Those of you who are daytrading may want to stay on your toes at 2:00 when the FOMC minutes get released. I doubt there will be anything earth-shattering in there but you never know.
On Today’s Calendar:
- 10:30 — Crude Inventories
- 2:00 — FOMC Minutes
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: VRTU -11.9%, QXM -10.4% (very light volume), LTXX -9.7%, RRGB -6.9%, ADI -4.9% (also downgraded to Sector Perform from Outperform at Pacific Crest), CHRS -4.8%, PHHM -4.1%… Select European financial names trading lower following weakness in overseas trading: RBS -3.7% , UBS -2.9% , HBC -1.6% , CS -1.4% , DB -1.2% , ING -1.1%… Other news: PEIX -6.2% (modestly pulling back after this week’s 40%+surge higher), CCL -4.7% (still checking for anything specific, crude making new all time highs again; peer RCL -0.8%), PKX -3.1% (still checking), PCX -2.1% (announces $175 mln convertible note offering)… Analyst downgrades: UAUA -4.0% (downgraded to Sell at Soleil), AMR -3.7% (downgraded to Sell at Soleil), CLR -2.9% (downgraded to Neutral at JPMorgan), FSLR -2.3% (downgraded to Underperform at FBR), CAL -2.1% (downgraded to Hold at Soleil), NETC -1.8% (downgraded to Neutral at Merrill), ENS -1.5% (downgraded to Hold at Merriman), EP -1.2% (hearing downgraded to Neutral and removed from America Buy List at tier 1 firm).
Gapping Up
In reaction to strong earnings/guidance: SOLF +10.1%, DY +7.5% (also announces $15 mln stock repurchase program), EGHT +4.3%, OCNF +4.1%, INTU +3.8%… Select drybulk shipping names showing strength: EGLE +2.4%, PRGN +2.0%, SBLK +1.8%, DRYS +1.8%, EXM +1.8%, TBSI +1.4%… Select oil/gas stocks showing strength with crude setting another all time high: RDS.A +3.1%, E +2.3%, BP +1.9%, TOT +1.8%… Other news: ADLR +19.2% (Adolor and GSK’s Entereg wins FDA approval), IDEV +7.7% (presents “successful” Phase III NEBIDO data at American Urological Association), CEO +4.8% (still checking), CEGE +3.2% (reports “encouraging” interim data from phase 1 clinical trial of CG0070 in recurrent bladder cancer), DNDN +3.2% (presents preclinical data demonstrating activity of Trp-p8 agonist, D-3263, in benign prostatic hyperplasia), TWX +2.2% (Time Warner and Time Warner Cable confirm separation)… Analyst upgrades: CSUN +6.0% (upgraded to Hold at Jefferies), MU +3.4% (upgraded to Buy at Deutsche Bank), CENT +2.1% (upgraded to Outperform at Piper), MDT +1.1% (upgraded to Buy at tier 1 firm), RIO +1.0% (hearing named as top sector picks in Basic Materials at tier 1 firm).
Disclaimer & How I use this list
Mike:
I am really starting to worry that we are going to see a uptick in revisions. I believe the the greatest power the fed has is the pencil as they attempt to stall the inevitable.
If we continue to see revisions, we will know that there is a much greater problem lurking….
Keep up the great work!
Andrew
Mike, any thoughts on Transports/IYT getting stuffed Monday at a new all time high (intraday)? Do you look at the Trans in your preparation? I’m curious because it’s been a leader in this recent rally.
Docdan,
I tried to answer this in tonight;s recap.