Aside from the gappers it's pretty quiet this morning and the futures are basically flat. I'm not seeing many swing setups that I like but given the stochastic on both the Nasdaq and S&P I'd prefer either play the short side or stay in cash.
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: MNTG -22%, AIRN -12.6%, IFOX -8.6% (also Roth downgrades to Sell), IOTN -7.3%, TGB -5.2%, DISH -3.3%, AIG -2.3%, URBN -1.4%, RIO -1.3%... Other News: BSTE -12% (files 10-Q which suggests further delays in stroke possible - TWP), MERX -10.4% (announces $60 mln convertible offering), JDSU -6.2% (announces $375 mln convertible offering), AMCC -5.1% (being dropped from S&P 500), NIPNY -4.9%, TECD -3% (ests cut at BofA), UNH -2.5% (discloses informal SEC inquiry), TM -2.2%, LRCX -2% (AmTech downgrades to Sell), SYT -1.6%.
Gapping Up
Gapping up on strong earnings/guidance: MOVI +61% (up in sympathy: BBI +7.3%), ZOLT +23%, IFNY +15%, TOPT +12%, ARXX +11% (also Deutsche upgrade), IMH +9.5%, GIGM +7%, LMIA +5.2%, BVF +4%, DCEL +3.4%, NWS +2.8%... Other News: CSPLF +58% (Petro-Canada to make bid for co), ESCL +11.6% (bounces after recent sell-off), CYPB +10% (Jefferies upgrade), SUF +8.2% (announces progress on Sonocracking project), CUP +6.3% (extends yesterday's 18% move), BIDU +5.6% (launches its own user-generated encylcopedia -- FT; also extends yesterday's big move), NANO +5%, MGPI +4.9% (profiled in New America Section of IBD), AZR +3.2% (receives increased offer from Columbia), TEVA +2.9% (Pru defends stock after 12.5% drop yesterday), IIJI +2.6%, PEIX +2.4%, RTP +2.1%, RIMM +2.1% (to launch BlackBerry service in China), BMD +2% (extends recent move), JNJ +1.7% (BofA upgrade), BHP +1.7%, HANS +1.5% (momentum)..
Disclaimer & How I use this list
