I can’t take it anymore — this week is like watching paint dry. I’m taking the rest of the week off. Look for regular posting to resume after Labor Day.

On Today’s Calendar:

  • 10:35 — Crude Inventories

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: JCG -9.2% (also downgraded to Hold at Brean Murray), SOLF -8.6% (also signs letter of intent for three year supply agreement with Q-Cells), SOLR -7.6% DDS -2.6% (light volume)… Select airlines trading lower with crude higher: LCC -7.4%, UAUA -6.7%, AMR -4.9% (also downgraded to Sell at Citigroup), CAL -3.6%, DAL -2.8%, JBLU -1.5%… Select solar names trading lower following disappointing earnings from SOLR and SOLF: SOL -2.2%, YGE -2.0%, STP -1.9%, CSUN -1.2%… Other news: CEGE -69.6% (halts VITAL-2 GVAX trial in advanced prostate cancer), NEXM -53.7% (announces decision not to submit a new drug application for NM100060), AMLN -11.2% (Amylin Pharmaceuticals and Eli Lilly provide context for FDA alert for BYETTA; also downgraded to Sell at Soleil), DNDN -7.1% (down in sympathy with CEGE who halted cancer drug trial; DNDN also has ongoing cancer drug trial), BMY -1.5% (Pfizer and Bristol-Myers Squibb reported that an early evaluation of results from a Phase III study of apixaban did not meet primary endpoints), GS -1.2% (third quarter ests cut by Morgan Stanley- Bloomberg), LLY -1.1% (Amylin Pharmaceuticals and Eli Lilly provide context for FDA alert for BYETTA)… Analyst comments: SQNM -2.8% (initiated with Below Average at Caris; tgt also raised at Lazard).

Gapping Up

In reaction to strong earnings/guidance: APSG +9.6%, CHL +2.6%, PTR +1.4% (light volume)… M&A news: IKN +9.3% (agrees to be acquired by Ricoh for $17.25/share in cash)… Select mortgage/financial names showing modest strength: FRE +10.3% (S&P affirms Freddie Mac Sr. Debt Rating, others on creditwatch, lowered; also Bloomberg reports that Fannie, Freddie mortgage profit reaches 10-year high), FNM +8.2% (Bloomberg.com reports that Fannie, Freddie mortgage profit reaches 10-year high), MTG +3.5%, MER +1.5% (Bloomberg.com reports that Temasek has ‘great confidence’ in Merrill’s CEO Thain and plans to raise its stake — this follows positive comments from Temasek yesterday as well), LEH +1.4% (Private equity groups in running for Lehman unit - Financial Times), PMI +1.1% (light volume, claims-paying resources unaffected by S&P’s actions)… Select oil/gas names showing strength with crude higher: ROYL +8.2%, PDO +4.1%, HK +3.5%, BP +1.6%, RDS.A +1.0%… Other news: ACH +4.6% and LFC +2.8% (trading higher following strength in overseas trading), ALU +4.2% (rises for second day on speculation Quigley to be CEO - Bloomberg.com), WEL +3.5% (CFO bought 50K shares at $2.87-2.91 on 8/26), MNRO +1.0% (Cramer makes positive comments on MadMoney).

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