DOWNSIDE ALERTS (loing for Real Time)

(-) BIG (-10.6%) forward guidance disappoints.

Trading Analysis-

The stock is steady in the red through the pre-market, but it has spent the bulk of the session on an upward trajectory, rising from a low of 12 to current highs at 14.63. Buy momentum remains firm at the highs, perhaps an indication BIG has legs to hold a floor here or roll to fresh near-term highs.

UPSIDE ALERTS (login for Real Time)

(+) NOVL (+4.7%) company posts mixed quarterly results.

Trading Analysis-

The stock is holding a light-volume range between 3.85 and 4.00, although volume has been on the light side this morning. The range is consistent with what we recorded in Thursday’s after-hours trade after NOVL posted its numbers. We noted last night NOVL consistently sees more aggressive, same-direction follow-on trade in the regular session following an extended-hours earnings event (See Historical Insight below). As a result, longs may want to watch current levels to see if this area holds as a floor – a bottom that could perhaps support bumps above 4.00 later in today’s session.

Historical Insight-

NOVL is a strong performer between the sessions, demonstrating a consistent tendency to follow through with more aggressive, same-direction next-day movement following its evening earnings events, posting more robust next day trade following 14 of the last 18 after-hours earnings events we've tracked. In the near-term, the stock is maintaining its follow-on trend, adding to its after-hours performance in next-day trade in three of the last four events.

(+) HIG  (+27%) guides earnings view above Street estimates.

Trading Analysis-

Stock is only recently throttling back from a pre-market high of 9.88 after scoring a heady upside run from a starting level of 7.10. Sell momentum is active off the high, but buyers have not answered with any kind of significant liquidity yet so it’s unclear where they may look to establish a near-term floor. On the way up this morning, HIG recorded some of its most aggressive upside liquidity between 8.10 and 9.00.

ETF RECAP

Active-volume exchange-traded funds in Thursday's regular session:

SPDR S&P 500 (SPY): -2.3%

iShares S&P 500 (IVV): -2.9%

PowerShares QQQ (QQQQ): -2.8%

Select Financial Sector SPDRS (XLF): -1.1%

iShares Russell 2000 (IWM): -3.3%

iShares Russell 1000 Growth (IWF): -2.9%

SPDR Gold (GLD): -0.9%

iShares MSCI Emerging Markets Index (EEM): -4.3%

United States Oil Fund (USO): -6.9%

Active-volume extended-hours movers:

SPY, -1.7%

QQQQ, -1%

USO, -2.9%

DIA, -0.9%

IWM, -1.6%

ETF Power Play Housing-focused ETFs have seen considerable upside this week, a week that included a surge in mortgage applications and falling interest rates, including on broader home loans. Continued calls for lower interest rates could keep up the action in these funds. But worries about job losses and the impact from those losses on the broader economy continue to challenge the thinking of investors hungry for bargain-basement housing shares. On Thursday, the SPDR S&P Homebuilders (XHB) gained 4.3%. The iShares S&P U.S. Home Construction (ITB) rose 4.5%.