There was some interesting action yesterday that printed a lot of shooting stars on many stocks that are real close to their upper Bollinger Bands. On the other, bullish, hand the Nasdaq was able to find support around 2,153 twice during the day. So it appears that 2,153 has switched from resistance to support. Overall though, I'd call yesterday a stalemate between the bears and the bulls.
Currently holding:
Long - AMD, CME, FBR, FORM, INFY, MYGN, SIMG, SYNA, URBN
Short - OSIP
Looking for swing trade entries in:
Longs - CREAF, VSEA
Shorts - ADI, KOSP
Potential day trades:
(From Briefing.com)
Gapping Down
APOL -5.7% (earnings, Merrill downgrade), FNM -4.4% (WSJ says co is directed to restate results after SEC review), SYMC -4.4% (to merge with VRTS), ABAX -15% (co ends relationship with Vedco, guides), GLDN -8%, VDSI -6.7% (guides), IPXL -5% (First Albany downgrade), NBIX -3.7% (SEPR gets final FDA approval for competing drug), FDX -2.8% (reports NovQ), GS -2.8% (reports NovQ), COCO -2.7%, FRO -2.4%, GOOG -1.3% (Gartner warns clients not to use Google; started with a Neutral at BofA Sec, tgt $158; Bloomberg.com story - Google May Fall as More Restrictions End on Selling IPO Shares).... Under $3: ICOR -12% (transfers listing to Nasdaq SmallCap market from Nasdaq National market), XOMA -6%.
Gapping Up
SEPR +13% (gets final FDA approval for Lunesta), ATVI +11% (guides higher), LONG +14% (IACI exercises warrant to buy 17.4 mln eLong shares), CNVX +21% (co and SRA announce collaboration), ISON +19% (says the marketing of explosive detector is on track), GG +11% (GLG announces takeover bid), VVUS +6.4% (gets FDA special protocol assessment), CVTX +5.7% (target raised to $35 from $29 at First Albany following positive trial results), NVDA +5% (target raised to $36 at Morgan Stanley), WYNN +3% (price target raised to $95 from $61 at Prudential), VRTS +2.6% (to merge with SYMC), OVTI +2.4% (started with a Buy at Jefferies; tgt $22), AAPL +1.3% (iPods are in short supply at retailers nationwide - WSJ; iTunes Music Store downloads top 200 mln songs)... Under $3: BPUR +26% (receives notice of Nasdaq listing requirements), EASY +8.4% (IL state lottery selects EasyLink to support operations), TGAL +7% (awarded patent, announces orders), ALTH +6.2% (licenses new cancer compund).
