Watchlist for December 1, 2008

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: PPC -8.7% (files to delay 10-Q due to the ongoing discussions with its lenders regarding temporary waivers under its credit facilities and related financial uncertainties)... Select financial names trading lower: BCS -12.6%, UBS -8.9%, IBN -8.6%, DB -8.2%, ING -8.2%, RBS -7.5%, HIG -7.1%, MER -4.7%, GS -4.1% (discloses it entered into a Guarantee Agreement with Goldman Sachs Bank USA, a bank chartered under the laws of the State of New York), MS -4.1%, AXA -3.8%, C -3.7% (Citigroup to sell NikkoCiti Trust - Financial Times), AIG -3.5% (sells Swiss private bank to Abu Dhabi group - Financial Times), BAC -3.2%, HBC -3.1%, JPM -2.1%... Select oil/gas names showing weakness with crude lower after OPEC decided to take no action during its meeting over the weekend: RDC -12.6%, ACGY -10.3%, PWE -8.1%, WFT -7.5%, PBR -7.3%, SU -6.7% (downgraded to Sector Perform from Outperform at CIBC Wrld Mkts), HES -6.6%, LUKOY -6.3%, E -6.0%, APA -5.4%, BP -5.2%, TOT -4.7%, CNQ -4.5% (downgraded to Sector Perform from Outperform at CIBC Wrld Mkts), ADM -4.5% (downgraded to Market Perform from Outperform at BMO Capital Markets), SLB -3.9% (downgraded to Neutral at Merrill), RDS.A -3.5% (Royal Dutch Shell deaths higher than other western groups - FT), COP -3.4%, PDS -3.0% (downgraded to Underperform at Merrill), CVX -2.6%... Select metals/mining names showing weakness with lower spot prices: AAUK -13.4%, DROOY -10.8%, SLV -10.0%, AUY -8.8%, RTP -8.2%, BBL -7.3%, SLW -7.2%, MT -7.2% (suspends construction of steel foundry in Maputo province - macauhub), RIO -7.2%, GOLD -7.1%, AEM -6.0%, IAG -5.5%, BHP -5.3%, ABX -5.3%, GG -5.3%, ACH -2.9% (downgraded to Underweight from Neutral at HSBC Securities)... Select solar names trading lower: STP -12.1%, SOL -11.2%, TSL -8.5%, YGE -7.8%, CSIQ -4.7%, SOLF -4.1%, ESLR -3.3%, FSLR -3.1%... Other news: GFA -13.2% (discloses its shareholder FMR has disposed of 3.41 mln ADRs), BIDU -7.0% (Baidu faces wave of legal challenges - Financial Times), NOK -4.0% (still checking), UL -3.5% (still checking), GM -3.2% (racing to craft a convincing viability plan - WSJ), AZN -2.9% (still checking for anything specific)... Analyst comments: ITRN -4.8% (downgraded to Neutral at JPMorgan), STM -4.7% (downgraded to Sell at Societe Generale), XL -4.0% (downgraded to Neutral from Buy at Merrill Lynch), MTL -1.9% (downgraded to Neutral at Credit Suisse), DSX -1.5% (downgraded to Underweight from Hold at BB&T Capital Mkts).

Gapping Up

M&A news: MNT +87.9% (to be acquired by JNJ for $31 per share)... Other news: GGP +24.6% (announces two week loan extensions), F +13.0% (Financial Times reports GM and F have approached Sweden's government about financial aid for their loss making Saab and Volvo brands), YHOO +7.7% (still checking; note AllThingsDigital is reporting that there is no $20 bln Microsoft deal to buy Yahoo Search)... Analyst comments: NOA 3.9% (upgraded to Buy from Neutral at UBS).

Disclaimer & How I use this list