It looks like the market’s set to open right near the lows of Friday’s choppy range. It’s tough to get excited about the short side in this market but my intraday moving averages are close to turning bearish. So I’ll be watching how QQQQ acts at nearby support like Thursday’s low.
On Today’s Calendar:
- 10:00 — Factory Orders
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: CRAY -22.6%, KKD 2.3%… Other news: TELK -13.1% (reports Telcyta ASSIST-3 trial results, says assessment of the primary endpoint may have been compromised), CTIC -8.6% (data presented at ASCO provides independent supportive data validating the potential survival benefit of Xyotax), DAL -5.8% (still checking), DNDN -3.1% (announces a $75 mln convertible notes private placement offering).
Gapping Up
Gapping up on M&A: DIGE +36.4% (to be acquired by QGEN for 61.25 per share), SLR +15.7% (to be acquired by FLEX for $3.89 per share), LEND +9.2% (to be acquired by Lone Star Funds for $15.10 per share)… ASCO related news: SCLN +14.4% (thymalfasin achieved its primary endpoint in a phase 2 clinical trial), CYCC +19.7% (reported Phase I sapacitabine data, tgt upped to $12 at Needham), ARIA +7.4% (presents positive efficacy data on AP23573), ONXX +6.1% (announced that Nexavar significantly extends overall survival by 44%)… Other news: PALM +10.0% (announces strategic recapitalization with Elevation Partners, upgraded at Bear Stearns), CDNS +8.7% (NYT reports co is in buyout talks), NVT +6.4% (Cramer highlights recent GOOG-for-NVT rumors).
Disclaimer & How I use this list
