There are just a couple of changes to yesterday's list, which isn't surprising since the market, especially the Naz, was little changed yesterday. One development of note is the banking index (BKX) breaking below its 200-day moving average. That index was looking great about a week ago, but has now fallen about 3% in 5 days.
Currently holding:
Long - None
Short - ERES, IDT
Looking for swing trade entries in:
Longs - ALDN, COH, DTV, EBAY, MBT, RDA, SAXN, URBN, VIP, WNC
Shorts - BRCM, CPRT, NARA, NSM
Potential day trades:
(From Briefing.com)
Gapping Downcoming...
Gapping Up
PSRC -10% (reports AugQ; disappointing guidance; Deutsche downgrade), ESIO -11% (guides lower), CRUS -8% (guides revs below consensus; lowers gross margin expectations), AVNX -6% (auditor resigns), SGMS -5% (compeitor GTK chosen as provider of online lottery in Thailand), SINA -2% (comments at ThinkEquity conference, see 17:00 comment).
*** those cargo ship charts are insane!
Seems like EVERYONE is expecting a fall swoon into October. I'm remaining long here. I think the rally continues to the election. One thing I'm reading is that folks expect the swoon, and then a rally when Bush wins in November.
It'll all be priced in way before that. I think!