I’m surprised that Intel alone hasn’t put a ton of selling pressure on the market this morning, much less the other bad news like the high initial jobless claims. So it looks like a mixed open — S&P up a bit, Nasdaq down a bit. If we do get more selling the bulls need to defend those October lows.
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: CROX -41.1%, FEED -32.6%, GA -19.9% (also downgraded to Neutral at Piper), DPS -8.6%, INTC -4.8%, NTES -4.3%, APEI -4.3% (also files for a 4.2 mln share offering by selling stockholders), TTEK -3.0%, PAAS -2.8%, NSM -1.4%… Select tech-related names trading lower following INTC guidance: DELL -5.2% (added to Goldman Conviction Sell list at Goldman – DJ), NVDA -4.6%, TXN -2.9%, IBM -2.1%, BRCM -1.6%, AAPL -1.6%, QCOM -1.1%, CSCO -1.1%… Select financials trading lower: KEY -6.3%, PUK -5.5%, BCS -2.5% (Pressure builds on Barclays to force better deal for UK shareholders from its Gulf investors – Times of London), UBS -2.4%, HBC -2.3%, ING -1.9%… Other news: WCG -24.6% (filed to delay its 10-Q), EBS -5.0% (files $100 mln shelf registration statement), CHK -2.4% (still checking), BHP -2.2% (considers iron ore spin off, according to report – DJ), BNI -1.4% (files for debt securities shelf offering)… Analyst comments: SINA -5.2% (downgraded to Hold at Needham), DRI -2.9% (downgraded to Sell at MKM Partners).
Gapping Up
In reaction to strong earnings/guidance: PRGN +10.1%, NTAP +5.9%, URBN +5.2%, CPBY +5.0% (light volume), BT +4.8%, SI +4.2% (light volume), AMAT +4.0%… Select metals/mining names ticking higher: MT +9.8%, GFI +2.3%, RIO +1.4%… Other news: AMAG +67.4% (announces ferumoxytol resubmission designated complete, Class 1 response by the FDA), SOL +9.5% (modestly rebounding after yesterday’s 40%+ drop), ENL +7.9% (still checking), GM +7.1% (still checking for anything specific), SNY +2.8% (planning to meet with U.S. regulators “very soon” to discuss the eligibility of its malaria treatment – Bloomberg.com), LDK +2.7% (comments on current business environment; has secured contracts totaling 1.8 GW for 2009), ADM +1.3% (Cramer makes positive comments on MadMoney)… Analyst comments: LVS +5.9% (upgraded to Neutral at BofA).
Disclaimer & How I use this list
