After yesterday's stalemate of a day this little rally attempt is starting to look like a dead cat bounce to me. We really need some increased upside volume for this bounce to stick. Right now I'm thinking that I'll use a break of yesterday's range to define which direction I'll trade -- long above yesterday's highs and short beneath yesterday's lows...
Here's a look at the Nasdaq chart:
Potential swing trades:
See one of the recent 'Chart Reading' posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
TASR -9% (SEC widens probe), ENDP -8.4% (secondary offering), MOVI -6.4% (suspends dividend), OMNI -6% (profit taking after large move), BSX -3% (Merrill downgrade), DNDN -2.9% (Cramer negative on it), TOT -1.9% (JP Morgan downgrade), NOK -1.6%, NEM -1.2%.
Gapping Up
Mad Money Mentions: COLY +11%, PEC +8.5%, JDSU +4%.... Other News: NAPS +9.4% (in sympathy with Openwave acquisiiton of Musiwave), LTXX +9% (Lehman upgrade), RNAI +13% (granted broad patent in UK), ULBI +7% (higher contract), GLGC +7% (announces agreement with Pfizer), PDC +5.5%, NFLX +4% (Bear Stearns upgrade), ELN +2.4% (submits supplemental license application for Tysabri), ANF +2.2% (CSFB upgrade), LEN +2% (reports AugQ), SNDK +1.1% (unveils new memory card, as expected).... Under $3: SIGA +37% (Army contract), APRS +13% (to be acquired).
Intraday Updates:
- 09:32 NTES is continuing what it started yesterday. Next stop $100???
- 10:00 Seems like the market needs some kind of catalyst here. QQQQ is flat-lining, Nasdaq A/D is 10/14... oh wait, consumer confidence and new home sales numbers just came out... as did some sellers... but it's still early
- 10:36 Zzzzz.... I'm ready to call it a day.
Disclaimer & How I use this list
Hey Mike,
You got your trade, but this index won't break 2114 ........ so far!
Tony
The index has got plenty to make up if it wants to go bullish. It has to erase today's loss and break yesterday's high in one day. Else, as expected, it's a short