We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.
Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...
Potential swing trades:
See one of the recent 'Chart Reading' posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
ACN -6.6% (reports FebQ; Needham downgrade), RHAT -3.7% (reports FebQ), BEXP -7% (Harris Nesbitt downgrade; lowers tgt to $7), OVTI -3.3% (Piper downgrade), ARNA -2.7% (updates its clinical program), PAYX -2.1% (reports FebQ), GM -2% (files 10-K; some concerned with language regarding GMAC sale), CAT -1.8% (UBS downgrade), CCL -1.5%, SNDK -1.3% (UBS makes cautious comments), FDRY -1.2% (JMP Sec downgrade)... Under $3: TERNE -8.2% (gets Nasdaq notice, may be delisted), MAMA -3.4%.
Gapping Up
NGEN +26% (receives 510k clearance for StatusFirst), LEA +12.6% (gets bank loans, restructures Europe unit, suspends dividend), LANV +17% (reports JanQ), IMH +10% (raises dividend by 25%), KIM +4.8% (to be added to S&P 500), FORD +4.7% (extends momentum, stock up 32% in the last week), IDIX +4.5% (announces licensing of Valopicitabine by Novartis), AMTD +4.4% (guides higher; up in sympathy: ET +2.5%), BXP +4.3% (to be added to S&P 500), SUNW +4% (Morgan Stanley upgrade), OO +3.8% (Mad Money mention), ENCY +3.6% (continues to climb following Monday's massive sell-off), KOPN +3.2% (bounces after 7% drop yesterday), STLD +3.1% (upgraded to Aggressive Buy at Keybanc, $75 tgt), TIBX +3% (reports FebQ), GNBT +3%, VOD +2.6%, SINA +2.1%, NEW +2.1%, BOBJ +1.8%, MMM +1.4% (broker upgrade)... Under $3: WAVX +9.4%, BWEB +8%, BCON +6.1% (delivers demo system in NY), MHA +5.8%, NXXI +3.4%.
Disclaimer & How I use this list
