Watchlist for February 3, 2006

I was surprised to come back to my screen 30 minutes after the payroll report hit to see that the futures have rolled over. There was an initial rise in the futures just after the number was released but I guess once people got to dig deeper and/or think more about they changed their outlook. So it looks like those levels I talked about yesterday will be tested out of the gate today.

I see the China/Asia stocks are on fire again. Reminds me of that saying "The crowd may be stupid but they're stronger than you." It;s so tempting to try to short these things... and they will get slammed at some point. The question is will you be able to find the right spot to jump in -- assuming you can even find shares to borrow.

Also, I just heard that the WSJ has an article questioning the reason for Google's earnings miss -- Did Google Make Taxes a Scapegoat? Fun times...

On another note, if you want a StockTickr account there are about 30 left. (just click the link to sign up) I'm finding the site even more interesting now that there are so many more users. I especially like seeing the people who are at the top of the performance reports. What are their secrets??? :-)

Potential swing trades:

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

Potential day trades:

(From Briefing.com)

Gapping Down

Gapping down on disappointing earnings/guidance: AMZN -10%, FOSL -27% (guidance only), APLX -21%, FORD -19%, SFNT -15% (also downgrades from Kaufman and Stifel), ITMN -9%, ISRG -6.7%, GTW -6.5%, BKHM -5.8%, CERN -4.9%, THQI -4.4%... Other News: RHEO -71% (MIRA-1 study fails to meed enpoint; TLCV -31% owns majority stake in co, note: analysts had been pretty positive it would be a good result), TSM -5.1%, RRGB -5% (SEC investigation), ENCY -2.5%, NG -1.9% (stock offering), KFX -1.8% (prices offering), GFI -2.5% (lower gold prices), BHP -1.8%, BOBJ -1.7% (extends yesterday's 9% drop), HURN -1.6%, NOK -1.4%... Some recent huge China momentum movers taking profits, momo traders swapping into fresh names (see Gapping Up): CHNR -8%, CHDX -4%... Under $3: GLGS -55% (files for bankruptcy, C.E.O. resigns), TPPH -26% (stock offering).

Gapping Up

Gapping up on earnings/guidance: RACK +20%, MYL +7% (also Wachovia upgrade), WEBX +4%, BEAS +4% (guidance only), STXN +3.2% (also FBR upgrade), WFT +2.5%, POWI +2.5%... Other News: YMI +14% (profiled in BWeek Inside Wall St), DMC +5.4% (profiled in BWeek Inside Wall St), DENN +5.2% (Jan comps, guides), GNTA +3.5% (extends momentum, +112% in a month), TX +3% (Bear Stearns initiates with $28 tgt), SUF +2.3%, CWTR +2% (Wachovia upgrade), TXN +1.1%...China/Asian stocks keeping running: CESV +54%, BNSO +18%, JADE +15%, CAAS +15%, CTDC +12%, CHDX +12%, JRJC +11%, NINE +10%, HIHO +10%, CLWT +10%, PACT +6%, CHINA +5%, CYD +3.3%...Mad Money mentions: LIFC +10%, HXL +10%, ORA +8%... Under $3: NWD +8%, GENR +7% (on RHEO poor data), NYER +4%.