Watchlist for June 10, 2008

A global selloff and commentary from Fed officials are weighing on the market this morning. Defending yesterday's lows would be big for the bulls, especially on the Nasdaq, which would also mean defending the 50-day moving average.

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 strong earnings/guidance: CMGI -18.1% NBF -5.7%, NX -3.8%, TXN -1.5%... Select metals/mining stocks showing weakness with lower spot prices on a stronger dollar: DROOY -5.1%, LMC -4.2%, MT -3.2%, BBL -3.2%, RTP -3.2%, HMY -3.1%, GFI -2.8%, BHP -2.7%, AUY -2.4%, AU -2.3%, FCX -1.7%, RIO -1.6% (DJ reports the co is planning to raise at least $30 bln in order to finance an overseas acquisition), AAUK -1.5%, GOLD -1.1%... Select oil/gas names showing weakness: ACGY -5.5%, WNR -5.0% (initiated with a Sell at Soleil), E -3.1%, BP -2.2%, TOT -1.8%, RDS.A -1.6%, XTO -1.3% (announces acquisition of Hunt Petroleum for $4.186 bln in cash and stock; increasing production FY08 growth)... Select airline stocks showing weakness with strength in crude oil: LUV -8.4% (trading ex-dividend), UAUA -4.3%, AAI -4.3%, CAL -4.0%, AMR -2.9%... Other news: ALXA -8.5% (announces preliminary results from its AZ-002 Phase 2a trial; study did not meet its primary endpoints), TMX -7.6% (Telmex Internacional spun off from Telefonos de Mex in December and will begin trading today), VE -6.2% (trading lower after weakness in overseas trading), SQNM -6.1% (discloses that it was named as a defendant in a complaint filed by plaintiffs BEC and Orchid Cellmark), SHPGY -4.2% (still checking), TS -3.5% (still checking), BWP -3.4% (announces offering of 10 mln common units), WLT -2.9% (announces public offering of 2.8 mln of common stock), TEVA -2.5% (still checking), ALU -2.5% (still checking)... Analyst downgrades: NVDA -3.7% (downgraded to Sell at FTN Midwest), Q -2.9% (downgraded to Underperform at Raymond James), LINE -2.8% (downgraded to Underperform at Merrill), LEH -2.6% (downgraded to Market Perform at Wachovia and downgraded to Neutral at Credit Suisse), MDR -1.8% (downgraded to Add at Calyon), CLR -1.6% (downgraded to Hold at Deutsche Bank).

Gapping Up

In reaction to strong earnings/guidance: SHFL +11.2%, PBY +7.7%, PLL +1.2%... M&A news: HIRE +44.2% (discloses that it entered into an Agreement and Plan of Merger with US Investigations Services and a Hercules Acquisition; each share to receive $15.60 in cash), CADA +5.3% (to be acquired by an affiliate of Great Hill Partners for $40.50/share)... Other news: AMSC +20.8% (receives $450 mln follow-on order from China's Sinovel Wind), URI +15.4% (announces planned tender offer to repurchase up to 27.16 mln shares of its common stock through a modified dutch auction at a price not less than $22 nor greater than $25 per share), BPAX +6.9% (engages Deutsche Bank as its strategic advisor), HK +3.2% (Cramer makes positive comments on MadMoney)... Analyst upgrades: CNXT +5.5% (upgraded to Buy at Jefferies), SM +1.3% (upgraded to Buy at Merrill).