Good Wednesday. We had a pretty nice day yesterday but did not close any positions. Our Buy Pick of the Day was in 
AMR Corp. (AMR). The airline company moved their earnings report to next Monday. We entered at 7.00 and were looking to exit at 7.14 – 7.28. Luckily, the stock opened at 7.20 and moved to the high side of our range where I exited with a limit for a 4% gain. AMD,our Play of the Week, looked poised to make a huge run after INTC had great earnings, but the market could not sustain the gains. AMD opened a t7.82 just two pennies outside of our range. LIke I said yesterday, I took half of my position off at 7.78 for a 3% gain. I am holding the other half, but we are still up over 1%.
Finally, we got involved with a two-day Overnight Trade with Marriott International (MAR). We got involved at 31.95 and were looking for 4-6% gains in the range of 33.20 – 33.55. MAR hit a high of 32.23 but has come down some. It is looking like MAR is going to be a typical Overnight Trade as it is pretty much in line with where we started with it.
Overnight Trade: Fairchild Semiconductor Inc. (FCS)
Analysis: Semiconductors may be the gem of Q2. We saw a great earnings report come out from Intel Corp. (INTC) last night as the company majorly beat expectations, revenue estimates, and future earnings estimates. The company opened with a 5% gain, and we are hoping for something similar for Advanced Micro Devices (AMD) and now Fairchild Semiconductor Inc. (FCS). Fairchild is a power analog, power discrete, and certain non-power semiconductor manufacturer. They produce semiconductors for cars, computers, and other commercial devices. They are right in the
mix there with Intel and AMD. Reporting tomorrow morning, FCS is expected to report an EPS of 0.31 vs. one year ago’s loss of -0.03.
What first attracts me to FCS is the fact that the company is poised to move to a profit on a year ago. This is a key metric for successful Overnight Trades. Investors are always attracted to companies that show a move to profits from one year ago. Further, FCS is poised to make a fifth straight quarter of sequential growth. Last quarter, the company reported an earnings of 0.25. Therefore, even a meet will continue to show great signs,…
