I guess I can call off my S&P double-top watch. Yesterday’s Fed Minutes release was enough to push that index through its July high, if only by a few points. Volume was unimpressive yet again but it’s tough to argue with the price action.
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
On weak earnings/guidance: LBIX -10.3%, PETM -9.5%, HELE -8.4%, KMGB -8.4%, IRBT -6.7%, MON -4.6%, ACGY -4.4%, IP -4.3%, VLO -3%… Other news: TGB -7.1% (Mines announces bought-deal public offering and private placement financing to raise up to $45 mln), ESL -5% (receives delisting notice from Nasdaq), UTSI -4.8% (announces restructuring plan, to layoff 11% of workforce), LAYN -4.2% (prices a 2.7 mln share common stock offering at $54.50/share).
Gapping Up
On strong earnings/guidance: COST +6.5%… M&A-related: NENG +22.1% (announces acquisition of Alliance Systems; expected to be immediately accretive to earnings)… China-related momentum continues: CSUN +12.7%, CHNR +9.8%, SEED +9.6% (announces it was selected by the editors of Forbes Asia magazine as one of Asia’s 200 “Best Under a Billion”), NINE +7.7% (Duan Yong Ping discloses 15% stake after the close yesterday), RCH +6.4%, QXM +7.6%, EFUT +6.4%, XING +5.9%, ATS +5.8%… Other news: FMT +9.0% (Harbinger Capital Partners reports 9% stake), SNTA +5.9% (GSK and SNTA announce development and commercialization collaboration for STA-4783 in oncology).
Disclaimer & How I use this list
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