It's looking like another choppy, narrow range day. And now that this range is so clearly defined any many people have been lulled to sleep this is a great time for a move out of the range. Perhaps month/quarter-end manipulation 'adjustments' by the big funds will help things along.
Potential swing trades:
See one of the recent 'Chart Reading' posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
RIMM -5.5% (reports AugQ; downgraded to Sell at Deutsche), CYPB -50% (negative phase III trial results), AGP -43% (guides significantly lower; multiple downgrades), ABLE -12% (released 10K last night), MEK -10% (guides slightly lower on hurricane impact), FRX -8% (in sympathy with CYPB, Morgan Stanley and TWP downgrades), GCT -3% (prices offering), WLL -2.2% (prices offering), AAUK -2.2%, GDT -2.1% (NY Times says co's case may involve crime inquiry), RECN -1.6% (reports AugQ), OMNI -7% (profit taking after recent move).
Gapping Up
RHAT +17% (reports AugQ, guides higher; upgrades from SunTrust and UBS), RNAI +16% (enters alliance with Allergan), IDXC +23% (to be acquired by GE Healthcare), NGEN +12%, CMN +11% (reports JulQ), NGAS +6% (momentum), SPPI +5% (receives FDA approval), ABP +5% (oil/gas play continues recent rally, see recent profile), SAPE +4.6%, ET +4% (to Acquire BrownCo for $1.6 bln), THE +3.4%, HLTH +3.3% (WBMD IPO prices strongly), NKTR +2.7% (to collaborate with Baxter), RMBS +2.5% (signs patent license agreement with Renesas), FNM +2.3% (analysts defend stock after big fall yesterday), PEP +2.3% (beats by $0.05; guides FY05 above consensus)... Under $3: CTIC +9% (extends recent momentum), MEMY +8% (Insider buying highlighted in Barron's, continues recent momentum), DPH +5%.
Intraday Updates:
- 09:47 This GLP IPO sure is well timed. (The company, which is a wholesale distributor of distillates, gasoline, and residual oil and bunker fuel...)
- 09:57 CRAI is getting crushed... now if I can just get a little bounce to short into...
- 10:23 NTES going ballistic once again
- 10:25 Nice recovery on the indices now as oil hits new session lows
Disclaimer & How I use this list
Hey Mike,
Hope you caught my blog last night 9/28
Feel the bull is back in full force.
Enjoy ur stuff :)
tony
Tony,
I don't think I've ever seen your blog. Seems like I need to log in to Passpost in order to view it, so I'll probably never see it...
Hi Mike,
I have a suggestion for your design. I think it would be better if you only put external links in the gray boxes and leave the blank spaces in between for your writings. (Preferably with plane background)
just my 2 cents..
Looks like a nice break out the range to the upside today. Lot's of folks are chalking it up to "window dressing" but my opinion is the why doesn't really matter. The action is the important thing. What do you think?
I agree with you. We never really know the real reason(s) behind moves anyway.