The futures are getting jerked around by news on the auto makers' bailout. They were very weak to start the day after the vote failed to pass the senate last night. Now they've gained some strength on news of the President being willing to tap the TARP. This reminds me a lot of what happened during the voting on the TARP. I guess we'll just have to see what the government decides to do and go from there. From a technical standpoint, those December trendlines are in jeopardy.
On Today's Calendar:
- 10:00 -- Mich Sentiment-Prel.
- 10:00 -- Business Inventories
More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
Potential swing trades:
Possible shorts: MSCC, XOP, RIG (and a lot of other oil stocks), SLAB, ISIL, ME
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:
Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...
Disclaimer & How I use this list
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