It's looking like another lackluster day. Keep in mind that there's a Fed interest rate decision on November 1 so that may keep people on the sidelines for the next few days.
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: BIDU -12%, DRIV -20% (also multiple downgrades), AMLN -12% (also First Albany downgrade), APCC -11%, PRST -11%, USPI -10%, SRDX -9%, VDM -8.2%, APPB -6.6%, LSI -6.1%, GMR -5.9%, ACTI -5.6% (guides lower only), FOXH -5.3%, LIZ -5.2%, KSWS -5%, LPNT -4.7% (also Ryan Beck downgrade), ALA -4.4%, CRDN -4.1% (also FBR downgrade), WFR -3.6%, Other News: PPDI -13% (FDA rejects premature ejaculation drug), BCRX -4.4%, SNTO -4.3% (profit taking after 32% move yesterday), SIRF -4.8%, PSD -3.3% (announces offering), FRO -2.7%, GM -2.3% (accounting probe), SYMC -2.1%.
Gapping Up
Gapping up on strong earnings/guidance: ESRX +10%, MMUS +13%, AMKR +9%, ALDA +8%, OPWV +7.6%, TRID +7%, GT +6.5%, PSPT +5.7%, ARBA +5.3%, DIET +5%, COGT +4.4% (also upgrades from OpCo and JMP Securities), GW +3.9%, GSK +3.5%, PENN +3.4%, RDS.A +3.2%, IMCL +2.4%, VZ +2.1%, DOW +1.7%, GLW +1.7%, AET +1.6%, CFC +1.5%... Other News: NFLX +4.6% (First Albany upgrade), ORCC +3.8% (Mad Money mention), TRDO +2.8% (to explore strategic alternatives), CKFR +2.4% (Mad Money mention), RIMM +1.3% (RBC upgrade)... Bird flu stocks are higher on comments from GSK that it was accelerating preparations to supply bird flu vaccine in the event of a pandemic, according to Reuters: SVA +7.4%, NVAX +6.5%, HEB +4.1%, GNBT +3.2%... Under $3: CBMX +7% (extends yesterday's 62% move).
Intraday Updates:
- 09:27 Lifecell just keeps getting uglier. What a great short it would have been back when I charted it.
- 09:28 Greenspan's giving a speech at 11. That may cause a slow down in trading
- 09:39 BOT"s looking toppy... too bad there are no shares for me to borrow
- 10:00 even the mighty SIRF's getting hit today. It's down 9.5% and just broke its 50-day moving average
- 10:05 Somebody wants/needs in SNDK this morning...
- 11:22 Something's up (down!) in SKE today. They're supposed to be getting acquired for $65.50/share but it's tanking today. hmm....
- 1:18 The sellers just aren't letting up today. The Nasdaq looks like it's heading for a test of its 200-day moving average now.
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