It’s looking like a rough end of the week for the bulls thanks to AIG, FNM and surging oil. Those who got caught in yesterday’s choppy session may want to read Dr. Brett’s tips on how to identify a range-bound market. The advance/decline line is one of my favorite things to watch intraday and yesterday it clued me in early. After watching it flip from positive to negative & back to positive within the first hour I had a feeling that it was going to be a choppy session.

On Today’s Calendar:

• None

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: CCOI -12.7%, LLNW -11.8%, DRQ -9.7%, AGO -9.4%, BID -9.0%, MGI -8.9%, AIG -7.4% (also announces a plan to raise approximately $12.5 billion in capital; ratings also downgraded at S&P and Fitch), BRKS -7.3%, ESIO -6.4%, ZINC -5.8%, SWC -4.9%, NGAS -4.9%, FMD -4.6%, MYL -4.1%, ICFI -3.1%, PEC -3.1% (also downgraded to Neutral at Robert W. Baird)… Select financial names showing weakness in premarket trading: CIT -2.9% BCS -2.5% MBI -2.1% DB -1.4% WM -1.2% GS -1.1% FNM -1.0%… Other news: ORA -6.4% (files for 3.1 mln share common stock secondary offering), SNY -5.2% (drops on Schweizerhall plans for Plavix copy - Bloomberg.com), NOK -2.9% (still checking), HLF -2.8% (”Fraud Discovery Institute” issues update to report on HLF related to Venezualan operations), MT -2.1% (announced that it filed suit against Esmark), HOV -1.4% (announces pricing of its 14 mln shares of common stock offering of $9.50)… Analyst downgrades: ESLR -4.8% (initiated with Sell at Citigroup), IPAS -4.3% (downgraded to Hold at Morgan Joseph), ENER -3.8% (downgraded to Neutral at Broadpoint Capital), HBC -2.2% (downgraded to Underweight at Morgan Stanley), GDP -2.0% (downgraded to Reduce at Suntrust), CELG -2.0% (downgraded to Neutral at Credit Suisse), DRS -1.9% (downgraded to Market Perform at FBR and downgraded to Hold at Morgan Joseph), SWSI -1.7% (downgraded to Sector Perform at RBC), AMSC -1.6% (downgraded to Hold at Jefferies), MCD -1.3% (hearing removed from Conviction Buy List at tier 1 firm), PSS -1.1% (downgraded to Hold from Buy at Soleil).

Gapping Up

In reaction to strong earnings/guidance: PCLN +13.7%, GSIT +12.5%, SRVY +12.4%, SYX +12.2%, DAR +10.5%, OSIR +10.5% (also Osiris and NuVasive enter into definitive agreement for Osteocel; OSIR to sell business for $85 mln to NUVA), INT +9.1%, RNWK +8.0% (also announces intention to spin off Its casual games business), AYR +7.3%, BSQR +7.2%, SD +7.2%, QSFT +6.7%, POM +5.8%, ADPT +5.5%, AES +5.4%, LUNA +5.3%, TRLG +5.0%, GUID +4.6%, RICK +4.2%, TBSI +4.1%, SLH +3.9%, ATVI +3.4% (also upgraded to Buy at Kaufman), CNQ +2.6%, SONS +2.6% (also upgraded to Buy at Jefferies), WINS +2.6%, TI +2.3%, CCU +2.2%, VRSN +2.0%, NVDA +1.5% (also upgraded to Buy at Stifel Nicolaus)… Other news: HRS +10.5% (WSJ reports that co may consider a sale), SPAR +6.7% (receives $56.4 mln order for production of MRAPs), NAT +5.9% (Cramer makes positive comments on MadMoney), SNCR +2.5% (still checking), OII +1.3% (profiled in Barron’s Online)… Analyst upgrades: FSLR +2.6% (initiated with Buy at Citigroup), RAIL +2.1% (initiated with Buy at Jefferies).

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