Watchlist for October 27, 2008

Despite last Friday's limit-down futures the Dow and S&P 500 managed to stay above their October lows. This morning the futures have come roaring back to near unchanged after some serious overnight weakness. So perhaps those October lows will be safe for at least another few hours...

On Today's Calendar:

10:00 -- New Home Sales

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: ACH -10.9%, L -9.6%, CTL -8.9% (also announces it will acquire EMBARQ for ~$11.6 bln), LFC -7.9%, ACI -5.6%... Select financial related names showing continued weakness: AZ -13.6%, CS -10.4%, AXA -9.4%, DB -9.0%, HBC -8.1%, AIB -7.5%, ING -5.5%, STI -4.6% (plans sale of $3.5 bln in preferred stock to U.S. Treasury; co separately announces 30% dividend reduction), BCS -4.1%... Select oil/gas names showing weakness with crude trading lower: SNP -12.4%, PTR -10.7%, CEO -10.2%, BP -9.3%, RDS.A -6.8% (downgraded to Underperform at Credit Suisse), TOT -6.7%, STO -5.0%, CVX -3.8%, XOM -3.2%, COP -2.6%, PBR -2.4%... Select metals/mining names showing weakness with lower spot prices: RTP -12.4% (BHP, Rio must share rail with Fortescue, Swan says - Bloomberg.com), AAUK -11.5%, BBL -8.3%, MT -7.2%, KGC -5.9%, GOLD -5.5%, BHP -5.3% (BHP, Rio must share rail with Fortescue, Swan says - Bloomberg.com), GLD -2.2%... Select drug/biotech related names trading lower: SVNT -35.1% (announces that data from its pegloticase pivotal clinical studies in treatment-failure gout patients was presented), THOR -14.1% (issues worldwide medical device correction of HeartMate II Left Ventricular Assist System), MDRX -7.6%, SHPGY -6.6%, SNY -3.2%, AZN -2.8%... Analyst comments: SLW -8.4% (downgraded to Sector Underperform at CIBC), X -6.1% (downgraded to Sell at UBS), CAT -5.4% (downgraded to Neutral from Buy at Merrill), PH -5.2% (downgraded to Hold at Deutsche Bank), NCC -3.4% (downgraded to Hold from Buy at Citigroup).

Gapping Up

In reaction to strong earnings/guidance: SOHU +5.6%, VZ +4.9%, ACV +3.4%... M&A news: EQ +14.7% (CenturyTel will acquire EMBARQ for ~$40.42/share)... Select airlines ticking higher with crude lower: DAL +5.8%, LUV + 4.8% , UAUA + 4.6% , AMR + 2.3%... Other news: PPC + 15.2% (announces extension of temporary covenant waiver with lenders), FITB + 7.8% (announces plan to participate in U.S. Treasury Capital Purchase Program), HUN +5.2% (still checking).