Monday, May 28, 2007

May 22nd Tuesday - Gapping up /down

Gapping down on weak earnings/guidance: KONG -16.2%, GSOL -7.1%, GIGM -5.5%, APOL -4.1%, SPLS -3.2%, NTES -2.4%... Other news: OMTR -7.1% (announces a 6.8 mln share common stock offering), ACW -6.3% (files for a 5.4 mln share common stock secondary offering by selling shareholders), HRAY -4.9%, ONT -3.5% (announces acquisition of Hantro Products), DYN -3.8% (Chevron to sell Dynegy shares), MNST -2.9% (tier-1 firm suggesting sale of co may be less likely), SSL -2.7% (gives project update for Oryx gas-to-liquids venture).

Gapping up on strong earnings/guidance: PSUN +6.5%, ASEI +4.4%... Casino stocks seeing strength following Tracinda/MGM negotiations: MGM +24.1%, BYD +7.0%, WYNN +4.9%, LVS +3.9%... Mortgage-related stocks moving following FMT developments: FMT +50.6%, NFI +9.9%, LEND +9.4%, IMH +6.6%, AHM +3.9%... Other news: AVNC +20.9% (announces FDA acceptance of Amoxicillin Pulsys NDA), OXPS +6.7% (continued momentum following yesterday's 7% move higher on takeover rumors), EMU +4.9% (light volume, broker comments out of Canada discussed potential sale of co), TSS +4.5% (mentioned by Cramer next co that could be bought), DNDN +4.5% (continuation of strength from yesterday afternoon), STM +2.5% (STM, INTC and Francisco Partners to create a new independent semiconductor co), CTSH +1.8% (positive comments from tier-1 firm).

Short-term Overbought/Oversold candidates -Update- -Technical-

Here's a brief list of stocks that are currently trading at unusually high or low short-term levels. Stocks that are overbought include: JRCC, CFUL, CLRK, RAVN, ICPR, MEK, TBSI, BG, GLDD, TECUA, UA, VCP, CMRG, DDS, RIG, CTRP, OMTR, FRG, OMNI, NM, URZ, ENT, CERS, TOPT, BIVN, PCLN, CRZO, SIL, & WINN. Stocks that are oversold include: IMCL, POP, BBI, MPEL, SOLF, VGZ, GLBC, & IDMI. Watch these stocks for potential continuations or corrections from their current states.

Stocks that closed near or at their session high/lows yesterday on above avg volume
-Update- -Technical-

Stocks that closed near or at session highs included: ITW, SBH, EFD, PXP, WYE, SRP, TNE, MVL, VCP, LEG, AMZN, CREE, DJO, CMRG, NRMX, ICE, NYX, TMX, ICGE, LAVA, ALJ, ARA, ACW, AMLN, FEIC, SEPR, & HMIN. Stocks that closed near or at session lows included: SKS, SSL, NVS, & GSK. Watch these stocks for potential corrections or continuations of yesterday's action.

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