Here's a chart of the Nasdaq which clearly shows that it's getting toppy:

I'm watching ELOS for the second day in a row. It got a $62 target from CIBC today so maybe it can run a little today. I'm also considering buying a little of it for my IRA...

I'm also watching GOOG (as usual) on the heels of the report of them 'approaching a PayPal model'. And ABGX just got an $18 target from WR Hambrecht

Potential swing trades:

See one of the recent 'Chart Reading' posts for some potential swing candidates.

Potential day trades:

(From Briefing.com)

Gapping Down

09:14 I've seen a few comments saying that IMCL's drop yesterday was over-done so I'm watching that for a bounce

Gapping Up

Gapping up on strong earnings/guidance: PWEI +28%, ESLR +18% (also announces $70 mln sales agreement), EXPE +13%, SANM +13% (also Baird upgrade), PWAV +8.4% (also OpCo upgrade), BYD +7.4% (also Bear Stearns upgrade), EGY +7%, TE +7%, RRGB +6.4%, GSX +6.2%, CSC +1%... Other News: VRTY +28% (to be acquired by Autonomy), OSUR +15% (C,E.O. appears on CNBC), INGN +10% (oral health alliance with Colgate-Palmolive) BVF +9% (enters into commercial alliance; CIBC upgrade), KEYN +8.6% (names new VP for Asia Pacific), CKCM +7% (extends yesterday's 9% move; short squeeze), AOB +5% (hearing stock highlighted by newsletter), PANC +4.7% (started with an Outperform at Bear Stearns), ELOS +4.5% (target raised to $62 at CIBC), HEPH +4.6% (Jefferies upgrade), SBUX +3.5% (Oct comps), TZOO +3.5% (extends yesterday's 8% move; short squeeze), DUK +3.5%, ATVI +3.4% (Mad Money mention), BOOM +3%, ABB +2.8% (Mad Money mention), IMCL +2.2% (stock defended by BofA)... Bird Flu stocks are strong on report of new China outbreak: AVII +8%, NVAX +3.3%.

Intraday Updates:

• 09:14 I've seen a few comments saying that IMCL's drop yesterday was over-done so I'm watching that for a bounce
• 09:34 A quick test of yesterday's highs for the Nasdaq. And a not too surprising failure there...
• 10:03 Nice move by RRGB as it rips through its 200-day moving average. Still a big gap for it to try to fill...
• 10:05 We have liftoff in the QQQQ!
• 10:13 and just that quickly the QQQQ reverses back under yesterday's highs. Forming a shooting star on the 15 minute chart...
• 11:12 Buyers are stepping up to try to keep the Nasdaq out of the red. I see some potential longs but as we get closer to lunch time I'm tempted to just call it a week and shut everything down.
• 11:18 Then again... A minute after that last post I bought IMCL :-)
• 11:47 MNTA's all over the Trade-Ideas scanner. It's trying to make a run...

Disclaimer & How I use this list