Watchlist for March 27, 2006

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

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

Potential day trades:

(From Briefing.com)

Gapping Down

ENCY -46% (FDA seeks data on its Thelin drug), MXRE -11% (announces audit and risk management committee internal investigation), CBST -5.9% (FDA issues approvable letter for Cubicin, but there are labeling issues), SEPR -4.2% (weakness attributed to concerns about Medicare reimbursement concerns for Xopenex), GNBT -4.3% (negative Smart Money article), TIE -3.5% (reports material weakness in Friday night's 10-K), SVI -3% (profit taking after recent run), BOBJ -1.5%, NVLS -1.1% (Deutsche believes NVLS may have lost some PVD business to AMAT).

Gapping Up

KRY +31% (gold project approval; note stock +66% since our Jan 6 profile), HDY +27% (signs protocol with Guinea; note stock +94% since our Oct 28 profile), CALM +20% (reports Q3 results), DXCM +13% (receives FDA approval), TOD +13% (announces special dividend), SNTS +9.6% (receives FDA approval for Zegerid), MYOG +7.1% (FDA's request for more data from ENCY for its Thelin drug seen as a positive for MYOG), CBIZ +7.1% (Mad Money mention), ALNY +7% (collaboration agreements with Inex Pharma and MIT; clinical data), FTEK +7% (Mad Money mention), ZILG +6% (raises MarQ rev guidance), CLZR +6% (IBD mention), COSI +6% (announces new board member), CRXL +5.7% (Korean FDA awards licensure), RNAI +5.2%, CDE +3.3%, IDIX +3% (clinical data), DRIV +2.4% (tgt raised to $56 at Piper), PD +2.3% (Citigroup upgrade), GERN +2.3% (research agreement), CC +2.3% (Lehman upgrade), SIRI +2.2% (JP Morgan upgrade), AL +2% (Citigroup upgrade), NT +1.7% (signs 5-yr agreement)... Bird flu stocks are higher on more cases announced in Asia and MidEast: HEB +2.9%, NVAX +2.5%... Under $3: GV +20% (reports results).