Watchlist for May 20, 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 disappointing earnings/guidance: CIMT -16.1% (very light volume), CNTF -14.5%, SMOD -14.5% (very light volume after trading resumed), CSUN -9.0%, GRRF -6.5%, TMA -4.3% (also plans to announce Q1 earnings by June 2, 2008), AVAN -4.2%, HD -3.0%, ITY -2.9%... Select mining stocks showing weakness following Morgan Stanley comments that miners face a 10-20% short-term correction: BBL -4.2%, AAUK -3.3%, RTP -3.2%, BHP -3.1%, RIO -2.1%... Select China names trading lower following weakness in overseas trading: PTR -3.2%, SNP -2.8%, HOKU -2.2%, CHL -2.2% (reported slower subscriber growth last month), RCH -1.3%, CEO -1.0%... Other news: SWHC -7.6% (announces public offering of 6,250,000 shares for approx $31.9 mln net proceeds), CCL -2.3% (still checking), WRE -1.8% (announces public offering of 2.3 mln common shares), NUE -1.6% (commences a 25 mln share common stock offering), UDRL -1.5% (files for 5 mln share common stock offering and for resale of up to ~10.7 mln shares common stock by selling stockholders)... Analyst downgrades: COCO -6.4% (downgraded to Neutral at BofA), CECO -4.9% (downgraded to Sell at BofA), SEE -3.3% (downgraded to Sell at Merrill), ACGY -2.9% (downgraded to Sell at Citigroup), EMC -2.6% (downgraded to Market Perform at Bernstein), WGOV -2.3% (downgraded to Neutral at Baird), SYMC -1.1% (removed from Top Picks List at FBR).

Gapping Up

In reaction to strong earnings/guidance: NCTY +7.0%, MF +3.5%, ESLT +3.5%, MDT +3.3%... M&A news: JAZ 76.5% (to be acquired by Tower Semiconductor)... Select solar stocks showing modest strength: CSIQ +2.7%, AKNS +2.7%, SOLF +2.1%, ESLR +1.6%, FSLR +1.2%... Other news: ENA +42.5% (the co and IC Bus execute long term agreement; valued in excess of $120 mln), PEIX +7.6% (continued strength following yesterday's 40%+surge higher), SATC +7.5% (receives 10 MW order for a photovoltaic installation in Spain), PRGN +6.5% (Cramer makes positive comments on MadMoney), NFLX +5.3% (teams with Roku on player that streams movies directly to the tv; also upgraded to Overweight at Lehman) TNB +4.6% (Cramer makes positive comments on MadMoney), AMKR +2.8% (still checking), HALO +2.4% (presents pre-clinical studies on dermal remodeling with HTI-501, a lysosomal proteinase), SBLK +2.2% (Cramer makes positive comments on MadMoney), AZN +1.6% (Seroquel Court hearing brought forward to May 20 - DJ), AMGN +1.6% (announces denosumab osteoporosis study meets primary and all secondary bone mineral density endpoints in Alendronate transition study), GIVN +1.0% (study confirms PillCam COLON's potential as a complement to colonoscopy to increase colo-rectal screenings)... Analyst upgrades: EXC +1.6% (upgraded to Outperform at Credit Suisse and upgraded to Buy at Deutsche Bank), FCL +1.3% (upgraded to Add at Calyon), NVLS +1.1% (added to US 1 Portfolio List at Merrill), PDS +1.0% (upgraded to Outperform at RBC).

Disclaimer & How I use this list