September 25, 2007

The December S&P 500 is trading at it's 8 day avg of 1523. If it trades below that number for more than one hour, you could see a day of heavy selling down to its 50 day avg at 1495.26.
LVS and WYNN continue to go straight up. Either business in Maccau is better than anybody ever thought, or they are merging, or a third party is buying both companies, or its the short squeeze of the year! Hard to say where it will stop, but I would keep buying the dips, until it closes down on the day.
CROX broke out yesterday and is continuing this morning, and should be a good buy on dips.
LEN reported poor earnings and is continuing to sell off. The whole group should be a short on rallies.
There are five seondaries today: BTRX priced at $5.75, USU priced at $9.76, CNQR priced at $28.50, SPF priced at $7, and QMAR priced at $18.90.
Here are some of the news related trading ideas for today:
QCOM raises Q4 EPS guidance
Gapping up on strong earnings/guidance: KRSL +13.4%... S&P announces changes to U.S. Indices; the following stocks are gapping up after being added to the S&P 500: EXPE +6.1%, TSO +3.4%, ICE +3.3%... Chinese telecom stocks are up with reports that China will soon issue 3G licenses, and a separate report that the govt will overhaul the telecommunication industry: CHA +6.3%, CHU +2.1%, CHL +1.6%... Other news: SCON +24.2% (signs term sheet for joint venture with Hunchun BaoLi Communication), FMCN +9.7% (files delayed Form 20-F; co completed previously disclosed investigation), AKNS +9.6% (co partners with STP to manufacture new solar panel; see yesterday's New High Profile comment for background on AKNS), VCLK +6.4% (Jon Najarian on CNBC highlights recent call buying and takeover rumors in VCLK), CDS +5.8% (announces that its subsidiary Jinwei Magnesium has commenced the production of magnesium at its new manufacturing facilities; see yesterday's profile for more information on CDS), TGB +3.1% (announces positive feasibility study for prosperity project), ARNA +2.4% (announces 'Positive' Phase 2 clinical trial results of APD125 for the treatment of insomnia).
Gapping down: CEA -14.7%, HOV -6.7%, LEN -6.5%, LOW -6.1%, MXIM -4.9%, GOLD -4.7%, TGT -4.3%, RTP -4.3%, AAUK -3.8%, LMC -2.9%, RYL -2.9%, KBH -2.9%.
InterActive upgraded to Buy from Neutral at Merrill (28.14 )
Arena Pharm announces 'Positive' Phase 2 clinical trial results of APD125 for the treatment of insomnia (11.72 )

 

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