Well, it’s expiration week already. That means, as usual, I’ll be taking today & Friday off. “See” you all Monday…
Oh yeah, there’s another mid-day economic report to be aware of today — the Philly Fed @ noon.
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
On weak earnings/guidance: ELOS -11.6%, ETFC -10.1%, UMPQ -8.9%, WM -7.5%, TER -6.6%, UTSI -5.6% (reports delayed Q1 results), CTXS -5.3%, EBAY -5.3%… China stocks trading lower with volatile trading in Chinese markets after Beijing regulators said they may allow arbitrage between shares traded on the mainland and Hong Kong: SNP -11.1%, CEA -10.3%, ACH -9.4%, GSH -9.3%, CHA -9.1%, PTR -7.1%, YTEC -6.9%, FXI -5.9%, CHU -6.9%, ZNH -5.37%… Other news: NKTR -14.7% (Pfizer announces decision to exit Exubera), NFI -13.9% (intends to request a review of NYSE determination that it does not meet applicable listing standards and announces exploration of alternative mkts).
Gapping Up
On strong earnings/guidance: LOGI +13.8%, IONA +6.4%, SYT +5.4%, NOK +4.7%, TXT +4.5%, WCC +3.3%, BAX +2.7%… M&A: ASPV (to be acquired by Galenica For $26/share in cash)… Other news: CSUN +3.9% (signs sales agreement with German module manufacturer aleo solar AG), REP +3.4% (upgraded to Buy at Merrill), PALM +2.6% (upgraded to Buy at Merrill), DSX +2.2% (ests raised at Wachovia), GLD +3.0% (Spot gold is trading up by more than $6).
Disclaimer & How I use this list
Mike,
Could you comment on whether you think the nasdaq is in the process of forming a “2B top”? Thanks.
Hi Mike,
Glad you are back. . I know you like Trade-Ideas for the NR7 trade. .Could you at least me a couple of specifics you put into the trade setup for the filters. . Meaning, volume at least 500,000 shares?? Do you like having a NR7-2, or even up to NR7-5 to see it really consolidate. When you trade the 30 min. timeframe, you wait until at least 10:00 a.m before you start testing the waters, right?
Thanks for the help!
Hi Kevin,
Here are the two main scans I usually use:
http://www.trade-ideas.com/View.php?O=30C0000020001802000010000150100801400000_19_0&QPUD=1&QCDHR=1&MaxSpread=10&MinFCP=1&MinPrice=5&MinRV=3&MinTV=300000&WN=Market+Watcher+Bull+Only
http://www.trade-ideas.com/View.php?O=2000000C80000200300040000200002A0200402800000_19_0&QPDD=2&QCDLS=1&MaxFCP=-0.5&MaxSpread=10&MinPrice=10&MinRV=3&MinTV=300000&WN=Market+Watch+Bear+Only
I wait until 10:30 before making any trades.
I don’t know if I’ve ever seen an NR7-5, but yeah, I’d probably like an NR7-2 better than a plain old NR7… but it depends on how the overall chart looks. I won’t trade something just because it’s an NR-whatever.
micorcap spec.,
It certainly looks possible.