Watchlist for June 16, 2008
By Michael on Jun 16, 2008 in Watchlists
Oil bears must be running scared this morning after Saudi Arabia announced an increase in oil production and the price of oil actually rose 3%. (If it’s supposed to go down but it goes up instead that’s some serious trouble for the shorts.) That surge in oil to a new all-time high, along with the Empire State index, is weighing on stock futures.
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 disappointing earnings/guidance: TXT -5.5%, ITW -1.7%… M&A news: AW -4.2% and RSG -3.0% (Republic Services and Allied Waste confirm merger discussions)… Select airlines showing modest weakness with crude hitting new all time highs: UAUA -2.9%, DAL -2.3%, CAL -2.2%, AMR -2.0%, NWA -1.9%, LCC -1.4%… Other news: ACAD -55.8% (announces results from ACP-104 phase IIb schizophrenia trial; did not meet its primary endpoint), CDS -5.1% (filed for $70 mln mixed shelf offering before the close on Friday), MNI -4.7% (reports that revenues in May 2008 decreased 15.1% and advertising revenues were down 16.6% from May 2007), DSCO -2.7% (files for a $150 mln mixed shelf offering)… Analyst downgrades: OMX -3.3% (downgraded to Neutral at Credit Suisse), UL -3.2% (downgraded to Sell at UBS), T -1.9% (downgraded to Neutral at UBS), IVGN -1.7% (downgraded to Neutral at BofA), WLK -1.6% (downgraded to Neutral at UBS), VZ -1.5% (downgraded to Neutral at UBS), GE -1.3% (downgraded to Neutral at JPMorgan).
Gapping Up
In reaction to strong earnings/guidance: TITN +7.9%… M&A news: SRVY +15.1% (to be acquired by Quadrangle for $15.50 per share), SIRI +8.7% and XMSR +8.3% (FCC staff backs XM-Sirius merger)… Select agriculture names showing strength with Citigroup raising fertilizer price forecasts: TRA +2.1%, AGU +1.6%, CF +1.3%… Select metals/mining stocks showing strength with higher spot prices: AAUK +4.1%, LMC +3.9%, GOLD +3.1%, DROOY +1.5%, BHP +1.4%, BBL +1.3%, RTP +1.1%… Other news: SUPG +12.7% (co’s JAK2 Inhibitor, SGI-1252, inhibits in vivo tumor cell proliferation), BCS +8.3% (says share issue ‘under consideration’ - Financial Times), RAME +7.9% (Cramer makes positive comments on MadMoney), TEVA +5.2% (AZILECT 1mg tablets meet end points in ADAGIO Ph. III trial), CPST +4.9% (announces that it has received orders for new microturbine systems with orders are valued at approx $1.5 mln), CY +2.6% (still checking), AIG +1.7% (names Robert B. Willumstad Chief Executive Officer), SNHY +1.0% (Cramer makes positive comments on MadMoney)… Analyst upgrades: SPWR +4.8% (upgraded to Outperform at Credit Suisse), SNDK +2.2% (upgraded to Market Perform at JMP), ESI +1.8% (upgraded to Buy at Stifel), GME +1.1% (upgraded to Neutral at Goldman - DJ).
Disclaimer & How I use this list
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1 Comment(s)
By Steve C on Jun 16, 2008 | Reply
I’m waiting for the blowoff top in oil before I buy DUG…. Mike, do you have similar thoughts?