I’m still watching for a lower-low on the S&P, which will indicate a down-trending channel. Given today’s gap down it looks like we may get that lower low. I’ll also be watching for potential support near the 50-day moving average.
On Today’s Calendar:
- 10:00 — ISM Services
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: ORBK -12.8%, CAH -6.3%… Seeing weakness in larger China-related names after the Hang Seng dropped 5% overnight: SNP -10.7%, PTR -9%, CEO -8.6%, CHL -8%, CHU -%, ACH -7.7%, CN -7.3%, CHA -6.9% … Other News: NOVC -60.2% (halts ASCENT-2 trial in advanced prostate cancer; also downgraded to Underperform at Bear Stearns), VRTX -8.3% (downgraded to Market Perform at Rodman & Renshaw), DPTR -7.4% (mentioned negatively in Barron’s), C -4.7% (announced additional write-downs, departure of Chairman/CEO Charles Prince).
Gapping Up
On strong earnings/guidance: WCG +45.4% (also upgrades to at Jefferies), MVL +15.8%, VOLT +7.6%, LXU +5.3%… M&A: ALFA +21.4% (to be taken private for $22.00 per share), AFR +22.8% (to be acquired by GKK in cash and stock deal valued at ~$8.42 per share)… Other news: IRBT +14.0% (granted injunction in trade secrets lawsuit), MTSX +13.6% (co announces cooperative memorandum with IRBT), BLDP +11.6% (co responds to Nov 3 Reuters story on automotive fuel cell transaction; says it has been reviewing strategic alternatives with regard to its automotive fuel cell assets), MAT +4.9% (mentioned positively in Barron’s).
Disclaimer & How I use this list
hey mike,
what happened to your daily market recaps?
hope i’ll start again soon.
(well) hope you’l start :d
Sorry Nick, I’ve been slacking off. Many days I just have nothing to say. I’ll try to do better, even if I just post some charts with minimal commentary