Watchlist for August 14, 2008

The futures took a dive this morning after a hotter than expected CPI report. The S&P and Nasdaq managed to stay near their moving averages (50 and 200, respectively) yesterday. Perhaps expiration games (yes, it's that time again) can keep them afloat today but I'm not holding my breath.

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: PMII -52.0%, LYTS -34.2% (also downgraded to Underperform at Baird), SPRD -20.5%, GRRF -16.7%, BGG -11.6%, GSOL -10.9% (light volume), COIN -9.4%, PAET -6.2%, IPI -5.3%, NTAP -4.2%, MDAS -2.0%, PMTI -1.8%... Select European financials showing weakness: ING -3.8% (trading ex-dividend), BCS -3.4% (may write down 1.5 billion pounds more, says Goldman - Reuters.com), RBS -3.2%... Other news: BSX -5.8% (Heart stents' advantage over drugs fades with time, study says - Bloomberg.com), TRLG -3.4% and NOK -1.1% (still checking)... Analyst comments: CPHD -5.5% (downgraded to Neutral at UBS), OVTI -5.0% (downgraded to Neutral from Outperform at Robert W. Baird), CT -3.7% (downgraded to Sell at UBS), ASML -2.6% (downgraded to Hold at ING - Bloomberg), GD -1.8% (downgraded to Neutral at JPMorgan), CS -1.4% (downgraded to Underperform at Merrill), LPNT -1.3% (downgraded to Mkt Perform at Leerink Swann), MDR -1.3% (downgraded to Hold at Citigroup).

Gapping Up

In reaction to strong earnings/guidance: VM +9.5%, EL +6.8%, ASYS +6.5%, IOC +6.4%, CLNE +1.8%... M&A news: HLYS +14.4% (SKX proposes to acquire co for $5.25 a share)... Select metals/mining stocks showing modest strength: BBL +3.2%, ACH +2.9%, BHP +2.9%, AAUK +2.2%, GOLD +1.9%, AUY +1.9%, AU +1.5%... Other news: PMI +25.4% (announces that it has entered into a definitive agreement to sell its Australian mortgage insurance subsidiary and related Australian holding co to QBE Insurance Group), IDEV +9.1% (announces the issuance of U.S. Patent No. 7,410,978 , entitled "Once Daily Dosage Forms of Trospium"), IVZ +7.6% (will replace IACI in S&P 500 after the close on 8/20), GMKT +4.5% (continued strength following yesterday's ~15% surge), GILT +4.2% (provides update on merger transaction following 16% decline in yesterday's afternoon trading; cos questioning whether all of the conditions of the merger agreement have been met), BKE +3.4% (will replace WHQ in S&P 600 after the close on 8/19), CROX +2.9% (up in sympathy with HLYS), UBS +2.9% (plans to focus on India, Russia, Brazil, Kurer tells Sole - Bloomberg.com), SCL +1.4% (will replace BLG in S&P 600 after the close on 8/19), LCAPA +1.3% (approves up to $300 mln share repurchase authorization), GPRO +1.2% (FDA grants full approval of PROCLEIX ULTRIO blood screening assay), TS +1.0% (still checking)... Analyst comments: KGC +3.3% (upgraded to Buy at Canaccord), DE +1.6% (upgraded to Buy at Stifel), JEC +1.4% (upgraded to Buy at Stifel), CREE +1.2% (initiated with a Buy at Cantor Fitzgerald).