The Nasdaq has touched and/or crossed its 200-day moving average each of the last 5 sessions. It looks like it may try to cross it again early in today’s session. But it’s also found support at its rising March trendline the last two days. So we’ve got another of those situations where one of the lines will have to break soon due to those two lines converging in the near future.
On Today’s Calendar:
- nothing
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/same store sales: IDT -23.9%, SFD -5.1%, AEO -3.8%, BLUD -3.3%, ARO -3.1%, WTSLA -2.7%, MATK -2.7%, HOTT -2.5%, PSS -2.4%, DPS -1.7%, GPS -1.3%, ASML -1.2%… Select metals/mining stocks showing weakness with lower spot prices: BHP -2.9%, BBL -2.6%, GOLD -2.6%, AUY -1.9%, GLD -1.2%, KGC -1.2%, AEM -1.0%, GFI -1.0%… Other news: DESC -58.7% (files voluntary Chapter 11 petitions), NOK -1.6% (gets EU approval to buy Norway’s Trolltech – Bloomberg.com), NUAN -1.6% (commences public offering of common stock), YHOO -1.0% (MSFT CEO Ballmer says MSFT is not in talks with YHOO about the acquisition of the whole company – Washington Post)… Analyst downgrades: ADBE -4.0% (downgraded to Neutral at Cowen), ATI -2.6% (downgraded to Neutral at JPMorgan), PCAR -2.3% (downgraded to Sell at UBS), DTV -2.3% (downgraded to Neutral at tier 1 firm), HEES -2.1% (downgraded to Neutral at UBS), PH -1.9% (downgraded to Sell at UBS), CRS -1.6% (downgraded to Neutral at JPMorgan), VRSN -1.2% (downgraded to Neutral at JPMorgan), MOT -1.2% (downgraded to Underperform at Oppenheimer).
Gapping Up
In reaction to strong earnings/guidance/same store sales: CMTL +6.3%, SBLK +5.4%, ADCT +4.2%, CIEN +3.3%, ANF +3.2%, GEF +2.4%, ULTA +2.3%, WMT +1.4%, DDMX +1.2%, CTR +1.1%, COST +1.0%… M&A news: TRCA +99.5% (Ipsen to acquire Tercica for $9.00/share in cash)… Select airline stocks rebounding boosted by analyst upgrades of select names: UAUA +5.0% (upgraded to Overweight at Lehman and upgraded to Hold at Soleil), NWA +4.9% (upgraded to Overweight at Lehman), DAL +4.3%, CAL +2.4% AMR +2.3% (to reduce capacity, fleet and staffing)… Other news: VNDA +11.3% (Laboratory Corp of America and VNDA announce an exclusive alliance to develop and commercialize a series of diagnostic tests for genetic markers identified by Vanda), UBS +5.2% (to close municipal bond unit as no buyer found, paper says – Bloomberg.com), BTE +4.5% (announces a 25% increase in monthly distributions to $0.25/unit attributable to strength of underlying business and outlook for a continued strong commodity price environment) SWKS +3.3% (Cramer makes positive comments on MadMoney), ABK +2.0% (registers 14 mln shares for holders in an S-3ASR), RBS +1.8% (WSJ reports the recent rights offering by Royal Bank of Scotland Group looks likely to succeed; also upgraded to Buy at Citigroup), LEH +1.4% (is also open to big U.S. investors – WSJ)… Analyst upgrades: VRTX +6.0% (upgraded to Outperform at Cowen), ZRAN +5.5% (upgraded to Buy at Lazard Capital), FCFS +5.3% (upgraded to Buy at Roth Capital), NVDA +3.8% (upgraded to Buy at tier 1 firm), TCB +2.7% (upgraded to Buy at Stifel Nicolaus), CCOI +1.7% (upgraded to Outperform at RBC), VMED +1.6% (upgraded to Overweight at Morgan Stanley).
Disclaimer & How I use this list
