It was a really choppy day yesterday until 2:00 when the market moved decisively higher. The Dow and S&P have almost recouped all of Tuesday's losses and are back above their 50-day moving averages. Similarly, the BKX is back above its 200-day moving average. All of the indices are flashing stochastic buy signals so we may be in for a bit of a follow-through on this rebound.
Long - AGP, PARL, STZ
Short - ASKJ
Looking for swing trade entries in:
Longs - ACE, ADBE, ASCL, BYD, CCK, INFY, LRW, MFLX, PRU, THQI, TSCO
Shorts - None
Potential day trades:
(From Briefing.com)
Gapping Down
Gapping down on disappointing earnings/guidance: BCSI -8.8%, SRNA -4.9%, MCIP -3.6%, TKLC -3.5%.... Other News: TIVO -3.8% (Apple's commentary suggests co has no interest in acquiring TIVO - Smith Barney).
Gapping Up
SYNA +15% (confirms that its interface solutions are being used in new iPods), GENR +5.6% (announces positive preliminary data for Evizon), IDGR +4.8% (follows 8% move yesterday on strong earnings), APPX +4% (Abraxane clincal data), MAY +2.6% (co and Federated move closer to deal -- WSJ), ASKJ +2.4% (AmTech upgrade; positive TWP note), OSTK +2% (started with a Buy at Stanford; tgt $64; stock repurchase plan).... Gapping up on strong earnings/guidance: MRVL +3.9%, MCDTA +3.8% (also Piper upgrade), KSS +2.4% (also Wm Blair upgrade), ORCI +15%, SUPG +3.3%, JMDT +1.2%.... Under $3: ANCC +12.3% (receives $1 mln in GSM/GPRS orders), HAXS +9%.
