The market's set to open down a bit this morning. If it can shake off the early selling I'll be focused on the 200-day moving average on the S&P 500, which is just a few points overhead.
Currently holding:
Long - INFY, ISRG, URBN, WBSN
Short - none
Looking for swing trade entries in:
Longs - ARTC, CRL, JOSB, MSO, NCEN, TEK
Shorts - UTSI
Potential day trades:
(From Briefing.com)
Gapping DownMRK -20.6% (announces withdrawl of Vioxx, lowers guidance), STMP -9.2% (asked by Postal Service to stop taking photostamp orders), TZOO -8.7% (announces $30 mln private placement at $40/share), TLB -8.4% (guides lower; downgrades from Piper, First Albany and Sanders Morris), CNXT -6% (guides Q3 revs lower), ENTG -5.8% (misses by $0.02, guides below consensus), AUO -5.4%, MICU -5% (prices 4.8 mln shares at $14.75), RECN -4.8% (reports AugQ), ANN -3.5% (BofA downgrade), ERES -3.2% (Advest downgrade), IDNX -2.4% (profit taking after 29% move yesterday), TEVA -1.8% (in sympathy with MRK), MNST -1.5% (AmTech downgrade)... Under $3: INMT -43% (files for bankruptcy).
Gapping Up
PFE +6.2% (MRK's Vioxx withdrawl seen as a positive for PFE's Bextra and Celebrex), LGND +5.5% (First Albany upgrade), ARIA +5.1% (starts Phase II trial of mTOR tumor inhibitor), OVTI +4.7% (Micron's CMOS sensor inventory levels very low, positive for OVTI - JP Morgan), SIRI +4.3% (JP Morgan upgrade), OSIP +2.4% (Tarceva NDA granted priority review), IMCL +2.4% (OSIP news seen as good news for IMCL as Erbitux is same class of drug), MANT +2.4% (RBC upgrade), NOK +2% (positive analyst comments), PEP +1.7% (beats by a penny; reaffirms Y04 guidance).... Under $3: ULTE +21%, GNLB +18% (to collaborate with GILD), DCTH +17% (Natl Cancer Institute opens second cancer trial with DCTH technology), NYER +14%, CRAY +9% (announces order), IMNY +6%, ASTM +4.4% (awarded NIH grant), VLTS +4.2% (bounces from 65% drop yesterday).
