NASDAQ Technical Picture - Gap Fade & Bullish Extension

Despite the shaky start, all the major U.S. averages extended the rally off Tuesday's lows but only the NAZ was able to establish new recovery highs off the mid-month lows. The advance stalled out in midday ahead of the Fed Chair and key economic data tomorrow with a choppy drift lower into the close leaving just a minor gain to end the session.

Companies moving in after hours trading in reaction to earnings: Trading Up: PRLS +29.6%; OTEX +14.3%; OVTI +11.0%; ESL +3.3%; CATS +2.9%; BNHNA +1.6%; SEAC +1.0%; DELL +0.74%... Trading Down: CPWM -5.0%; CMOS -4.4%; WIND -4.1%... Companies moving in reaction to news: Trading Up: YMI +13.5% (cleared by US FDA to initiate Phase II clinical trial of nimotuzumab in children with inoperable, recurrent brain cancer); ITT +7.1% (FAA awards first portion of air traffic control contract -- WSJ); STST +1.1% (announces stock repurchase program up to a total of 2,000,000 shares of its common stock); GOT +0.80% (announces conclusion of strategic alternatives review process; conclusion is to focus on a revised business plan)... Trading Down: AEIS -4.8% (lowers Q3 guidance to $88-92 mln vs $99.14 mln Reuters consensus); CBK -4.6% (announces appointment of Lorna Nagler as Chief Executive Officer); LEND -1.1% (Lone Star delivers letter to Accredited's board of directors proposing to amend tender offer); OVEN -0.80% (provides update on filings and continued listing; has recently added additional investigative and analytical tasks).

Formula Pivot Points - JA Solar Holdings Co., Ltd. (ADR) (Public, NASDAQ:JASO)

A few readers have asked about JASO so I'm going to review pivot points using JASO as an example and then I'll go over one that I traded today - CSCO. The first chart is a 15 min. wide range view of JASO. The green lines are visual PPs that I use to guide my trading. My definition of a PP is a price point where price pivots and changes direction - several pivots at the same price level create a significant PP.

The second chart of JASO is a 5 min. timeframe with my PPs (green lines) and the daily PPs from Esignal (right click on chart and select Formulas, then select Pivots, then select PivotPointAll.efs). I've highlighted these on the chart as P, R1 and R2. The key is to see how price reacts to the different PPs on the chart. In JASO's case, it observed P as support in the OR. The ideal entry would have been B&B with yesterday's late day highs. If that entry was missed, a second entry could have been taken after P1 was tested as support. I would not have entered long beyond that point, because price was already extended after yesterday's momo move. Also, the three WRBs from the second arrow to R2 need to consolidate. Any entry beyond that level needs close management in order to avoid a sudden reversal.




The last chart is my CSCO trade today. I missed the perfect entry at the lower blue arrow, so I waited until price had taken out the next PP level. I like the way the Esignal PPs are a very close match to my own on this chart. Because of the late entry, I let it ride and waited till it carved out a lower high to exit my position.

Next week I'm going to incorporate the Esignal PPs into my trading to see if I can generate a few more trades in my trading day - small moves between the Ps and Rs/Ss.

Dummy Gapper Trade of the Day - Tiffany & Co. (Public, NYSE:TIF)

Both of my gapper trades were developing cup & handle patterns. As I mentioned recently, since the volatility in the markets started, there have been very few gapper trades that have extended fully for me.

For the C&H pattern I place my Fibonacci extension lines from the morning swing low ( low of the cup portion of the pattern) to the base. My expectation is a 100% extension from the base. Neither TIF nor VIP were up for the task today. TIF extended 62% but did not even manage to tag the ORH and VIP was just too weak to even hold the base so I bailed for a tiny profit.

NASDAQ Technical Picture - Short Squeeze

Today's momo move was probably, at least in part due, to short covering following yesterday's gap down and late day swoon. Tomorrow and Friday will probably be very low volume due to the long weekend getaway.

Economic Calendar: Initial Claims and Pre. GDP in pre-market.

Companies moving in after hours trading in reaction to earnings: Trading Up: SIGM +13.1%; FCEL +9.9%; NOVL +1.8%; UEPS +1.5%... Trading Down: CWTR -13.2%; JAS -5.7% CTRN -5.6%; CHS -4.7%; TIVO -4.2%; PSS -1.5%; HEI -1.0%... Companies moving in reaction to news: Trading Up: BDCO +2.9% (subsidiary enters into new pipeline transportation agreement); MEMY +2.7% (commences Phase 1 clinical program for R4996/MEM 63908; trial initiation triggers $2.0 mln milestone from Roche); FRPT +2.5% (says ahead of MRAP vehicle protection schedule); VVTV +2.2% (CEO buys 110K shares at $7.98-8.1); CEPH +1.2% (announced FDA grants orphan drug designation to TREANDA, an investigational treatment for chronic lymphocytic leukemia)... Trading Down: SWC -3.1% (signs new PGM supply agreements); GGBM -2.6% (received a staff determination letter from the Nasdaq Stock Market); NETL -2.0% (acquires Cypress's Network search engine assets targeting high-volume desktop Switching); ESV -1.6% (announces additional stock repurchase authorization, of an additional $500 mln; lowers Q3 revs guidance); PH -1.3% (unit faces price-fixing allegations -DJ); GPS -1.1% (announces departure of CFO, Byron Pollitt); MCK -1.1% (Judge certifies class-action case against nation's largest pharmaceutical distributor in alleged pricing scheme); R -1.1% (to acquire Pollock NationaLease in Canada).

Watch List - Usual Suspects

As requested by several readers, here is my usual suspects, watch list of stocks:

AAPL, ADSK, AFFX, AKAM, AKS, ALXN, AMGN, AMLN, AMZN, ARTC, BCSI, BIDU, BIIB, CAL, CELG, CMI, CIEN, CROX, CSCO, DLTR, DRYS, EMC, ESRX, FFIV, FSLR, FTEK, FWLT, GME, GRMN, HANS, IBM, INTC, JASO, JCOM, JOYG, KLAC, LRCX, LEH, MDR, MNST, MRVL, NEM, NTAP, NTRI, NVDA, PAYX, RIMM, RVBD, SNDK, TECD, TEVA, VLO, VMW, VSEA

I use the Trade_Ideas scanner (above) to monitor the activity of my watch list all day. If I see high quality price activity with high relative volume, the stock will get my full attention. The alerts I focus on are 15 min OR BO, consolidation BO as well as price upticks and down ticks.

I also set alerts in Esignal for pivot points.

The watch list is highly leveraged in favor of tech stocks as I prefer NASDAQ to NYSE, however, I try to have at least one name in each of the major industry groups that move the markets.

Related Post: Compiling a Watch List - How To

Dummy Gapper Trade of the Day - Paychex, Inc. (Public, NASDAQ:PAYX)

PAYX tested support in the early going and carved out a bullish doji morning star reversal pattern. I took a partial as price approached yesterday's midday swing high and exited the balance into the close.

NTRI - Break of ORH. I was stopped out but re-entered after it printed a hammer reversal bar at the 38% Fib. retracement of the ORL to the swing high.

CFC was on my watch list from last night. I shorted the PP as planned. It started out perfectly, closing near the low of the BO bar, but stalled so I moved my stop textbook style and was stopped out. The only caveat entering this short was the gap up which caused it to lead into the trade with two fairly WRBs. I would have prefered no gap and three WRBs after the break.

NASDAQ Technical Picture - Bears Own It

Broad based selling across all tech sectors. I expect that we will likely continue in this direction, at least in the early going, tomorrow, notwithstanding any optimistic news.

Companies moving in after hours trading in reaction to earnings: Trading Up: SMTC +7.6%; DY +5.4%; PEC +1.9%; VSNT +1.9%; BGP +1.4%... Trading Down: NCTY -11.9%; LNUX -5.8%; ARUN -5.1%; DDS -3.7%; APSG -3.4%; ONAV -1.8%; CFI -1.4%... Companies moving in reaction to news: Trading Up: LEND +5.5% (Lone Star extends tender offer to acquire Accredited); STX +5.1% (raises Q1 EPS and revs guidance, above consensus); MOSY +1.9% (announces a $19.5 mln stock repurchase program); AMGN +1.6% (Court rules that Roche infringes one of Amgen's Erythropoietin patents); OGE +1.6% (announces cost recovery issue jeopardizes plant)... Trading Down: PDLI -16.7% (announces significant strategic and portfolio changes); RIO -1.1% (Brazil court rules against Comp Vale Do Rio in antitrust case -- DJ).

Watch List - 15 min. Charts

AKAM carved out a lower high and broke its intra-day trend line. I'd like to see it re-tag the trend line and set up a short in the early going tomorrow.

CFC carved out an NR7 mini gravestone doji on the daily and looks ready to fall off a cliff. This is a PP trade.

Dummy Trade of the Day - Continental Airlines, Inc. (Public, NYSE:CAL)

Yesterday I was a bit ahead of the curve on my CAL trade. Today I got it just right. Yesterday's late day selling on increasing volume was the perfect lead in to the open. Short on a break of yesterday's closing low. I knew we would get some consolidation at $30.00, but it was very orderly. I covered just as price approached $29.10 because the previous bar was hammer-like on very high volume so I didn't want to get caught in a capitulation bounce.

After a lengthy sideways basing period, CAL set up a NR B&B long all the way back up to the $30.00 PP. On a retracement basis, this was very close to 62% Fib. retracement of the last leg down (from $30.90). Small move into the close.

AFFX was my gapper play. I tried to do a sophisticated, OONR7 inspired, Fib. retracement play here. I did a Fib. retracement of the last leg down from yesterday's late day high to today's ORL. AFFX retraced 62% of that move and carved out two stars, the latter of which was red with a long upper shadow. I shorted a break of the second star, took a partial on the third WRB and moved my stop on the balance to BE. I was hoping for a little better on the second half, but it didn't happen.
BCSI was a NR B&B short with mixed results. The BO bar did not close near its low, which is one of the things I look for when I take these types of setups. It was choppy and had a wide spread at certain intervals so I kept a close watch and played it textbook which generated an early stop out.

Some stocks work better as longs than shorts. Another example that comes to mind is TBSI. I still remember one short I took in TBSI where the spread got as wide as 40 cents.

NASDAQ Technical Picture - Inside Day

A low volume inside day could be NR7 (price and volume contraction before expansion).

Today's movement, or lack of, came from lower than avg volume (1342, vs. 2283 avg), with decliners outpacing advancers (1083/1907) and with new highs in line with new lows (68/67).

Companies moving in after hours trading in reaction to earnings: Trading Up: SNDA +2.1%... Trading Down: STRM -18.6%... Companies moving in reaction to news: Trading Up: OPLK +3.9% (announces share repurchase program of $40 mln in common stock); ICON +2.9% (signs direct-to-retail license for its Ocean Pacific and OP brands With Wal-Mart); BNI +2.1% (Berkshire Hathaway buys more Burlington Northern shares - DJ); IKAN +1.4% (lowers Q3 revs guidance below consensus); AA +0.7% (to sell two soft-alloy extrusion plants; close one in Tifton, Ga); CKR +0.7% (announces $100 mln increase in its term loan and provides stock repurchase plan update)... Trading Down: COA -1.7% (suspends dividend).

After the close Friday, NASDAQ released its August short interest data, which was collected on the 15th. The stocks with the largest short interest as a percentage of the float are as follows: USNA 119%; CCRT 79%; CONN 70%; MDTL 68%; JOSB 59%; CORS 55%; HSOA 52%; TRLG 51%; MCHX 50%; PRAA 47%; LEND 46%; ASFI 46% IPSU 45%; GMTN 45%; NETL 44%... The biggest increases in short-interest as a percentage of the float, from mid-July to mid-August, are as follows: FTEK's short interest rose to 33% of the float from 22%; LPHI is up to 32% from 21%; CCRT is up to 79% from 71%; NFLX is up to 31% from 23%; POZN is up to 23% from 15%; GTRC is up to 22% from 14%; WBMD is up to 20% from 13%; DFC is up to 33% from 26%; AACC is up to 18% from 11%; FBCM is up to 20% from 13%... The biggest decreases in short-interest from mid-July to mid- August are as follows: BBND's short interest dropped to 30% from 56%; COMV down to 30% from 45%; PPCO down to 23% from 36%; LAUR down to 17% from 30%; CROX down to 19% from 31%; PARL down to 13% from 25%; MNTA down to 41% from 52%; TRMA down to 19% from 31%; IVAC down to 17% from 27%; GNTA down to 5% from 14%... NYSE short interest was highlighted in my weekend post.

Trade of the Day - NutriSystem Inc. (Public, NASDAQ:NTRI)

MRVL was gapper from Friday that did not break the ORL. I took this entry on the open in the hopes that it would extend today, but it did not reach the target. Textbook - stop placement 2 ticks above the previous bar high. Exit when price takes out the previous bar high.

NTRI is a watch list stock that set up a low risk, dummy base & break entry. It tagged the down sloping 20 EMA on the daily time frame. Nice bounce after all the weakness.

CAL set up a low risk dummy entry on a break of PP support. The target was $30.00. This one took a long time to get going and I thought I might get stopped out, but I don't move my initial stop unless the BO bar closes near its low, so I managed to stay in for 1.7 R ( lunch money).

In general, today's session was a typical August snooze fest.

CAL Testing Support

CAL is testing support at $30.83. Next PP support if this level doesn't hold is $30.00

Base & Break - Biogen Idec Inc. (Public, NASDAQ:BIIB)

The first chart is the daily timeframe. We see that BIIB has been basing at the $60.00 level for a long time. Thursday's NRB (green) was the perfect setup leading into Friday's break. As mentioned in my pre-market post this was one to watch. If you watched too long though, it ran away, so decisive action was required in the early going.

I used the 1 minute chart for my entry. After the OR, BIIB carved out a series of higher lows and I quickly picked a WR green bar as my base because the open was a bit choppy. I used a buy stop order and set my stop just below the lower blue line.

The next chart is the expanded view of the 1 minute timeframe, which shows how quickly price took flight once the initial choppiness was out of the way.

The last chart is the 15 minute timeframe. After a vertical move and three WRBs, I took a partial and tightened my stop a few pennies below the third WRB.

B&B patterns at pivot point resistance often result in vertical moves. In general, the longer the basing period, the better the BO. If you're not comfortable trading the open, you can try paper trading these at first or just entering with very small size until you develop a good feel for the pattern and the BO.

NASDAQ Technical Picture - Trendline Breach - Bullish Bias Intact

The fear factor as measured by the VXN is clearly well off of last Thursday's multi-year high and the bulls are temporarily back in control with a trendline breach. We are back in the overbought zone and month-end is just a heart beat away. A pullback in the early part of next week would help alleviate the extended short term technicals and allow a bit of room ahead of the end/start of the month positive bias. Don't want to get ahead of myself but the Fed move last Friday certainly has had a big impact in dissipating the fear factor. We've had very little in the way of pullbacks all week and the weekly chart looks like a bear trap.

Stock over $5 posting the largest percentage gain over the last five sessions include: BCSI +51, ACH +40%, WX +31%, TNH +29%, BTM +29%, BRP +29%, VMW +28%, TBSI +27%, RDYN +27%, HDNG +26%, IDP +26%, FWLT +26%, NEON +26%, ANTP +25%, SNCR +25%, NM +25%, CALM +25%, IVN +25%, FMT +24%, DRYS +24%, AXR +24%, VSEC +24%, LNDC +24%, BYI +24%, MEA +24%, GME +24%, AVCI +23%, ASIA +23%, VII +23%, LGCY +23%, MENT +21%, GTI +21%, TCHC +21%, DFC +21%, ANSV +21%, CKSW +20%

Stock over $5 posting the largest percentage loss over the last five sessions include: SNIC -25%, TWB -25% UNG -20%, GMTN -19%, FLML -19%, SBP -18%, ETEL -17%, CSUN -16%, PLCE -15%, GMET -14%, VC -14%, TDSC -14%, DEEP -14%, BIOF -14%, GSAT -14%, CCBL -13%, TMA -13%, TWP -13%, BECN -13%, TMTAD -13%, MNCP -12%, JRN -12%, SR -12%, LAD -12%, ZGEN -12%, OREX -12%, WNS -12%, OPLK -11%, JAV -11%, ICTG -11%, AAUK -11%, KNSY -11%

Companies reporting earnings the week of Aug 27th-31sth include: Monday: SNDA Tuesday: CMED, COCO, SAFM, TUES, ANEN, APSG, BGP, DY, MCRS, PEC, SMTC, LNUX, NCTY... Wednesday: BIG, BWS, CYBX, DLTR, ENER, FRED, JOYG, LAYN, WSM, CHS, CTRN, CWTR, FCEL, GEF, HEI, JAS, UEPS, NOVL, PSS, SIGM, and TIVO... Thursday: CIEN, CONN, DLM, FRE, GCO, HRB, KIRK, TIF, UNFI, VIP, ZLC, CPWM, CMOS, DLIA, DELL, ESL, LTXX, OVTI, OTEX, RSTO, SEAC, and WIND... Friday: No companies are scheduled to report.

Earlier this week NYSE released its August short interest data, which was collected on the 15th. The stocks with the largest short interest as a percentage of the float are as follows: AXR 103%; NFI 93%; BZH 73%; TOA 73%; HOV 63%; FED 60%; MWA 60%; IMB 60%; BHS 51%; TWP 51%; WCI 48%; DSL 48%; MTH 47%; HEI 45%; GDP 44%... The biggest increases in short-interest as a percentage of the float, from mid-July to mid-August, are as follows: NFI's short interest rose to 93% of the float from 67%; BZH is up to 73% from 57%; RAS up to 31% from 17%; ACA up to 21% from 10%; GDP up to 44% from 33%; RDN up to 18% from 8%; RWT up to 21% from 10%; AFN up to 26% from 16%; MTG up to 32% from 21%; FED up to 60% from 50%... The biggest decreases in short-interest from mid-July to mid- August are as follows: CDL's short interest dropped to 11% from 62%; XJT down to 15% from 33%; TSS down to 11% from 26%; TIE down to 9% form 21%; UA down to 26% from 38%; PPP down to 5% from 16%; TLB down to 38% from 47%; DJO down to 11% from 20%; AXR down to 103% from 112%; EYE down to 11% from 19%... This information is reported on a monthly basis. Not surprisingly, some of the biggest increases took place in stocks related to the mortgage/housing markets... NASDAQ short interest data for August does not appear to be compiled out yet.

Data courtesy of Briefing.com

Aislin - Montreal Gazette August 22, 2007

Trade of the Day

Despite the slow start, markets were surprisingly strong for a late summer Friday. BIIB was strong from the open - B&B at PP - a big winner for me today. QCOM was choppy but managed a small gain. AMLN was NG. I took a position in the afternoon off of two inside bars (15 min.) which was stopped out for a small loss. NTAP was good for a low risk entry on the 5 min. No gappers for me today.

I'll post some charts over the weekend. Have a good one!

NASDAQ Technical Picture - Trendline Holds as Resistance

The CFC $2 bln cash injection was optimistic going into the session but quickly turned into a fade. Very choppy trade with a minor upside was seen during the afternoon. We are facing the potential end of the first thrust off the Aug low amid a loss of momentum - bearish engulfing pattern. However, in order to realize this potential scenario look for today's early highs to hold as resistance with sustained trade under the afternoon lows developing.

Companies moving in after hours trading in reaction to earnings: Trading Up: NDSN +5.6%; MENT +4.9%; ARO +3.1%; ZINC +1.4%; GPS +1.2%... Trading Down: MRVL -8.1%; SCSC -6.8%; HIBB -5.9%; QADI -4.4%; BEBE -1.0%... Companies moving in reaction to news: Trading Up: NFI +2.8% (notes in an 8-K co entered into a Waiver Agreement with Wachovia Bank); WABC +2.3% (announces stock repurchase plan for up to 2 mln shares); HLF +1.9% (increases its share repurchase program to $450 mln); SAI +1.2% (wins GSA alliant IDIQ contract); KIRK+1.0% (notes in a 13D they cut Kirkland stake to 13%)... Trading Down: SNIC -14.4% (reports Q1 prelim revs below consensus; sees Q2 revs below consensus); XRM -2.7% (completes restatement of recent financial results; files amended annual and quarterly reports With SEC).

Dummy Gapper Trade of the Day - GameStop Corp. (Public, NYSE:GME)

As I pointed out in the pre-market post, GME was gapping up on high volume due to earnings and guidance. The pre-market high was $48.00 and when it set up a B&B long, I used the PM high as my target because I knew this would at least be a resistance point. It came within 10 cents of the target and then pulled back so I exited the trade. Quite choppy which is typical for NYSE stocks.

My beloved JOYG didn't extend. The market started to pull back shortly after my entry and the trade was doomed so I exited before being stopped out.

Pivot Point Trade - Amgen, Inc. (Public, NASDAQ:AMGN)

The first chart is the wide range 15 min. timeframe highlighting the pivot point which has been tagged several times at $50.00

As mentioned in the edit portion of the pre-market post, AMGN was on the move in early trade.


I waited till price broke the PP in close proximity of the ascending 5 period ema. A very low risk dummy entry on the 5 minute below. It was slow at first but then it accelerated into a vertical move typical of PP breakouts. I exited as price approached the round $ number $51.00.

The third AMGN chart shows that we are still on track for the $52.00 PP target after a hammer reversal last Friday and today's bullish engulfing bar.

The NTAP chart below is just a quick scalp into the close but everything lined up so perfectly that I couldn't resist. A tweezer bottom reversal at the 38% Fib. retracement of the last leg up with a bullish green hammer as a trigger bar.

NTAP is still on track for a gap fill.

NASDAQ Technical Picture - Approaching Trendline Resistance

Approaching trend line resistance and overbought levels. I know that a lot of traders delayed their vacations during the correction, but this low volume is a real concern. It implies that this rally is a dead cat bounce. We'll soon see.

Companies moving in after hours trading in reaction to earnings: Trading Up: EJ +8.8%; LTD +5.6%; ALOT +5.0%; PVH +4.1%; JDSU +3.3%; MW +3.2%; VVTV +2.9%; BLOG +2.4%... Trading Down: INTU -2.9%; GYMB -2.7%; VRGY -1.7%; GNK -1.6%; ZUMZ -1.4%; SNPS -1.3%... Companies moving in reaction to news: Trading Up: CFC +21.2% (receives $2 bln strategic equity investment from Bank Of America); IMH +10.3% (announces reduction of workforce); IDGR +7.1% (Special Committee engages Robert W. Baird as financial advisor for strategic review); ATSI +5.4.% (expands open pivot heart valve offerings); WAVE +4.8% (Director buys 552K shares at $6.6-7); NFLD +4.2% (announces SEC Staff completes investigation and does not intend to recommend any enforcement action against the Co); VICL +2.6% (Multiple NIH Phase 2 HIV vaccine trials using Vical's technology produce encouraging results); CLZR +2.0% (expands share buyback program; co now authorized to repurchase up to 2.3 mln shares); CME +1.4% (Horizon Cash Mgmt: No contact from CME On Sentinel assets -- DJ); FLE +1.0% (closes gold shield plant in Fontana, California)... Trading Down: RMBS -1.3% (announces Nasdaq Board grants co extension for continued listing; announces it receives European Commission statement of objections); HOLX +1.3% (Breast screening study finds superior performance of Selenia direct digital mammography over film mammography); NOV +1.1% (announces 2-for-1 stock split).

Watch List Trades - NTAP, JOYG, SEPR

NTAP broke out of a multi day triangle pattern on the gap open. I took an early entry on the 1 minute chart above. I took a partial at the round $ number and weaved in and out during the course of the day expecting an extension of the ORH. I went long after each hammer bar. The first attempt failed, but the second off of a higher low, succeeded.

There's still room for another trade as I expect a gap fill as outlined below.

JOYG was NR7 off of the 5 minute timeframe.

SEPR had a perfect base but I didn't take the trade because of the wide stop. I knew I would be too busy with NTAP on the open.

This is a wide range view of AKAM 15 min. - basing at the PP. Could be a trade here for tomorrow.

Dummy Gapper Trade of the Day - DryShips Inc. (Public, NASDAQ:DRYS)

Seems like a while since I had such a momo extension from a gapper long. I highlighted DRYS in blue in the pre-market post as this is also a watch list stock for me. I waited what seemed like an eternity for the this cup & handle pattern to develop, but it was worth the wait.

Typical Trader-X style, no hurry - dummy setup. I used a combination of PPs (blue lines) and the Fib. extension of the previous day low to the ORH as my guides. I took a partial at the daily pivot and closed the position as price approached resistance.

Notice how volume drys up in the handle portion of the pattern and ramps up on the BO. Price/vol. contraction before expansion. Sweet!

Lots of nice trades off the WL discussed in comments last night. I'll post a few later tonight.

NASDAQ Technical Picture - Low Volume Bounce

NASDAQ performed better than DOW and S&P today, but as highlighted above on the Qs, we are running into PP resistance.

Companies moving in after hours trading in reaction to earnings: Trading Up: DRYS +6.0% CALL +3.2%; WLSN +3.0%... Trading Down: EFUT -11.2%; CLZR -3.8%; JKHY -3.0%; MDT -2.0%; ACS -1.9%; PBY -1.3%; ADI -1.2%... Companies moving in reaction to news: Trading Up: BYI +13.1% (guides FY07 revs in-line; guides FY07 EPS; guides FY08 EPS and revs above consensus); NBIX +7.4% (has received notification that the U.S. (FDA) has accepted the Co's resubmission of its New Drug Application); TRB +3.7% (shareholders approve merger agreement); LMIA +1.9% (shareholders approve merger agreement); GETI +1.8% (reports receipt of NASDAQ staff determination letter); JWN +1.1% (announces $1.5 bln share repurchase program)... Trading Down: MOVI -9.7% (receives notices from NASDAQ); KOPN -3.1% (receives expected notice from Nasdaq due to delay in filing Form 10-Q); DAL -3.0% (announces it has elected Richard Anderson to serve as the co's CEO); MGM -1.7% (announces Jim Murren has been promoted to the role of President and Chief Operating Officer); MTEX -1.0% (Founder Sam Caster resigns as CEO, remains as Chairman).