Hmm, is that a cup & handle I see on the Nasdaq chart? And the breakout/pivot point is right at the 2100 resistance level. That’s definitely an area to keep an eye on…

Potential swing trades:

Longs - CECO

Shorts - None

Potential day trades:

(From Briefing.com)

Gapping Down (potential shorts)

Gapping down on lowered guidance: NUE -3.3%, MERX -5.4% (down in sympathy: TTMI -3.2%), HOTT -5%… Other News: INMD -5.2%, SPNC -5%, NWAC -3.3%, BMET -3.2% (RBC downgrade), ALVR -3% (names new C.E.O.), MYGN -3%, CNET -3% (Needham downgrade), RRGB -1.7% (KeyBanc downgrade).

Gapping Up (potential longs)

BAMM +16% (announces Dutch auction), KR +6.2% (reports AprQ, beats by $0.05), MYG +5% (WSJ says other firms may be interested in bidding for MYG), UCL +4% (CEO to make Unocal offer - FT), LEN +4% (reports MayQ, beats by $0.24), COGN +2.9% (Smith Barney upgrade), GPRO +2.9% (Baird upgrade), CELG +2.9% (FDA grants priority review for Revlimid), WYNN +2.5% (started with a Buy at Jefferies; tgt $68.50), EXTR +9.5%, CYTO +10% (clinical data), VPHM +5% (extends 250% move since May 1), VCLK +4% (ups Y05 outlook), IIJI +4% (retains recent volatility), PMCS +4% (Lehman upgrade), FDS +2.3% (reports in-line MayQ), TWX +1.3% (Mad Money mention)… Under $3: GNSC +21% (to be acquired by Clinical Data), GLGS +8%.

Intraday Updates:

  • 09:38 BLUD is showing strength early.

  • 09:41 Watching OSTK and CRM.

  • 10:03 Watching this IPO, NRGP. which is in the propane supply business

  • 10:22 SNDA is surging

  • 2:11 OTIV being picked up as a sympathy play to CTTY

Disclaimer & How I use this list