calendar:
- 10:00 — New Home Sales
- 10:30 — Crude Inventories
- 2:00 — Fed’s Beige Book
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 weak earnings/guidance: TZOO -18.7%, EXBD -16.9%, GGG -8.9%, HTCH -8.6% (also downgraded to Underweight at JP Morgan), SSTI -7.8% (also downgraded to Sell at WR Hambrecht), DYAX -7.3%, SUNW -6.4%, WU -6.2%, ANAD -6.0%, CKFR -5.9%, WBSN -5.3% (also downgraded to Neutral at Credit Suisse), PDS -5.2%, SANM -5.0% (also downgraded to Sector Perform at CIBC), CYMI -5.0% (also multiple downgrades), WLP -4.7%, RFMD -4.6%, CLZR -4.6%, EEFT -4.4% (also downgraded to Mkt Perform at Piper), EZPW -4.2% (also upgraded to Buy at Roth), ISE -4.1%… Other news: ONT -8.5% (files $60 mln mixed shelf), VNLS -8.0% (to delist from the Nasdaq and to deregister and terminate its US reporting obligations).
Gapping Up
Gapping up on strong earnings/guidance: AMZN +16.3% (also multiple upgrades), WVCM +12.0%, RVBD +11.4% (also multiple upgrades), ZRAN +11.1%, CHRW +8.5% (also upgraded to Buy at Merrill), ORLY +8.1% (also upgraded to Strong Buy at Raymond James), EFII +6.5%, BTJ +6.2%, ILMN +6.0%, LIFC +5.3%, DXPE +5.3%, CAKE +4.5% (also upgraded to Buy at Keybanc), GLW +4.7%, SLAB +4.5%… News-driven rally in small-cap/cancer biotechs continues: BDSI +66.0% (announces positive Phase III clinical trial results for Bema Fentanyl), XNPT +24.4% (reports positive top-line Phase 3 trial results of XP13512 in Restless Legs Syndrome), CVTX +12.2% (upgraded to Buy at First Albany), EPCT +6.9%, GNVC +4.7%… M&A: KTO +20.0% (Jarden confirms agreement to acquire KTO), TFSM +19.8% (WPP among suitors for TFSM – NY Post), ABN +5.0% (RBS-led group makes offer for ABN worth more than $100 bln – WSJ)… Other news: DAR +5.8% (initiated with a Buy at Morgan Joseph), JASO +4.9% (initiated with an Outperform at Raymond James), MAMA +4.7% (licenses copernic desktop search to UOL), AATI +4.2% (upgraded to Buy at Jefferies), CHINA +2.2% (initiated with a Positive at Susquehanna).
Disclaimer & How I use this list
Whoa…13k wasn’t much of a speed bump. I think that bear meat is looking a little burnt. Someone might want to pull the bears away from the fire for a while. Let them cool off by the sub-prime collapse.
/~Mouse ~o)
I got caught looking the wrong way at AMZN. Oh well, life lesson. My pride was hurt more than my wallet. I’m confused as to how it’s getting away with the P/E (125+) given it’s market cap and TGT’s bad news about retail, but apparently my spidey-sense wasn’t tingling hard enough on it. It still seems like a short to me but I might just be too early… or just plain wrong given their numbers.