The QQQQ looks like it's ready to reverse its 3-day slide this morning. It's trading just a couple of cents below yesterday's high as I type this. A break of that high on it and the Nasdaq could cause a rush of buying from folks who are afraid of missing the next leg up.
I was surprised to have so many long candidates pop up in my scans last night. I'd prefer to see reversal candles on the indices but perhaps some of these stocks will lead the way...
Potential swing trades:
Longs: AX, BBY, BRCM, CDIS, CKCM, CWTR, DNA, GOOG, NDAQ, OCR, PDS
Shorts: COO
See one of the recent 'Chart Reading' posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
RIGL -61% (negative R112 allergy data; multiple downgrades), NOVN -17% (FDA staff says attention deficit disorder skin patch not safe enough; also multiple downgrade; SHPGY -1%), CPN -12% (faces increased pressure from dozens of hedge funds - WSJ), CNVR -10% (reports Q3), FLIR -7% (broker downgrade), CRXL -5.5% (buys vaccine maker Berna for $449 mln), VOCLD -3.3%, AAUK -1.6%, GNW -1.3% (GE to sell 38 mln GNW shares when GNW joins S&P 500 today- WSJ)... Retailers down on disappointing Nov sales data: WLSN -21%, AEOS -7.2% (also CIBC downgrade), PIR -7%, JOSB -6% (also Ryan Beck downgrade), COST -2.8% (also KeyBanc downgrade), PSUN -3.6%, KSS -1%, BEBE -1%.
Gapping Up
PWEI +23% (guides Q4 higher), LMS +13% (raises Q4 guidance), DECK +11% (Mad Money mention; Cramer had considered it a sell but now a buy; short squeeze), PTRY +7% (reports SepQ), MBT +11%, OVTI +4.3% (co reports tonight), BIDU +3%, CMED +2.8% (bounces after 9% drop yesterday), IIJI +2.8% (momentum), SNPS +2.8% (reports OctQ), GILTF +2.5%, V +2.2% (in sympathy with WMG earnings), F +2%, ING +2%, LLY+1.4% (Mad Money mention), EBAY +1.1% (Skype launches service)... Retailers trading higher on strong Nov sales data: CHRS +4.3%, WTSLA +2.2%, ARO +1.7%, ANF +1.1%... Semis are strong on BRCM comments: XLNX +3.6%, ONNN +3.6%, BRCM +2.1% (sees big chip demand from digital devices - Reuters; Mad Money mention), RMBS +2%... Under $3: ONT +24% (co and Skype announce beta version of Skype 2.0), PRGX +5.5%, JDSU +2.4% (shareholders vote today on reverse split).
Intraday Updates:
- 09:53 New 52 week high for the SOX
- 10:25 Stalling out a bit here as the S&P and Dow struggle at yesterday's highs. There's a Natural Gas report due out in 5 minutes...
Disclaimer & How I use this list
Nice action in CUTR and CTRN so far this AM.
CTRN is killing me! :-) I got shook out in my long term account around $16.50 Argh!!!
CTRN is still off the radar screen for most institutions as it is relatively thinly traded -something which has likely caused all the gaps on the stock chart. Their same store sales comps are incredible. They still have 4 stores closed due to hurricane damage and their sales are still exploding. They target a specific segment of the retail market and they do it very well. No other retailer that I'm aware of really hits their segment of the market so they don't have direct competition. I bought this for my fiance's IRA and decided to just hang on through the market gyrations. Some of the biggest winners down through the years have been clothing and accesories retailers - Gap, Chico's, Coach, etc. Interestingly, I saw that CTRN has snuck up into the top 15 in IBD's top 100 list. I wish IBD wouldn't mention it because I'd like the opportunity to accumulate more shares.
And here you go telling the whole world the story b4 you get all of your shares! :-)