Well although the election result isn't official yet, it's clear that Bush has won. The market is reacting in the pre-market as evidenced by the futures flying high. I'm looking to buy, but as always I'll be paying heed to my Rule #1. (That is why I have it posted on my monitor!) Watch out for the S&P which is gapping right into resistance. Cuidado!
Currently holding:
Long - none
Short - none
Looking for swing trade entries in:
Longs - AIRT, FFIV, GNSS, GRMN, LSCP, MSTR, NEW, VIP, WBSN
Shorts - ACE, AIG, BOL, ESRX, FDC, GM, HNT, MANH, TIF, USPI, VECO
Potential day trades:
(From Briefing.com)
08:25 Election Movers
Bush Stocks: PFE +4.5%, AZN +4%, MRK +3.2%, BMY +2.5%, RD +1.9% and the stock market in general (QQQ +1.7%, SPY +1.2%, DIA +1.2%)... Kerry Stocks: STEM -21%, ASTM -16%, GERN -11%, BLDP -1%, FCEL -1%.
Gapping Down
Stocks weak on Bush victory: STEM -17%, ASTM -14%, GERN -8.5%, BLDP -3% (co also reports Q3), FCEL -2.4%.... Other News: MOGN -6.3%, CFC -4% (guides for FY05), IDNX -2.6% (JP Morgan downgrade), NTLI -2% (reports Q3).
Gapping Up
Drug stocks are strong on Bush victory: PFE +4.9%, AZN +4.5% (also Lehman upgrade), WYE +4.5%, PPH +4%, AMGN +3.5%..... Up on strong earnings/guidance: IACI +9.3%, KOSP +14%, ALVR +8.1%.... Other News: MTSX +8.4% (defense tech co up on Bush win), COGT +7.4% (multiple initiations), WLDA +6.3% (holders convert $1 mln debentures), DNDN +6% (achieves commercial scale of antigen for Provenge), TZOO +5.3% (bounces after 6 pt drop yesterday; short covering), ISON +5% (homeland security stock up on Bush win), LONG +4.6% (continues recent momentum), ODSY +4.5% (continues 13% move yesterday), AIRT +4.2%, NFLX +3.9%, NSM +3.8%, MLNM +3.7% (Granted fast track status by FDA), STM +3.7% (co's kit to power Enel's next-generation electricity meters).... Under $3: EGHT +16% (signs retail agreement with CompUSA), PRTL +7.7%, IVAN +5.3%, CIEN +4.9%.
