Not surprisingly, yesterday's action created a lot of bearish candlesticks. I saw a lot of hanging men, bearish engulfings, doji and shooting stars in the charts. I'll be watching to see if many of those patterns are confirmed by closing below yesterday's lows.
Currently holding:
Long - BEBE, CCMP, FSL, VRSN, WBSN, WFMI
Short - none
Looking for swing trade entries in:
Longs - BHE, CME, CVTX, SRNA, VIP (disclosure: I'm long VIP in my IRA)
Shorts - SJT
Potential day trades:
(From Briefing.com)
Gapping Down
ELOS -18% (asked by FDA to resubmit marketing application for its VelaSmooth cellulite treatment, CIBC downgrade), XING -14% (reports SepQ), HOTT -10.6% (reports Nov comps down 8.0%; lowers Q4 guidance; Fulcrum downgrade), CRAY -9.2% (announces $60 mln convertible notes offering), ENZN -7.4% (FDA briefing documents posted on website for Marqibo), MICC -6.3% (announces stock offering), ARRY -5.5% (files to offer 6 mln shares), TTMI -4.4%, AMTD -2.9% (started with a Sell at BofA), HCC -2.7% (files to offer 3 mln shares), DHB -2.1%, ELN -1.4% (announces completion of tender offer and consent solicitation for guaranteed notes).
Gapping Up
MUSE +11% (selected by Japan's NTT Corp for business service mgmt backbone), CTRX +10% (CIBC and Piper initiate coverage on this recent IPO), EGHT +6.1% (signs agreement with D&H Distributing), GIVN +6.2% (continues 7% move yesterday), RHAT +5.3% (Pru upgrade), IDNX +3.6% (announces biometrics order), APOL +2.1% (Bear Stearns sets $97 price tgt), IMCL +1.7% (receives patent).... Under $3: WGAT +21%, LOUD +15% (to provide digital media services for the Music Choice Network launch of On Demand Video), ULTE +14% (signs new contracts with eight homebuilders), HETC +12%, SSPI +7%, BITS +6.7%.
I'm also watching OSTK, PLMO and NVDA
