Watchlist for July 29, 2008

We're set for a little bounce this morning after yesterday's shellacking. It looks like those traders who are hoping for a retest of the recent lows will have to wait a bit longer.

On Today's Calendar:

10:00 -- Consumer Confidence

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: CGNX -22.6%, NWK -20.8% (also downgraded to Hold at Needham), TRID -17.1% (also downgraded to Hold at Needham), PLXT -17.1%, ZRAN -16.7% (also downgraded to Buy at Needham and downgraded to Neutral from Overweight at J.P Morgan), BANR -14.2%, IAR -13.6% (light volume), CMP -12.7%, HLIT -10.5% (also downgraded to Neutral at Merrill), XL -10.2% (also announces $2.5 bln share offering; downgraded to In Line from Outperform at Fox Pitt), SEPR -10.1%, JDAS -10.1%, ININ -8.7%, LDSH -7.5%, ATHR -6.1%, CYH -6.0% (light volume), SNE -5.4% (also in talks to buy out Sony BMG Music - Reuters), COH -5.2%, LCAV -4.7%, MSO -4.6%, PCX -3.5%, MOS -3.4%, AATI -2.3% (also downgraded to Market Perform at JMP), RCII -2.1%... M&A news: SIRI -17.6% and XMSR -5.3% (Sirius Satellite and XM complete merger)... Select European financials trading lower following weakness overseas: BCS -5.1% , RBS -4.1% , UBS -3.7% , AXA -1.3% , HBC -1.0%... Other news: CPCI -24.6% (discloses that the it filed a voluntary petition in the United States Bankruptcy Court pursuant to Chapter 11), PSSI -2.4% (announces proposed offering of $200 mln of convertible senior notes)... Analyst comments: OVTI -4.0% (downgraded to Neutral at JPMorgan), CWTR -2.8% (initiated with Sell at Goldman - DJ).

Gapping Up

In reaction to strong earnings/guidance: TUNE +9.2% (light volume), PRGX +7.4%, SAP +6.9% (also upgraded to Buy at Deutsche Bank and upgraded to Buy at Jefferies), ALU +6.3%, WBSN +5.7% (also upgraded to Buy at Soleil), VECO +5.4% (light volume), X +5.3%, WMGI +5.3%, MTW +5.2%, UA +5.1%, MIG +4.7% (light volume), HIG +4.4%, WLT +4.3%, AMGN +4.2% (upgraded to Buy at Citigroup and upgraded to Buy from Neutral at Merrill), GTI +3.7%, ELNK +3.7%, AG +3.6%, BP +2.0%, CLR +2.0%, CR +1.5%, NOV +1.2%, SPNC +1.0%, AUTH +1.0%... Select metals/mining stocks showing strength: BBL +4.5%, MT +4.0%, BHP +4.0%, AAUK +3.9%, RTP +2.7%, GOLD +2.4%... Other monoline insurers trading higher following XL, SCA, MER news: ABK +14.9%, MBI +14.8%... Other news: SCA +82.7% (believes that its case reserves will have increased substantially as of June 30, 2008; also announces agreement with MER related to XL settlement), CNQR +6.5% (Concur Tech and American Express enter into exclusive alliance to offer corporate clients T&E expense management services), NUE +4.0% (up in sympathy with X), STP +1.9% (30MW supply agreement with Enel.si), CMTL +1.1% (receives $7.6 million of movement tracking system orders)... Analyst comments: V +1.3% (initiated with Buy at KeyBanc).