Watchlist for September 24, 2008

We're going to get back some of yesterday's losses on this morning's gap up. But we've got more Fed / PPT testimony today, so there's always the danger of them talking the market back down. Somebody wake me when it's over. ..

I will be keeping one eye on some of these alternative energy names that are popping this morning.

On Today's Calendar:

10:30 -- Existing Home Sales
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

General news: MRX -27.5% (announces intent to restate financial statements), CNX -7.5% (lowers Q3 coal production guidance), LYG -7.0% (still checking), AAUK -5.3% (still checking for anything specific), JRCC -5.1% (files prospectus for 1.5 mln share common stock offering), OFC -2.0% (announces offering of 2 mln shares), EQY -1.8% (announces launch of offering of 2.2 mln common stock)... Analyst comments: JNPR -3.0% (downgraded to Underperform at Merrill), HTZ -2.0% (downgraded to Neutral at Goldman - DJ).

Gapping Up

In reaction to strong earnings/guidance: LOW +1.6% (light volume), WOR +1.3%... Select financial related names showing strength: FRE +34.1%, FNM +29.4%, DSL +19.9%, RBS +6.2%, WM +4.7%, MS +4.6%, AIG +4.4%, GS +3.9% (announced that Berkshire Hathaway confirms the co will to invest $5 bln in GS), BK +3.7% (will provide support to clients invested in money market mutual funds; Expects after-tax charge of ~$425 mln), BAC +2.1%, BCS +2.0%... Select solar names trading higher: ESLR +17.9%, AKNS +11.2%, YGE +7.9% (will supply PV modules to "largest university campus solar energy facility in the US"), SOLF +6.0%, TSL +5.2%, STP +5.1%, SPWR +5.0%, FSLR +4.7%, CSIQ +3.6%, SOL +3.5%... Other news: SQNM +16.2% (announces additional, positive results for Down Syndrome test; correctly identified 100% of samples, (i.e. sensitivity or detection rate), without any false-positive outcomes), ENER +9.8% (rebounding after yesterday's 15%+drop), MAS +6.0% (Cramer makes positive comments on MadMoney), WFR +3.6% (sees Q3 revs of $520-540 mln vs $594.01 mln First Call consensus following impact from Hurricane Ike; also upgraded to Outperform at RBC), NOK +2.8% (still checking for anything specific).