I did quite a bit of selling yesterday as the Nasdaq was sliding back under its 50-day moving average. It looks like Monday's move higher may have been a head-fake.
Currently holding:
Long - CPRT, PAAS, USU
Short - ASKJ, COGT, JUPM, PLMO, RSAS
Looking for swing trade entries in:
Longs - BEBE, BJ, CENX, CHS, FD, GMR, IFIN, MDRX
Shorts - AMZN, STT
Potential day trades:
(From Briefing.com)
Gapping Down
OSTK -4.4% (Q1 EPS lowered below consensus at Piper), CHIR -3.5% (restates 2004 pro-forma EPS; BofA says it's more extensive than estimated), AAPL -2.7% (extension of yesterday's 5.2% drop), ISLE -2.4% (CIBC downgrade), MSO -2.4% (NY Post says large investor is out of the stock), MCD -2% (CSFB downgrade), ORCL -1.6% (makes bid for RETK), VISG -4% (started with an Underperform at First Albany; tgt $3.80), IIG -3.8% (profit taking after 22% move yesterday), FRO -3.7% (extension of recent weakness), MAX -11% (co evaluates proposed reverse/forward split; subsequent deregistration contemplated).
Gapping Up
RETK +18.7% (ORCL makes $9 bid for co), XLNX +2.4% (upgraded at Smith Barney and Wachovia following guidance), AMEN +11.7%, GLK +8.5% (announces merger with Crompton), HLTH +7% (reports Q4), CMTL +5.7% (beats by $0.15; announces split), BOOM +5% (announces order), MECA +4.3% (Florida slot machine vote), WLDA +4.2% (contract with Air Canada), PACT +4%, AMKR +4% (RBC upgrade).... Under $3: STKR +18.2% (reports Q4), NERX +14.1%, GNSC +12.5% (co and Monsanto team up with USDA to map soybean genome), USEY +12% (discloses merger talks), MAXM +12%, LOUD +10.9% (O2 Germany signs with Nokia for mobile music solution powered by Loudeye), AEGN +7.8% (co and Biota sign flu development agreement), FUEL +5.4% (recent momentum).
