Watchlist for September 18, 2008

Posted on September 18th, 2008 in Watchlists

The futures are up, although well off their pre-market highs, after some more PPT action this morning. Let’s see if the bulls can follow through on this early strength…

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: APOG -15.6%, PLD -12.8% (also downgraded to Hold from Buy at Deutsche Bank and downgraded to Sector Perform from Outperform at RBC)… Select airlines showing weakness with crude higher: UAUA -9.4% , AMR -7.5% , LCC -6.3% , CAL -5.6% , DAL -4.3%… Other news: SRDX -23.3% (Merck discontinues license and research collaboration agreement with SurModics), CPST -20.0% (announces a ~21.48 mln share common stock offering), MS -6.9% (continued reports regarding a potential merger with WB; CNBC reported that co is beginning official merger negotiations with WB), GS -6.1% (showing continued weakness from yesterday’s 10%+ decline), VRTX -4.0% (announces pricing of its public offering of common stock of 7.5 mln shares at $25.50 per share)… Analyst comments: KSS -1.5% (downgraded to Hold at Citigroup).

Gapping Up

Select financial related stocks rebounding: UBS +17.9%, AIG +13.2% (S&P reports most AIG ratings’ CreditWatch status revised to developing; short-term ratings raised), WM +11.9% (Wells Fargo, Citi have expressed preliminary interest, according to sources - WSJ), LYG +11.5% (buys HBOS in GBP12.2B all-share deal - DJ), RBS +9.9%, AXA +7.3%, MBI +7.1%, DB +6.8%, ING +4.2%, BCS +4.0%, C +2.5%, WB +2.0% (MS considers merger with WB - NY Times)… Select metals/mining names showing continued strength as the dollar weakens and gold rises further: GFI +12.4%, SLV +7.1%, NG +6.8%, AAUK +6.5%, HMY +5.1%, MT +4.4%, GOLD +4.3%, RTP +2.4%, NEM +1.8%, BHP +1.6%, GLD +1.1%… Select oil/gas names showing strength with crude higher: STO +7.4%, RDS.A +2.7%, TOT +2.1%, BP +1.9%, XOM +1.4%… Select China names trading higher following rebound in overseas trading: CHU +11.1%, CN +7.1%, ACH +3.3%… Other news: CEG +5.0% (EDF Considers Taking Over U.S. Joint Venture Partner - WSJ)… Analyst comments: CLR +1.5% (upgraded to Buy at Merrill).