Watchlist for August 8, 2008

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: PRX -22.5%, ANAD -21.6% (also downgraded to Market Perform from Outperform at Morgan Keegan), KNOT -20.8% (also downgraded to Hold at Deutsche Bank), CCOI -19.8%, LAVA -14.9%, OMNI -10.8% (light volume), JSDA -10.7%, EMKR -10.3%, FNM -10.3%, HTZ -8.2%, XOMA -8.0%, GFF -7.3% (also announces 20 mln share common stock rights offering at an exercise price of $8.50), KRG -7.0%, NCTY -6.0% (also downgraded to Hold from Buy at Brean Murray), CROX -5.1%, DNEX -3.8%, PANL -3.8% (light volume), DIVX -3.6% (light volume), HANS -3.0% (also downgraded to Neutral at JPMorgan and downgraded to Hold at Lazard Capital), PARL -2.6% (light volume), ELX -2.6%, LMNX -1.7% (light volume)... Select metals/mining names showing weakness with lower spot prices: HMY -8.6%, GFI -8.1%, GOLD -5.5%, LMC -3.1%, AUY -3.0%, MT -2.2%, SLV -1.6%, GLD -1.6%, RTP -1.6%, ABX -1.5%... Select oil/gas names trading lower with continued pullback in crude: STO -3.6%, E -2.9%, TOT -2.3%, RDS.A -1.6%, BP -1.4% (confirms 500,000 B/D Azeri oil cut on shut dn, according to broker - DJ)... Other news: ABAT -22.6% (to raise $12 mln in private placement), MTL -6.1% (postpones preferred share sale indefinitely - DJ), FRE -5.9% (down in sympathy with FNM)... Analyst comments: BAC -1.6% (downgraded to Neutral at UBS), ROST -1.4% (downgraded to Hold at Citigroup), VOD -1.4% (downgraded to Neutral at Goldman - Bloomberg).

Gapping Up

In reaction to strong earnings/guidance: QLTY +66.7%, POWR +35.6%, BECN +17.9% (light volume), ENOC +11.9%, QSII +10.2%, SAPE +10.0% (also added to Top Picks List at FBR), INT +9.3%, FSYS +8.5% (also upgraded to Buy from Hold at Canaccord), FRP +8.2%, MBI +8.1%, MIDD +7.4%, PEGA +5.1%, PCR +4.7%, NVAX +4.2%, NTLS +3.5%, CHINA +3.3%, ALKS +3.0%, RBA +2.9%, RBS +2.9%, AGO +2.3%, AIRM +2.1%, APKT +2.0% (also upgraded to Buy from Hold at Cantor Fitzgerald), SD +1.9%, BRKS +1.6% (light volume), LYV +1.4%, ROSE +1.4%... M&A news: MIVA +53.8% (blinkx proposes acquisition of MIVA for $1.20 per share in cash)... Select airline stocks showing strength with crude trading lower: CAL +5.8%, LCC +4.9%, RYAAY +3.3% (also Ryanair's O'Leary eyes Stansted takeover - Daily Telegraph), AMR +3.2%, LUV +2.3%, UAUA +1.0%... Other news: ABK +8.9% (up in sympathy with MBI), S +6.0% (confirms no longer pursuing private placement of convertible preferred stock; also Google named as Sprint Nextel buyer - The Inquirer ), SNY +3.0% (gets fast-track review for Multaq heart drug), MCD +1.0% ( global comparable sales up 8.0% in July)... Analyst comments: Q +7.9% (upgraded to Overweight at Morgan Stanley), EXLS +2.9% (upgraded to Market Perform at FBR), AXA +1.0% (upgraded to Buy at Merrill).

Disclaimer & How I use this list