We're set for a higher open this morning. Maybe I can actually find something to trade for the first time this week...
Potential swing trades:
See one of the recent 'Chart Reading' posts for some potential swing candidates.
Potential day trades:
(From Briefing.com)
Gapping Down
STLY -11% (guides below consensus), SMTC -6% (delays 10-Q; Morgan Keegan downgrade), CVTX -3.9% (Piper downgrade), VE -3.2% (extends recent sell-off), KBH -1.8% (downgrades from Morgan Stanley and JMP Sec), VSE -1.3% (profit taking after big IPO debut yesterday).
Gapping Up
IMGC +26% (to be acquired by PHG), LSCC +6.8% (guides higher), IDEV +6.7% (positive phase 2 data), XING +5.5% (extends yesterday's 13% move higher), IFN +4.6%, ERS +4.4%, TIE +4.3% (extends yesterday's 4% move higher), GNSS +4.1%, SHPGY +3.7%, NVDA +3.5% (UBS upgrade), COMS +3.3% (Morgan Stanley upgrade), IIF +3.3% (files 10-K), BSC +3.2% (reports MayQ), TTM +2.9% (Asian mkts higher), SNDK +2.5% (UBS upgrade), PEIX +2.5% (extends yesterday's 8% move), ESLR +2.5%, BVN +2.5%, ATI +2.2% (extends yesterday's 5% move), HANS +2.2%, NYX +2.2%... European stocks are strong on stock market rally there: ABB +5.1%, ERICY +2.5%, ALA +2.2%, NOK +2.1%, ASMI +3.2%... Mining stocks are strong in pre-mkt on higher gold and copper prices: MNG +13%, AU +5%, NXG +4.5%, SLV +4.3%, AAUK +4.1%, HL +3.6%, EZM +3.5%, CDE +3.4%, RTP +3.4%, GG +3.2%, CUP +3.1%, BHP +2.8%, GFI +2.2%, ABX +2.2%... Under $3: DSCO +16% (gets new orphan drug status), PRGX +14% (names new exec VP), HYGS +10% (supply agreement with BOC), AVNX +8%.
Disclaimer & How I use this list
Hey Mike
Your site has been very helpful. I have recently read some of your posts on trading opening gaps (waiting till 10:00-10:30). However, I still have a lot to learn but I would appreciate your thoughts on how you would trade NVDA after this mornings gap up. Also, how does the condition of the market at this point affect this trade. Thanks for your help.
Jon,
You could have bought the break of the first hour's high with a stop either at the low of the day or at 21.50, which was the low of the 9:45-10:00 candle. Or for an even tighter stop, you could have used the low of the 10:00 or 10:15 candles.
I like to trade stocks that are moving with the market. But there are others who don't seem to care one way or the other. Trader X is a great example of that.