We’re set to gap down about 0.5% after a few disappointing earnings reports last night and the Bear Stearns hedge fund news. That has me on the hunt for shorts. I’m hoping we can get an early bounce and then roll over right around 10:00 as Big Ben starts yapping…
On Today’s Calendar:
- 10:00 — Bernanke begins his testimony
- 10:30 — Crude 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: ITWO -17.5%, PPDI -11.3%, TQNT -7.1%, YHOO -5.2%, INTC -4.8%, DSL -3.9%, JCI -3.0%, JPM -2.0%… Subprime related weakness continues after BSC’s hedge fund news & Moody’s announcement: BSC -2.6%, NFI -13.5% (still checking for additional news), AHM -2.6%, CFC -2.2%, IMB -1.7%… Other news: NRMX -9.3% (receives approvable letter for eprodisate for treatment of A.A. amyloidosis).
Gapping Up
Gapping up on strong earnings/guidance: DAL +3.4%, ORB +3.2%, STJ +3.2%, CSX +2.4%… M&A related news: ALFA +15.8% (reports proposal to take co private at $17.60 per share), M +15.0% (WWD reports that KKR is courting Macy’s with $24 bln offer, representing $52 per share), CP +12.0% (Globe and Mail reports that Brookfield-led group is preparing a takeover offer), COMS +5.5% (WSJ’s Deal Journal reports that COMS draws buyout interest)… Other news: OMEX +5.8% (still checking for news), SWSI +5.2% (upgraded to Strong Buy at Matrix).
Disclaimer & How I use this list
