Watchlist for May 14, 2008

Posted on May 14th, 2008 in Watchlists

The bulls liked this morning’s CPI report and are pushing the futures higher. So it looks like the Nasdaq will gap over the little double-top it formed last week at 2500 and make a move for its 200-day moving average. The S&P will open beneath last week’s high near 1422 and will need to clear that resistance before tackling its 200 DMA.

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. Also be sure to check my typical swing trade entry & exit rules.

Potential day trades:

(From Briefing.com)

Gapping Down

In reaction to disappointing earnings/guidance: ASEI -11.9%, APP -11.3%, WFMI -9.4%, MELI -9.1%, HQS -7.5%, DE -6.5%, JBX -5.5%, WCG -5.1%, TTIL -5.0%, GIVN -4.4%, MBRK -2.5%, ERTS -1.9%… Other news: IMB -6.5% (continued weakness from yesterday’s 20%+ decline), CHDX -5.0% (confirms $100 mln shelf registration; currently believes hospital division will achieve an approximately 30% increase over last fiscal year’s revenues), CAT -1.7% (down in sympathy with DE), NLY -1.4% (prices a 60 mln share common stock offering at $16.15/share), EXR -1.3% (announces pricing of public offering of Common Stock of 13 mln shares)… Analyst downgrades: ANAD -2.3% (downgraded to Perform at Oppenheimer), IPI -2.2% (initiated with Sell at Soleil), ARBA -1.9% (downgraded to Hold at Roth Capital), ZMH -1.5% (downgraded to Neutral at Robert W. Baird), CCJ -1.0% (downgraded to Neutral at UBS).

Gapping Up

In reaction to strong earnings/guidance: CAAS +20.4%, SOL +13.7%, M +9.3%, DSX +8.6%, CRME +7.1%, FSIN +7.1%, FRE +6.0%, BUF +5.6%, CVLT +5.4% (also upgraded to Outperform at Raymond James), FLML +5.1%, JOBS +5.0%, HMIN +4.3%, SNE +3.8%, DRL +2.5%, DHT +2.2%, ING +1.8%, MT +1.2%… Select solar stocks showing continued strength following strong earnings from SOL: SOLF +3.7%, AKNS +3.6%, JASO +1.9%, STP +1.6%, LDK +1.5%, FSLR +1.3%, SPWR +1.1%… Other news: XRIT +10.0% (announces Chief Financial Officer departure, appointment of interim replacement), UA +4.8% (will replace IMB in the S&P MidCap 400 after the close of trading on May 15), NFP +3.2% (will replace LIFC in the S&P SmallCap 600 after the close of trading on May 16, 2008), FNM +2.8% (up in sympathy with FRE), BHP +1.9% (rises overseas on talk Chinalco may seek stake - Bloomberg.com), OI +1.5% (Cramer makes positive comments on MadMoney), CCU +1.0% (announces settlement of litigation and amended merger agreement with private equity group co-sponsored by Thomas H. Lee Partners and Bain Capital Partners)… Analyst upgrades: RFMD +5.7% (upgraded to Buy from Neutral at Merrill), NTT +5.0% (upgraded to Buy at UBS - Bloomberg), ESLR +4.0% (upgraded to Buy at Jefferies), JAVA +2.2% (upgraded to Outperform at Wachovia), SPLS +1.6% (upgraded to Buy at Jefferies).