The futures have weakened even more after the PPI data hit at 8:30 this morning. So it looks like another weak day. I want to see if I can find a good short candidate from the mortgage plays listed in the gapping down section. I'm hoping that WB, which was also on my swing list today, gives a decent entry.
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
In reaction to disappointing earnings/guidance: CNTF -26.7%, SOL -3.6%... Select mortgage/financial names trading lower: FMD -7.6%, AIB -4.3%, ABK -3.9%, WB -3.3%, AXA -2.9%, LEH -2.8% (WSJ reports LEH fiscal third quarter, which closes at the end of this month, has turned ugly and the bank is racing to get deals done before the period ends), HBC -2.6%, FNM -2.1%, UBS -2.1%, ING -2.1%, DB -2.0%, AIG -1.5%... Select cruise-related names showing weakness: CUK -2.3%, CCL -2.3%, RCL -0.8%... Other news: SPLS -7.4% (details Corporate Express integration plans and announces preliminary second quarter performance), LVS -4.8% and MGM -4.1% (still checking), ABMD -4.0% (announces a 2.41 mln share common stock secondary offering).
Gapping Up
In reaction to strong earnings/guidance: ANTP +13.9%, XFML +13.6%, MDT +2.0%... M&A news: NMX +1.7% and CME +1.1% (CME Group confirms shareholders and NYMEX shareholders and Class A Members approve acquisition)... Other news: WCG +20.9% (enters into material definitive agreement; co to pay $35.2 mln to U.S. Attorney's Office), FMR +3.9% (announces share repurchase program to acquire Up to 1.5 mln shares), HNP +2.6% (Chinese power producers' shares rise on tariff speculation - Bloomberg.com), ELN +2.2% (still checking)... Analyst comments: MA +1.0% (upgraded to Buy at Goldman - DJ).
Disclaimer & How I use this list
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