Don't you just love earnings season? The market's set to take back the bulk of yesterday's gains. All these gaps are the reason why I avoid swing trading during this time. Chop, chop, chop...
Potential swing trades:
Longs - None until August (after the earnings flood)
Shorts - None until August (after the earnings flood)
Potential day trades:
(From Briefing.com)
Gapping Down
Gapping down on disappointing earnings/guidance: INTC -5.7% (also JP Morgan downgrade; down in sympathy: TXN -2.1%, LSI -2.4%, BRCM -2%, AMD -1.3%), YHOO -10% (down in sympathy: AMZN, -2%, EBAY -1.6%, GOOG -1.5%, MIVA -5.7%), EK -10.5%, GM -4.7%, NVLS -2.6% (down in sympathy: LRCX -2.6%, AMAT -1.8%, KLAC -1.6%), GIGM -11%, PHTNE -10%, PLXT -8%, MDCO -7%, NABI -4.4%, TASR -3.8%, JNPR -3.3%, LU -2.7%, MOT -1% (down in sympathy: NOK -2.3%, ERICY -2.2%)... Other News: MYG -7.6% (China's Haier to drop out of Maytag bidding - WSJ), CAFE -3% (profit taking after recent momentum), CAFEW -4.6% (same), SOHU -5.8% (cut to Sell at Deustche, tgt $19), RD -2.3%, FARO -2.2% (loses patent case), SNDK -1.9%, ERTS -1.8% (Smith Barney downgrade)... Under $3: TGAL -16%.
Gapping Up
Gapping up on strong earnings/guidance: AMGN +9% (also Piper upgrade), RITT +29%, USAP +8%, AMR +4%, CAL +5.7%, SMIT +5%, HON +1.6%, PFE +1.6%... Other News: SPIR +10% (momentum from yesterday's 51% move), DCEL +7% (started with an Overweight at JP Morgan), DHB +5.6% (gets US Army order), DAL +5% (names new CFO), TUNE +5%, IDNX +4% (awarded contracts from California law enforcement), GIGA +3% (momentum from yesterday's 28% move)... Under $3: ABRX +20% (momentum from yesterday's 19% move).
Intraday Updates:
