Watchlist for September 17, 2008

Posted on September 17th, 2008 in Watchlists

We’ve got another gap down opening on our hands as the indices give back a lot of yesterday’s late day gains. I just hope the market doesn’t get jerked around by rumors & headlines like it did yesterday.

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: VSE -23.4% (also announces that it has commenced a 20 mln share common stock offering; downgraded to Perform at Oppenheimer), NT -17.0%, MS -14.5%, POL -9.1%… Select financial stocks showing continued weakness: AIG -43.2% (Fed to give AIG $85 bln loan and take 80% stake), IRE -11.2%, RBS -6.8%, KEY -6.8%, FITB -5.5%, GS -5.5%, MER -5.3%, WB -4.9%, C -3.2%, BAC -2.9%, CIT -2.6%, HBC -2.3%, JPM -2.2%… Select China names trading lower after the Shanghai Composite ended -2.9% to a new 22-month closing low and the Hang Seng closed -3.6%: ACH -9.3%, PTR -8.3%, CEO -7.9%, CHA -7.2%, ZNH -5.9%, SNP -5.8%… Other news: COIN -6.4% (announces redemption of Class A Warrants), NOK -3.1% (still checking), GILD -2.7% (receives complete response letter from U.S. Food and Drug Administration for Aztreonam Lysine for Inhalation, an investigational treatment for cystic Fibrosis)… Analyst comments: ZION -2.8% (downgraded to Hold from Buy at Stifel Nicolaus), CME -2.4% (downgraded to Market Perform at Keefe Bruyette), BBT -2.0% (downgraded to Hold from Buy at Citigroup).

Gapping Up

In reaction to strong earnings/guidance: ADBE +3.6%, DRI +1.5%… M&A news: SNDK +51.3% (receives $26 bid from Samsung; co’s unanimously rejects Samsung’s unsolicited proposal)… Select European financials showing strength: LYG +9.7% (Lloyds TSB and HBOS in merger talks: Source - Reuters), BCS +5.4% (reaches $1.75 bln deal for a Lehman unit - NY Times), AXA +3.3%… Other news: XIN +18.1% (still checking), ABK +8.0% (confirms limited direct exposure to Lehman Brothers Holdings and its subsidiaries), HOKU +7.4% (Tianwei commits to additional $227 mln of polysilicon from Hoku; also upgraded to Buy at Broadpoint), MU +5.0% (up in sympathy with SNDK), SOL +2.8% (still checking)… Analyst comments: ESLR +5.6% (upgraded to Hold at Citigroup), ACLS +5.3% (upgraded to Buy at Citigroup), NLY +1.6% (upgraded to Overweight at JPMorgan), AA +1.5% (upgraded to Buy at Soleil).