I saw lots of smiles & high fives on CNBC after this morning’s jobs report. The futures are looking good (if you’re a bull) but I’ll save my cheers for the close. I want to see if the S&P 500 can actually close above its all-time high… doing so on strong volume might even get me to stand up & cheer. Let’s see what happens…
On Today’s Calendar:
- nada
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: LWSN -5%, TLAB -4.8%, NBR -3.4%… Other news: SMA -9.8% (discloses accounting issues at Sheffield, UK operating unit and possible restatement), ARAY -6.3% (CIBC made cautious comments following co’s analyst day), CLWR -5.6% (downgraded to Peer Perform at Bear Stearns), KONG -4.7% (downgraded to Negative at Susquehanna), LEAP -3% (downgraded to Hold at Soleil), ALU -2.1% (in danger of losing AT&T role – Financial Times).
Gapping Up
Consistent with this week’s trend, several China stocks aare set to gap higher again this morning, with strength in Hang Seng overnight (+3.2%) and a Chinese IPO coming to market today: ORS +16.2%, KUN +11.1%, ATS +10.2%, RCH +10.2%, ENTU +9.4%, GSI +8.9%, CLWT +8.1%, CHNR +6.2%, EFUT +8.3%… Other news: BHIP +29.0% (co issued press release last night announcing the successful completion of a Beijing conference hosted by its Chinese subsidiary — for further color see yesterday’s 10:22 comment), KTOS +15.9% (filed delinquent financial reports for Q1 and Q2), POZN +12.1% (plans to submit response to approvable letter for Trexima within the next ten days), CRDC +10.6% (still checking for any news), ZIXI +8.8% (not seeing anything new), STAR +8.3% (Cramer highlighted co as an overlooked IPO), OXGN +6.8% (reports positive interim results from Phase Ib Zybrestat-Bevacizumab combination study).
Disclaimer & How I use this list
Well, I already have a copy of Timmy’s book, so I didn’t enter the contest …
But I just KNEW that given the bearish tilt of your readership, I should have chimed in the “Price is Right” death cry of $1 over the highest bid …
:d
Mike,
I use Trade-Ideas based on your recommendation, but still somewhat frustrated in terms of utilizing it effeciently. Could I ask your favorite setup for Trade-Ideas? I know you recommend NR7, but what kind of volume ratio do you like to go along with that?
Thanks, Kevin