The futures surged on the knee-jerk reaction to this morning’s PPI and Retail Sales data but have since given back those gains. So we’re pretty much back to the pre-data levels which still indicates a small gap up. I think that surge was due to people thinking (hoping?) that the Fed will cut rates based on the PPI. I think that’s wishful thinking, especially since we just had a meeting the other day and there’s a lot of data due out before the next one. But what do I know?
On Today’s Calendar:
- 10:00 — Business Inventories
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: MAMA -15.5%, BRLC -13.6%, BSQR 12.0%, MOVI -11.2%, FL -10.4%, PRXI -9.3%, MED -8.7%, DNDN -7.8%, THQI -4.7%, GRS -4.5%… Other news: AMGN -3.9% (continued weakness with multiple broker downgrades following yesterday’s ODAC panel recommendations), JAV -1.8% (prices 7.1 mln share offering at $6/share).
Gapping Up
Gapping up on strong earnings/guidance: SYNM +17.9%, UEPS +9.1%, PRTS (also upgraded at RBC), VOLV +6.5%, NVDA +5.7% (also upgraded at Needham), ALU +3.0% (also upgraded at Credit Suisse)… CME raises their bid for BOT: CME +6.8%, BOT +1.9%, ICE +0.8%… Other news: KBH +5.2% (received a bid for its French subsidiary Kaufman & Broad), ALTI +4.4% (upgraded to Buy at First Albany).
Disclaimer & How I use this list
