We've got some strength thins morning which has the QQQQ in new 2007 high territory. DIA, (the Dow proxy) is getting close to its all-time high as well. It's looking the the bears are losing their grip once again...
On Today's Calendar:
- 2:00 -- Treasury Budget
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 and/or same store sales: CAMP -10.3%, FLOW -8.4%, FLOW -4.5%, M -2.3%... Other news: SBEI -8.1% (profit taking following yesterday's ~160% move), EGO -8.4% (co's Kisladag mine was ordered to be shut down), ENDP -6.6% (withdraws guidance pertaining to filing date of its NDA for its Ketoprofen Patch; stock was subsequently downgraded at RBC this morning), IMCL -5.8% (announces Erbitux Phase III study in first-line treatment of advanced lung cancer did not meet primary endpoint), HUN -4.2% (Basell confirmed it will stand by its $25.25 a share offer for HUN), ABT -3.7% (co terminated diagnostics sale to GE), NMGC -3.5% (profit taking after yesterday's 20%+ run, which was fueled by strength in SBEI).
Gapping Up
Gapping up on strong earnings, guidance and/or same store sales: JCTCF +29.1%, FCSX +7.6%, AEO +7.2%, ANF +7.2%, ZUMZ +5.7%, ROST +5.7%, JCP +4.1%... M&A: AL +10.8% (RTP offers to acquire co for $101/share; other aluminum names up on the news: CENX +6.1%, AA +6.1%)... Other news: SIFY +10.9% (announces it will work with Microsoft India to "empower Indians with Internet and IT services"), BQI +9.3% (estimates resource potential of its Saskatchewan and adjacent Alberta permits), REDF +4.2% (trading up in sympathy with SIFY), ARIA +4.0% (co and Merck announce global collaboration to jointly develop and commercialize AP23573), NOK +3.8% (trading up after MOT preannouncement).
Disclaimer & How I use this list
"It’s looking the the bears are losing their grip once again…"
Squeeeze dem Bears! :d
As of 12:30 PM-EST, it does indeed look like the Bears are on their heels a bit. The Q's have really busted out. Should be interesting to see if the Bulls can hold these highs to the close.
Sub-prime mortgages be damned! Buy! Buy! Buy!