Today is options expiration so no trading for me unless I see a really “unusual suspect”. As long-time readers know I don’t like to do much on the Thursday and Friday of expiration weeks — which answers this question which was emailed to me this morning:

I was curious to know if you traded CCBL yesterday? Very good dummy play, but it might not have been unusual enough to be even looked at. Did your scanner pick this up?

I did see it on my scanner yesterday. If it wasn’t expiration time I certainly would have tried it when it dropped below the 11:15 candle.

On another note, all traders should read the article about trading journals that I linked to yesterday. For a great example of a trader who keeps a very detailed journal take a look at these posts by TXTrader (it sure would be nice if one could easily search that blog and/or if it had categories!): Trading Journals: Heat Map and The Trading Day: Breaking It Down and Time Segmented P&L / Updated

Potential swing trades:

Longs - None

Shorts - None

Potential day trades:

(From Briefing.com)

Gapping Down

Gapping down on disappointing earnings/guidance: BEBE -5%, GPS -4.2%, SHRP -1.5%…. Other News: NWAC -5.3% (mechanic strike deadline looms), UTEK -14% (co says it is uncomfortable in confirming previous guidance; Merrill downgrade), DSCO -9% (provides Surfaxin update), EWEB -6%, CPN -5%, GROW -4.4%, ALY -3.6% (prices stock offering), SHPGY -3%, EFJI -2.7% (prices stock offering).

Gapping Up

Gapping up on strong earnings/guidance: CHINA +13%, ADSK +6.4%, MRVL +2%, BRCDE +3.6%… Other News: KO +2.3% (UBS upgrade), ENG +16%, VEXP +15%, NYER +8.2%, DPH +8% (Lehman upgrade), BLDP +6% (announces supply agreement), VRTX +5% (JP Morgan upgrade), MYOG +5% (extends yesterday’s 60% move), BCON +5%, TIVO +4% (speculation that Google’s stock offering may be used to buy TIVO), GEPT +3.5%…Stem cell stocks are higher on a positive Reuters report: STEM +8%, ASTM +6%, GERN +3.5%….  Under $3: CIEN +4.4%.

Intraday Updates:

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