Watchlist for October 26, 2006
By Michael on Oct 26, 2006 in Watchlists
I don’t even know what to say about this market any more. The melt-up continues this morning with another gap up. If this gap were a bit larger I’d be all over the gap fade but I don’t think there’s enough euphoria out there for the fade to work today.
On Today’s Calendar:
- 10:00 AM — Help-Wanted Index
- 10:00 AM — New Home Sales
More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
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: ATRM -21%, USPI -13% (also BofA downgrades to Sell, Stifel downgrade), BEBE -13%, FORM -11%, NETL -9.4%, RVSN -9.4%, CRS -9%, TRID -8.3% (also Prudential downgrade), APPB -7.5% (also Jefferies downgrade), ARBA -7.3% (also JP Morgan downgrade), SYMC -7.1%, TSCO -7% (also multiple downgrades), SMDI -6.5%, WOOF -4.4%, WMGI -4.4%, ZMH -4.3%, EQ -2.8%, WVCM -2.7%, RAIL -3%, CLF -1.4%… Other News: RNVS -76% (stroke drug failed a key clinical trial and will be dropped from development; co also reported Q3; also CIBC downgrade), RHAT -20% (ORCL to support Linux, seen as negative for RHAT; also multiple downgrades; down in sympathy: NOVL -4.1%), XLTC -12.4% (German regulators to prohibit COHR’s purchase of XLTC), COGT -9.2% (Stanford downgrade), OSI -6.6% (delays Q3 release), OSIP -3.1% (Lehman downgrade), ISE -2.9% (downgrades from CIBC and BofA)… Under $3: MOBE -12% (reports Q3).
Gapping Up
Gapping up on strong earnings/guidance: PFWD +14% (also Piper upgrade), KBAY +13%, FFIV +11%, SKX +11%, NEWP +10%, ZIGO +14% (also Maxim upgrade), HLIT +13%, VAR +9.3%, AET +8.5%, NVT +8.3%, BOBJ +8.3% (also upgrades from Citigroup and RBC), AFFX +8.1% (also UBS upgrade), CELG +7.7%, LSI +7.7%, ATVI +7.6%, MIPS +7.2%, MRVC +6.7% (also Roth upgrade), HAR +4.6% (also Soleil upgrade), PNSN +4.6%, CMCSA +4.5%, IDIX +3.6%, RTN +3.1%, DOW +2.9%, HXL +2.6%, MTH +2%… Other News: CCU +7.3% (considers strategic alternatives; also Soleil upgrade), FNET +6.1%, PCAR +4.2%, CHS +3% (Pru upgrade), MO +1% (AG Edwards upgrade).
Disclaimer & How I use this list
No tag for this post.
6 Comment(s)
By Duru on Oct 26, 2006 | Reply
I am sure lots of folks are just as speechless! This is a rally for the ages…
By Trader-X on Oct 26, 2006 | Reply
That reminds me of the Seinfeld episode where Jerry gives his Dad a Palm-pilot like device, and his Dad says “great I can use it to calculate tips.”
By Michael on Oct 26, 2006 | Reply
good one! That cartoon rings so true. I know so many people who upgrade to the latest & greatest PCs just so they can surf the net, use email and do some word processing.
By LP on Oct 26, 2006 | Reply
Man I wonder what kind of pain is ahead for those who enter the at top of the rally.
By howard lindzon on Oct 26, 2006 | Reply
Been easy mkt for sure but many landmines.
By candice on Oct 26, 2006 | Reply
Mike, it’s just like cars. Some people always need an upgrade.
And at the moment the Mac junkies are upgrading like crazy to the intel stuff because it’s just so much faster.
Then again, I’m a programmer some of the time and I will use up any amount of memory, disk, and processing power I can get. So some of us do need it.