Watchlist for November 10, 2008

China's announcement of a stimulus package has world markets flying this morning. Our own QQQQ is already trading about 3% higher in the pre-market session. That's a good pop but it's still well below last week's high. I'd be surprised if the indices made it to the November 4th highs today but, whenever we get there, those are the levels I'll be watching for resistance.

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: ACAS -20.1% , FTEK -9.0% , ALD -6.8% , ENER -5.5% (also downgraded to Hold at Deutsche), HBC -1.1%... Select airline names ticking lower with crude trading 7% higher premarket: UAUA -4.9% , DAL -3.3% , AMR -2.5% , LCC -2.2%... Other news: CC -56.0% (to reorganize under Chapter 11), DSCO -27.5% (FDA establishes target action date of April 17, 2009 for potential approval of Discovery Labs' surfaxin), XNPT -16.6% (Xenoport and GSK announce plans to withdraw and resubmit New Drug Application for Solzira), MBI -12.3% (Moody's downgraded MBIA to Baa1; outlook is developing), STD -6.4% (plans to raise 7.2 bln euros in share sale - Bloomberg.com)... Analyst comments: GM -12.2% (downgraded to Sell at Deutsche Bank and downgraded at Barclays).

Gapping Up

In reaction to strong earnings/guidance: AIG +26.1%, FRPT +18.2%, BRCD +6.5%... M&A news: CYCL +102.6% (AT&T to acquire Centennial Communications for $8.50 per share)... Select stem cell related stocks trading higher following WSJ story saying Obama will allow federal funding of stem-cell research: ASTM +29.6%, STEM +28.6%, GERN +20.1%, OSIR +10.7%... Select drybulk shippers showing strength : DRYS +10.9%, TBSI +10.2%, EXM +9.2%... Select metals/mining names showing strength with higher spot prices and weaker dollar: MT +18.0%, HL +16.7%, AAUK +12.8%, RTP +12.1%, BHP +12.0%, SLW +10.9%, FCX +10.7% (announces molybdenum production curtailment and plans to defer restart of climax molybdenum mine), BBL +10.5%, AU +7.3%, GOLD +7.1%, AUY +5.7%, GFI +4.2%, GLD +3.1%, LMC +3.0%... Select iron/steel stocks showing strength: STLD +15.3%, AKS +6.1%, X +6.0%, NUE +4.4%... Select oil/gas names showing strength with crude prices up 7% and weaker dollar: TOT +4.5%, RDS.A +3.0%, CVX +2.2%, BP +1.8%, XOM +1.7%... Other news: VISN +9.3% (provides information to investors; cash on hand and cash to be generated from its operations will be sufficient to not only support its business activities but also meet its cash requirements in the foreseeable future), PBCT +7.2% (will replace UIS is S&P 500), ASML +6.3% and SAP +5.1% (still checking for anything specific), MCD +3.8% (reports October global same store sales +8.2%), AZN +2.8% (CRESTOR demonstrates cardiovascular risk reduction in a large statin outcomes study)... Analyst comments: TEF +2.8% (upgraded to Outperform at JPMorgan), WFC +1.0% (upgraded to Outperform at Credit Suisse).