A couple notable names in a small list. First is MSFT. Although the Microsoft's price only fell $0.94, this was on expanded volume, a negative sign. This was on the news that Ford's Mulally, a candidate for Ballmer's desk, was staying with the auto producer. This is one to watch for two reason. For one, there is a higher volume gap open at the $29 price level, some $10 points lower than current prices. Secondly, any price decline in MSFT would put pressure on the Dow and S&P.
Second there is ULTA, which reported earnings light of estimates. Although the miss was only by about $0.02 per share, someone appears to have got wind of the late announcement before hand, as shares fell hard prior to earnings announcement (and by the way, I am pegging the inclusion of ULTA on the Dec. 5 price action and not the decimation the stock is taking today). The gap below $88 will likely be closed if not a full retracement to the high volume low at $74. The stock currently trades at about $94.
Second there is ULTA, which reported earnings light of estimates. Although the miss was only by about $0.02 per share, someone appears to have got wind of the late announcement before hand, as shares fell hard prior to earnings announcement (and by the way, I am pegging the inclusion of ULTA on the Dec. 5 price action and not the decimation the stock is taking today). The gap below $88 will likely be closed if not a full retracement to the high volume low at $74. The stock currently trades at about $94.
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