The futures bounced a bit post-PPI but they've fallen back a bit. Right now the S&P futures are still a couple of points below fair value but the QQQQ is actually up a couple of cents. I really don't want to initiate shorts with the market so extended so if we don't get some strength it may be another do-nothing day for me.
Potential swing trades:
See one of the recent 'Chart Reading' posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
JBL -17.5% (guides lower), TUES -13% (guides lower), CRXL -5.4% (extends recent slide), DIGE -4.1%, CSR -4.1% (extends recent slide), SYT -3.5% (same), EGY -3.3% (C.E.O. insider sales), RCL -3.2% (extends recent slide), TIE -3.2% (extends yesterday's 9% sell off), QGEN -3%, GRP -3%, HOM -3% (extends yesterday's 8% sell off), PEIX -3% (extends yesterday's 8% sell off), BVN -2.9%, ASMI -2.9%... Gold/Mining stocks are weak as gold fell below $600 for the 1st time in nearly 2 months: SLW -8%, GFI -6.7%, AU -6.7%, GLG -6.6%, NXG -5.8%, AUY -5.7%, BGO -5.6%, SLV -4.6%, CDE -4.4%, GG -3.5%, BHP -3.3%, GLD -3%.
Gapping Up
MVK +39% (to be acquired by TS), BBY +4.3% (reports MayQ; up in sympathy: CC +2.1%), USEY +22% (files 8-K, changes slide from recent presentation), LMS +9.8% (raises guidance), GTOP +7.5% (FDA grants fast track status), FRG +7%, HOLX +7% (pre-announces Q3 results), MDG +4.6%, ARNA +3.6% (Phase 2 results; C.E.O. appears on CNBC), DCTH +12% (system featured in nursing journal; also shareholder's meeting today), MED +2.9% (hearing positive newsletter mention), LEH +2.2% (Sandler O'Neill upgrade), BKHM +1.7%, POZN +1.5% (extends yesterday's 11% move), AAPL +1% (Needham upgrade), ADBE +1% (Lehman upgrade).
Disclaimer & How I use this list
