There are a couple of event' worth noting today. Of course we have oil inventories being reported at 10:30. The other is Ben Bernanke speaking at noon but according to Briefing.com "his subject is pretty far removed from policy & may offer little unless he stumbles across some stray reporters." So that will likely be a non-event. Hopefully Maria Bartiromo won't be there. ;-)
As for the indices, the Nasdaq continues to be relatively weak. Yesterday the Dow and S&P 500 made new multi-year closing highs but the Nasdaq is mired beneath its 50-day moving average. It's about 2.5% off of its recent highs. Once again I'm wondering if the Naz will pull the other indices down or vice versa.
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: PLT -20% (also multiple downgrades), GNSS -15% (also multiple downgrades), OSUR -9.1% (guidance only, also Montgomery downgrade), CI -7.6%, ADBE -6% (also CIBC downgrade), AW -5.3%, CAPA -4.1%, TWTC -3.7%, EXP -3.3%, PG -3.2%, EDS -3.2%, TS -2.9%, STKL -1.6%, MMC -1.3%... Other News: NPSP -27% (FDA proposes new clinical trial for its PREOS drug; also multiple downgrades), BOL -8.8% (CDC report last night shows health issues worsen - BofA), MICC -5.1% (set to be bought by China Mobile, deal is blow for MICC - FT), PAAS -3.4%, BCRX -2.8%, PEIX -1.7% , DB -1.2% (announces mgmt changes).
Gapping Up
Gapping up on strong earnings/guidance: GRMN +14% (up in sympathy: SIRF +5%), MDRX +12.5%, PWAV +10.2% (also upgrades from Deutsche and First Albany), MVSN +9.6% (also OpCo upgrade), CTSH +8.9%, BRKS +8.5%, PWEI +6.7%, CBG +6% (also announces 3-for-1 split), MCGC +6.4%, HL +4%, WOLF +3.5%, QCOM +2.7% (guidance only), Q +2.3%... Other News: ADIC +45% (being acquired), ALGN +7.2%, SUPG +5% (up on MOGN news as SUPG is a partner), BDCO +4.9% (momentum), MOGN +3.6% (FDA approves Dacogen for injection), NVAX +3.6% (White House to unveil bird flu plan), ERS +3.4% (momentum), NTLI +3.1% (Mad Money mention), RYAAY +2.9% (bounces after month of weakness), VICL +2.2% (extends yesterday's 31% move), MOT +1.9% (on QCOM guidance; also BofA upgrade), CELG +1.7% (Mad Money mention), OVTI +1.4% (ThinkEquity upgrade)... Mining stocks are strong on higher gold prices: KRY +2.8%, CDE +2.2%, GG +2%, NXG +1.6%... Under $3: EAG +50% (lands million dollar deal with Las Vegas resort), DVW +4% (Merriman comments).
Disclaimer & How I use this list
