Lots of longs again today. Things may be looking up for technology stocks now that the SOX has followed through on its big move early last week.
The next levels of interest on the Nasdaq are the 50-day moving average and 2100. The 50 just happens to be at 2104. Let the games begin...
P.S. This week's Carnival of the Capitalists is up.
Currently holding:
Long - URBN
Short - none
Looking for swing trade entries in:
Longs - BEBE, BSTE, CTMI, ENER, ERTS, HOTT, MERQ, MSTR, SKX, THQI, WITS
Shorts - MWV
Potential day trades:
(From Briefing.com)
Gapping Down
NVEC -12% (Cypress to sell MRAM unit), OMX -10.2% (CEO resigns; comments on internal investigation), MCIP -5.6% (to merge with Verizon; mkt not pleased at price), PLUS -4.3% (settles patent suit with ARBA), AIG -2.5% (gets new subpoenas from Spitzer), AH -2.3% (reports qtr; Goldman downgrade), GOOG -1.8% (Barron's mentions insiders selling).... Under $3: TGAL -13%
Gapping UpDSCO +19% (gets FDA approvable letter for Surfaxin), ENCY +15% (positive clinical data), TRRA +13%, FRD +10% (restate SepQ results), UBET +7.5% (to report results tonight), RTLX +7.1% (joint venture between Fujitsu and StoreNext bags new self-checkout customers), TASR +6.6% (announces orders), ALTI +5.2% (continues recent momentum), ARBA +5.2% (settles patent infringement litigation), RMBS +4.3% (co and NEC Electronics sign agreement; also wins venue dispute in lawsuits), ADSX +4.3% (co's DOC division ships electronic products to USDA), HDWR +3.4% (announces verdict in trial), FLEX +3.2% (co and Microsoft to market phones running Windows mobile), DISH +2.1% (recommended for purchase at SG Cowen).... Under $3: AVII +29% (patient suspected of having bird flu in Thailand), CDSS +14% (software chosen by Raytheon), VLGC +12% (says its assays can be used for HIV), XNVA +8.1% (Receives Orphan Drug Desigation in Japan), GNVC +8% (Needham upgrade).
I have to warn u there is a bearish divergence on this recent up move , this rally was being sold into, the qqq didnt follow it up . thats my 2 cents. be careful with being too aggressively long on this rally.
bernardt