The futures are getting slammed today off of yesterday's CSCO news. It's looking like another tough day for the bulls. I doubt that I'll enter any swing trades today since I have nothing but longs on the list, and even if I had shorts I don't know that I'd want to short into this gap down.
If you need a good laugh this morning go read Mr Sun's hilarious theory on how Alan Greenspan met Andrea Mitchell. (link via MaoXian)
Currently holding:
Long - None
Short - None
Looking for swing trade entries in:
Longs - CRS, CTSH, IFIN, ISRG, NTMD, NUS, POS, SFCC, TEX
Shorts - None
Potential day trades:
(From Briefing.com)
Gapping Down
CSCO -8.2% (reports JulQ, slight miss on gross margins and increase in inventories; three tier-1 downgrades), Down in sympathy with CSCO: PMCS -7.8%, BRCM -6.2%, JNPR 4.9%, ERICY -4.6%.... NSM -8.3% (lowers AugQ rev guidance; Smith Barney downgrade), Semis down in sympathy: ALTR -5.6%, XLNX -5.0%.... KLIC -25% (lowers SepQ rev guidance), ANF -10.4% (beats by a penny, slightly light on revs, guides below consensus, Piper downgrade), UTSI -6.7% (delays Q2 filings, cut to Sell at Oppenheimer), ASML -7.3% (down on NSM and KLIC warnings), MCIP -5.4% (cut to Underperform from Neutral at CSFB), NFLX -4% (Blockbuster launches online DVD service), SAP -3.9%.... Under $3: WVCM -12%.Tech pressured in pre-market on CSCO guidance, NSM/KLIC warnings
Key downside movers this morning include Networking/Telecom Equip stocks: CSCO -7.6%, JNPR -5%, ERICY -5%, CIEN -3.7%, NT -3.3%, LU -3%, TLAB -1%... Semiconductors: NSM -9%, PMCS -8%, ASML -7%, BRCM -6%, XLNX -5%, STM -3.8%, LLTC -2.7%, MXIM -1.8%, INTC -1.4%... Semiconductor Equipment: TER -3.9%, AMAT -3.5%, KLAC -3.3%, NVLS -2.8%... Other Tech Casualities: SAP -3.7%, MOT -3.2%, NOK -2.8%, SUNW -1.9%, YHOO -1.8%, EBAY -1.7%... ETFs of Note: SMH -3.1%, QQQ -1.2%, SPY -0.6%, DIA -0.5%.
Gapping Up
PCNTF +8% (reports JunQ), LCBM +6% (reports JunQ), SPOT +3%, TOMO +2% (makes acquisition in China)... Stem Cells catching interest: ASTM +8%, STEM +6.5%.
