Watchlist for September 23, 2008

We've got talking heads (Fed Chairman Bernanke, Treasury Secretary Paulson, SEC Commissioner Cox and OFHEO Director Lockhart) testifying before the Senate Banking Committee this morning. At least while the testimony is taking place I expect the market to be on the quiet side and possibly a bit skittish. I'm starting to wish I was away on a vacation for the next two weeks...

On Today's Calendar:

nothing

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: CACH -11.6% (also downgraded to Hold at Roth)... Select financial related stocks showing weakness: WM -9.6% (Moody's downgrades WM's covered bond ratings to Baa1, on review), LYG -8.6%, WB -8.5%, UBS -6.8%, CS -5.1%, RF -3.8% (downgraded to Sell at Citigroup), ING -2.5%, BCS -1.4%... Select metals/mining names showing weakness with lower spot prices: RTP -11.9% (has signalled its intention to move away from traditional long-term contracts and instead increase amount of sales both into the spot market and through so-called hybrid contracts - FT), AAUK -6.6%, GFI -4.6%, BHP -4.5%, DROOY -4.1%, HMY -3.4%, BBL -2.8%, GLD -1.5%... Select drybulk shippers trading lower: EXM -5.0%, DSX -3.1%, DRYS -3.0%, EGLE -2.7%... Other news: CEF -9.2% (announces that it plans to offer Class A Shares of Central Fund to the public in Canada and the United States under its existing $750 mln base shelf prospectus), HGR -6.2% (announces underwritten public offering by shareholder of 2.5 mln shares)... Analyst comments: EPIC -4.7% (downgraded to Underperform at Cowen), STM -3.9% (downgraded to Neutral at JPMorgan), DXPE -3.1% (downgraded to Hold at Jesup & Lamont), GE -2.5% (downgraded to Neutral at Merrill), MU -2.3% (downgraded to Perform at Oppenheimer), CHS -2.3% (downgraded to Neutral from Buy at Piper Jaffray).

Gapping Up

In reaction to strong earnings/guidance: COMS +10.5%, CC +8.8%, UNP +1.6%... M&A news: IMCL +6.1% (Bristol-Myers Squibb raises bid for ImClone Systems to $62.00 per share)... Select airline stocks ticking higher with crude lower: NWA +4.2%, LCC +3.5%, AMR +3.4%, UAUA +3.4%, CAL +2.9%... Other news: DSL +20.6% (names Charles R. Rinehart Chief Executive Officer), AIG +9.7% and ABK +6.8% (still checking for anything specific), ABX +2.3% and AEM +1.6% (Cramer makes positive comments on MadMoney)... Analyst comments: ATML +4.7% (initiated with a Buy at UBS), NLY +2.5% (upgraded to Buy at Merrill).