Watchlist for May 22, 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: BCSI -26.6%, WSTL -17.2%, DKS -14.3%, CEDU -10.7%, NTAP -10.2%, BRS -8.1%, JTX -7.7% (also reports prepared 3.45 mln tax returns in 2008, a decline of 5.3% compared to the prior year), SMRT -6.7% (light volume), NTES -6.2%, GME -5.6%, CHINA -5.4% (also downgraded to Neutral at Piper), PDCO -4.0% (light volume), PETM -2.8%, SNPS -2.3%, CTRN -1.2%... M&A news: BCE -14.1% (buyout blocked in Canada court - WSJ)... Other news: NRF -4.2% (announces private offering of up to $75 mln exchangeable senior notes due 2013), TBSI -2.6% (prices a 3.4 mln share common stock offering at $51/share), HUGH -2.5% (prices a 2.23 mln share common stock offering at $50/share), RAD -2.2% (announces proposed offering of convertible notes)... Analyst downgrades: SOLF -5.2% (downgraded to Sell at tier 1 firm), AKAM -5.0% (downgraded to Sell at tier 1 firm), AATI -3.2% (downgraded to Buy from Strong Buy at Needham), MER -2.5% (downgraded to Sell at Ladenburg Thalmann), LEH -2.3% (downgraded to Sell at Ladenburg Thalmann), ASH -2.3% (downgraded to Neutral at from Positive Susquehanna), KFY -2.3% (downgraded to Sell at Merrill), AA -2.3% (downgraded to Neutral at Merrill), GS -1.8% (downgraded to Sell at Ladenburg Thalmann).

Gapping Up

In reaction to strong earnings/guidance: STP +6.7%, NDSN +9.7%, FLO +6.0%, PLCE +4.9%, SMTC +4.4%, BONT +4.0%, PERY +3.3% and SAFM +1.2% (light volume)... Select metals/mining stocks showing strength: RTP +5.2%, BHP +4.8%, AAUK +4.1%, HMY +2.5%, LMC +2.2%... Select airlines modestly rebounding after yesterday's decline: LUV +4.6%, UAUA +4.2%, AMR +3.7%, CAL +1.5%... A handful of small cap oil & gas names are ticking higher in pre-mkt in a continuation of recent momentum: CRED +9.1%, PDO +8.8%, LEI +7.8%, FPP +6.9%... Other news: BTRX +20.5% (announces agreement with Procter & Gamble), CPN +10.9% (Harbinger Capital Partners recommends Calpine review NRG Energy's proposed merger of equals), TASR +5.7% (receives 'significant' follow-on order from Australia), EAC +5.7% (to explore strategic alternatives), VOD +4.2% (still checking), ESE +2.0% (announces contract award at PTI; annual revenue expected to be approx $10-$15 mln), EPAX +1.9% (acquires BookRags for $18 mln; expected to be accretive in the first twelve months following the acquisition), WYE +1.6% (Wyeth and Progenics announce preliminary clinical trial results for Relistor oral and intravenous formulations), ENS +1.4% (Cramer makes positive comments on MadMoney; also prices a 3.4 mln share common stock offering at $29/share), FLIR +1.1% (receives $358.4 mln IDIQ contract modification from the U.S. Army)... Analyst upgrades: SPLS +2.9% (initiated with Buy at Citigroup), LVLT +2.9% (upgraded to Market Perform at Wachovia), LACO +2.4% (initiated with Buy at Morgan Joseph), PNRA +2.3% (initiated with Buy at Jefferies), ANR +1.9% (upgraded to Buy at Merrill), ROST +1.7% (upgraded to Buy at Piper).

Disclaimer & How I use this list