There are only longs on the list today, but by no means am I bullish on the market right here. With the NASDAQ and the S&P 500 perched just above their 50-day moving averages and stochastic oversold on both indices, I just don't see this as a good juncture to initiate any more shorts. I've lowered my stops on my shorts and I'll probably wait for them to be stopped out before attempting any (swing) longs. Honestly though, I'm just not feeling like doing much until after earnings season and the election. I wish we could just fast-forward a month...
Looks like we've got some real jumpers in the pre-market this morning (see the gapping up section below).
Oh yeah.. oil is over $50 now :-o (I've got to install some emoticons)
Currently holding:
Long - None
Short - ERES, IDT
Looking for swing trade entries in:
Longs - CRL, EBAY, SEPR, TRMB, URBN, VIP
Shorts - none
Potential day trades:
(From Briefing.com)
Gapping DownCY -2.8% (guides lower again), CPN -8% (prices 89 mln share secondary at $2.75), ADTN -8% (Morgan Stanley downgrade), YAKC -6% (guides sales lower), NIHD -3% (6.2 mln share offering prices at $40.75), DHB -2.8%, AVCI -2% (guides lower; downin sympathy: JNPR -2.2% (also Friedman Billings downgrade), TNS -2% (prices secondary offering at $20), NSTK -1.5% (profit taking from 70% move yesterday).
Gapping Up
AGIX +78% (announces positive interim results from CART-2), OXGN +28% (announces positive cancer data), NABI +22% (announces positive clinical data), WLDA +18% (files with DOT to Link Silicon Valley and China; up in sympathy: AIRT +4.6%, VEXP +12%), DRXR +12.5% (announces $5 mln Homeland Security follow-on order), TOPT +8% (highlighted in InvestorsBusinessDaily), OVTI +4.6% (introduces 5-megapixel CMOS image sensor for camera phones), UTEK +4% (Merrill upgrade), GOOG +2.1% (initiated by JP Morgan, CSFB, Thomas Weisel), NXTL +2.1% (to repurchase NXTP and NXTL shares held by MOT).... Under $3: NXXI +15%, IMNR +15% (reports positive HIV data), GNBT +13% (enters into Collaborative Research and Development Agreement).
