I’m still on new high/double-top watch for the Nasdaq. I can’t complain about the price action but as you know I’m alwasy suspect of a lack of volume at or near an old high. That never seems to matter until it all of a sudden does so I’ll try not to focus on it right now…
On Today’s Calendar:
- 9:45 — Chicago PMI
- 10:00 — Construction Spending
- 10:00 — Mich Sentiment-Rev.
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
On weak earnings/guidance: BBND -32.8% (also downgraded at Jefferies and Merrill following earnings), JBL -2.5%… Seeing profit taking in some China related names following recent momentum: ATS -9.8%, CBAK -7%, KONG -5%, CEA -3.2%, SNDA -1.9%… Other news: ACTS -7.4% (still checking), EPG -7.9% (prices offering of 5.4 mln shares of common stock), WYNN -4.6% (prices 3.75 mln share offering).
Gapping Up
Gapping up on strong earnings/guidance: SSTR +32.7%, HAR +2.0% (trading higher after last night’s conference call; stock was upgraded at Bear Stearns and Pac Growth this morning), FMCN +1.0%… M&A: COMS +32.6% (WSJ reports COMS will be acquired by Bain Capital and Huawei Technologies for more than $5 per share; other comms equipment names EXTR, TLAB, SONS are ticking higher in sympathy)… Select China names seeing continued momentum: CNTF +14.8%, KONG +7.3%, LTON +6.2%, JRJC +4.7% (higher in pre-mkt after giving up ~$8 from yesterday’s highs following an afternoon downgrade), HRAY +4.0%… Other news: OXGN +10.6% (co presented at UBS conference yesterday afternoon; still checking for any news today), CKXE +8.3% (agrees to revised Offer from 19X which results in increased value for CKX shareholders), BIDZ +7.2% (initiated with a Buy at Roth; tgt $18), FTEK +6.4% (initiated with an Outperform at JMP; tgt $30), LNUX +5.7% (initiated with a Buy at Merriman), ALU +5.1% (seeks to accelerate integration plans – WSJ), ALVR +3.4% (last night after the close Unstrung reported that CSCO is close to buying a WiMax base-station co, with ALVR being one of the potential tgts).
Disclaimer & How I use this list
I agree. I’ve been keeping a close eye on the spiders and q’s as well.
Only time will tell how things start to unfold.