Watchlist for November 24, 2008

Friday's strength has carried over into this morning. It's a promisig start to the week but the indices are also gapping right into resistance zones. Given the probable light volume this week we may have to take whatever happens with a grain of salt.

On Today's Calendar:

10:00 -- Existing 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: CBE -5.4% (light volume; also downgraded to Market Perform at Friedman Billings), VAL -2.4%... Other news: GTE -6.4% (announces temporary suspension of production operations in its Costayaco and Juanambu oil fields, Colombia), NCX -5.8% (to idle Pennsylvania Styrenic Polymer Plant), TEVA -2.0% (still checking)... Analyst comments: LL -5.5% (downgraded to Underperform at Merrill).

Gapping Up

M&A news: OMRI 15.8% (Johnson & Johnson announces agreement to acquire Omrix for $438 mln or $25 per share; also initiated with Buy at BofA), ALO +7.4% (KG Extends $37.00 cash tender offer through December 19, 2008)... Select financial related names showing continued strength boosted by C news: C +55.2% (Citigroup adds $40 bln of capital benefit through agreement with U.S. Treasury, Federal Reserve, and FDIC), CIT +24.6%, IRE +16.4%, RF +10.1%, MS +9.4%, MER +7.7%, BAC +7.7%, UBS +7.4%, AIG +6.2% (DJ reports that China CIC Exec says not planning to buy stake in AIG; also Reuters.com reports American Intl to sell aircraft-leasing unit ILFC to investors, according to investors), GS +4.6%, DB +4.4% (Ackermann to overhaul strategy after stock plunge - Bloomberg.com), WFC +4.3%, JPM +4.3%, AXA +4.2%... Select metals/mining names showing strength with higher spot prices and weaker dollar: SLW +13.5%, MT +7.0%, AUY +6.6%, AA +6.2%, FCX +6.1%, AU +5.8%, BHP +5.6%, GG +4.4%, ABX +3.3%, RTP +2.6%, GLD +1.9%, GOLD +1.8%, KGC +1.6%... Select oil/gas names showing strength with crude higher: PBR +3.4%, RDS.A +3.3%, SLB +2.9%, STO +2.6%, TOT +2.5%, COP +2.5%, BP +1.5%, XOM +1.2%, CVX +1.0%... Other news: TASR +20.8% (Police to receive 10,000 Tasers to tackle violent crime - Guardian Unlimited; also announces that Los Angeles Police Department Upgrades TASER program), LVS +10.8% (still checking for anything specific), TS +10.7% (climbed ~9% in overseas trading), DRYS +10.2% (still checking), SAP +5.3% (still checking), OC +2.6% and CRM +2.6% (Cramer makes positive comments on MadMoney), AAPL +2.0% (plans to cope with the harsh economic climate by minimizing the need to lay off staff in favor of reducing hours - AppleInsider)... Analyst comments: SNY +4.9% (upgraded to Overweight at Morgan Stanley).