Looks like we're set for a flattish open today. Trading could be tricky today. Do the bears press their bets (and luck) ahead of another potential merger Monday? Do "real" buyers step in and buy this dip? Time will tell. My guess is that the market consolidates today. For now I'm focused on the support levels I mentioned in last night's recap and I'm looking for resistance at yesterday afternoon's highs (1500 on the S&P).
Edit: I'll also be watching the IPO of Limelight Networks (LLNW) which is an Akamai (AKAM) rival.
On Today's Calendar:
- nada
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 news: HSOA -8.8% (cautious Street.com article), TLAB -3.4% (downgraded at two firms this morning), NT -3.0% (initiated with a Underperform at Credit Suisse), AU -1.9% (announces preliminary May 2007 revenue), AZN -1.8% (Bloomberg.com report AZN's Brennan seeks New Drugs in acquisitions).
Gapping Up
Gapping up on strong earnings/guidance: NSM +9.2% (MXIM +3.4% in sympathy), CAE +5.8%, ZQK +2.6%.. ITC bans the import of future models of 3G handsets incorporating QCOM chipsets: TXN +2.0% (also in sympathy with NSM), QCOM +1.9%, BRCM +1.8%... Other news: AVNR +7.5 (announces both doses of Zenvia meet primary endpoint), KMGB +4.6%, EON +2.3% (added to tier-1 firm's buy list), AKAM +1.8% (competitor Limelight IPO opens for trading today, also AKAM upgraded to at WR Hambrecht), DNA +1.5% (upgraded to Buy at Deutsche Bank).
Disclaimer & How I use this list
I just wanted to stop in and tell you how much I appreciate the hard work you do over here.
Thank you!
:x
you're welcome TG :)>-