4.08.2012

April 9 - Mon. "Think Long Term"


 NILE - broke below 30, keeping sell pressure on this one should get a nice fade if volume picks up. I like the short on the 30 test and fail if that happens. It very well could just stay below 30, but we'll hand onto our 30+ short ave until its done washing.

BBBY - very nice strong uptrend, not thinking short on it just yet and would only be for a trade for a few points possibly off the 75 fail if it gets there.

MIND - I think this long bias gears its way back up to the 26 double top and bull flags before it pushes higher, I like the swing trade long even more so with the nice e/r beat (37m v. 31m rev, .77 v. .57 eps).

DANG - feeling this chart and not really feeling the short whole heartedly just yet. I like the 10 blow off into parabolic. I just dont feel that the run from 6-9 is a reason to short it yet. Could be wrong, but I'm still bullish on this one.

PLCM - super washout from preliminary e/r results that were 370m v. 400m rev, .23 v. .30 eps. So is a clear miss. I'm still reading on this one so I won't offer a bias just yet (leaning towards long). 14.45 is an interesting spot to set a 6mo double bottom, just saying. More on this one over time.
 http://seekingalpha.com/article/483551-polycom-60-correction-provides-interesting-entry-point

MONDAY, April 9
Extended-Hours Earnings: CNET, GBX, ZEP.
Economic Data: None.
TUESDAY, April 10
Extended-Hours Earnings: AA, SMSC, SVU.
Economic Data: 10 a.m. Wholesale Inventories.
WEDNESDAY, April 11
Extended-Hours Earnings: ADTN, APOG, HOFT, TITN.
Economic Data: 7 a.m. MBA Mortgage Index; 8:30 a.m. Import/Export Prices; 10:30 a.m. Crude Inventories; 2 p.m. Treasury Budget; Fed's Beige Book.
THURSDAY, April 12
Extended-Hours Earnings: OZRK, CHKE, FAST, FFHL, GOOG, JBHT, LAKE, LAYN, LDK, RAD.
Economic Data: 8:30 a.m. Initial Claims; PPI; Trade Balance.
FRIDAY, April 13
Extended-Hours Earnings: IGTE, JPM, TAYD, WFC.
Economic Data: 8:30 a.m. Trade Balance; CPI; 9:55 a.m. Michigan Sentiment.