Be sure to read Stephen Vita's post from yesterday. He wrote about buying leaders vs. laggards, smart money vs. dumb money by taking a look at the Commitments Of Traders and NYSE Member Reports, the mania around the IBD 100 list as well as highlighting some stocks.
MaoXian posted the transcript of Sunday's chat session. It was a small group but they covered some good material. I especially liked the discussion about the LIOX trade. It looks like Chud and I were joined at the hip on that trade.
Duru was in a writing mood this weekend. He has new missives on some potential implications of program trading, the steel bubble and he wonders where the next bubble(s) will grow.
Potential swing trades:
Longs - None until August
Shorts - None until August
Potential day trades:
(From Briefing.com)
Gapping Down
ALVR -19% (guides below consensus), ABRX -14% (cancels Friday's annual meeting), PLUG -10% (negative Barron's article), MERQ -5% (guides lower), PDG -3.7% (strike begins at its Zaldivar mine), TMIC -3.6%, RDWR -3.3% (extends Friday's 15% drop), DCX -2% (WSJ reports Chrysler to offer discount plan similar to GM's; also reports on warning rumor, which co is denying), RIMM -1.7%.
Gapping Up
BSX +8% (receives favorable court ruling on Ding patents), IDCC +18% (gets final award in Nokia arbitration), CEDC +11% (comes to terms with Polmos unions, share purchase to be inked next week), GTW +7.7% (positive Piper note), NFLD +6% (sees strength ahead of tomorrow's analyst meeting), IPIX +4.5% (extends 17% move on Friday), BP +2.4% (production beats expectations), NTMD +2% (Bidil pricing sharply higher than expected - FBR), WMT +1.8% (strong June comp guidance; OpCo upgrade), AMZN +1.7% (Legg Mason upgrade)... Under $3: BDCO +11% (crude oil extends Friday's rally), CHRD +6%.
Intraday Updates:
- 10:10 Looks like buyers are stepping into the market here. Watching FORD and MTLM
- 10:28 BEBE just hit the scanner. It's also getting close to a new high
- 10:45 The bum rush is on in CTTY again
