I've updated last night's post in response to some questions & comments.
It looks like good reasons to tread cautiously today (from Briefing.com):
S&P futures vs fair value: -6.8. Nasdaq futures vs fair value: -9.2.Futures versus fair value are signaling a negative start for stocks as another batch of strong earnings reports take a back seat to more interest rate uncertainty. Investors are showing a sense of reserve following an unexpected rate hike by China's central bank which creates concerns about slower, global economic growth. Upcoming testimony by Fed Chairman Bernanke at 10:00 ET, which could shed some light on prospects for monetary policy, is also underpinning some early hesitancy on the part of buyers.
I'm looking for shorts in some of the commodities stocks that have been running like mad. Top of my list is TIE.
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: FORD -39%, CTLM -20%, ISSC -21%, OVRL -14%, IVIS -14%, ORCT -11%, ARBA -9.6%, BOBJ -10%, FALC -9.6%, ANDW -8.5%, XMSR -7% (also discloses FCC and FTC letters; down in sympathy: SIRI -2.5%), VDSI -6.2%, SNN -6.1%, BOOM -5.7%, ESRX -5.5%, ALA -5.4% (down in sympathy: LU -3.1%), FIC -4.7%, FHRX -4.6% (also Piper downgrade), ASMI -3.8%, AMLN -3.4%, MRO -3.2%, RBAK -3.2%, SI -2.9%, SIMG -2.9%, ABB -2.8%, XOM -2.3%... Other News: CRXL -5.1% (co provides strategy update), AET -4.2% (CFO to retire), DCX -4%, ERS -3.4%, TS -3.3%, FRO -3%, ANDE -2.8% (Cramer names new ethanol plays, sounded like old names had played out, also PEIX -2.6%), HON -2.9% (JP Morgan downgrade), TASR -2.6%, TIE -2.2%, TZOO -2.2%... Mining stocks are weak: AAUK -4.3%, BHP -4.2%, RTP -3.5%, AUY -3.2%, PD -3%, NXG -2.8%... Under $3: VTSS -25% (says financial statements should not be relied upon), EZM -6.3%Gapping Up
Gapping up on strong earnings/guidance: WRLS +20%, DP +19.5%, RMKR +14%, NTGR +13% (also BWS upgrade), AMKR +12%, FNF +13.1% (co also sets up group to study restructuring), NYER +9%, MKSI +7.7%, SPAR +7.5%, CELG +5%, SOHU +5.7% (also JP Morgan upgrade), QDEL +5.5%, STTS +4.9%, KRON +3.8% (also Baird upgrade), RVSN +3.7%, GSK +3.5% (C.E.O. says "eyes open" to opportunities, no comment on interest in Pfizer OTC business - Reuters), PTRY +3.4%, KOMG +3.4%, ASVI +3%, LYO +3%, GSIC +3%, ARQL +2.8%, CRDN +2.6%, CMCSA +2.3%, LSI +1.3%, XLNX +1.3% (also Baird upgrade), HET +1%... Other News: ABBI +9% (announces co-promotion agreement with AZN), TMG +10.4% (Morgan Stanley Capital makes $10.50 bid for co), PDII +7.7%, SVA +4%, APOL +3.9% (UBS upgrade), COCO +3.4% (UBS upgrade), BRCD +2.2% (Mad Money mention), CELL +2.1% (extends momentum)... Under $3: EGHT +6% (inks deal with CompUSA).
Disclaimer & How I use this list
