Watchlist for November 14, 2008

It's the new normal again this morning -- a 2% gap to start the day. I guess we have to expect some retracement of yesterday's huge move. I'd like to see the bulls hold at intraday support from Wednesday -- on the QQQQ that's around 29.50, which is about 1% lower than where it's trading now.

On Today's Calendar:

10:00 -- Business Inventories
10:00 -- Mich Sentiment-Prel.

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: GSI -12.8% (light volume), VSCI -12.4% (light volume), NOK -12.4%, JWN -10.5%, ANF -7.0%, KSS -3.2%, ETFC -2.7%... Select oil/gas names showing weakness: PBR -5.7%, TOT -3.0%, COP -2.4%, OXY -2.0%, CVX -1.3%, XOM -1.1%... Select financials pulling back: PRU -11.4%, UBS -10.3%, BBD -9.5%, ITU -8.4%, BCS -7.8%, CIT -5.7%, HIG -5.4%, DB -5.2%, HBC -3.7%, MS -3.0%, ABB -2.8%, GS -2.4%, WFC -2.0%, JPM -1.9%, BAC -1.5%... Select tech-related names trading lower: RIMM -4.5%, INTC -3.3%, BIDU -3.3%, MSFT -2.7%, AAPL -2.5%, GOOG -2.4%, DELL -2.1%, HPQ -1.8%... Select metals/mining names showing weakness: BHP -5.3% (Rio Tinto Group, trying to prevent a $65 bln hostile takeover by BHP Billiton, delayed investor meetings - Bloomberg.com), BBL -4.6%, RTP -3.8%, RIO -3.7%, GOLD -3.6%, MT -3.0% (Slowdown may delay ArcelorMittal's India plan - Business Standard)... Other news: LHO -17.8% (rescinds prior outlook; also downgraded to Hold from Buy at BB&T Capital Mkts and downgraded to Neutral from Buy at Janney Mntgmy Scott), ERIC -9.5%, MOT -7.2%, and QCOM -2.8% (down in sympathy with NOK), ASH -5.0% (Ashland completes acquisition of Hercules for $18.60), WYNN -5.0% (prices 8.0 mln common shares at $43.50/share), NTY -4.2% (Founder adopts 10b5-1 Trading Plan), BA -3.4% (adjusts 747-8 program production and delivery schedule; delivery of first 747-8 Freighter will move from late '09 to 3Q10), GBCI -2.0% (prices 5.5 mln common shares at $15.50/share), AMAT -1.9% (ASM International N.V. announces termination of contacts with Applied Materials and Francisco Partners on potential offer for front-end operations)... Analyst comments: ACGY -6.6% (downgraded to Neutral at JPMorgan), NDSN -6.2% (downgraded to Underweight at Keybanc), ATVI -6.1% (downgraded to Neutral from Buy at Merrill), WLT -2.3% (downgraded to Market Perform at Friedman Billings), RDS.A -1.5% (downgraded to Hold at ING), GSK -1.0% (downgraded to Neutral at UBS).

Gapping Up

In reaction to strong earnings/guidance: FUQI +32.6%, CLNE +12.2%, MSCC +3.3%... Other news: C +1.6% (executives bought a total of 1.2 mln shares of the co's stock late Thursday, as officials fretted about Citigroup's skidding stock price - WSJ)... Analyst comments: CNB +1.2% (upgraded to Outperform from Mkt Perform at Morgan Keegan), LDK +1.0% (upgraded to Overweight from Equal Weight at Morgan Stanley).