Google has lit a fire under the market with their earning’s report. It seems that they’ve surprised most on the Street b/c recently I’ve been seeing so many ANALyst notes about how their click-through rates were declining and worries about losing financial advertising. Wrong!

Keep in mind that it’s options expiration day and that this morning’s gaps will put the indices near their resistance levels.

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. Also be sure to check my typical swing trade entry & exit rules.

Potential day trades:

(From Briefing.com)

Gapping Down

TOMO -29.2%, GRRF -14.6%, ATRM -14.4%, ISRG -11.0%, SCOR -8.4%, VASC -4.7%, CYN -3.9%, ESLR -3.6%, SLB -3.5%, ATN -2.4%, ICUI -1.8%

Gapping Up

In reaction to strong earnings/guidance: OSTK +35.7%, GOOG +17.9% (also upgraded to Buy from Hold at Collins Stewart and upgraded to Buy at Jefferies), MF +11.7% (also added to Focus List at JPMorgan), ETFC +10.5%, C +8.2%, TPX +7.8%, PMCS +7.7%, MAN +7.2%, DOX +6.8%, ELY +6.4%, TLB +5.9%, SNDK +4.6%, CAT +4.5%, INFA +3.8% (also announced that its Board of Directors has authorized a $75 mln increase in its common stock repurchase program), HON +3.7%, COF +2.2%, XRX +1.0%… Select financial names showing strength following C earnings: WM +4.0%, LEH +3.3%, BAC +3.1%, MS +3.1%, GS +2.9%, JPM +2.6%, COF +2.6%, MER +2.3%, WFC +1.8%… Select tech stocks rebounding, boosted by GOOG earnings results: CRM +9.2%, BIDU +8.8%, AMZN +3.3%, RIMM +2.8%, FMCN +2.6%, AAPL +2.3%, MSFT +2.1%, EBAY +1.9%,… Other news: VOD +2.6% (still checking), SHPGY +2.6% (still checking), CHL +1.6% (profiled in Barron’s Online), ISIS +1.6% (reports reduction of apoB-100 levels in a murine model resulting in up to 92% reduction of atherosclerosis)… Analyst upgrades: TTHI +6.0% (initiated with Buy at Piper), AVNX +4.3% (initiated with Buy at Merriman), ROST +2.4% (upgraded to Overweight at Lehman), UTEK +2.1% (upgraded to Buy at Brean Murray), ADS +1.8% (upgraded to Outperform at Piper), CSCO +1.7% (initiated with Buy at Lazard).

Disclaimer & How I use this list