Here Are Some Mid-Day Opportunities
The SOX thus far has made a low at 291,
which is slightly above the 1.0 volatility band. A 1,2,3
setup later could be a trigger for the semis. You can play this via individual
stocks in the sector, or through the Semiconductor HOLDRs
(
SMH |
Quote |
Chart |
News |
PowerRating).
Several brokers (GS, MWD, LEH) beat
estimates today, and we may see some action here later. Goldman Sachs
(
GS |
Quote |
Chart |
News |
PowerRating)
looks like it may be testing a bottom here. Earlier GS was in the spirit of a
news reversal. Since the market seems to be shrugging off the good news (as $XBD
is the worst performing sector today), look for possible further weakness later.
Clorox
(
CLX |
Quote |
Chart |
News |
PowerRating) said it will miss for the
quarter ending 12/31. The stock gapped down and has been languishing near its
lows intraday. Add this to the lower highs on the daily chart, and you may have
portfolio managers reassessing their positions on this stock. Consider selling
rallies here.
Bed Bath & Beyond
(
BBBY |
Quote |
Chart |
News |
PowerRating), which
announced a good third quarter today, has retraced .786 of its intraday range,
and may set up from here.
Good trading this afternoon,
Brice