Watchlist for December 3, 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: IFX -27.6% (also downgraded to Sell from Hold at Deutsche Bank), IIVI -14.6% (light volume), OVTI -14.4% (also downgraded to Underperform at Baird and downgraded to Hold at Kaufman Bros), RIMM -7.6% (also tgt cut to $30 at Deutsche Bank)... Select oil/gas names showing weakness with crude lower: MDR -7.8%, ACGY -6.7%, TOT -5.5%, RDS.A -5.2%, BP -4.6% (BG Group in GBP300 mln North Sea asset swap with BP - DJ), E -4.2%, PBR -3.7% (BNDES studies $1 bln financing for Petrobras, according to report - DJ), COP -2.7%, CVX -1.6%... Select financial names pulling back: LYG -15.4%, BCS -9.9%, ING -5.6%, C -5.5%, MS -5.2% (estimates cut at JPMorgan and Merrill), MS -4.6%, MER -3.9%, BAC -3.5%, WFC -3.2%, C -3.2%, GS -3.1% (estimates cut at JPMorgan and Merrill), JPM -2.2%... Select metals/mining names showing weakness with lower spot prices: RTP -12.2% (begins talks with banks on refinancing debt, according to sources - DJ), AAUK -6.6%, GOLD -5.8%, MT -4.8%, RIO -4.5%, BBL -3.0%... Solar names showing weakness following negative analyst commentary on select names: SOLF -8.6% (tgt cut to $3 from $5 at Jefferies following in line Q3 results and disappointing 4Q and '09 outlook), CSIQ -7.6%, JASO -7.1%, FSLR -4.8% (downgraded to Hold at Wedbush), STP -3.6%, LDK -3.2%... Select tech/communication equipment related cos trading lower following RIMM guidance: PALM -16.8%, MOT -4.7%, AAPL -3.9%, INTC -3.8%, CHL -3.0%, NOK -2.8%, MSFT -1.7%... Other news: HE -11.1% (prices offering of 5.0 mln common shares at $23/share), LVS -10.6% (still checking), PCU -9.0% (down in sympathy with FCX), BTU -8.3% (TRC amends its offer for Peabody Energy Corporation), ANR -7.1% (issues updated guidance for 2008; co estimates that Q4 shipments of metallurgical coal will be reduced by approximately 500,000 tons due to deferments initiated by customers), CCE -6.6% (still checking), ASML -6.6% (provides outlook in 8-k slides, sees gross margin ~36% at rev levels of Eur550 mln), AA -5.7% (searches for fresh start in troubled market - WSJ), GM -5.2% (still checking), FCX -4.9% (announces revised operating plans in response to weak market conditions; suspends common stock dividend), X -2.9% (announces it is taking further steps to consolidate operations), ISIS -2.8% (announces that OGX-011 has shown overall survival advantage in prostate cancer compared to standard therapy in a randomized phase 2 study), GE -2.3% (still checking)... Analyst comments: CHK -4.9% (downgraded to Sell at Calyon Securities), XNPT -4.8% (downgraded to Hold at Citigroup), WYNN -3.9% (initiated with Sell at Citigroup).

Gapping Up

In reaction to strong earnings/guidance: MRVL +6.3% STZ +1.6% (light volume)... M&A news: CEG +19.2% (Electricite de France SA proposes to acquire 50% of Constellation Energy's nuclear generation and operation business for $4.5 bln), GW +18.0% (Precision Drilling and Grey Wolf clarify merger agreement and move Grey Wolf Special Meeting Date to December 23, 2008)... Other news: OGXI +44.0% (ISIS Pharm announces that OGX-011 has shown overall survival advantage in prostate cancer compared to standard therapy in a randomized phase 2 study), NXY +6.1% (still checking), ETP +4.8% (Cramer makes positive comments on MadMoney), QGEN +4.1% (still checking), GERN +4.0% (announces that its collaborator, MRK, has initiated a Phase I clinical trial of V934/V935), POZN +2.4% (announces positive top line results for its PN 400 Phase 3 Trials; PN 400 demonstrated statistically significant fewer gastric ulcers vs. enteric coated naproxen), F +1.9% (Pelosi believes an intervention will happen, says it is clear that bankruptcy is not an option), AIG +1.6% (announces launch of financing entity for purchase of multi-sector collateralized debt obligations and termination of credit default swaps).

Disclaimer & How I use this list