The gains from yesterday's CFC-fueled rally are evaprating quickly this morning. Now the market's worried about earnings from financial firms like AXP, C, and MER. The bulls may have to hang their hopes on actual earnings reports which start to roll out next week.
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
In reaction to weak earnings/guidance/same store sales: RFMD -17.3%, BMJ -14.3%, JMBA -8.8% (also downgraded to Hold at Wedbush), OPXT -8.0%, AXP -6.6% (also multiple analyst downgrades), AB -5.7%, ININ -4.6%, CIT -4.5%, INFY -2.9%, SNWL -1.5%... M&A news: CFC -11.0% (Bank of America confirms agreement to purchase CFC in all stock deal that equates to $7.16/CFC share based on BAC's closing price)... Other news: CADX -46.4% (announces topline results of two Phase III clinical trials of Acetavance), JNPR -7.7% (resignation of COO Stephen Elop; also multiple analyst downgrades), DOX -6.5% (AT&T deal does not alleviate concern that DOX will report light revs growth - Kaufman), ACGY -5.3% (still checking), BHP -3.5% (still checking), MT -3.3% (announces accident occurred at its Abaiskaya mine in Kazakhstan), MA -3.1% (down in sympathy with AXP), CHL -3.0% (Chinese govt has put finishing touches on industry restructuring; no acquisition talks - DJ), YHOO -1.4% (facing deteriorating paid search, Bernstein says- Bloomberg)... Analyst downgrades: BKUNA -7.0% (downgraded to Sell from Hold at Sandler O'Neill), COF -4.5% (tgt cut to $53 at Bernstein), IFX -4.0% and ASML -3.5% (Credit Suisse downgraded the European semiconductor sector), BLDP -3.1% (hearing downgraded to Sell at tier-1 firm), STM -2.6% (downgraded to Neutral at Credit Suisse), DCP -2.5% (downgraded to Sector Perform at CIBC), RIMM -2.5% (downgraded to Hold at Canaccord Adams), DWA -1.7% (downgraded to Neutral at Merrill), MHS -1.7% (downgraded to Equal Weight at Morgan Stanley), AEE -1.6% (hearing downgraded to Neutral at tier-1 firm), DBRN -1.3% (downgraded to Hold from Buy at Stanford), SCSS -1.1% (downgraded to Mkt Perform at William Blair, hearing downgraded to Neutral at tier 1 firm).
Gapping Up
In reaction to strong earnings/guidance/same store sales: TMY +12.7%, SHFL +10.6%, URI +8.6%, PFCB +6.8%, DMAN +5.9%, DENN +5.2%, SNX +4.9%, IHS +2.6%... M&A news: AMCP +37.1% (to be acquired by Employers Holdings for $12.50/share)... Other news: EDAC +26.2% (receives $1.9 mln Military contract including an option for up to an additional $1.9 mln), MEAD +21.1% (MEAD, Star Instruments and RC Optical Systems agree to settlement), WM +5.9% (CNBC commentator says that WM has had very preliminary talks with JP Morgan), SOLF +4.6% (announces update on sales and polysilicon supply; recently signed a 140 MW long-term wafer contract), CHU +3.2% (Chinese govt has put finishing touches on industry restructuring; no acquisition talks - Dow Jones), BAC +3.1% (confirms agreement to purchase CFC), DROOY +3.0% (still checking)... Analyst upgrades: PAY +4.0% (upgraded to Outperform from Market Perform at Morgan Keegan), TTEC +2.7% (upgraded to Buy at Suntrust), SPWR +2.5% (hearing upgraded to Buy at tier 1 firm), NAT +2.4% (upgraded to Neutral at UBS).
Disclaimer & How I use this list
Mike,
If you add your own take on the markets based on the TA, I guess your blog should be much better, don't you think?
thanks for everything,
Jack
Isn't that what I've been doing?
Hi Mike ,
I was wondering how you deal with all the tax filings ? Now that the tax season is coming , any tips from day-traders like you will be very helpful. I am an active trader and even with all the tools and importing data , it takes me weeks to prepare the tax return. I can only imagine , how much time it takes for a day-trader.