It's hard for me to have much faith in Friday's bounce given how low volume was. However, my intraday indicators did flip to bullish on Friday and we've got a small gap up this morning. So I'll be a hesitant bull to start the day but I'm staying on the lookout for a reversal.
Here's the daily S&P chart from Friday's close:
On Today's Calendar:
- 10:00 -- Consumer Confidence
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: CUP -17.5% (co announces expiration of exclusivity period granted to a third party to facilitate discussions), EYE -12.7% (announced the voluntary recall of Complete MoisturePlus multipurpose solution), JSDA -8.1% (mentioned negatively in Barron's), BOL -4.2% (gapping down in sympathy with EYE; also on Friday EYE confirmed an interest in Bausch & Lomb), BRLC -3.7% (Barron's raises questions about the accounting practices at BRLC), VRSN -2.0% (co announces new CEO following resignation of prior CEO).
Gapping Up
Gapping up on strong earnings/guidance: VOD +3.3%... Announced M&A and newspaper reports of potential M&A: WNG +14.6% (to be acquired by URS), BDY +22.5% (CEO offers to buy co for $21.50/share), AV +16.3% (WSJ reports AV may be next telecom takeover call), INSP +8.7% (Bloomberg reports that LaNetro may buy co for $800 mln Euros), CDWC +8.5% (WSJ reports buyout firms are in talks to purchase co), ASN +6.8% (WSJ reports that co is near a sale)... Other news: BLG +11.2% (Chap Cap Activist Partners recommends co explore sale, stock upgraded to Outperform at CIBC), RTK +5.6% (Peabody and Rentech enter into development and coal supply agreements), CHINA +5.0% (expands strategic partnerships with Google and China Mobile), LWSN +3.9% (WSJ highlights co), CCL +3.1%
Disclaimer & How I use this list
