We're gapping down a but this morning. I'll be watching this week's lows on the S&P 500 very closely. It found support around 1408 each of the last two days so things could get interesting if that level breaks.
On Today's Calendar:
- 10:30 -- Natural Gas Inventories
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 guidance: MOT -12% (also multiple downgrades; down in sympathy: RFMD -4.2%, SWKS -3.8%, TXN -1.9%), MTXX -12%, RNOW -8.7%, OPWV -4.5% (also Jefferies downgrade), SPSN -5.3%, LPNT -4.2%... Other news: GPN -7% (reports NovQ), ESIO -5.7% (reports NovQ, misses by $0.03),NOK -5.1% (Credit Suisse downgrade, also in sympathy with MOT), AEM -4.1% (extends recent weakness, stock down 14% in 2 days), AUY -4% (extends recent weakness, stock down 13% in 2 days), MRVL -2.3% (co says stock option review finds incorrect dates; also Credit Suisse downgrade), DELL -2.2% (JP Morgan downgrade), BRCM -1.8% (finds misdated options; also Credit Suisse downgrade), GLD -1.7% (weak gold prices), INTC -1.4% (Credit Suisse downgrade to Underperform)... Large cap Chinese stocks continue yesterday's sell-off: LFC -4.7%, ACH -3.7%... Under $3: BPOM -14% (Nasdaq declines request for contiuned listing).
Gapping Up
CPSL +12% (momentum name, bounces after 20% drop in 2 days), HIHO +7.3% (bounces after 12% drop yesterday), MAMA +6% (extends yesterday's 9.1% move), RBN +4.2% (reports NovQ, beats by $0.08), CC +3.8% (reports Dec same store sales, raises revenue guidance), STEM +3.5% (extends yesterday's 17% move), BBY +3.8% (reports strong Dec same store sales, raises prior guidance), TASR +3.5% (announces it will launch new product on Monday), AZZ +3.3% (reports Q3), DIVX +2.8% (JP Morgan adds to Focus List), MEDI +2.8% (profiled in BWeek Inside Wall St section), APKT +2.7% (profiled in IBD), BRLC +2.2% (Brean Murray raises tgt to $18), SHPGY +1.9%, QGEN +1.8% (Credit Suisse upgrade), NYX +1.3% (Cramer names it as his top growth pick for 2007).
Disclaimer & How I use this list
Whoa...the last one in GLD & SLV hit the lights! GLD below $60. Hmmm...Silver is mostly an industrial metal anyway, so that's probably falling with Copper (at least in a philosophical way). Interesting way to kick off 2007 that's for sure.
/Mouse ~o)
"the last one in GLD & SLV hit the lights" =))