Watchlist for June 1, 2006

The futures managed to rise into positive territory after the 8:30 economic numbers. I'm doubtful that the market will do much today ahead of tomorrow's jobs report but, like they say in the sports world, that's why we play the games. I'm content to sit in cash as long as trading is inside of yesterday's range.

The metals & mining stocks should provide some good opportunities today though. I'm hunting for shorts in that space...

Oh yeah, oil & natural gas inventory reports hit at 10:30

Potential swing trades:

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

Potential day trades:

(From Briefing.com)

Gapping Down

FLSH -10.3% (has begun a review on stock option grants, delays offering), NOVL -10% (reports AprQ, Cresit Suisse downgrade), DXPE -8% (files shelf registration), PSUN -5.7% (disappointing May comps), CREE -3.4% (Piper lowers tgt to $27 following contract announcement), PTR -3.2%, TTM -3%, LCC -2.5% (shareholder to sell 3.05 mln shares in a secondary offering), BVN -2.2%, ATYT -2.1% (profit taking after 9% move yesterday), RDS.A -2.1%, CBST -2% (prices convert offering), TOT -1.8%, SPWR -1.7% (prices offering)... Gold/mining stocks under pressure as gold prices fall sharply in pre-mkt: EZM -6.4%, SLV -5%, NXG -4.8%, GFI -4.6%, CDE -4.4%, AUY -4.1%, AU -3.7%, GG -3.5%, NTO -3.5%, RTP -3.4%, AAUK -3.3%, GLD -2.9%, BGO -2.6%, PAAS -2.3%, PD -2%.

Gapping Up

TRMM +15% (NY Post article says Cardtronics looking at buying the co), CUTR +8% (Lazard upgrade), CIEN +6.5% (reports AprQ), DESC +6.5% (Merriman upgrade), DBRN +5.2% (reports AprQ, May comps, CL King upgrade), RMBS +4.9% (WSJ article reports emails from Micron and Hynix which could support allegations by Rambus), IRBT +4.5%, OSIP +4.1% (Phase 2 Macugen data), FNSR +3.9%, CBH +3.8% (to be added to S&P 500), SIGM +3.2% (reports AprQ), PDC +2.5%, AA +2.5% (reaches labor agreement with USW), CHS +2.3% (May comps), GILD +2.2% (JP Morgan upgrade), DRTE +2% (Bear Stearns upgrade), GOOG +1% (positive broker comments following analyst conf call)... Under $3: CTIC +11% (makes agreement with FDA re Xyotax), IIP +7% (CIBC upgrade).