After closing under the recent support yesterday both QQQQ and SPY are set to open higher, back inside the recet trading range. I'm not inclined to do much in this low volume environment. I think my plan through Labor Day is to crank up my volume surge filter to only consider stocks that are moving on at least 3 or 4 times normal volume. Either that or head for the beach. :-?
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: CHS -19% (also UBS downgrade), WSM -11%, CNVR -9.2%, PDCO -5.7%... Other News: OLAB -7.4% (profit taking after huge move this week), RAD -2.8% (to purchase Eckerd and Brooks operations), EBAY -2.5% (Piper downgrades to Underperform), APSG -1.9% (extends yesterday's 6.5% drop on earnings), BBBY -1.7%, SLM -1.6%, FDRY -1%... Under $3: GTE -14% (co gets further delisting notice from Amex), AAU -7.2%.
Gapping Up
CREAF +27% (settles lawsuit with Apple, receives $100 mln), CWTR +9.4% (reports JulQ), VPHM +7% (Cowen upgrade), HOKU +6.2%, FRED +4.3% (reports JulQ, beats by $0.02), RMBS +4.3% (extends yesterday's 18% move), F +3.5% (co may go private - USA Today), TIVO +3.1% (signs deal with Cox), PVH +2.8% (reports JulQ), MT +2.2%, CLZR +2% (Matrix upgrade), GSK +1.9% (signs license agreement with ChemoCentryx), EON +1.8%, H +1.6% (authorizes large stock buyback), PALM +1.2%, CSCO +1.1% (positive Lightreading article)... Stem cell stocks extends yesterday's strong move: STEM +4.4%, ASTM +4.2%... Under $3: LIPD +20% (extends recent momentum), CTIC +7.6% (extends yesterday's 22% move), GTW +3.6% (Bear Stearns upgrade).
Disclaimer & How I use this list
Heading to the beach sounds like a good trade to me! :d Oftentimes the decision to not trade is the right trade, eh?
indeed