It's month end today so the million dollar question is do they mark 'em up or continue to snatch profits? I won't be surprised to see some mark-ups, especially late in the day but I still think there's more downside to come over the next few days. I'm looking at the 2,200 area for potential support on the Nasdaq.
Keep in mind that we get the oil inventories report at 10:30 today.
Potential swing trades:
See one of the recent 'Chart Reading' posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
TIF -4.8% (reports OctQ), NVLS -4% (provides mid-qtr update), QSII -4% (Piper downgrade), TM -2.6%, EPD -2.5% (prices offering), ATVI -2.2% (extends recent fall), MTU -1.7%, AEOS -1.6% (boutique firm downgrade), SNDA -1.5%, YHOO -1.3% (UBS downgrade), CHS -1.3% (reports OctQ)... Gold/mining stocks are weak on lower gold prices: AAUK -2.7%, NEM -1.5%.
Gapping Up
BCRX +15% (Roche collaboration), DBRN +13% (reports OctQ, guides higher), OSUR +7.2% (launches HIV test in Mexico; extends yesterday's 11% rally), CETV +5.2% (Mad Money mention), PANC +2.6% (presents today at life sciences conference), BOBJ +4.5% (extends recent rally), GNW +3.7% (added to the S&P 500), XING +3.6% (Palm and a XING subsidiary launches Palm Treo 650 in China), TIVO +3.5% (bounces after late sell-off on earnings), CAI +2.8% (Mad Money mention), GLNG +2.4% (Stanford Group upgrade), CCI +1.9% (Mad Money mention), ATYT +1.5% (positive Goldman note), APPX +1.1% (receives FDA approval)... Under $3: PRGX +22% (continues momentum), EMA +21% (chosen by Homeland Dec Dept for border security), ISV +13% (clinical data), CPN +7% (bounces after 57% drop yesterday), ASTM +7% (to initiate clinical trial).
Intraday Updates:
- 10:54 This is looking a lot like yesterday morning with all the sideways action in the indices. I'm happily in cash waiting for a break of the opening range.
- 11:37 PALM is doing well thanks to RIMM news
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