I'm personally excited because by nature I am a fairly frugal guy and I love to buy things that are on sale. When it comes to my long term swing account I tend not to buy my full position all at once. I like to build my position in chunks. It is difficult to determine when the correction will subside and just like the market can get overbought on irrational exuberance it can also get oversold on irrational fear. So while I do think that this may be the beginning of a new short term change in the direction of the market I also believe that there will be some fantastic opportunities to start buying some quality names on sale.
You don't have to, nor should you do that all in one day take your time be patient study the charts of the companies you like figure out where you think the floor may be and set your alerts so you can analyze whether to start building your position when it hits.
In the mean time I will be playing the stocks that are bucking the overall market trend as there will inevitably be some companies still in play to the upside.
Morning movers and stocks on my radar
$NTWK already swinging long term looking to trade in cash account on pr,$CLSN pr, $MTSN pr, $DRRX pr, $SLTM pr, $CLNT pr, $FNSR earnings beat $CBMX pr, $ATOS pr $EMKR pr, $CAMP nice daily and pr
Seeking Alpha
Today's Markets:
In Asia, Japan -1.7% to 13015. Hong Kong -2.9% to 20383. China -2.8% to 2084. India -2.7% to 18719.
In Europe, at midday, London -2.4%. Paris -2.5%. Frankfurt -2.5%.
Futures at 7:00: Dow -0.65%. S&P -0.8%. Nasdaq -0.9%. Crude -1.8% to $96.47. Gold -5.95% to $1292.20.
In Asia, Japan -1.7% to 13015. Hong Kong -2.9% to 20383. China -2.8% to 2084. India -2.7% to 18719.
In Europe, at midday, London -2.4%. Paris -2.5%. Frankfurt -2.5%.
Futures at 7:00: Dow -0.65%. S&P -0.8%. Nasdaq -0.9%. Crude -1.8% to $96.47. Gold -5.95% to $1292.20.
Today's economic calendar:
8:30 Initial Jobless Claims
9:00 PMI Manufacturing Index Flash
9:45 Bloomberg Consumer Comfort Index
10:00 Existing Home Sales
10:00 Philly Fed Business Outlook
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
8:30 Initial Jobless Claims
9:00 PMI Manufacturing Index Flash
9:45 Bloomberg Consumer Comfort Index
10:00 Existing Home Sales
10:00 Philly Fed Business Outlook
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
Yahoo in Play
Other news: OSH -10.4% (filed to delay its 10-Q), FIVE -6.3% ( launches secondary offering of 8,563,172 shares of its common stock by selling shareholders), UL -2.5% ( plans to increase stake in Hindustan, according to reports), HLSS -2% (Home Loan Servicing files for 12.5 mln share common stock offering ), RBS -1.9% ( Britian preparing RBS (RBS) breakup and Lloyds (LYG) stake sale, according to reports), NOK -1.3% (WSJ.com reported NOK and MSFT previously discussed device unit deal), MSFT -1% (Microsoft says an internet connection will not be required to play offline Xbox One games; users can trade-in, lend, resell, gift, and rent disc based games ), GOOG -1% (CNIL orders Google to comply with the French Data Protection Act, within three months), FB -1% (plans to introudce a Video-Sharing Service, according to reports ), AHT -0.7% (announces offering of 11 mln shares of common stock), NLY -0.8% (cuts Q2 dividend to $0.40 from $0.45 per share in prior quarter).
Other news: SLTM +12.1% (receives new FDA 510(k) clearance for treatment of skin pigmentation), DRRX +10.8% (thinly traded, announces FDA acceptance of NDA Submission for POSIDUR), CLSN +9.8% (ThermoDox HEAT Study Findings Reviewed; emerging post-hoc findings suggest that the heating cycles can be optimized to markedly improve radiofrequency ablation when used with ThermoDox), CLNT +6.4% (ticking higher, receives $2.0 mln in new orders for airflow-dyeing machines), NTWK +5.3% (awarded agreement valued in excess of $10 million with major global auto finance captive company), GME +4.9% ( following reversal in used games policy for Xbox One), ZN +4.9% (ticking higher, to conduct in-well testing operations at its Elijah #3 well), CYTK +4.4% (continued strength), ZLCS +3.6% (publishes preclinical data in Science Translational Medicine showing the beneficial effects of applying the Zalicus combination high-throughput screening technology for the potential treatment of ebolavirus infections), RYAAY +3% (reports that indicate the co is planning buybacks and/or special dividend), WAGE +2.3% (will be added to S&P 600), SSYS +2.2% (to acquire MakerBot for initial value of ~$403 mln in all stock transaction), CAMP +1.9% (will replace Palomar Medical Technologies S&P600), SD +1% (appoints CFO Bennet to CEO (former CEO Ward leaving the co), AEC +0.8% (will be added to S&P 600).
Other news: SLTM +12.1% (receives new FDA 510(k) clearance for treatment of skin pigmentation), DRRX +10.8% (thinly traded, announces FDA acceptance of NDA Submission for POSIDUR), CLSN +9.8% (ThermoDox HEAT Study Findings Reviewed; emerging post-hoc findings suggest that the heating cycles can be optimized to markedly improve radiofrequency ablation when used with ThermoDox), CLNT +6.4% (ticking higher, receives $2.0 mln in new orders for airflow-dyeing machines), NTWK +5.3% (awarded agreement valued in excess of $10 million with major global auto finance captive company), GME +4.9% ( following reversal in used games policy for Xbox One), ZN +4.9% (ticking higher, to conduct in-well testing operations at its Elijah #3 well), CYTK +4.4% (continued strength), ZLCS +3.6% (publishes preclinical data in Science Translational Medicine showing the beneficial effects of applying the Zalicus combination high-throughput screening technology for the potential treatment of ebolavirus infections), RYAAY +3% (reports that indicate the co is planning buybacks and/or special dividend), WAGE +2.3% (will be added to S&P 600), SSYS +2.2% (to acquire MakerBot for initial value of ~$403 mln in all stock transaction), CAMP +1.9% (will replace Palomar Medical Technologies S&P600), SD +1% (appoints CFO Bennet to CEO (former CEO Ward leaving the co), AEC +0.8% (will be added to S&P 600).
Briefing .Com
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Good luck trading today !!
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