Posted by 26 February 2008

Watchlist for February 26, 2008

This morning’s PPI data has put inflation worries front & center again. So it looks like it’s going to be tough to follow-through on yesterday’s rally.

Google’s been showing poor relative strength for about the last week. I’ve been wondering if *somebody* knew some bad news. Then some disappointing ComScore data came out late yesterday. Coincidence??? I’ll be watching GOOG and BIDU closely today…

On Today’s Calendar:

  • 10:00 — Consumer Confidence

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. Also be sure to check my typical swing trade entry & exit rules.

Potential day trades:

(From Briefing.com)

Gapping Down

In reaction to strong earnings/guidance: -30.9%, CRDN -21.5%, TWP -17.1%, SSYS -15.8%, USU -15.5%, ODP -13.3%, FWLT -9.0%, TYPE -6.1%, SWC -6.1%, DK -5.8%, DISH -4.6%, GPI -4.6%, KWK -4.1%, LDK -3.8%… Financial guarantors trading slightly lower following yesterday’s surge: ABK -3.2%, MBI-1.0%… Other news: EVOL -9.3% (completes debt refinancing), SPF -4.9% (registers $600 mln in securities), GOOG -3.5% (Multiple brokers comment on comScore data: Lehman says they expect further near-term weakness in GOOG, Jefferies says Street estimates may need to come down if the January trend persists), PAL -3.3% (not seeing anything).

Gapping Up

In reaction to strong earnings/guidance: ASTE +16.3%, CNTF +14.3%, RSH +8.3%, THC +7.7%, SNDA +5.3%, CBRL +4.5%, PKD +3.8%, FDP +3.6%… M&A news: CGPI +27.9% (to be acquired by Galderma for $16.60/share), NMHC +9.6% (to be acquired by SXC Health Solutions for an estimated $11/share)… Other news: PRAN +65.9% (announces ‘success’ in Phase IIa clinical trial of PBT2), OMEX +9.6% (named sole custodian for shipwreck site), ANTP +5.0% (received purchase order of $512K)… Analyst upgrades: RAD -5.4% (upgraded to Overweight at JP Morgan), GOOG -3.5% (Multiple brokers comment on comScore data: Lehman says they expect further near-term weakness in GOOG, Jefferies says Street estimates may need to come down if the January trend persists).

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Comments

  1. Posted by Howie by the sea on February 26, 2008 at 11:22 am

    Mike
    good work, simple and to the point… keep it up!

    the gap fader paradise continues….

  2. Posted by Howie by the sea on February 26, 2008 at 12:12 pm

    oil 3 point breakout above 100, leads oil heavy broad indices?

  3. Posted by Sam on February 27, 2008 at 4:55 pm

    Do you trade by yourself or do you belong to any chat rooms?

    How about one of your excellent write ups on playing gap fades. As we know the gap and go has lost its mo.

    Thanks