There are only shorts on the swing list today but don't take that to mean that I'm necessarily bearish right now. It's just that I don't see any longs that I'd initiate at this juncture. Most of these shorts made bearish engulfing patterns yesterday as well as giving stochastic sell signals. They are also bumping up against a declining long term group of MMAs. Here's a chart of ACXM:
Looking for swing trade entries in:
Longs - none
Shorts - ACXM, AIG, APPX, RIO, XOM
Potential day trades:
(From Briefing.com)
Gapping Down (shorts)
NAVR -13% (postpones Q4, FY05 results), EASI -12% (reports AprQ), VRTX -6% (announces secondary offering), UNTD -5%, ICOS -4.6% (extends yesterday's 4% drop), SYMM -4.3% (announces convertible offering), VDSI -4% (Wedbush downgrade), ANSI -3.9% (UBS downgrade), HOV -3.8% (reports AprQ), FCS -3.4% (guides Q2 revs lower), TSA -3%, AFFX -2.6% (to acquire ParAllele BioScience), FRO -2.5% (WSJ mentions co; shorts expect tankers to take on more water), CMCSA -1.6%.... Under $3: LJPC -5% (profit taking after 100% move yesterday)
Gapping Up (longs)
SCHS +21% (to be acquired by Bain Capital), MDTL +17% (C.E.O. appears on CNBC), GOOG +2.4% (target raised to $350 at CSFB), ISON +12% (announces first sales of 300mm large-diameter silicon wafers), DRRX +11% (continues recent momentum), ASIA +11% (extends 7% move yesterday), DRAM +9.7% (extends 28% move yesterday), IIJI +8.6% (extends 28% move yesterday), ORCT +7.5% (expands Japan network buildout), CYTO +7% (clinical data), IPII +6.5% (extends 40% move over last 2 sessions), XIDE +5.9% (amends debt agreements), DEPO +4.5% (co and Biovail announce Canadian regulatory approval of Glumetza), TIBX +4.4%, GEOI +4.1% (extends 22% move over last 2 sessions), BMRN +3.1% (FDA grants marketing approval for Naglazyme)... Under $3: INSM +18% (reports positive results from SomatoKine trial), TXCC +6.1% (target raised to $3 at Stanford Group), CHINA +6%.
Intraday Updates:
- 09:30 BOOM is running again. Looks like it really wants to tag 50
- 09:45 CHINA along with a host of other Asian plays (CHNR, ASIA, PCNT, REDF, IIJI) are strong
- 09:47 ThinkEquity just slapped a $7 target on the $1.80 TWAV (via Briefing). This should be interesting
- 09:52 ISON and OIIM showing a lot of strength
- 10:05 ADTN just popped up on the scanner. It's up about 8% on no news that I can find. Market's really catching a bid right here too. Obviously I'm favoring longs right now.
- 10:13 Looks like the Nasdaq is on its way to the wall at 2100. Brace yourselves. ;-)
- 10:16 WSTL and MCDTA just hit the scanner
- 10:21 SGTL and PWAV just hit the scanner. Now if we could just get a little consolidation so I can buy some of these bad boys
- 10:51 Looks like SIFY is tagging along with the Asia plays
- 10:56 OSTK's running
- 11:52 Well I made some purchases during that 10:45 - 11:00 pullback (probably too many) but they all are stalled out. I'm a little concerned about the Naz stalling out here, close to 2100, but I'll try to hang on to the longs & see what happens.
- 12:22 The scanner just picked up IPIX which is rising from the dead.
- 13:29 TAYD and BTHS just popped higher on news of a 6.0 earthquake in Taiwan. May be worth keeping an eye on them even though a 6.0 should not be that big of a deal
- 14:00 they're buying these beaten down internets today. Check out ECST and INCX
- 14:15 Briefing just mentioned NINE, a recent IPO as a China play
- 14:57 They've been selling 'em pretty hard since 2:00, let's see if we can get a 3:00 reversal. It's not looking promising though
Chart request VIA. At the opposite end of day trading.....I'm looking at a monthly chart of VIA back to 1992. Looks ominous to me. Your opinion please.