Watchlist for December 3, 2007

I think the key levels to watch right now are the November 14th highs on the Nasdaq and S&P 500. Both indexes stalled there on Friday and the S&P is also stuck at its 200-day moving average. Both indexes are short-term overbought, so some backing & filling wouldn't be surprising.

On Today's Calendar:

10:00 -- ISM Index

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

In reaction to weak earnings/guidance: PAY -16.7% (anticipates restatement of 2007 quarterly financial results, reduces previously reported pre-tax income amounts), CHG -3.0% (revises Y07 guidance), UNH -2.7%, ABC -1.8%, MET -1.4% (issues guidance)... Other news: UFS -21.9% (Governor of Saskatchewan withdraws from memorandum understanding), PRKR -18.6% (mentioned negatively article in Barron's; this morning co issued response to article to "correct errors and factual inaccuracies and to clarify information"), CHU -6.1% (still checking), RTP -3.7% and BHP -1.6% (RTP CEO says BHP's offer 'far away' from true valuation - Daily Telegraph), UNG -3.0% (still checking), AMGN -2.4% (announces interim results of Aranesp), AAUK -2.4% (rumors of potential merger between AAUK and Xstrata - Guardian Unlimited), WEN -2.4% (Peltz unlikely to get funding for WEN's bid from C and MER - Reuters), NKE -1.3% (Reuters reports Adidas rose with mkt talk that NKE and Asics may be interested in the co)... Analyst downgrades: ETFC -12.0% (downgraded to Sell at BofA; Cramer makes bearish comments on MadMoney), AG -1.8% (downgraded to Hold at Stifel), RIMM -1.6% (downgraded to Market Perform at Morgan Keegan).

Gapping Up

M&A news: UAPH +25.4% (acquired by AGU for $39/share), ATVI +21.9% (ATVI and Vivendi Games announce plan to merge; Vivendi Games will be converted into ATVI shares at $27.50)... Other news: ONT +20.0% (UL has selected ONT's ON2 Flix Publisher to provide enterprise video encoding and delivery services), SKM +10.5% (Reuters reports SKM agreed to buy stake in broadband provider HanaroTelecom for $1.18 bln in cash), TRB +3.1% (FCC approved ownership waiver from regulators), ERIC +2.2% (selected by DT for 5 year managed service contract), BGC +2.2% (positive remarks in Barron's, Don Hayes recommendation), WPPGY +2.1% (DELL makes advertising pact of $4.5 bln), SAP +1.5% (declines comment on mkt talk of possible MSFT bid for IT - Reuters), TC +1.5% and GMO +1.7% (Cramer makes positive comments on MadMoney), MHS +1.5% (ABC signs letter of intent with MHS as prime vendor for mail-order wholesaler services), TIF +1.1% (announces strategic alliance with Swatch for watch distribution), PSPT +1.1% (confirms receipt of unsolicited proposal to be acquired for $15/share), DT +1.0% (selects ERIC for 5 year managed service contract), IBM +1.0% (announces repurchase of up to $1 bln of stock)... Analyst upgrades: NFLX +3.7% (upgraded to Buy at Piper Jaffray), PCU +2.1% (initiated with Overweight at HSBC), TIE +1.6% (initiated with Buy at Citigroup), CBEY +1.5% (upgraded to Outperform at Wachovia).