First off, if you haven’t already done so, check out WoodShedder’s post “Isa’s Hats”
Notes…
– 3 red days in a row for SPX and DJI. NDX broke the cycle.
– IBD has “rally under pressure” alert (2/2 issue), after releasing a silly “follow-through day” last Wednesday. Despite the intense bearish news permeating in the bank sector, I think the market can retest the FTD range.
– VIX looks weak, however it is a tough read. Volume was very light 2/2/09 versus Friday. I think Friday was a distribution day.
– Earnings Lightning Round: Company’s reporting 2/3/09 that matter
- Avon (AVP) – yuck. 2 points from 52-low, retail is bad longterm, but tricky here.
- CME Group (CME) – oh boy, the big one is reporting. Keep an eye on ICE, NDAQ, AMTD
- Corinthian College (COCO) – marshmellows anyone? Watch the school stocks in this order: DV, LOPE, ESI, CECO
- Electronic Arts (ERTS) – sitting right at 52-low. Expecting a big move here.
- Genomic Health (GHDX) – hot stock in a hot sector. They best be guiding higher, or else.
- Integral Systems (ISYS) – will play if it rallies.
- TravelZoo (TZOO) – this stupid 57M marketcap stock can squeeze fast.
- RTI Metals (RTI) – a relatively cheap stock. Will play if rallies.
And day trading plays at StockTwitts…
And my “Jack-your-chart” chart of the day goes to zMoose12 for his great analysis on the “devil’s child”… SRS.
aLoHa,
-gio-
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I predict DRYS will be stupid today.
Gio,
So DRYS got loan restructure for 1/3 of its outstanding loan. Stock has been losing steam since open, you think I should cover or wait it out?
Big Mike… cover most above 6.