We've got another busy morning. How about that ITWO? I thought they were out of business! Anyway, the Nasdaq is just a hair away from 2200 and I can only imagine the number of stops the bears have set at that level. I won't be surprised to see some up-thrusts through that level. I may just watch until that level is cleanly broken...
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: SYNA -27% (also downgrades from Bear Stearns and First Albany), SYMC -4.3%, LOOK -18%, MUSE -15%, ADRX -15%, IRF -9% (also downgrades from Smith Barney and UBS), LEXR -9%, WEBX -8.6%, HOTT -8.5%, TSCM -5.5%, SAPE -5.3%, DSCM -5.3% (also, Delafield Hambrecht cuts to Sell), NUVA -4.2% (also Lehman downgrade), MGM -2.2%... Other News: APPX -6.2% (does not expect FDA approval on Ceftriaxone in near term), ISRG -4.2% (profit taking after 12% move yesterday), BEXP -3.5% (Harris Nesbitt downgrade), AEOS -1.7% (Lazard downgrade), MOT -1.4% (BofA downgrade).
Gapping Up
Gapping up on strong earnings/guidance: ITWO +55% (also CIBC upgrade), SWB +20% (up in sympathy: RGR +11%), MSTR +20% (also, judge dismisses BOBJ lawsuit), APLX +19%, JILL +16% (also Wells Fargo upgrade), WEN +12% (also announces new strategic plans), BOBJ +11% (also upgrades from Bear Stearns, First Albany), BHS +11%, WFMI +10%, MFE +8%, EDS +8%, PWAV +7%, NDAQ +5%, AZN +2.4%... Stem cells strong on report Sen Frist may support research funding bill: STEM +10%, VIAC +7.6%, ASTM +6%, GERN +4%... Other news: MNT +6.3% (gets FDA approvable letter; Piper upgrade), OVEN +5% (BWeek profile), STGN +3.8% (BWeek profile), RNAI +10% (co's drug profiled on PBS show Nova), SPN +10%, RD +2.6% (CSFB upgrade), NVMI +38%, FORD +2.4%.... Under $3: CKSW +25%, AATK +13%, MPET +10%.
Intraday Updates:
- 09:44 OPMR's catching a bid
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