Watchlist for August 21, 2008

Posted on August 21st, 2008 in Watchlists

It’s a familiar story this morning — oil’s up, concerns over the financials are swirling and the stock futures are indicating a gap down opening. Let’s see if the bulls can keep this week’s lows from breaking…

On Today’s Calendar:

10:00 — Leading Indicators
10:00 — Philadelphia Fed

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: JDSU -11.8%, HOTT -9.8%, CRM -9.6% (also downgraded to Neutral at Piper), ISSC -9.6%, SNPS -7.4% (also downgraded to Sell at Citigroup), GME -6.8%, FRO -5.7%, LYTS -4.5%, PVH -3.1%… Select mortgage/financials showing continued weakness: RDN -11.8%, FRE -10.5%, FNM -8.4%, FMD -7.6%, ABK -7.3%, LEH -4.6% (FT reports LEH held secret talks to sell up to 50% of its shares to South Korean or Chinese parties but failed to reach agreement with either), WM -4.4%, IBN -4.3%, MBI -3.7%, LYG -3.2%, HBC -2.7%, COF -2.4%, BAC -2.0%, MER -1.5%… Select airline names trading lower with strength in crude and following WSJ story that airlines are predicted to lose billions: LCC -8.8%, UAUA -7.5%, AAI -7.3%, DAL -6.3%, CAL -5.3%, AMR -4.6%, JBLU -2.7%.

Gapping Up

In reaction to strong earnings/guidance: LTD +5.7%, BYI +5.6%, PLCE +5.3%, CHMP +3.9%, DKS +1.3%… M&A news: THRM +39.1% (receives unsolicited acquisition proposal for $5.50/share)… Select metals/mining stocks showing modest strength: HL +4.1%, ABX +3.4%, AUY +2.9%, HMY +2.5%, GOLD +2.5%, SLW +2.3%, AU +2.2%, GFI +2.1%, GLD +1.5%… Select small cap oil/gas names trading higher: PDO +8.6%, FPP +6.2%, ROYL +3.9%… Other news: NOVN +7.1% (signs license and supply agreements with Procter & Gamble Pharmaceuticals for patches to treat HSDD), DGP +4.8% (still checking), SGLP +2.9% (CFO says co has “sufficient liquidity to operate” - DJ), CREL +1.9% (stated that it is in discussions with a third party regarding a potential sale of Corel), NCC +1.4% (has hidden treasure: $1 billion stake in Visa - Bloomberg.com)… Analyst comments: ACI +3.1% (upgraded to Buy at UBS), PCU +2.2% (upgraded to Neutral at Merrill), MEE +2.1% (upgraded to Buy at UBS), WCG +1.5% (initiated with Buy at BofA), FCL +1.5% (upgraded to Buy at UBS).