Watchlist for January 18, 2006

You don't need me to tell you that it's gonna be an ugly open (if you're long).Remember when I said the steep rally looked like a game of musical chairs to me? I think the music just stopped! You know how I feel about large gaps, so I wouldn't be chasing them down out of the gate. I want to let the panic selling abate before deciding which direction to trade. Be careful out there.

For the second day in a row del.icio.us is lagging so the new links have yet to show up on this site. (Be sure to check out the ones about the halt of trading in Tokyo. )You can see them at their real home on del.icio.us. (Note to del.icio.us: come on guys fix those RSS feeds so they update in a reasonable amount of time!)

Potential swing trades:

See one of the recent 'Chart Reading' posts for some potential swing candidates.

Potential day trades:

(From Briefing.com)

Gapping Down

Tech stocks are down accross the board. Gapping down on disappointing earnings/guidance: YHOO -12% (also downgrades from JMP Sec and Amtech), INTC -9.8% (also multiple downgrades: Citi, Piper, UBS, Lehman, Needham), NLS -23% (guidance only)... Yahoo weighing on internet stocks: GOOG -4.1%, BIDU -3.3%, MAMA -6%, TFSM -5.7%, VCLK -5.6%, AQNT -4.4%... Intel weighing on techs/chip/PC stocks: DELL -4.2%, VTSS -6%, PLAY -5%, FORD -5%, CIEN -3.9%, LTXX -5%, RMBS -4.3%, SSTI -4.2%, ATML -4%, CNXT -3.7%, ATYT -3.6%, JDSU -3.5%, RHAT -3.3%, GNSS -3.5%, STX -3.4%, SNDK -3.2%, MRVL -2.9%... Other News: DCN -8.3% (Pru downgrade to Underweight), ALTI -7.4% (profit taking after 39% jump yesterday), GTE -6%, SIFY -6% (Cramer negative), TARO -5% (started with a Mkt Perform at Leerink Swan), MEDX -3.9% (extends recent weakness), NDAQ -3.9%, AZN -3.9% (drug patent defeat - Reuters)... Asia stocks down on sell-off in Tokyo: IIJI -7%, CHINA -7%, FMCN -5.2%, MC -3.7%, EWJ -2.9%... Gold/mining stocks are weak as gold prices drop: BGO -6%, KRY -5% (also stock offering), EGO -3%.

Gapping Up

MCS +26% (declares special dividend of $7/sh), ADRX +8.5% (wins court ruling), ABP +5% (extends yesterday's 14% move), ETH +4.7% (reports DecQ), NGS +3.9% (extends yesterday's 8% move), DOX +3.6% (Sprint Nextel customer win), WIT +2.8% (reports DecQ), GEOI +2% (extends momentum; +50% in 2 weeks), ASML +2% (reports Q4), IBM +1.3% (reports Q4, beats by $0.17), TEVA +1.3% (Mad Money mention)... Under $3: MZT +44% (announces positive JAMA study).