Strength in the dollar and commodity weakness helped the broader stock market to turn around yesterday. That dynamic is carrying through to today as we have the dollar up in the premarket and oil down.
On Today’s Calendar:
- 10:00 — Mich Sentiment-Prel.
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: HAR -10.5% (also downgraded to Neutral at Baird), DV -4.2% ANF -1.6% JCP -1.0%… Select metals/mining stocks showing weakness with lower spot prices on continued strength in dollar: SLV -9.3%, AAUK -5.0%, GOLD 4.9%, KGC -3.8%, GFI -3.3%, HMY -3.2%, GG -3.1%, GLD -3.0%, ABX -2.9%, HL -2.5%, AUY -1.4%, RTP -1.3%… Other news: CMVT -23.5% (discloses business update in letter to employees; recent business environment indicates slower momentum in the second quarter; also downgraded to Neutral at JPMorgan), YRCW -2.3% (appoints Paul Liljegren Interim Chief Financial Officer), DB -1.7% and HBC -1.2% (checking for anything specific).
Gapping Up
In reaction to strong earnings/guidance: FFHL +25.6%, APP +8.6%, ADSK +8.5% (also upgraded to Buy at Needham), KONG +4.7%, KSS +3.2%… Select mortgage/financial names showing strength boosted by S&P ratings affirmations: ABK +23.2% (Ambac’s ‘AA’ rating affirmed by S&P), SCA +17.4%, MBI +8.0% (MBIA Insurance ‘AA’ ratings affirmed and taken off creditwatch; outlook negative at S&P), MTG +6.4%, PMI +4.3% (Fitch affirms PMI Mortgage Insurance & QBE Insurance Group; PMI’s outlook revised to stable), WB +3.4%, LEH +3.5% (Soros boosts Lehman stake to 9.5 million shares – Reuters.com), FNM +2.3%, WM +2.3%, FRE +1.9%, UBS +1.5%, MER +1.3%, BAC +1.1%… Select airline names trading modestly higher with crude lower on continued strength in dollar: LCC +7.2%, AMR +5.4%, UAUA +5.0%, JBLU +3.7%, CAL +3.1%… Select solar stocks trading higher: SPWR +10.7% (PG&E signs 800 MW photovoltaic solar power agreements with OptiSolar and SunPower; also upgraded to Buy at Merrill), SOLF +3.5%, YGE +3.0%, TSL +2.3%, CSIQ +2.1%, FSLR +1.8%, JASO +1.3%, STP +1.3%, ESLR +1.1%… Other news: EMIS +19.1% (Icahn Capital reports 86,430 Emisphere Tech shrs – DJ), NRG +6.2% (Berkshire held 3.2 mln shrs NRG Energy at June 30 – DJ), CROX +3.3% (Gates Foundation reports 1 mln shares of Crocs at June 30 – DJ), GM +1.8% (will announce a multi-mln dollar investment into its Lordstown Complex on August 21)… Analyst comments: PCLN +3.5% (upgraded to Buy at Citigroup), EMKR +3.4% (initiated with Buy at Stanford).
Disclaimer & How I use this list
