Watchlist for March 4, 2008

See one of the recent 'Chart Reading' posts for some potential swing candidates. Also be sure to check my typical swing trade entry & exit rules.

Potential day trades:

(From Briefing.com)

Gapping Down

In reaction to weak earnings/guidance: JTX -21.1%, OMPI -15.7%, CLWR -13.4%, NCS -10.8%, BKS -10.0% (also downgraded to Underweight at JPMorgan), CCRN -9.1%, PMI -5.8%, XIN -5.6%, SLXP -5.3%, LF -5.2%, HMIN -4.4%, PBR -2.8%, SD -1.9%, AVAV -1.6%... Select technology stocks showing weakness following INTC cautious guidance: SNDK -5.0%, NOK -3.9%, ALU -3.1%, ERIC -2.7%, INTC -2.0% (lowers Q1 gross margin forecast due to lower NAND flash memory prices), AMD -1.0%... Select financial stocks showing weakness following multiple negative news stories: HBC -3.4%, C -2.8% (Gulf investors not enough to rescue Citigroup: Dubai - Reuters), UBS -2.3%, BCS -1.9% ('questioned over terrorist blacklist' - Daily Telegraph), BSC -1.1% and LEH -1.1% (Wachovia cuts estimates on BSC, LEH, MS and GS), MER -1.1%... Select chinese names trading lower following weakness in overseas trading: ACH -4.4%, LFC -3.9%, CHU -3.8%, PTR -3.1% (may build refinery in Singapore, according to paper - Reuters), CHA -2.8%, CN -2.2%... Other news: CTIC -30.2% (submits European MAA for Xyotax and announces that it will issue approx $51.7 mln of new 9% Convertible Senior Notes due 2012 ), VSE -10.2% (still checking), USBE -7.6% (still checking), CETV -5.3% (to offer $425 million of senior convertible notes), TMA -3.0% (Moody's downgrades Thornburg to Caa2 and downgraded to Underperform from Sector Perform at RBC ), ASML -2.7% (still checking), SNY -1.9% (evaluating legal options on German court ruling - DJ)... Analyst downgrades: EOG -3.1% (downgraded to Underperform at Oppenheimer), HWCC -3.1% (downgraded to Hold from Buy at BB&T), TEX -2.9% (hearing downgraded to Neutral at tier 1 firm), BBY -2.4% (downgraded to Neutral at BofA), ACC -2.3% (downgraded to Sell at Citigroup), NOVL -1.7% (downgraded to Hold at Jefferies), COP -1.0% (downgraded to Equal Weight at Lehman).

Gapping Up

In reaction to strong earnings/guidance: QSC +19.9% (approves 7 mln share buyback), , BITS +14.9%, SNTS +12.9%, TSL +9.2%, SUPG +8.6%, OVEN +7.6%, FNSR +5.3%, PRFT +5.0%, BEXP +4.9%, FLML +4.4%, MNKD +2.7%, IPCS +1.4%... Select gold stocks showing strength on higher spot prices: GFI +2.1%, AAUK +1.5%, AU +1.1%, AUY +1.0% (Cramer makes positive comments on MadMoney)... Other news: CHRD +14.2% (announces $25 mln stock repurchase authorization), BRL +10.6% (announces favorable ruling in Yasmin patent challenge), SGMS +6.5% (still checking), RAME +4.9% (says full year reserve replacement rate of 1500% with drilling and acquisition cost of $15 per boe), GCO +3.6% (announces agreement for termination of merger agreement and settlement of all litigation), FRPT +2.2% (announces the appointment of Michael Moody as Chief Executive Officer, President, and Chairman), ESI +1.8% (Blum Capital discloses 8.4% stake in SC 13D filing), CPLA +1.6% (announces authorization of the repurchase of up to $50 mln of the co's common shares), AEM +1.5% (Cramer makes positive comments on MadMoney), JASO +1.4% and LDK +1.2% (up in sympathy with TSL)... Analyst upgrades: LLNW + 6.1% (upgraded to Hold at Jefferies), SKS + 4.5% (upgraded to Peer Perform from Underperform at Bear Stearns), ETN + 3.8% (hearing upgraded to Buy at tier 1 firm and added to Conviction Buy List), ASIA + 2.9% (initiated with Buy at Kaufman), CAVM +2.9% (upgraded to Overweight at Thomas Weisel).

Disclaimer & How I use this list