We have a breakout on our hands this morning. Futures are flying on the back of the jobs report. The QQQQ is up 1% as I type this. The only question is can the indices close in breakout territory. SPY is about 20 cents from the June high and I think that's the logical area to watch for a reversal.
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: CECO -20%, CVTX -11.5% (also Leerink Swann downgrade), GTW -7.6%, IVGN -7.1%... Other News: KCI -42% (federal jury rules against co in patent suit; also multiple downgrades), ICGN -41%, NZT -12%, PXPL -7%, MDRX -4.5%, AAPL -3.6% (announces update on stock option investigation), AMGN -1.2% (Bernstein downgrade).
Gapping Up
Gapping up on strong earnings/guidance: SCT +21% (also OpCo upgrade), CQB +14% (also Wachovia upgrade), TRLG +10% (also says it's considering strategic alternatives), ICOC +9%, OPLK +8%, CROX +5.5%, ATVI +6.4%, SMTX +5.9%, BOOM +5.4%, KGC +2.9%, OPWV +2.9%... Other Notes: RUTX +28% (to be acquired), CME +6.1% (to be added to S&P 500), ITWO +4.5% (CIBC upgrade), ISIS +4.3%, PACT +3.9%, COGT +3.9% (bounces after 19% drop yesterday), RMBS +3.8% (rebounds from recent slide, -10% yesterday), HANS +3.1% (Goldman positive on co; recovers after 3pt drop yesterday), OPTN +2.5% (UBS upgrade), AMD +2.5% (Mad Money mention), GRMN +2.4% (recovers after recent weakness), SNY +2.2%, MRVL +2.2%, BIDU +2% (extends yesterday's 7% move), BRCM +2%, SAP +1.9%... Mining stocks are strong as gold has rallied since the release of the payroll data: CUP +6.5%, AAUK +4.7%, BHP +2.3%, CDE +2.2%, GG +2%... Under $3: NGRU +56%, AMCC +7.6% (reports JunQ).
Disclaimer & How I use this list
Why have you been in my closet again?
The babes go CRAZY when I wear that shirt.
Might want to watch CHRS for a daytrade.
Good fundies, high short ratio, very beat down, and just upgraded. Combine the upgrade with a Fed rally and you just might get a short squeeze.
Also the 50DMA is directly overhead for the QQQQs. In fact, I think the market will gap right into it...?