Watchlist for November 6, 2008

It looks like another tough day for the bulls thanks to weak earnings reports and October same-store sales numbers.

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/same store sales: NOBL -49.2%, THQI -26.3% (also downgraded to Buy at Wedbush Morgan and downgraded to Hold at Kaufman Bros), FCN -24.4% (also downgraded to Perform at Oppenheimer), MDR -22.9% (also downgraded to Neutral at Credit Suisse), DOX -18.6% (also downgraded to Hold at Brean Murray and downgraded to Neutral at Baird), ZUMZ -15.6%, NWS.A -12.2%, BX -11.6%, TM -9.2%, SNN -9.1%, MOVE -9.0%, GYMB -7.8%, INSP -7.1% (light volume), HK -5.8%, CSCO -5.7%, BIG -5.6% (light volume), VMC -3.8%, TGT -3.6%, JCP -3.1%, CTRN -2.8% (light volume)... Select financials showing continued weakness: ABK -8.0% (Moody's downgrades Ambac Insurance Financial Strength Rating from Aa3), UBS -5.8%, MBI -5.6%, HBC -5.1%, WFC -4.6% (announces $10 bln common stock offering), HIG -3.8%, AXA -3.7%, GS -2.1% (estimates lowered at Morgan Stanley)... Select metals/mining names showing weakness: BHP -6.9%, RTP -6.7% (Japan gives 11-day ultimatum to BHP over hostile Rio Tinto takeover - Times of London ), MT -6.1%, AAUK -5.4%... Select oil/gas related names trading lower: STO -4.8%, EOG -3.5%, E -3.1%, BP -2.8%, RDS.A -1.3%... Select casino names trading lower following LVS financing disclosures: LVS -27.1% (updates its development financing strategy; also files for an automatic mixed shelf offering), BYD -8.3%, MGM -8.1%, WYNN -6.3%... Other news: ITWO -8.8% (to proceed with special meeting of stockholders to vote on existing merger agreement with JDA Software Group), ALU -7.8% (still checking), ERIC -6.7% (still checking), POM -5.5% (prices offering of 14 mln shares of its common stock at $16.50 per share)... Analyst comments: GGP -6.2% (downgraded to Neutral at UBS), QSII -5.2% (downgraded to Perform at Oppenheimer), STP -3.7% (downgraded to Neutral at Merriman), FWLT -3.7% (downgraded to Hold at Citigroup), AMZN -3.6% (downgraded to Hold at Citigroup), GET -3.4% (downgraded to Neutral from Positive at Susquehanna Financial), CNQ -2.6% (downgraded to Sell from Neutral at Goldman-DJ), DVN -2.3% (downgraded to Market Perform at Friedman Billings).

Gapping Up

In reaction to strong earnings/guidance: CVTX +13.4%, WFMI +13.0% (upgraded to Hold at Jefferies), HOTT +12.3%, ATVI +9.4%, BJ +8.2% (light volume), EP +6.1%, SUN +4.6%, EGLE +4.6%, MBLX +4.1% (light volume)... Select European financials modestly higher following rate cuts: BCS +6.9% (buys Italian Mortgage unit from Macquarie for EUR1.1 bln - DJ), AEG -2.5%, LYG +1.1%... Other news: YHOO +3.4% (Yahoo's Yang says Microsoft deal still best option - Reuters.com), GSK +3.2% (still checking)... Analyst comments: SOV +1.4% (upgraded to Buy at Citigroup).