I was surprised to see that our selling didn’t spread to the Asian markets overnight. But Europe wasn’t so lucky as their indices are getting “spooked by interest rate and credit concerns.” It looks like we’re set to open slightly weaker. I’ll be hunting for shorts in the morning but I probably won’t enter anything until after the Philly Fed report hits at noon. I don’t feel like sticking my face (or other parts) into a buzz saw. 
On Today’s Calendar:
- 10:00 — Leading Indicators
- 12:00 — Philadelphia Fed
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: PIR -4.3%, HRB -4.4%… Other news: ESE -22.9% (Pacific Gas & Electric plans to request information from a small group of vendors to evaluate their ability to address potential future functionality requirements), IDMI -14.1% (to raise $25 mln in registered direct offering), AMLN -4.8%, CAKE -4.8% (stock downgraded at multiple firms following co’s presentation at a conference yesterday), BWLD -4.2% (downgraded to Neutral at Merriman), NRMX -3.5% (receives third recommendation from European Data Safety Monitoring Board to continue Phase III clinical trial for tramiprosate), AAI -2.8% (received the preliminary vote report from IVS Associates, the independent inspectors for the MEH Annual Meeting held on June 14, 2007, which showed ~65% of shares voted were in favor of AAI’s slate of directors), NOK -1.3% (downgraded to Neutral at tier-1 firm).
Gapping Up
Gapping up on strong earnings/guidance: WSCI +17.0%, ANDE +8.7%, AM +7.5%… M&A: OO +13.9% (to be acquired by LUX for $29.30 per share)… Other news: HOKU +12.2% (signs polysilicon supply agreement with Solar-Fabrik), ADLS +9.7% (co’s cethromycin achieves primary endpoint in Phase 3 pneumonia clinical trial), PANC +9.6% (announces “substantial” antiviral response in bevirimat 250 mg cohort), TSTC +8.7% (announces it wins bid for TD-SCDMA wireless coverage equipment from China Mobile), CPNLQ.PK +5.4% (files reorganization plan), VGR +4.9% (positive Cramer mention), BAM +3.6% (positive Cramer mention), NVDA +2.0% (upgraded to Overweight at Lehman).
Disclaimer & How I use this list
