Watchlist for November 11, 2008

We're in for more weakness this morning and some round-number support will be tested on both the S&P 500 (900) and Nasdaq (1600). It sure feels like the market wants to slice right through those levels and retest the October lows though.

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: KFN -36.0% (also downgraded to Market Perform at Friedman Billings and downgraded to Sell at Citigroup), SIL -30.1%, FMCN -22.3% (also downgraded to Neutral from Positive at Susquehanna Financial, downgraded to Accumulate at ThinkEquity), USAP -12.0% (light volume), LVS -6.3%, CPSL -6.2%, TOL -4.4%, SBUX -3.2%... Select financial names showing continued weakness: GNW -13.6% (discloses that it is no longer eligible to sell commercial paper to the Commercial Paper Funding Facility; also Moody's downgrades Genworth senior debt to Baa1), HBC -6.5%, AIG -6.1% (estimates cut at Stifel), MS -2.5%, ING -2.5%, GS -2.3%, BAC -1.2%, C -1.0%... Select metals/mining stocks showing weakness with lower spot prices: AUY -4.7%, BHP -4.5%, RTP -4.1%, GFI -3.1%, GLD -1.7%... Select oil/gas names showing weakness with crude lower: BP -3.1%, RDS.A -2.8%, TOT -2.0%, XOM -1.7%... Other news: SGMO -57.8% (announces results from diabetic Neuropathy clinical trial SB-509-601; also downgraded to Sell from Buy at Piper Jaffray), TLEO -28.5% (delays quarterly financial report; announces re-evaluation of timing of revenue recognition; also downgraded to Perform at Oppenheimer), VPHM -8.5% (OPTR reported positive results for OPT-80 and reported only 13.3% of patients treated with OPT-80 experienced a recurrence vs. 24.0% for VPHM's Vancocin), AA -5.3% (to curtail additional 350,000 mtpy of aluminum production across its Global Smelting System; also downgraded to Market Perform at Friedman Billings), GOOG -2.7% (Google 4Q revenue forecast cut at Goldman on poor macro data- Bloomberg), AZN -1.6% (still checking for anything specific)... Analyst comments: TSN -11.4% (downgraded to Underweight at JPMorgan), PRU -8.7% (downgraded to Sell at Goldman - Bloomberg), HIG -5.8% (downgraded to Sell at Goldman - Bloomberg), ACAS -4.1% (downgraded to Mkt Perform from Outperform at William Blair and downgraded to Hold at BB&T).

Gapping Up

In reaction to strong earnings/guidance: TMA +40.9%, TA +13.0% (light volume), VOD +10.4%, ESC +5.4%, ASEI +4.6% (light volume)... Other news: OPTR +93.5% (reports "positive data" from its North American phase 3 CDI study of OPT-80; also upgraded to Outperform at Baird), LNET +24.4% (Mark Cuban files 13D reporting 9.9% stake; may seek talks with LNET), ASTI +6.4% (Ascent Solar and TurtleEnergy sign cooperation agreement), WYNN +2.5% (will replace ASH in the S&P 500), BUCY +1.8% (will replace DENTSPLY in the S&P MidCap 400), XRAY +1.2% (will replace HRC in the S&P 500), PPG +1.1% (Cramer makes positive comments on MadMoney), CHK +1.0% (announces Marcellus Shale joint venture and international unconventional natural gas exploration alliance with StatoilHydro).