The bulls are still running from yesterday. Pre-market indications are for about 0.5% gains on both SPY and QQQQ. I guess they’re smelling new highs and are gonna try to make the bears run for cover.
On Today’s Calendar:
- 10:30 — Crude Inventories
Potential swing trades:
See one of the recent ‘Chart Reading‘ posts for some potential swing candidates.
Potential day trades:
On weak earnings/guidance: KMX -9.4%… Other news: PWAV -6.0% (announces $130 mln private placement offering of 20 yr convertible notes), EGLE -3.1% (announces 5 mln share public offering), BOBJ -2.7% (downgraded at West LB to Hold), NICE -2.5% (agrees to sell 4.5 mln in American Depositary Shares), SU -2.3% (downgraded at CIBC to Sector Perform), JNPR -0.7% (downgraded to Neutral at Merrill)
Gapping up on strong earnings/guidance: NTWK +42.0%, DBRN +4.0%… M&A: KWD +35.1% (announces receipt of non-binding proposal from Sun Capital Securities, to acquire co for $21/share), RNVS +27.4% (Renovis to be acquired by Evotec in a stock-for-stock transaction valued at approximately US$151.8 mln), LEND +17.8% (co and Lone Star agree to acquire $11.75 per share acquisition price)… European banks are strong following rate cuts in the US and strength overseas: DB +2.3%, CS +1.0%, UBS +1.6%… Other news: INTX +11.3% (upgraded to Strong Buy at JMP Securities), TS +3.4% (trading higher on speculation of bid by ArcelorMittal).