The market's gapping down this morning and that will cause the Nasdaq and S&P to violate the support levels I wrote about last night. Of course, the close is what's important. Let's see what the bulls can do to get back above support.
On Today's Calendar:
- nothing
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: SGP -7.8%, LMC -5.8%... Chinese stocks under pressure following 3.7% drop in Hang Seng, 2.6% in Shanghai overnight: CPSL -7.6%, TBSI -7.6%, JRJC -7.1%, ZNH -6.4%, CHNR -6.2%, RCH -6.1%... Other news: BHIP -13.9% (announces private placement financing), FTEK -7% (Downgraded to Sell at Merriman Curhan Ford), CFC -6.2% (downgraded, tgt cut at Lehman), TARR -5.8% (completes additional $91 mln of property sales).
Gapping Up
On strong earnings/guidance: CDS +10.3%, HAS +5.4%, CRNT +3.6%, RCL +1.9%... M&A-related: RTSX +46.1% (co to be taken private by Vestar Capital for $32.50 per share), GILT +7.6% (FT reports the co is working with bankers at UBS to evaluate interest from several strategic and private equity buyers in buying the co)... Other news: PLUG +38.0% (announces a purchase order for GenDrive fuel cell power units from WMT), CLWT +11.3% (announces it has recently been awarded contracts worth about $2.4 mln by a USA Aluminum co based in Qinhuangdao, China), NED +4.2% (new IPO on Friday, not seeing any news), TMA +2.5% (co's CEO buys 1 mln shares at $9.50), PTR +2.2% (stock gained 2.2% in Hong Kong after it said it expects its yuan-denominated shares to start trading in Shanghai on 11/5 - Bloomberg.com).
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