Watchlist for November 26, 2008

We should expect much lighter volume for the rest of the week. (Remember that Friday is a half day.) It wouldn't surprise me at all to see a rally attempt. We often see that happen during these holiday weeks. If that does happen, I'd expect it to be reversed next week when all the players are back. I think the best scenario for the bulls would be to just keep the market going sideways until next week.

I'm taking off until Monday. Hopefully I can find some decent charts to post over the weekend. . Happy Thanksgiving to everybody!

On Today's Calendar:

10:00 -- Mich Sentiment-Rev.
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: BGP -52.4%, YGE -15.1%, JCG -14.1% (also downgraded to Hold at Needham), DE -10.0%, TIF -8.8%, VRGY -6.7%, TIVO -5.9%, TNB -4.7%, ANDE -2.5% (also downgraded to Neutral from Buy at Piper Jaffray)... M&A news: BCE -42.3% (Preliminary view from KPMG is that deal may not beat solvency test by December 11)... Select oil/gas related names showing weakness: NOV -4.4%, RDS.A -3.6%, BP -3.3%, APC -3.2% (downgraded to Neutral at Merrill), PBR -2.6%, SU -2.4% (downgraded to Underperform at Merrill), COP -2.4%, TOT -2.2%, XOM -1.0%... Select financial names trading lower: UBS -7.4%, ING -6.1%, MS -4.7%, BAC -4.6%, BCS -4.1%, MER -4.0%, JPM -3.7%, COF -3.6%, GS -3.0%, WFC -2.7%, HBC -2.4%, RBS -2.4%... Select airlines ticking lower with crude higher: LCC -9.2%, UAUA -4.9%, AMR -1.7%, DAL -1.5%... Select metals/mining names showing weakness: RTP -13.4% (Rio Tinto under pressure on asset sales - Reuters), AAUK -2.6%, MT -1.8%, GOLD -1.6%, BBL -1.4%, BHP -1.2% (downgraded to Hold at Canaccord)... Select solar names trading lower following disappointing YGE results: JASO -8.8%, CSUN -8.7%, FSLR -4.4%, ESLR -3.4%... Other news: LFG -73.6% (to be removed from S&P 600), ALU -4.5% (announces the appointment of Paul Tufano as CFO), KG -3.7% (discloses it is exploring an alternative financing arrangement for its pending acquisition of Alpharma), GSK -3.5% (down despite Reuters reporting that co says that it not involved in latest European Commission raids), CAT -3.4% (down in sympathy with DE), CAG -2.5% (filed for a $4 bln mixed shelf offering)... Analyst comments: EXM -7.7% (downgraded to Sell at Cantor), SAP -3.9% (downgraded to Sell at Societe Generale), DT -2.8% (downgraded to Underperform at Bernstein), DLTR -2.5% (downgraded to Neutral from Buy at MKM Partners), CBE -1.7% (downgraded to Neutral at UBS), NXY -1.4% (downgraded to Underperform at Merrill), CPB -1.2% (downgraded to Hold at Argus).

Gapping Up

General news: HOC + 12.4% (will replace LFG in S&P 600), RMBS + 5.0% (showing continued strength following yesterday's 20% climb), CHL + 4.1% (still checking for anything specific), STBA + 3.5% (will replace WCN in the S&P 600), TMP + 3.5% (light volume; will replace SPC in the S&P 600)... Analyst comments: HLS +2.3% (upgraded to Buy at Jefferies).