Watchlist for January 24, 2007

QQQQ is gapping up about 0.6% but I also see a few technology downgrades. For example, Goldman downgraded YHOO and I also see downgrades on EMC, INTC and AMD. This gap is taking the Naz right near yesterday's highs and the 50-day moving average. So I'm think this gap is begging to be faded. We'll see...

On Today's Calendar:

10:30 -- Crude Inventories

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

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: CLZR -18% (also Needham downgrade), AMD -6.6% (also multiple downgrades), QLGC -6.6% (also Baird downgrade), SUPX -6.4%, SAP -5.6%, ATI -3.4%, STLD -3.8%, HSY -3.6% (also names new C.O.O.), GD -2.3%, AMAG -2.2%, CHKP -1.6%... Other News: TNS -16% (co rejects buyout offer, updates outlook), NWACQ.PK -9% (Delta C.E.O. says not in merger talks with Northwest - Reuters), DSX -7% (prices offering), CAL -2.7% (JP Morgan downgrade), PEIX -2.6% (profit taking after stock ran ahead of state of the union address), YRCW -2.6%, AAV -2.2% (announces $100 mln financing), STP -1.7%.

Gapping Up

Gapping up on strong earnings/guidance: YHOO +5.4% (stock higher despite Goldman downgrade), TRCR +35%, HYSL +10% (also JMP Sec upgrade), SUNW +9% (also KKR to invest in convertible notes; also First Albany upgrade), EZPW +9.6%, CTXS +9.1%, RFMD +7.6%, SRT +5.8% (guidance only), DSPG +5.7%, STX +4.3% (also multiple price tgt increases), IDTI +4.1%, GLW +3.5%, NYB +1.1%... Other News: DMGI +33% (announces deal with Apple), MDCO +6% (co decides to not go ahead with stock offering), NXY +5.1% (extends recent momentum on takeover speculation), CSIQ +4.7% (announces contract with SolarWorld), MT +4.2% (extends recent move following favorable Dutch court ruling on Dofasco), NICH +1.9% (extends yesterday's 9% move on earnings report), EMC +1.4% (Bear Stearns upgrade), NOK +1.1% (up in sympathy with RFMD), SIRI +1.1%.