It looks like we're gonna open right near the top of the recent tight trading range. Perhaps we'll get a breakout today... but I'm not holding my breath.
On Today's Calendar:
- 10:30 -- Crude 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 weak earnings/guidance: BW -8.2%, MTRX -5.9%, DRI -3.2%, HANS -2.3% (reported somewhat ambiguous numbers in 10-Q, Herb Greenberg made cautious comments on CNBC), CC -1.7%... Other news: MGM -10.8% (Tracinda determined not to pursue negotiations regarding a possible acquisition of Bellagio and CityCenter), CPSL -4.9% (profit taking following yesterday's strength).
Gapping Up
Gapping up on strong earnings/guidance: LYTS +11.3%, CLC +6.0%... M&A: JNC +17.4% (to be acquired by private equity group for $65 per share; GROW +3.3% up in sympathy)... Other news: AVRX +22.9% (announces positive interim results for AVN944 Phase I trial), LUNA +9.7% (co and Virginia Commonwealth University study published in Journal of Immunology), HD +6.2% (to sell HD Supply and announced $22.5 bln increase in share repurchase authorization), PTR +5.2% (co plans $5.7 bln Shanghai share sale), FRPT +4.7% (announces $221.7 mln contract), FFHL +4.3% (continued momentum from yesterday's ~20% run), MU +3.3% & IFX +2.4%, (Inquirer.net reports that DRAM spot prices get boost from smuggling).
Disclaimer & How I use this list
As I said yesterday: "John Leonatti says: (Referring to the NASDAQ)
June 19th, 2007 at 11:44 pm
I think we are in trouble here. I think it will turn out to be a double top. The two reversal days, Fri and Mon, are called “upside gap two crows†in candlestick parlance, which is bearish. Essentially, its a gapping breakout with no follow through. My indicators put me short of the Russell 2000 today. This week should be interesting."
Am I bragging? Yes, until I screw up. It has happened.
Hi Mike,
I know you like to look at On Balance Volume so I'm writing to let you know there is a bearish divergence taking place in the QQQQ.