We’ve fallen back into that oh-so-fun pattern of up one day, down the next. But this action isn’t so bad for the bulls because the market is attempting to work off its overbought condition by just going sideways instead of down.
On Today’s Calendar:
- 10:00 — New Home Sales
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 disappointing earnings/guidance: VDSI -19.0% (also downgraded to Market Perform from Outperform at Morgan Keegan), SCSS -13.6%, TASR -13.0%, MCRI -11.9% (also downgraded to Source of Funds at ThinkPanmure), LYTS -11.2%, SBUX -11.0%, CNH -9.8%, FSTR -9.2%, WHR -8.8%, PTV -7.0% (also downgraded to Neutral at Merrill), XLNX -6.7%, KLIC -5.4%, QDEL -5.1%, EXTR -4.5% (also downgraded to Market Perform at JMP), LRCX -4.4%, NTRI -4.4%, CTXS -4.3%, AMZN -4.1%, MOT -3.7%, AZN -3.6%, WEN -3.4% (also Wendy’s and Triarc sign definitive merger agreement), SANM -3.4%, RCL -3.3%, NSIT -3.1%, BCR -3.0%, CMG -2.6%, TSCO -2.1%, EFII -1.7%, PHM -1.5%, ADS -1.5%, QCOM -1.2%… Select mining stocks showing weakness: RTP -3.9%, BHP -2.7%, GOLD -1.8%, AUY -1.6%, AEM -1.4%, GFI -1.1%… Other news: CLMT -10.3% (announces quarterly cash distribution decrease of 27% to $0.45 per unit and downgraded to Underperform at Raymond James), EWBC -5.3% (to offer $150 million of non-cumulative convertible preferred stock), RZ -5.2% (still checking), ASML -2.2% (still checking), SOV -3.3% (continued weakness following yesterday morning’s earnings, tgt was cut to $8 at Sterne Agee), NOK -2.5% (down in sympathy with MOT), GSK -2.5% (down in sympathy with AZN)… Analyst downgrades: CDL -3.2% (coverage assumed with Sell at Citigroup), ATI -1.7% (downgraded to Neutral at tier 1 firm), PLLL -1.5% (downgraded to Add from Strong Buy at Capital One SouthCoast), GW -1.4% (downgraded to Mkt Perform at BMO), NS -1.2% (downgraded to Underweight at Morgan Stanley).
Gapping Up
In reaction to strong earnings/guidance: WIRE +21.3%, LSI +19.0%, SPAR +15.0%, ADSK +8.6%, CLS +7.4%, EQIX +7.0%, FFIV +7.0%, SKX +6.8%, ASIA +6.1%, HLIT +5.5%, PRXL +5.3%, F +4.9%, GDI +4.5%, FMC +3.9%, KEX +3.6%, AXYS +3.3%, NE +2.6%, TEX +2.5%, CPX +2.4%, CDNS +2.3%, BG +2.3%, NEU +2.0%, BEZ +1.8%, TRA +1.6%, AFL +1.4%, CS +1.2%, WOOF +1.2%, AAPL +1.0% (also upgraded to Market Perform from Underperform at Morgan Keegan)… Other news: EPIX +38.2% (announces positive results from re-read of Vasovist Phase 3 images), WAVE +31.3% (retains Deutsche Bank and UBS to explore the sale of its wireless spectrum holdings in the U.S.), SLTC +9.8% (Steel Partners discloses 10.2% stake in amended 13D filing; up from 8.9% previously reported on 12/31), ABK +8.1% (modestly rebounding after yesterday’s 40%+drop), BVF +6.4% (receives FDA approval for Aplenzin), ABB +6.0% (still checking), COMV +3.2% (Cramer makes positive comments on MadMoney), CLNE +1.8% (signs fueling contract for city of Las Vegas Transit Fleet), NRG +1.0% (Cramer makes positive comments on MadMoney)… Analyst upgrades: SIRI +6.0% (assumed with a Buy at Citigroup), TRLG +5.6% (upgraded to Outperform at Morgan Keegan), RFMD +5.6% (upgraded to Buy at Jefferies), XMSR +4.1% (assumed with a Hold at Citigroup), LVLT +2.7% (upgraded to Neutral at Merriman).
Disclaimer & How I use this list
