I can't believe that the Oracle/Peoplesoft drama is finally over. I'm so glad that I won't have to hear about it any more...
With the Fed interest rate decision looming I won't be making any moves until at least 3:00 tomorrow but probably not until Wednesday.
Currently holding:
Long - CME, FORM, INFY, JOYG, MYGN, SYNA, URBN
Short - None
Looking for swing trade entries in:
Longs - AMD, HYSL, IRF, JCOM, KSWS, MACR, NKTR, SRNA, STK, VSEA
Shorts - SCSS
Potential day trades:
(From Briefing.com)
Gapping Down
ABTLE -23% (withdraws Y04 EPS guidance, Merriman downgrade), TUES -18% (guides lower), CAH -11% (announces global restructuring plan, cuts Y05 guidance), OVTI -3.5% (cut to Neutral at Next Generation following SEC inquiry disclosure), DITC -2.9% (First Albany downgrade)... Under $3: ULTE -55% (seeks to delay 10-Q filing), CNXT -10% (lowers guidance).
Gapping Up
PSFT +10.4% (agrees to be acquired by ORCL), ORCL +6% (reports NovQ, to buy PSFT), NVEC +13% (completes biosensor program phase), SJH +8% (to be acquired for $48/sh), GEPT +16% (receives order for 12 onboard aircraft surveillance systems), QTWW +12% (started with a Buy at Merriman), IMOS +7.6% (RBC upgrade), DSCO +7.4% (announces positive clinical data for Surfaxin), NGPS +6.8% (recent momentum), SIRI +6.7% (to be added to Nasdaq 100), HYGS +6.7% (to design and build a Hydrogen Generation System), JOBS +5.7% (continues Friday's momentum), IMAX +5.7% (guides higher, settles litigation with UCI), DNDN +4.7% (co's immunotherapy shows promise in advanced breast cancer), OSTK +4.5% (started with an Overweight at Lehman; tgt $90), TIBX +4.3% (Jefferies upgrade), AH +4.3% (US Army rushes to harden Iraq-bound vehicles - Reuters), TASR +3.8% (announces report describing Tasr's safety), TIVO +3.4% (The Ellen DeGeneres Show to give DVRs to audience)... Under $3: FTGX +14% (to buy Con Ed subsidiary for about $37 mln cash), MBAY +9.5% (announces deal with HarperCollins Publishers to offer downloadable audiobooks), AAC +7.4% (Ableauctions.com guides), CMGI +7.1%, IVAN +6.6% (Operations start at oil plant).
The fight's over, but the drama starts when $10.3 billion worth of scrappy, not-invented-here perfectionism meets $75 billion worth of 3rd-rate software and 1st-rate salesmanship.
-Byrne