Isn't that a great illustration above? That's the artwork for the cover story of the current issue of 'The Economist' entitled "Danger time for America". (via The Big Picture) I haven't actually read the article yet but it looks like a very interesting read.
As for today's market, I'm not sure if I'm going to trade today. I'm still itching to play the short side but even yesterday it was a challenge for me to find stocks that participated in the drop. Maybe I'll just take a four day weekend. I'll decide after 10:15 or so.
P.S. I won't even get into the historical bad luck I've had on Friday the 13th. I got hit by a car when I was 8 years old on this day, ran into a wall on a mini-bike a few years later... :-)
Potential swing trades:
See one of the recent 'Chart Reading' posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
TYC -8% (guides lower; co to split into 3 units), IDWK -5.9% (stock offering), MAC -5.2% (prices 9.5 mln share offering at $69.50; also to acquire mall in Oregon), AMD -2.6% (Deutsche downgrades to Sell), RHAT -2.1%, RMBS -2.1% (profit taking after recent run), NTAP -2.1% (profit taking after 13% run in 2 days), UNH -1.9% (Goldman reinstates UNH with an Underperform), SNDK -1.9% (Bear Stearns downgrade), ZGEN -1.8%, SI -1.3% (Lehman downgrade), BOBJ -1.2%, HD -1% (former employee discusses firing on CNBC)... Semi cap equipment stocks weak on Samsung guidance: AMAT -1.6%, LRCX -1.1%, KLAC -1%... Under $3: LU -7.4% (guides lower; down in sympathy: NT -4.8%), CURE -89%, GNLBD -15% (FDA asks for more data).
Gapping Up
ANTP +34% (reports NovQ), DRAX +10% (receives FDA approval), NKTR +6.6% (Pfizer is buying rights to inhaled insulin from SNY; NKTR developed the delivery device), VISGD +4.8% (boutique firm upgrade; IDNX +6% up in sympathy), GOLD +4.7% (gold prices may challenge recent 25 yr highs; also AU +2.2%), NWRE +4.4% (pre-reports Q4 revs; tgt raised to $33 at boutique firm), STX +3.9% (Goldman upgrade), CNXT +3.3% (extends momentum from +44% in 2 weeks), DSTI +3% (extends yesterday's 15% move), ABS +2.8% (to restart talks with potential buyers - NY Post), HANS +2% (Citigroup raised their HANS tgt to $130), SIRI +1.8% (Stifel upgrade), GM +1.6% (co expects improved financial performance in 2006)... Mad Money mentions: RHEO +13% (TLCV +7% owns 51% of RHEO), JDSU +6.5%, GLW +1%... Under $3: HDTV +7.3% (private placement), ZL +5.4%.
Intraday Updates:
- 10:32 OK, I'm clearly not meant to trade today. My internet (dis)connection is real spotty today. I'll take that as a sign that i should go with my original plan and take the day off.
Disclaimer & How I use this list
Mike,
It's OK to take the day off from trading but by all means, stay off the street and stay away from motorcycles. Maybe just sit at home, get your favorite DVDs out and sip some courvoisier.
A pretty tense way to make a living but at leat you are in control. All the best to all self made successes.
Click on my name if you would like to see how I make the grade.
Greatest of respect to all self motivated successes.
Cheers, Mike King.
Just wanted to let you know I think your blog is wonderful. Keep up the good work. I really enjoy reading.
www.mauitrader.blogspot.com