Watchlist for April 7, 2008

The bulls should be very happy with the market's ability to hold on to last Tuesday's rally. The indices held just below resistance after Tuesday and are trying to push through this morning thanks, in part, to some strength in the financial sector.

On Today's Calendar:

nothing

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. 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: SCSC -15.9% (also expands communications business internationally, acquires UK-based MTV Telecom), VIGN -12.9% (also downgraded to Hold at Roth), EVVV -8.6%... Other news: NVS -2.9% (to acquire 25% minority stake in Alcon from Nestle), YHOO -2.4% (MSFT threatened a hostile takeover of the co if they don't agree to a merger within the next three weeks - WSJ), TRMP -2.0% (comments on strategic plan), AZN -1.9% (Generic rivals loom for AstraZeneca - WSJ)... Analyst downgrades: ACGY -3.5% (downgraded to Neutral at Merrill), MGM -1.8% (downgraded to Mkt Perform at Oppenheimer), OPTT -1.7% (downgraded to Underperform at Bear Sterns), CRUS -1.4% (downgraded to Hold at Needham), SHOR -1.3% (downgraded to Underwt at JPMorgan), AMAT -1.1% (downgraded to Neutral at Credit Suisse), ELX -1.0% (downgraded to Mkt Perform at Wachovia).

Gapping Up

In reaction to strong earnings/guidance: SNP +1.6%... M&A news: LIFC +16.8% (to be acquired by Kinetic Concepts for $51.00 per share)... Select solar stocks continue Friday's momentum higher in pre-market trading: ESLR +8.3% (to double plant's size, add 350 jobs - Boston Globe), AKNS +6.6%, LDK +4.7%, STP +4.0%, CSIQ +3.8%, JASO +3.6%, YGE +3.5%, SPWR +3.0%, FSLR +2.5%... Select financial stocks showing strength: WM +15.0% (to get $5 bln - WSJ), BK +3.9%, CS +3.4%, WB +2.1%, MS +2.1%, C +2.0% (seeks $5 bln for infrastructure fund, people say - Bloomberg.com), DB +1.1%... Select drybulk shipper names showing strength following positive comments on DRYS in Barron's: DRYS +6.0% (mentioned positively in Barron's), EXM +5.8%, TBSI +4.0%, DSX +3.2%, QMAR +2.8%... Other news: GHM +5.5% (makes IBD 100 debut at #1), LMC +4.5% (still checking), BGP +3.7% (finalizes improved financing agreement with Pershing Square; lower rate, increased backstop and reduction in the number of warrants), MOS +3.4% (continued momentum from Friday's 10% surge), LSI +3.1% (Intel and LSI collaborate to redefine RAID deployment on Intel-based server and workstation platforms), ABK +3.0% (announces the creation of a team to address issues in the short term municipal markets), IXYS +2.9% (wins a further ruling against IRF in The Court of Appeals), BHP +2.4% (expects 4-5 years of double-digit oil, gas growth - Bloomberg.com), POT +2.2% (Hearing tgt raised to $225 from $180 at tier 1 firm), NWA +2.2% (Delta and Northwest revive merger talks - Financial Times), MSFT +2.0% (MSFT is evaluating its offer for Yahoo! in light of the worsening market conditions), WWE +2.0% (Cramer makes positive comments on MadMoney), EMKR +1.6% (elects new Chairman and CEO), AKS +1.6% (announces increase in spot market prices for its carbon steel products by $150 per ton for all new orders, effective immediately), PCS +1.6% (pre-releases Q108 subscriber results)... Analyst upgrades: UBS +5.9% (upgraded to Buy at Merrill), FMCN +5.4% (added to Alpha List at Piper Jaffray), SSL +4.8% (added to EMEA1 List at Merrill), AAUK +3.6% (upgraded to Buy at tier 1 firm), X +2.7% (upgraded to Overwt at Morgan Stanley), ITT +2.0% (upgraded to Buy from Neutral at Merrill), KLAC +1.9% (upgraded to Buy at Citigroup), AAPL +1.6% (upgraded to Overwt at Weisel).