Here are charts of the Nasdaq and S&P 500. Note that both are now back above their 200 and 50-day moving averages. Just that quickly they're back into bull mode. The final hurdle is the downward sloping trendlines on each chart:
Stocks on my initial watchlist based on pre-market news are: QCOM, FLSH, AMGN, ABGX, DSW, GYMB, DOVP, AAPL, SHOO, URBN and ELOS...
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: MRH -21%, PEET -17% (also downgrades from Hambrecht and Roth), LSCP -12%, OVEN -12%, MCDTA -10%, STKL -8.3%, NTMD -7.3%, SWKS -7.2% (also Legg Mason downgrade), CECO -6.7%, CPN -6.3%, IMAX -5.5%, CMCSA -3.7%, CMCSK -3.5%, FLSH -3%, CELG -2.8%, WYNN -2.7%, SLE -1.1%... Other News: FMD -24% (receives notice from BofA seeking to avoid automatic annual renewal of its contract), IMCL -17% (down on AMGN data), IMOS -11% (RBC downgrade), ROST -5.3% (Oct sales), LNCR -5% (CMS will lower dispensing fees for inhalation drugs), HYTM -4.3% (stock offering), GDT -2.7% (Citigroup downgrade to sell), KYPH -2.6%, LXK -2.4% (comments in 10-Q).
Gapping Up
Retailers gapping up on Oct sales data/guidance: AEOS +8%, ANF +7.5%, WTSLA +3.8%, ANN +3.6%, URBN +3.5%, CHS +2.8%, CVS +2.5%, KSS +1.8%, COST +1%... Others gapping up on strong earnings/guidance: PCLN +18% (also Piper upgrade), QCOM +5.6% (also Citigroup upgrade; up in sympathy: NOK +1.3%), ELOS +16.5%, CKCM +22%, CRYP +16%, FMCN +15%, SBL +13% (also upgrades from Baird and TWP), TFSM +9%, NEW +6.4%, SCVL +4%, BDX +4.6%, SFCC +2.9%... Other News: ABGX +39% (positive clinical data, AMGN +3.1% on the news), LMIA +28% (signs $170 mln agreement with Gulfstream), HEB +17% (futher clinical data on bird flu), ONXX +9% (clinical data), SFA +7% (explores sale of co - NY Post), TMR +6.4% (data on gas well exploration), FCEL +5.6% (Sells 1.5 Megawatts of fuel cell stacks), XMSR +5.4% (Berstein upgrade), GGAL +5% (Mad Money mention), ZVXI +5% (extends yesterday's 90% move), VPHM +3.9% (momentum), NVAX +3.5%, MERQE +3.4% (bounces after 27% drop yesterday), TASR +3.4%, DVA +3.2%, ASML +3%, SIRI +1.7% (momentum), BOOM +1.6%, AAPL +1.4% (tgt upped to $66 at First Albany).
Intraday Updates:
- 09:55 Man, it's busy today. Almost feels like panic buying. I'm thinking this is shorts scrambling to cover combined with fund managers trying to make up for a lackluster year...
- 10:06 New highs on NTRI.
- 10:25 Indices are testing the lows of the day. Let's see if these gaps can hold...
Disclaimer & How I use this list
Do you think ADSK is on sale this a.m.?
Thanks,
Jim
"on sale" meaning this dip should be bought? I don't know.