Well that was a short visit above 1200 and the 200-day moving average for the S&P 500. So once again I'm more bearish than bullish on that index.
Although it seems like the oil inventory report isn't causing as much havoc as it has in recent weeks I'll still be waiting until after it is released at 10:30 today before I make any moves.
Potential swing trades:
See one of the recent 'Chart Reading' posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
Gapping down on disappointing earnings/guidance: GMTN -27% (also Piper downgrade), VASC -24%, FLEX -18% (also CSFB downgrade), AMZN -10.5% (also downgrades from Citigroup and Deutsche), PFCB -7.5%, FBR -7.4%, CVTX -7.3% (also says heart disease drug fails to pass review in Europe), NTRI -6.8%, PHRM -6.8% (also downgrades from JP Morgan and Morgan Stanley), FEIC -6.6%, ECA -5.8%, ISSX -4.1%, GRMN -3.7%, BA -2.8%... Other News: DRL -23% (SEC investigation; to delay amended 10-K; slashes dividend), GSIC -17% (postpones earnings release, guides below consensus), IPAR -8.5% (prices offering at $15.50/sh), ENER -5% (files for $300 mln mixed shelf), ESIO -4.2% (CFO resigns), XL -4.1%... Some medical device makers receive subpoenas: GDT -2.4%, MDT -2.1%.
Gapping Up
Gapping up on strong earnings/guidance: SNTO +39%, ISRG +28%, SIMG +15%, FFIV +15%, INSP +12%, SCSS +8.6% (also BB&T upgrade), AV +8%, SSTI +7.4%, IRIX +6%, RFMD +4.1%, ADP +2%... Other News: BOT +5.6% (to report Q3 on Friday), SPIR +4.8% (receives NIH grant), PCU +3% (Mad Money mention), ILSE +2.9% (extends yesterday's 16% move), MU +2.3%, BP +1.4% (analyst upgrade), IDIX +1.4% (prices offering), BIDU +1.2% (trades higher ahead of Q3 report tonight)... Small cap bird flu stocks moving again: HEB +4.4%, GNBT +7.5%... Under $3: CBMX +43% (launches comprehensive microarray which can detect flu strains, including bird flu), AATK +9%.
Intraday Updates:
- 09:46 We've got a horse race in INSP today. I've seen at least two downgrades to 'sell', one upgrade to 'outperform' and one upgrade to 'buy'. I'll play it either way but for now it's just going sideways...
- 09:50 GOOG's attacking $350
- 10:09 S&P's approaching its 200 DMA again...
- 10:10 Nice pop in AVID as it hits the Golden Goose scan
- 11:23 ANTP is back from the dead
Disclaimer & How I use this list
Do you actually read the oil inventory report or just wait for its impact to be felt before you start trading? Do you read any other economic reports?
Scott,
No, I don't read any economic reports. I do read the headlines (via Briefing.com) but I just react to how the market reacts to any report. Those reactions are often contrary to what one would think so I just let the market do the interpretations.
Mike,
Does NFLX look like a good short or put candidate here? I appreciate your opinion.
Thanks
Jim