The NASDAQ broke its 3 day losing streak on semiconductor strength (analyst upgrades). Yesterday's positive MACD divergence (15 min.) on lower prices foreshadowed a potential reversal. BTW, if you were watching the NQ futures this morning, you would have spotted a perfect bullish wedge around 10:00 leading into that momo vertical move to the upside.Going forward, look for support at 2340 which lines up fairly closely to a 50% Fib. retracement from yesterday's low to today's high. Cont'd
Companies moving in after hours trading in reaction to earnings: Trading Up: CDIC +19.2%; PRLS +6.8%; BSET +2.2%; IRIX +1.1%; DNA +0.3%... Trading down: INTV -7.8%... Companies moving in after hours trading in reaction to news: Trading Up: EXAC +5.8% (increases guidance for Q1 and Y08); PZN +5.1% (announces March 31, 2008 assets under management; $20.4 bln vs $28.5 YoY); EFOI +1.7% (files S-3 relating to the offering by selling shareholders for sale ~2.7 mln shares of our outstanding common stock and sale up to ~3.1 mln shares of common stock issuable upon the exercise of warrants); ANGO +1.6% (offers to purchase certain Diomed assets in the United States and United Kingdom; co to pay $11 mln for assets); HRB +1.5% (Director Richard Breeden buys 2 mln shares at $21.61-21.89); BSC +0.1% (files to delay 10-Q filing due to liquidity crisis and subsequent merger with JPM)... Trading Down: PWER -17.2% (lower Q1 guidance); ACPW -11.6% (lowers Q1 revs below consensus ); PCOP -11.1% (Leslie Browne resigns as President and Chief Executive Officer); DLA -14.3% (lowers Q3 guidance; issues downside FY08 guidance); PED -4.3% (announces it will begin trading on the NASDAQ on April 22 under the new symbol "SPRO"); ROIAK -1.7% (announced that it has acquired the social networking company, Community Connect, for a transaction price of ~$38 mln dollars); PRU -1.0% (designates shelf registration statement and files prospectus supplement to effect resales of its floating rate convertible senior notes due December 15, 2037).
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