Currently holding:
Long – BEBE, CCMP, PLMO, WFMI
Short – none
Looking for swing trade entries in:
Longs – CPRT, ECST, EWBC, LOW, USG, WBSN
Shorts – SIR
Potential day trades:
(From Briefing.com)
Gapping Down
MIK -9% (reports in-line, guides JanQ to low end of previous guidance; Wachovia and BB&T downgrades), POSS -13% (reports Q1), CNCT -10% (gets FDA non-approvable letter for Extina drug, Piper downgrade), QTWW -9% (to acquire StarCraft), SEAC -6.6% (reports OctQ), SIRI -1.6% (JP Morgan downgrade), SPIL -23%…. Under $3: EMRG -16%, SCON -10% (announces offering), LOUD -5.2% (registers 13.9 mln shares to be sold by holders).
Gapping Up
GOOG +5.7% (Goldman inits with a $215 target) — Up in sympathy: INCX +5%, ASKJ +3%, TZOO +3%…. Other News: BIIB +5.2% (MS drug Tysabri gets quick FDA approval), ELN +5% (Tysabri is partnered with ELN), MAGS +5% (gets US$3.4 mln order to protect Correctional Service Canada sites), PCNTF +12% (momentum from 20% move yesterday), DV +7.4% (adopts poison pill), DAL +6.1% (UBS upgrade – says co is not likely to go bankrupt just yet), NT +3.2% (provides accounting update)…. Recent momentum names moving: LMIA +7.5%, PACT +6%, BOOM +5.6%, GOAM +4.4%…. Under $3: BCON +19%, DIGL +11.5%, AATK +8%.
{ 1 comment }
Dear Mike,
I’m a new reader of your blog, so first of all I want to thank you for taking the time to educate the “dummies” of the world, such as myself.
I have a question for you: How did you identify SIR as a short candidate? And having done so, how do you determine your entry point?
If you could answer these questions, I would be very grateful.
Thanks in advance.
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