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It was an ugly afternoon yesterday but the indices managed to stay above their November uptrend lines. They're getting squeezed between those rising November lines and the falling 50-day moving averages. Something's gotta give soon.

Yesterday the VIX got to within 0.25 of breaking its November low before the afternoon market weakness made it reverse. Let's see if it can finally break below 44...

On Today's Calendar:

• 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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The indices remain on the verge of breaking out above their December highs. Let's see if the options expiration games can help to do the trick.

On Today's Calendar:

• 10:00 -- Philadelphia Fed
• 10:00 -- Leading Indicators

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible longs: CX, CBI -- I'm seeing a lot of patterns like those two stocks. But while these two appear to be bouncing off of their 50-day moving average, most of the other charts are just under resistance. So I don't like the risk/reward on them, especially ahead of the Fed.

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The futures are getting jerked around by news on the auto makers' bailout. They were very weak to start the day after the vote failed to pass the senate last night. Now they've gained some strength on news of the President being willing to tap the TARP. This reminds me a lot of what happened during the voting on the TARP. I guess we'll just have to see what the government decides to do and go from there. From a technical standpoint, those December trendlines are in jeopardy.

On Today's Calendar:

• 10:00 -- Mich Sentiment-Prel.
• 10:00 -- Business Inventories

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible shorts: MSCC, XOP, RIG (and a lot of other oil stocks), SLAB, ISIL, ME

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:

Yesterday it felt like we were back in a market with normal volatility levels. But the VIX, which is still in the fifties, says otherwise. There were a lot of NR7s made yesterday, so perhaps that was just a slight pause before we get back to range expansion. Given the indices' overbought stochastic readings and the looming 50-day moving average I think the odds of a downward move is more likely.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Here's a shot of the QQQQ daily chart sowing it stuck for the moment between gap support and resistance from its declining 50-day moving average. In a normal market (less volatile) I'd be doubtful that it had enough steam to make it through the 50 DMA without a pullback. In this market, who knows...

On Today's Calendar:

• 10:00 -- Wholesale Inventories
• 10:35 -- Crude Inventories
• 2:00 -- Treasury Budget

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We're set for a lower open mostly due to the earnings warnings that rolled in overnight. The gaps down are relatively small though. QQQQ is set to open around yesterday's gap so I'll be watching to see if that gap can provide support.

On Today's Calendar:

• 10:00 -- Pending Home Sales

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We have a 3% gap up working this morning. That strength is taking the indices above and away from their September trendlines and to new 3-week highs. I don't know if this is the big short squeeze so many bulls have been looking for but I'd certainly be nervous if I was short right now. Out of the box I'm interested in how far the gap faders can push the market down. Bulls should want to see no more than a 1.5 to 2% pullback...

On Today's Calendar:

• 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: ITW -4.8% (light volume), BTH -3.7% (light volume), MMM -1.4%... Other news: ALTH -21.6% (announces top line results from Ph. 2 PROPEL trial of pralatrexate in patients with relapsed or refractory peripheral T-cell lymphoma), KSWS -8.3% (trading ex-dividend), AIB -4.9% (still checking for anything specific)... Analyst comments: IFX -8.3% (downgraded to Neutral at Goldman - DJ), CLWRD -3.5% (downgraded to Neutral at Merrill), MGLN -2.9% (downgraded to Neutral at Goldman - DJ).

Gapping Up

In reaction to strong earnings/guidance: MET +4.0%... Select financials showing continued strength: HIG +13.8%, ABK +10.4% (discloses that Ambac Assurance sent put exercise notices to each trust created as a vehicle for providing capital support to Ambac Assurance), AIG +7.7%, BAC +4.9%, C +4.5% (Citigroup and other ailing banks may need to boost their common equity - NY Post), ING +4.2%, JPM +3.1% (to participate in FDIC programs), MS +3.1%, RBS +2.6%, UBS +1.0%... Select oil/gas related names showing strength with crude higher: CHK +18.4% (updates financial and operational plans through 2010; also upgraded to Overweight from Neutral at J.P Morgan), BRY +12.3%, E +5.6% (Libya to pursue minority stake in Eni - WSJ), TOT +5.0%, COP +4.1%, HON +4.0%, PBR +4.0% (Brazil Minister says China, Petrobras in talks on $10 bln loan, according to report - DJ), STO +3.9%, VLO +3.8%, RDS.A +3.5%, BP +3.0%, CVX +2.6%, XOM +2.5%... Drug related names trading higher with select names reporting drug data: HGSI +19.2% (announces Albuferon meets primary endpoint in phase 3 Trial in chronic hepatitis C), GSK +3.3% (PROMACTA significantly increased platelet counts and reduced bleeding in long-term study of patients with chronic ITP), AZN +2.4%, SNY +2.4% (Ph. III trial results show Elitek significantly reduced plasma uric acid levels vs allopurinol in adults with hematologic cancers at risk for tumor lysis syndrome), SHPGY +1.8%... Select metals/mining names showing strength with higher spot prices: SLW +9.7%, AEM +8.0%, GG +6.9%, FCX +6.7%, MT +5.3%, BHP +4.3%, BBL +2.9%, GLD +2.2%, RTP +1.3%... Select iron/steel names trading higher: STLD +10.4%, X +9.9%, AKS +9.1%, NUE +5.6%... Select drybulk shippers showing strength : EXM +13.5%, DSX +7.5%, DRYS +5.3%... Other news: GM +24.5% (Outside pressure grows for GM to oust Wagoner - WSJ), F +19.5%, HLYS +14.5% (declares a special cash dividend in the amount of $1.00 per share), CAT +7.2% (still checking), YHOO +6.9% (MSFT CEO is still interested in Yahoo!'s search business, according to The Wall Street Journal), NYX +5.2% (Several stories out discussing Deutsche Borse and NYSE merger talks), AAPL +3.2% ($99 iPhone is coming for the holidays at Wal-Mart - NY Post), DMND +2.7% and AA +2.5% (Cramer makes positive comments on MadMoney), MCD +1.6% (says Nov global comp sales were up 7.7%)... Analyst comments: KGC +6.2% (upgraded to Outperform at Credit Suisse), OKS +2.4% (upgraded to Overweight from Equal Weight at Barclays).

Disclaimer & How I use this list

The November payroll (unemployment) data was much worse then expected. It was the worst report since 1974 but the futures are actually higher than they were before the data was released. That's a promising reaction for the bulls but I want to see what happens in the last hour of the day.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

It seems like at best we're headed for another choppy session. Yesterday's chop was resolved to the upside but still left the indices lower than they started the week and below their September trendlines. This morning's weakness will wipe out a good chunk of yesterday's gains. Chop, chop...

On Today's Calendar:

• 10:00 -- Factory Orders

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: ISIL -13.4% (also downgraded to Neutral at Goldman - DJ), DMND -11.2% (also downgraded to Neutral at Merrill), CRUS -11.1%, DD -7.0%, AMD -6.8%, JAS -6.6% (also downgraded to Hold at Soleil), APH -6.4%, ADBE -6.2% (also downgraded to Neutral at Baird), PHG -6.1%, HOTT -5.3%, M -5.3%, TGT -5.0%, TOL -4.3%, AEO -4.1%, MRK -3.7%, PLCE -3.3% (light volume), ARO -3.1%, JCP -1.5%... M&A news: SNDK -9.6% (Toshiba says not planning to acquire SanDisk - DJ)... Select financials trading lower: RBS -10.9%, BCS -8.7%, ABK -8.3% (eliminates quarterly dividend), AXA -5.7%, PRU -5.1% (discloses intention to put its Wachovia Securities joint venture interests to Wells Fargo), MS -4.7% (ests cut at Bernstein to account for a retail brokerage slowdown), CIT -3.8%, COF -3.7% (confirms it will acquire Chevy Chase Bank), STD -3.6%, WB -3.5%, C -3.2%, USB -3.1%, BAC -2.3%, HBC -2.3%, GS -2.1%, JPM -2.0%... Select drug related names trading lower with MRK reaffirming guidance: SGP -4.3%, NVS -2.2%, AZN -2.0%, TEVA -1.2%... Select oil/gas names showing weakness with crude lower: STO -4.8%, COP -3.1%, BP -3.0%, TOT -2.2%, RDS.A -2.0%, CVX -1.7%... Select metals/mining names showing weakness with lower spot prices: GFI -7.4%, BBL -6.5%, BHP -4.0%, NGG -3.6%, RTP -2.9%, RIO -2.0% (Comp Vale Do Rio to cut Nickel output in Canada - DJ)... Select automakers trading lower: GM -8.8% (General Motors, Chrysler may accept bankruptcy to receive bailout - Bloomberg.com; also tgt cut to $2 at Credit Suisse), HMC -8.0%, TM -5.3%, F -2.5%... Other news: NXY -4.8% (looks to ward off bids - Globe and Mail), STM -3.5% (still checking), T -2.5% (announces a planned reduction of approximately 12,000 jobs, or about 4% of its total workforce)... Analyst comments: POL -4.3% (downgraded to Underweight at KeyBanc Capital Mkts), SLB -2.9% (downgraded to Outperform at Calyon).

Gapping Up

In reaction to strong earnings/guidance/same store sales: PSS +10.2%, SNPS +7.0% (also upgraded to Hold at Citigroup), AVAV +6.0%, CS +1.8%, WMT +1.6%... Other news: MNKD +19.6% (reports positive results from final two pivotal Phase 3 clinical studies in Type 1 and Type 2 diabetes), ENZN +13.9% (to purchase a portion of its outstanding debt), ING +6.0% (still checking), CELG +2.5% (Cramer makes positive comments on MadMoney), MAT +2.3% (wins permanent injunction vs MGA in Bratz case - Reuters.com), NOK +1.9% (lowers the mobile device industry outlook for Q4 2008 and gives outlook for 2009), STT +1.1% (takes plans to reduce operating costs; will reduce approx 6% of workforce)... Analyst comments: PBR +5.5% (upgraded to Buy at Standpoint), RHT +2.5% (upgraded to Buy at Jefferies), AMZN +1.3% (upgraded to Overweight at Barclays), AMAT +1.2% (upgraded to Buy at Citigroup).

Disclaimer & How I use this list

It was an ugly afternoon yesterday but the indices managed to stay above their November uptrend lines. They're getting squeezed between those rising November lines and the falling 50-day moving averages. Something's gotta give soon.

Yesterday the VIX got to within 0.25 of breaking its November low before the afternoon market weakness made it reverse. Let's see if it can finally break below 44...

On Today's Calendar:

• 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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The indices remain on the verge of breaking out above their December highs. Let's see if the options expiration games can help to do the trick.

On Today's Calendar:

• 10:00 -- Philadelphia Fed
• 10:00 -- Leading Indicators

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible longs: CX, CBI -- I'm seeing a lot of patterns like those two stocks. But while these two appear to be bouncing off of their 50-day moving average, most of the other charts are just under resistance. So I don't like the risk/reward on them, especially ahead of the Fed.

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The futures are getting jerked around by news on the auto makers' bailout. They were very weak to start the day after the vote failed to pass the senate last night. Now they've gained some strength on news of the President being willing to tap the TARP. This reminds me a lot of what happened during the voting on the TARP. I guess we'll just have to see what the government decides to do and go from there. From a technical standpoint, those December trendlines are in jeopardy.

On Today's Calendar:

• 10:00 -- Mich Sentiment-Prel.
• 10:00 -- Business Inventories

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible shorts: MSCC, XOP, RIG (and a lot of other oil stocks), SLAB, ISIL, ME

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:

Yesterday it felt like we were back in a market with normal volatility levels. But the VIX, which is still in the fifties, says otherwise. There were a lot of NR7s made yesterday, so perhaps that was just a slight pause before we get back to range expansion. Given the indices' overbought stochastic readings and the looming 50-day moving average I think the odds of a downward move is more likely.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Here's a shot of the QQQQ daily chart sowing it stuck for the moment between gap support and resistance from its declining 50-day moving average. In a normal market (less volatile) I'd be doubtful that it had enough steam to make it through the 50 DMA without a pullback. In this market, who knows...

On Today's Calendar:

• 10:00 -- Wholesale Inventories
• 10:35 -- Crude Inventories
• 2:00 -- Treasury Budget

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We're set for a lower open mostly due to the earnings warnings that rolled in overnight. The gaps down are relatively small though. QQQQ is set to open around yesterday's gap so I'll be watching to see if that gap can provide support.

On Today's Calendar:

• 10:00 -- Pending Home Sales

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We have a 3% gap up working this morning. That strength is taking the indices above and away from their September trendlines and to new 3-week highs. I don't know if this is the big short squeeze so many bulls have been looking for but I'd certainly be nervous if I was short right now. Out of the box I'm interested in how far the gap faders can push the market down. Bulls should want to see no more than a 1.5 to 2% pullback...

On Today's Calendar:

• 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: ITW -4.8% (light volume), BTH -3.7% (light volume), MMM -1.4%... Other news: ALTH -21.6% (announces top line results from Ph. 2 PROPEL trial of pralatrexate in patients with relapsed or refractory peripheral T-cell lymphoma), KSWS -8.3% (trading ex-dividend), AIB -4.9% (still checking for anything specific)... Analyst comments: IFX -8.3% (downgraded to Neutral at Goldman - DJ), CLWRD -3.5% (downgraded to Neutral at Merrill), MGLN -2.9% (downgraded to Neutral at Goldman - DJ).

Gapping Up

In reaction to strong earnings/guidance: MET +4.0%... Select financials showing continued strength: HIG +13.8%, ABK +10.4% (discloses that Ambac Assurance sent put exercise notices to each trust created as a vehicle for providing capital support to Ambac Assurance), AIG +7.7%, BAC +4.9%, C +4.5% (Citigroup and other ailing banks may need to boost their common equity - NY Post), ING +4.2%, JPM +3.1% (to participate in FDIC programs), MS +3.1%, RBS +2.6%, UBS +1.0%... Select oil/gas related names showing strength with crude higher: CHK +18.4% (updates financial and operational plans through 2010; also upgraded to Overweight from Neutral at J.P Morgan), BRY +12.3%, E +5.6% (Libya to pursue minority stake in Eni - WSJ), TOT +5.0%, COP +4.1%, HON +4.0%, PBR +4.0% (Brazil Minister says China, Petrobras in talks on $10 bln loan, according to report - DJ), STO +3.9%, VLO +3.8%, RDS.A +3.5%, BP +3.0%, CVX +2.6%, XOM +2.5%... Drug related names trading higher with select names reporting drug data: HGSI +19.2% (announces Albuferon meets primary endpoint in phase 3 Trial in chronic hepatitis C), GSK +3.3% (PROMACTA significantly increased platelet counts and reduced bleeding in long-term study of patients with chronic ITP), AZN +2.4%, SNY +2.4% (Ph. III trial results show Elitek significantly reduced plasma uric acid levels vs allopurinol in adults with hematologic cancers at risk for tumor lysis syndrome), SHPGY +1.8%... Select metals/mining names showing strength with higher spot prices: SLW +9.7%, AEM +8.0%, GG +6.9%, FCX +6.7%, MT +5.3%, BHP +4.3%, BBL +2.9%, GLD +2.2%, RTP +1.3%... Select iron/steel names trading higher: STLD +10.4%, X +9.9%, AKS +9.1%, NUE +5.6%... Select drybulk shippers showing strength : EXM +13.5%, DSX +7.5%, DRYS +5.3%... Other news: GM +24.5% (Outside pressure grows for GM to oust Wagoner - WSJ), F +19.5%, HLYS +14.5% (declares a special cash dividend in the amount of $1.00 per share), CAT +7.2% (still checking), YHOO +6.9% (MSFT CEO is still interested in Yahoo!'s search business, according to The Wall Street Journal), NYX +5.2% (Several stories out discussing Deutsche Borse and NYSE merger talks), AAPL +3.2% ($99 iPhone is coming for the holidays at Wal-Mart - NY Post), DMND +2.7% and AA +2.5% (Cramer makes positive comments on MadMoney), MCD +1.6% (says Nov global comp sales were up 7.7%)... Analyst comments: KGC +6.2% (upgraded to Outperform at Credit Suisse), OKS +2.4% (upgraded to Overweight from Equal Weight at Barclays).

Disclaimer & How I use this list

The November payroll (unemployment) data was much worse then expected. It was the worst report since 1974 but the futures are actually higher than they were before the data was released. That's a promising reaction for the bulls but I want to see what happens in the last hour of the day.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

It seems like at best we're headed for another choppy session. Yesterday's chop was resolved to the upside but still left the indices lower than they started the week and below their September trendlines. This morning's weakness will wipe out a good chunk of yesterday's gains. Chop, chop...

On Today's Calendar:

• 10:00 -- Factory Orders

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: ISIL -13.4% (also downgraded to Neutral at Goldman - DJ), DMND -11.2% (also downgraded to Neutral at Merrill), CRUS -11.1%, DD -7.0%, AMD -6.8%, JAS -6.6% (also downgraded to Hold at Soleil), APH -6.4%, ADBE -6.2% (also downgraded to Neutral at Baird), PHG -6.1%, HOTT -5.3%, M -5.3%, TGT -5.0%, TOL -4.3%, AEO -4.1%, MRK -3.7%, PLCE -3.3% (light volume), ARO -3.1%, JCP -1.5%... M&A news: SNDK -9.6% (Toshiba says not planning to acquire SanDisk - DJ)... Select financials trading lower: RBS -10.9%, BCS -8.7%, ABK -8.3% (eliminates quarterly dividend), AXA -5.7%, PRU -5.1% (discloses intention to put its Wachovia Securities joint venture interests to Wells Fargo), MS -4.7% (ests cut at Bernstein to account for a retail brokerage slowdown), CIT -3.8%, COF -3.7% (confirms it will acquire Chevy Chase Bank), STD -3.6%, WB -3.5%, C -3.2%, USB -3.1%, BAC -2.3%, HBC -2.3%, GS -2.1%, JPM -2.0%... Select drug related names trading lower with MRK reaffirming guidance: SGP -4.3%, NVS -2.2%, AZN -2.0%, TEVA -1.2%... Select oil/gas names showing weakness with crude lower: STO -4.8%, COP -3.1%, BP -3.0%, TOT -2.2%, RDS.A -2.0%, CVX -1.7%... Select metals/mining names showing weakness with lower spot prices: GFI -7.4%, BBL -6.5%, BHP -4.0%, NGG -3.6%, RTP -2.9%, RIO -2.0% (Comp Vale Do Rio to cut Nickel output in Canada - DJ)... Select automakers trading lower: GM -8.8% (General Motors, Chrysler may accept bankruptcy to receive bailout - Bloomberg.com; also tgt cut to $2 at Credit Suisse), HMC -8.0%, TM -5.3%, F -2.5%... Other news: NXY -4.8% (looks to ward off bids - Globe and Mail), STM -3.5% (still checking), T -2.5% (announces a planned reduction of approximately 12,000 jobs, or about 4% of its total workforce)... Analyst comments: POL -4.3% (downgraded to Underweight at KeyBanc Capital Mkts), SLB -2.9% (downgraded to Outperform at Calyon).

Gapping Up

In reaction to strong earnings/guidance/same store sales: PSS +10.2%, SNPS +7.0% (also upgraded to Hold at Citigroup), AVAV +6.0%, CS +1.8%, WMT +1.6%... Other news: MNKD +19.6% (reports positive results from final two pivotal Phase 3 clinical studies in Type 1 and Type 2 diabetes), ENZN +13.9% (to purchase a portion of its outstanding debt), ING +6.0% (still checking), CELG +2.5% (Cramer makes positive comments on MadMoney), MAT +2.3% (wins permanent injunction vs MGA in Bratz case - Reuters.com), NOK +1.9% (lowers the mobile device industry outlook for Q4 2008 and gives outlook for 2009), STT +1.1% (takes plans to reduce operating costs; will reduce approx 6% of workforce)... Analyst comments: PBR +5.5% (upgraded to Buy at Standpoint), RHT +2.5% (upgraded to Buy at Jefferies), AMZN +1.3% (upgraded to Overweight at Barclays), AMAT +1.2% (upgraded to Buy at Citigroup).

Disclaimer & How I use this list

It was an ugly afternoon yesterday but the indices managed to stay above their November uptrend lines. They're getting squeezed between those rising November lines and the falling 50-day moving averages. Something's gotta give soon.

Yesterday the VIX got to within 0.25 of breaking its November low before the afternoon market weakness made it reverse. Let's see if it can finally break below 44...

On Today's Calendar:

• 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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The indices remain on the verge of breaking out above their December highs. Let's see if the options expiration games can help to do the trick.

On Today's Calendar:

• 10:00 -- Philadelphia Fed
• 10:00 -- Leading Indicators

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible longs: CX, CBI -- I'm seeing a lot of patterns like those two stocks. But while these two appear to be bouncing off of their 50-day moving average, most of the other charts are just under resistance. So I don't like the risk/reward on them, especially ahead of the Fed.

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The futures are getting jerked around by news on the auto makers' bailout. They were very weak to start the day after the vote failed to pass the senate last night. Now they've gained some strength on news of the President being willing to tap the TARP. This reminds me a lot of what happened during the voting on the TARP. I guess we'll just have to see what the government decides to do and go from there. From a technical standpoint, those December trendlines are in jeopardy.

On Today's Calendar:

• 10:00 -- Mich Sentiment-Prel.
• 10:00 -- Business Inventories

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible shorts: MSCC, XOP, RIG (and a lot of other oil stocks), SLAB, ISIL, ME

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:

Yesterday it felt like we were back in a market with normal volatility levels. But the VIX, which is still in the fifties, says otherwise. There were a lot of NR7s made yesterday, so perhaps that was just a slight pause before we get back to range expansion. Given the indices' overbought stochastic readings and the looming 50-day moving average I think the odds of a downward move is more likely.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Here's a shot of the QQQQ daily chart sowing it stuck for the moment between gap support and resistance from its declining 50-day moving average. In a normal market (less volatile) I'd be doubtful that it had enough steam to make it through the 50 DMA without a pullback. In this market, who knows...

On Today's Calendar:

• 10:00 -- Wholesale Inventories
• 10:35 -- Crude Inventories
• 2:00 -- Treasury Budget

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We're set for a lower open mostly due to the earnings warnings that rolled in overnight. The gaps down are relatively small though. QQQQ is set to open around yesterday's gap so I'll be watching to see if that gap can provide support.

On Today's Calendar:

• 10:00 -- Pending Home Sales

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We have a 3% gap up working this morning. That strength is taking the indices above and away from their September trendlines and to new 3-week highs. I don't know if this is the big short squeeze so many bulls have been looking for but I'd certainly be nervous if I was short right now. Out of the box I'm interested in how far the gap faders can push the market down. Bulls should want to see no more than a 1.5 to 2% pullback...

On Today's Calendar:

• 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: ITW -4.8% (light volume), BTH -3.7% (light volume), MMM -1.4%... Other news: ALTH -21.6% (announces top line results from Ph. 2 PROPEL trial of pralatrexate in patients with relapsed or refractory peripheral T-cell lymphoma), KSWS -8.3% (trading ex-dividend), AIB -4.9% (still checking for anything specific)... Analyst comments: IFX -8.3% (downgraded to Neutral at Goldman - DJ), CLWRD -3.5% (downgraded to Neutral at Merrill), MGLN -2.9% (downgraded to Neutral at Goldman - DJ).

Gapping Up

In reaction to strong earnings/guidance: MET +4.0%... Select financials showing continued strength: HIG +13.8%, ABK +10.4% (discloses that Ambac Assurance sent put exercise notices to each trust created as a vehicle for providing capital support to Ambac Assurance), AIG +7.7%, BAC +4.9%, C +4.5% (Citigroup and other ailing banks may need to boost their common equity - NY Post), ING +4.2%, JPM +3.1% (to participate in FDIC programs), MS +3.1%, RBS +2.6%, UBS +1.0%... Select oil/gas related names showing strength with crude higher: CHK +18.4% (updates financial and operational plans through 2010; also upgraded to Overweight from Neutral at J.P Morgan), BRY +12.3%, E +5.6% (Libya to pursue minority stake in Eni - WSJ), TOT +5.0%, COP +4.1%, HON +4.0%, PBR +4.0% (Brazil Minister says China, Petrobras in talks on $10 bln loan, according to report - DJ), STO +3.9%, VLO +3.8%, RDS.A +3.5%, BP +3.0%, CVX +2.6%, XOM +2.5%... Drug related names trading higher with select names reporting drug data: HGSI +19.2% (announces Albuferon meets primary endpoint in phase 3 Trial in chronic hepatitis C), GSK +3.3% (PROMACTA significantly increased platelet counts and reduced bleeding in long-term study of patients with chronic ITP), AZN +2.4%, SNY +2.4% (Ph. III trial results show Elitek significantly reduced plasma uric acid levels vs allopurinol in adults with hematologic cancers at risk for tumor lysis syndrome), SHPGY +1.8%... Select metals/mining names showing strength with higher spot prices: SLW +9.7%, AEM +8.0%, GG +6.9%, FCX +6.7%, MT +5.3%, BHP +4.3%, BBL +2.9%, GLD +2.2%, RTP +1.3%... Select iron/steel names trading higher: STLD +10.4%, X +9.9%, AKS +9.1%, NUE +5.6%... Select drybulk shippers showing strength : EXM +13.5%, DSX +7.5%, DRYS +5.3%... Other news: GM +24.5% (Outside pressure grows for GM to oust Wagoner - WSJ), F +19.5%, HLYS +14.5% (declares a special cash dividend in the amount of $1.00 per share), CAT +7.2% (still checking), YHOO +6.9% (MSFT CEO is still interested in Yahoo!'s search business, according to The Wall Street Journal), NYX +5.2% (Several stories out discussing Deutsche Borse and NYSE merger talks), AAPL +3.2% ($99 iPhone is coming for the holidays at Wal-Mart - NY Post), DMND +2.7% and AA +2.5% (Cramer makes positive comments on MadMoney), MCD +1.6% (says Nov global comp sales were up 7.7%)... Analyst comments: KGC +6.2% (upgraded to Outperform at Credit Suisse), OKS +2.4% (upgraded to Overweight from Equal Weight at Barclays).

Disclaimer & How I use this list

The November payroll (unemployment) data was much worse then expected. It was the worst report since 1974 but the futures are actually higher than they were before the data was released. That's a promising reaction for the bulls but I want to see what happens in the last hour of the day.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

It seems like at best we're headed for another choppy session. Yesterday's chop was resolved to the upside but still left the indices lower than they started the week and below their September trendlines. This morning's weakness will wipe out a good chunk of yesterday's gains. Chop, chop...

On Today's Calendar:

• 10:00 -- Factory Orders

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: ISIL -13.4% (also downgraded to Neutral at Goldman - DJ), DMND -11.2% (also downgraded to Neutral at Merrill), CRUS -11.1%, DD -7.0%, AMD -6.8%, JAS -6.6% (also downgraded to Hold at Soleil), APH -6.4%, ADBE -6.2% (also downgraded to Neutral at Baird), PHG -6.1%, HOTT -5.3%, M -5.3%, TGT -5.0%, TOL -4.3%, AEO -4.1%, MRK -3.7%, PLCE -3.3% (light volume), ARO -3.1%, JCP -1.5%... M&A news: SNDK -9.6% (Toshiba says not planning to acquire SanDisk - DJ)... Select financials trading lower: RBS -10.9%, BCS -8.7%, ABK -8.3% (eliminates quarterly dividend), AXA -5.7%, PRU -5.1% (discloses intention to put its Wachovia Securities joint venture interests to Wells Fargo), MS -4.7% (ests cut at Bernstein to account for a retail brokerage slowdown), CIT -3.8%, COF -3.7% (confirms it will acquire Chevy Chase Bank), STD -3.6%, WB -3.5%, C -3.2%, USB -3.1%, BAC -2.3%, HBC -2.3%, GS -2.1%, JPM -2.0%... Select drug related names trading lower with MRK reaffirming guidance: SGP -4.3%, NVS -2.2%, AZN -2.0%, TEVA -1.2%... Select oil/gas names showing weakness with crude lower: STO -4.8%, COP -3.1%, BP -3.0%, TOT -2.2%, RDS.A -2.0%, CVX -1.7%... Select metals/mining names showing weakness with lower spot prices: GFI -7.4%, BBL -6.5%, BHP -4.0%, NGG -3.6%, RTP -2.9%, RIO -2.0% (Comp Vale Do Rio to cut Nickel output in Canada - DJ)... Select automakers trading lower: GM -8.8% (General Motors, Chrysler may accept bankruptcy to receive bailout - Bloomberg.com; also tgt cut to $2 at Credit Suisse), HMC -8.0%, TM -5.3%, F -2.5%... Other news: NXY -4.8% (looks to ward off bids - Globe and Mail), STM -3.5% (still checking), T -2.5% (announces a planned reduction of approximately 12,000 jobs, or about 4% of its total workforce)... Analyst comments: POL -4.3% (downgraded to Underweight at KeyBanc Capital Mkts), SLB -2.9% (downgraded to Outperform at Calyon).

Gapping Up

In reaction to strong earnings/guidance/same store sales: PSS +10.2%, SNPS +7.0% (also upgraded to Hold at Citigroup), AVAV +6.0%, CS +1.8%, WMT +1.6%... Other news: MNKD +19.6% (reports positive results from final two pivotal Phase 3 clinical studies in Type 1 and Type 2 diabetes), ENZN +13.9% (to purchase a portion of its outstanding debt), ING +6.0% (still checking), CELG +2.5% (Cramer makes positive comments on MadMoney), MAT +2.3% (wins permanent injunction vs MGA in Bratz case - Reuters.com), NOK +1.9% (lowers the mobile device industry outlook for Q4 2008 and gives outlook for 2009), STT +1.1% (takes plans to reduce operating costs; will reduce approx 6% of workforce)... Analyst comments: PBR +5.5% (upgraded to Buy at Standpoint), RHT +2.5% (upgraded to Buy at Jefferies), AMZN +1.3% (upgraded to Overweight at Barclays), AMAT +1.2% (upgraded to Buy at Citigroup).

Disclaimer & How I use this list

It was an ugly afternoon yesterday but the indices managed to stay above their November uptrend lines. They're getting squeezed between those rising November lines and the falling 50-day moving averages. Something's gotta give soon.

Yesterday the VIX got to within 0.25 of breaking its November low before the afternoon market weakness made it reverse. Let's see if it can finally break below 44...

On Today's Calendar:

• 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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The indices remain on the verge of breaking out above their December highs. Let's see if the options expiration games can help to do the trick.

On Today's Calendar:

• 10:00 -- Philadelphia Fed
• 10:00 -- Leading Indicators

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible longs: CX, CBI -- I'm seeing a lot of patterns like those two stocks. But while these two appear to be bouncing off of their 50-day moving average, most of the other charts are just under resistance. So I don't like the risk/reward on them, especially ahead of the Fed.

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The futures are getting jerked around by news on the auto makers' bailout. They were very weak to start the day after the vote failed to pass the senate last night. Now they've gained some strength on news of the President being willing to tap the TARP. This reminds me a lot of what happened during the voting on the TARP. I guess we'll just have to see what the government decides to do and go from there. From a technical standpoint, those December trendlines are in jeopardy.

On Today's Calendar:

• 10:00 -- Mich Sentiment-Prel.
• 10:00 -- Business Inventories

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible shorts: MSCC, XOP, RIG (and a lot of other oil stocks), SLAB, ISIL, ME

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:

Yesterday it felt like we were back in a market with normal volatility levels. But the VIX, which is still in the fifties, says otherwise. There were a lot of NR7s made yesterday, so perhaps that was just a slight pause before we get back to range expansion. Given the indices' overbought stochastic readings and the looming 50-day moving average I think the odds of a downward move is more likely.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Here's a shot of the QQQQ daily chart sowing it stuck for the moment between gap support and resistance from its declining 50-day moving average. In a normal market (less volatile) I'd be doubtful that it had enough steam to make it through the 50 DMA without a pullback. In this market, who knows...

On Today's Calendar:

• 10:00 -- Wholesale Inventories
• 10:35 -- Crude Inventories
• 2:00 -- Treasury Budget

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We're set for a lower open mostly due to the earnings warnings that rolled in overnight. The gaps down are relatively small though. QQQQ is set to open around yesterday's gap so I'll be watching to see if that gap can provide support.

On Today's Calendar:

• 10:00 -- Pending Home Sales

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We have a 3% gap up working this morning. That strength is taking the indices above and away from their September trendlines and to new 3-week highs. I don't know if this is the big short squeeze so many bulls have been looking for but I'd certainly be nervous if I was short right now. Out of the box I'm interested in how far the gap faders can push the market down. Bulls should want to see no more than a 1.5 to 2% pullback...

On Today's Calendar:

• 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: ITW -4.8% (light volume), BTH -3.7% (light volume), MMM -1.4%... Other news: ALTH -21.6% (announces top line results from Ph. 2 PROPEL trial of pralatrexate in patients with relapsed or refractory peripheral T-cell lymphoma), KSWS -8.3% (trading ex-dividend), AIB -4.9% (still checking for anything specific)... Analyst comments: IFX -8.3% (downgraded to Neutral at Goldman - DJ), CLWRD -3.5% (downgraded to Neutral at Merrill), MGLN -2.9% (downgraded to Neutral at Goldman - DJ).

Gapping Up

In reaction to strong earnings/guidance: MET +4.0%... Select financials showing continued strength: HIG +13.8%, ABK +10.4% (discloses that Ambac Assurance sent put exercise notices to each trust created as a vehicle for providing capital support to Ambac Assurance), AIG +7.7%, BAC +4.9%, C +4.5% (Citigroup and other ailing banks may need to boost their common equity - NY Post), ING +4.2%, JPM +3.1% (to participate in FDIC programs), MS +3.1%, RBS +2.6%, UBS +1.0%... Select oil/gas related names showing strength with crude higher: CHK +18.4% (updates financial and operational plans through 2010; also upgraded to Overweight from Neutral at J.P Morgan), BRY +12.3%, E +5.6% (Libya to pursue minority stake in Eni - WSJ), TOT +5.0%, COP +4.1%, HON +4.0%, PBR +4.0% (Brazil Minister says China, Petrobras in talks on $10 bln loan, according to report - DJ), STO +3.9%, VLO +3.8%, RDS.A +3.5%, BP +3.0%, CVX +2.6%, XOM +2.5%... Drug related names trading higher with select names reporting drug data: HGSI +19.2% (announces Albuferon meets primary endpoint in phase 3 Trial in chronic hepatitis C), GSK +3.3% (PROMACTA significantly increased platelet counts and reduced bleeding in long-term study of patients with chronic ITP), AZN +2.4%, SNY +2.4% (Ph. III trial results show Elitek significantly reduced plasma uric acid levels vs allopurinol in adults with hematologic cancers at risk for tumor lysis syndrome), SHPGY +1.8%... Select metals/mining names showing strength with higher spot prices: SLW +9.7%, AEM +8.0%, GG +6.9%, FCX +6.7%, MT +5.3%, BHP +4.3%, BBL +2.9%, GLD +2.2%, RTP +1.3%... Select iron/steel names trading higher: STLD +10.4%, X +9.9%, AKS +9.1%, NUE +5.6%... Select drybulk shippers showing strength : EXM +13.5%, DSX +7.5%, DRYS +5.3%... Other news: GM +24.5% (Outside pressure grows for GM to oust Wagoner - WSJ), F +19.5%, HLYS +14.5% (declares a special cash dividend in the amount of $1.00 per share), CAT +7.2% (still checking), YHOO +6.9% (MSFT CEO is still interested in Yahoo!'s search business, according to The Wall Street Journal), NYX +5.2% (Several stories out discussing Deutsche Borse and NYSE merger talks), AAPL +3.2% ($99 iPhone is coming for the holidays at Wal-Mart - NY Post), DMND +2.7% and AA +2.5% (Cramer makes positive comments on MadMoney), MCD +1.6% (says Nov global comp sales were up 7.7%)... Analyst comments: KGC +6.2% (upgraded to Outperform at Credit Suisse), OKS +2.4% (upgraded to Overweight from Equal Weight at Barclays).

Disclaimer & How I use this list

The November payroll (unemployment) data was much worse then expected. It was the worst report since 1974 but the futures are actually higher than they were before the data was released. That's a promising reaction for the bulls but I want to see what happens in the last hour of the day.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

It seems like at best we're headed for another choppy session. Yesterday's chop was resolved to the upside but still left the indices lower than they started the week and below their September trendlines. This morning's weakness will wipe out a good chunk of yesterday's gains. Chop, chop...

On Today's Calendar:

• 10:00 -- Factory Orders

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: ISIL -13.4% (also downgraded to Neutral at Goldman - DJ), DMND -11.2% (also downgraded to Neutral at Merrill), CRUS -11.1%, DD -7.0%, AMD -6.8%, JAS -6.6% (also downgraded to Hold at Soleil), APH -6.4%, ADBE -6.2% (also downgraded to Neutral at Baird), PHG -6.1%, HOTT -5.3%, M -5.3%, TGT -5.0%, TOL -4.3%, AEO -4.1%, MRK -3.7%, PLCE -3.3% (light volume), ARO -3.1%, JCP -1.5%... M&A news: SNDK -9.6% (Toshiba says not planning to acquire SanDisk - DJ)... Select financials trading lower: RBS -10.9%, BCS -8.7%, ABK -8.3% (eliminates quarterly dividend), AXA -5.7%, PRU -5.1% (discloses intention to put its Wachovia Securities joint venture interests to Wells Fargo), MS -4.7% (ests cut at Bernstein to account for a retail brokerage slowdown), CIT -3.8%, COF -3.7% (confirms it will acquire Chevy Chase Bank), STD -3.6%, WB -3.5%, C -3.2%, USB -3.1%, BAC -2.3%, HBC -2.3%, GS -2.1%, JPM -2.0%... Select drug related names trading lower with MRK reaffirming guidance: SGP -4.3%, NVS -2.2%, AZN -2.0%, TEVA -1.2%... Select oil/gas names showing weakness with crude lower: STO -4.8%, COP -3.1%, BP -3.0%, TOT -2.2%, RDS.A -2.0%, CVX -1.7%... Select metals/mining names showing weakness with lower spot prices: GFI -7.4%, BBL -6.5%, BHP -4.0%, NGG -3.6%, RTP -2.9%, RIO -2.0% (Comp Vale Do Rio to cut Nickel output in Canada - DJ)... Select automakers trading lower: GM -8.8% (General Motors, Chrysler may accept bankruptcy to receive bailout - Bloomberg.com; also tgt cut to $2 at Credit Suisse), HMC -8.0%, TM -5.3%, F -2.5%... Other news: NXY -4.8% (looks to ward off bids - Globe and Mail), STM -3.5% (still checking), T -2.5% (announces a planned reduction of approximately 12,000 jobs, or about 4% of its total workforce)... Analyst comments: POL -4.3% (downgraded to Underweight at KeyBanc Capital Mkts), SLB -2.9% (downgraded to Outperform at Calyon).

Gapping Up

In reaction to strong earnings/guidance/same store sales: PSS +10.2%, SNPS +7.0% (also upgraded to Hold at Citigroup), AVAV +6.0%, CS +1.8%, WMT +1.6%... Other news: MNKD +19.6% (reports positive results from final two pivotal Phase 3 clinical studies in Type 1 and Type 2 diabetes), ENZN +13.9% (to purchase a portion of its outstanding debt), ING +6.0% (still checking), CELG +2.5% (Cramer makes positive comments on MadMoney), MAT +2.3% (wins permanent injunction vs MGA in Bratz case - Reuters.com), NOK +1.9% (lowers the mobile device industry outlook for Q4 2008 and gives outlook for 2009), STT +1.1% (takes plans to reduce operating costs; will reduce approx 6% of workforce)... Analyst comments: PBR +5.5% (upgraded to Buy at Standpoint), RHT +2.5% (upgraded to Buy at Jefferies), AMZN +1.3% (upgraded to Overweight at Barclays), AMAT +1.2% (upgraded to Buy at Citigroup).

Disclaimer & How I use this list

It was an ugly afternoon yesterday but the indices managed to stay above their November uptrend lines. They're getting squeezed between those rising November lines and the falling 50-day moving averages. Something's gotta give soon.

Yesterday the VIX got to within 0.25 of breaking its November low before the afternoon market weakness made it reverse. Let's see if it can finally break below 44...

On Today's Calendar:

• 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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The indices remain on the verge of breaking out above their December highs. Let's see if the options expiration games can help to do the trick.

On Today's Calendar:

• 10:00 -- Philadelphia Fed
• 10:00 -- Leading Indicators

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible longs: CX, CBI -- I'm seeing a lot of patterns like those two stocks. But while these two appear to be bouncing off of their 50-day moving average, most of the other charts are just under resistance. So I don't like the risk/reward on them, especially ahead of the Fed.

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The futures are getting jerked around by news on the auto makers' bailout. They were very weak to start the day after the vote failed to pass the senate last night. Now they've gained some strength on news of the President being willing to tap the TARP. This reminds me a lot of what happened during the voting on the TARP. I guess we'll just have to see what the government decides to do and go from there. From a technical standpoint, those December trendlines are in jeopardy.

On Today's Calendar:

• 10:00 -- Mich Sentiment-Prel.
• 10:00 -- Business Inventories

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible shorts: MSCC, XOP, RIG (and a lot of other oil stocks), SLAB, ISIL, ME

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:

Yesterday it felt like we were back in a market with normal volatility levels. But the VIX, which is still in the fifties, says otherwise. There were a lot of NR7s made yesterday, so perhaps that was just a slight pause before we get back to range expansion. Given the indices' overbought stochastic readings and the looming 50-day moving average I think the odds of a downward move is more likely.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Here's a shot of the QQQQ daily chart sowing it stuck for the moment between gap support and resistance from its declining 50-day moving average. In a normal market (less volatile) I'd be doubtful that it had enough steam to make it through the 50 DMA without a pullback. In this market, who knows...

On Today's Calendar:

• 10:00 -- Wholesale Inventories
• 10:35 -- Crude Inventories
• 2:00 -- Treasury Budget

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We're set for a lower open mostly due to the earnings warnings that rolled in overnight. The gaps down are relatively small though. QQQQ is set to open around yesterday's gap so I'll be watching to see if that gap can provide support.

On Today's Calendar:

• 10:00 -- Pending Home Sales

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We have a 3% gap up working this morning. That strength is taking the indices above and away from their September trendlines and to new 3-week highs. I don't know if this is the big short squeeze so many bulls have been looking for but I'd certainly be nervous if I was short right now. Out of the box I'm interested in how far the gap faders can push the market down. Bulls should want to see no more than a 1.5 to 2% pullback...

On Today's Calendar:

• 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: ITW -4.8% (light volume), BTH -3.7% (light volume), MMM -1.4%... Other news: ALTH -21.6% (announces top line results from Ph. 2 PROPEL trial of pralatrexate in patients with relapsed or refractory peripheral T-cell lymphoma), KSWS -8.3% (trading ex-dividend), AIB -4.9% (still checking for anything specific)... Analyst comments: IFX -8.3% (downgraded to Neutral at Goldman - DJ), CLWRD -3.5% (downgraded to Neutral at Merrill), MGLN -2.9% (downgraded to Neutral at Goldman - DJ).

Gapping Up

In reaction to strong earnings/guidance: MET +4.0%... Select financials showing continued strength: HIG +13.8%, ABK +10.4% (discloses that Ambac Assurance sent put exercise notices to each trust created as a vehicle for providing capital support to Ambac Assurance), AIG +7.7%, BAC +4.9%, C +4.5% (Citigroup and other ailing banks may need to boost their common equity - NY Post), ING +4.2%, JPM +3.1% (to participate in FDIC programs), MS +3.1%, RBS +2.6%, UBS +1.0%... Select oil/gas related names showing strength with crude higher: CHK +18.4% (updates financial and operational plans through 2010; also upgraded to Overweight from Neutral at J.P Morgan), BRY +12.3%, E +5.6% (Libya to pursue minority stake in Eni - WSJ), TOT +5.0%, COP +4.1%, HON +4.0%, PBR +4.0% (Brazil Minister says China, Petrobras in talks on $10 bln loan, according to report - DJ), STO +3.9%, VLO +3.8%, RDS.A +3.5%, BP +3.0%, CVX +2.6%, XOM +2.5%... Drug related names trading higher with select names reporting drug data: HGSI +19.2% (announces Albuferon meets primary endpoint in phase 3 Trial in chronic hepatitis C), GSK +3.3% (PROMACTA significantly increased platelet counts and reduced bleeding in long-term study of patients with chronic ITP), AZN +2.4%, SNY +2.4% (Ph. III trial results show Elitek significantly reduced plasma uric acid levels vs allopurinol in adults with hematologic cancers at risk for tumor lysis syndrome), SHPGY +1.8%... Select metals/mining names showing strength with higher spot prices: SLW +9.7%, AEM +8.0%, GG +6.9%, FCX +6.7%, MT +5.3%, BHP +4.3%, BBL +2.9%, GLD +2.2%, RTP +1.3%... Select iron/steel names trading higher: STLD +10.4%, X +9.9%, AKS +9.1%, NUE +5.6%... Select drybulk shippers showing strength : EXM +13.5%, DSX +7.5%, DRYS +5.3%... Other news: GM +24.5% (Outside pressure grows for GM to oust Wagoner - WSJ), F +19.5%, HLYS +14.5% (declares a special cash dividend in the amount of $1.00 per share), CAT +7.2% (still checking), YHOO +6.9% (MSFT CEO is still interested in Yahoo!'s search business, according to The Wall Street Journal), NYX +5.2% (Several stories out discussing Deutsche Borse and NYSE merger talks), AAPL +3.2% ($99 iPhone is coming for the holidays at Wal-Mart - NY Post), DMND +2.7% and AA +2.5% (Cramer makes positive comments on MadMoney), MCD +1.6% (says Nov global comp sales were up 7.7%)... Analyst comments: KGC +6.2% (upgraded to Outperform at Credit Suisse), OKS +2.4% (upgraded to Overweight from Equal Weight at Barclays).

Disclaimer & How I use this list

The November payroll (unemployment) data was much worse then expected. It was the worst report since 1974 but the futures are actually higher than they were before the data was released. That's a promising reaction for the bulls but I want to see what happens in the last hour of the day.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

It seems like at best we're headed for another choppy session. Yesterday's chop was resolved to the upside but still left the indices lower than they started the week and below their September trendlines. This morning's weakness will wipe out a good chunk of yesterday's gains. Chop, chop...

On Today's Calendar:

• 10:00 -- Factory Orders

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: ISIL -13.4% (also downgraded to Neutral at Goldman - DJ), DMND -11.2% (also downgraded to Neutral at Merrill), CRUS -11.1%, DD -7.0%, AMD -6.8%, JAS -6.6% (also downgraded to Hold at Soleil), APH -6.4%, ADBE -6.2% (also downgraded to Neutral at Baird), PHG -6.1%, HOTT -5.3%, M -5.3%, TGT -5.0%, TOL -4.3%, AEO -4.1%, MRK -3.7%, PLCE -3.3% (light volume), ARO -3.1%, JCP -1.5%... M&A news: SNDK -9.6% (Toshiba says not planning to acquire SanDisk - DJ)... Select financials trading lower: RBS -10.9%, BCS -8.7%, ABK -8.3% (eliminates quarterly dividend), AXA -5.7%, PRU -5.1% (discloses intention to put its Wachovia Securities joint venture interests to Wells Fargo), MS -4.7% (ests cut at Bernstein to account for a retail brokerage slowdown), CIT -3.8%, COF -3.7% (confirms it will acquire Chevy Chase Bank), STD -3.6%, WB -3.5%, C -3.2%, USB -3.1%, BAC -2.3%, HBC -2.3%, GS -2.1%, JPM -2.0%... Select drug related names trading lower with MRK reaffirming guidance: SGP -4.3%, NVS -2.2%, AZN -2.0%, TEVA -1.2%... Select oil/gas names showing weakness with crude lower: STO -4.8%, COP -3.1%, BP -3.0%, TOT -2.2%, RDS.A -2.0%, CVX -1.7%... Select metals/mining names showing weakness with lower spot prices: GFI -7.4%, BBL -6.5%, BHP -4.0%, NGG -3.6%, RTP -2.9%, RIO -2.0% (Comp Vale Do Rio to cut Nickel output in Canada - DJ)... Select automakers trading lower: GM -8.8% (General Motors, Chrysler may accept bankruptcy to receive bailout - Bloomberg.com; also tgt cut to $2 at Credit Suisse), HMC -8.0%, TM -5.3%, F -2.5%... Other news: NXY -4.8% (looks to ward off bids - Globe and Mail), STM -3.5% (still checking), T -2.5% (announces a planned reduction of approximately 12,000 jobs, or about 4% of its total workforce)... Analyst comments: POL -4.3% (downgraded to Underweight at KeyBanc Capital Mkts), SLB -2.9% (downgraded to Outperform at Calyon).

Gapping Up

In reaction to strong earnings/guidance/same store sales: PSS +10.2%, SNPS +7.0% (also upgraded to Hold at Citigroup), AVAV +6.0%, CS +1.8%, WMT +1.6%... Other news: MNKD +19.6% (reports positive results from final two pivotal Phase 3 clinical studies in Type 1 and Type 2 diabetes), ENZN +13.9% (to purchase a portion of its outstanding debt), ING +6.0% (still checking), CELG +2.5% (Cramer makes positive comments on MadMoney), MAT +2.3% (wins permanent injunction vs MGA in Bratz case - Reuters.com), NOK +1.9% (lowers the mobile device industry outlook for Q4 2008 and gives outlook for 2009), STT +1.1% (takes plans to reduce operating costs; will reduce approx 6% of workforce)... Analyst comments: PBR +5.5% (upgraded to Buy at Standpoint), RHT +2.5% (upgraded to Buy at Jefferies), AMZN +1.3% (upgraded to Overweight at Barclays), AMAT +1.2% (upgraded to Buy at Citigroup).

Disclaimer & How I use this list

It was an ugly afternoon yesterday but the indices managed to stay above their November uptrend lines. They're getting squeezed between those rising November lines and the falling 50-day moving averages. Something's gotta give soon.

Yesterday the VIX got to within 0.25 of breaking its November low before the afternoon market weakness made it reverse. Let's see if it can finally break below 44...

On Today's Calendar:

• 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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The indices remain on the verge of breaking out above their December highs. Let's see if the options expiration games can help to do the trick.

On Today's Calendar:

• 10:00 -- Philadelphia Fed
• 10:00 -- Leading Indicators

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible longs: CX, CBI -- I'm seeing a lot of patterns like those two stocks. But while these two appear to be bouncing off of their 50-day moving average, most of the other charts are just under resistance. So I don't like the risk/reward on them, especially ahead of the Fed.

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The futures are getting jerked around by news on the auto makers' bailout. They were very weak to start the day after the vote failed to pass the senate last night. Now they've gained some strength on news of the President being willing to tap the TARP. This reminds me a lot of what happened during the voting on the TARP. I guess we'll just have to see what the government decides to do and go from there. From a technical standpoint, those December trendlines are in jeopardy.

On Today's Calendar:

• 10:00 -- Mich Sentiment-Prel.
• 10:00 -- Business Inventories

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible shorts: MSCC, XOP, RIG (and a lot of other oil stocks), SLAB, ISIL, ME

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:

Yesterday it felt like we were back in a market with normal volatility levels. But the VIX, which is still in the fifties, says otherwise. There were a lot of NR7s made yesterday, so perhaps that was just a slight pause before we get back to range expansion. Given the indices' overbought stochastic readings and the looming 50-day moving average I think the odds of a downward move is more likely.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Here's a shot of the QQQQ daily chart sowing it stuck for the moment between gap support and resistance from its declining 50-day moving average. In a normal market (less volatile) I'd be doubtful that it had enough steam to make it through the 50 DMA without a pullback. In this market, who knows...

On Today's Calendar:

• 10:00 -- Wholesale Inventories
• 10:35 -- Crude Inventories
• 2:00 -- Treasury Budget

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We're set for a lower open mostly due to the earnings warnings that rolled in overnight. The gaps down are relatively small though. QQQQ is set to open around yesterday's gap so I'll be watching to see if that gap can provide support.

On Today's Calendar:

• 10:00 -- Pending Home Sales

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We have a 3% gap up working this morning. That strength is taking the indices above and away from their September trendlines and to new 3-week highs. I don't know if this is the big short squeeze so many bulls have been looking for but I'd certainly be nervous if I was short right now. Out of the box I'm interested in how far the gap faders can push the market down. Bulls should want to see no more than a 1.5 to 2% pullback...

On Today's Calendar:

• 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: ITW -4.8% (light volume), BTH -3.7% (light volume), MMM -1.4%... Other news: ALTH -21.6% (announces top line results from Ph. 2 PROPEL trial of pralatrexate in patients with relapsed or refractory peripheral T-cell lymphoma), KSWS -8.3% (trading ex-dividend), AIB -4.9% (still checking for anything specific)... Analyst comments: IFX -8.3% (downgraded to Neutral at Goldman - DJ), CLWRD -3.5% (downgraded to Neutral at Merrill), MGLN -2.9% (downgraded to Neutral at Goldman - DJ).

Gapping Up

In reaction to strong earnings/guidance: MET +4.0%... Select financials showing continued strength: HIG +13.8%, ABK +10.4% (discloses that Ambac Assurance sent put exercise notices to each trust created as a vehicle for providing capital support to Ambac Assurance), AIG +7.7%, BAC +4.9%, C +4.5% (Citigroup and other ailing banks may need to boost their common equity - NY Post), ING +4.2%, JPM +3.1% (to participate in FDIC programs), MS +3.1%, RBS +2.6%, UBS +1.0%... Select oil/gas related names showing strength with crude higher: CHK +18.4% (updates financial and operational plans through 2010; also upgraded to Overweight from Neutral at J.P Morgan), BRY +12.3%, E +5.6% (Libya to pursue minority stake in Eni - WSJ), TOT +5.0%, COP +4.1%, HON +4.0%, PBR +4.0% (Brazil Minister says China, Petrobras in talks on $10 bln loan, according to report - DJ), STO +3.9%, VLO +3.8%, RDS.A +3.5%, BP +3.0%, CVX +2.6%, XOM +2.5%... Drug related names trading higher with select names reporting drug data: HGSI +19.2% (announces Albuferon meets primary endpoint in phase 3 Trial in chronic hepatitis C), GSK +3.3% (PROMACTA significantly increased platelet counts and reduced bleeding in long-term study of patients with chronic ITP), AZN +2.4%, SNY +2.4% (Ph. III trial results show Elitek significantly reduced plasma uric acid levels vs allopurinol in adults with hematologic cancers at risk for tumor lysis syndrome), SHPGY +1.8%... Select metals/mining names showing strength with higher spot prices: SLW +9.7%, AEM +8.0%, GG +6.9%, FCX +6.7%, MT +5.3%, BHP +4.3%, BBL +2.9%, GLD +2.2%, RTP +1.3%... Select iron/steel names trading higher: STLD +10.4%, X +9.9%, AKS +9.1%, NUE +5.6%... Select drybulk shippers showing strength : EXM +13.5%, DSX +7.5%, DRYS +5.3%... Other news: GM +24.5% (Outside pressure grows for GM to oust Wagoner - WSJ), F +19.5%, HLYS +14.5% (declares a special cash dividend in the amount of $1.00 per share), CAT +7.2% (still checking), YHOO +6.9% (MSFT CEO is still interested in Yahoo!'s search business, according to The Wall Street Journal), NYX +5.2% (Several stories out discussing Deutsche Borse and NYSE merger talks), AAPL +3.2% ($99 iPhone is coming for the holidays at Wal-Mart - NY Post), DMND +2.7% and AA +2.5% (Cramer makes positive comments on MadMoney), MCD +1.6% (says Nov global comp sales were up 7.7%)... Analyst comments: KGC +6.2% (upgraded to Outperform at Credit Suisse), OKS +2.4% (upgraded to Overweight from Equal Weight at Barclays).

Disclaimer & How I use this list

The November payroll (unemployment) data was much worse then expected. It was the worst report since 1974 but the futures are actually higher than they were before the data was released. That's a promising reaction for the bulls but I want to see what happens in the last hour of the day.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

It seems like at best we're headed for another choppy session. Yesterday's chop was resolved to the upside but still left the indices lower than they started the week and below their September trendlines. This morning's weakness will wipe out a good chunk of yesterday's gains. Chop, chop...

On Today's Calendar:

• 10:00 -- Factory Orders

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: ISIL -13.4% (also downgraded to Neutral at Goldman - DJ), DMND -11.2% (also downgraded to Neutral at Merrill), CRUS -11.1%, DD -7.0%, AMD -6.8%, JAS -6.6% (also downgraded to Hold at Soleil), APH -6.4%, ADBE -6.2% (also downgraded to Neutral at Baird), PHG -6.1%, HOTT -5.3%, M -5.3%, TGT -5.0%, TOL -4.3%, AEO -4.1%, MRK -3.7%, PLCE -3.3% (light volume), ARO -3.1%, JCP -1.5%... M&A news: SNDK -9.6% (Toshiba says not planning to acquire SanDisk - DJ)... Select financials trading lower: RBS -10.9%, BCS -8.7%, ABK -8.3% (eliminates quarterly dividend), AXA -5.7%, PRU -5.1% (discloses intention to put its Wachovia Securities joint venture interests to Wells Fargo), MS -4.7% (ests cut at Bernstein to account for a retail brokerage slowdown), CIT -3.8%, COF -3.7% (confirms it will acquire Chevy Chase Bank), STD -3.6%, WB -3.5%, C -3.2%, USB -3.1%, BAC -2.3%, HBC -2.3%, GS -2.1%, JPM -2.0%... Select drug related names trading lower with MRK reaffirming guidance: SGP -4.3%, NVS -2.2%, AZN -2.0%, TEVA -1.2%... Select oil/gas names showing weakness with crude lower: STO -4.8%, COP -3.1%, BP -3.0%, TOT -2.2%, RDS.A -2.0%, CVX -1.7%... Select metals/mining names showing weakness with lower spot prices: GFI -7.4%, BBL -6.5%, BHP -4.0%, NGG -3.6%, RTP -2.9%, RIO -2.0% (Comp Vale Do Rio to cut Nickel output in Canada - DJ)... Select automakers trading lower: GM -8.8% (General Motors, Chrysler may accept bankruptcy to receive bailout - Bloomberg.com; also tgt cut to $2 at Credit Suisse), HMC -8.0%, TM -5.3%, F -2.5%... Other news: NXY -4.8% (looks to ward off bids - Globe and Mail), STM -3.5% (still checking), T -2.5% (announces a planned reduction of approximately 12,000 jobs, or about 4% of its total workforce)... Analyst comments: POL -4.3% (downgraded to Underweight at KeyBanc Capital Mkts), SLB -2.9% (downgraded to Outperform at Calyon).

Gapping Up

In reaction to strong earnings/guidance/same store sales: PSS +10.2%, SNPS +7.0% (also upgraded to Hold at Citigroup), AVAV +6.0%, CS +1.8%, WMT +1.6%... Other news: MNKD +19.6% (reports positive results from final two pivotal Phase 3 clinical studies in Type 1 and Type 2 diabetes), ENZN +13.9% (to purchase a portion of its outstanding debt), ING +6.0% (still checking), CELG +2.5% (Cramer makes positive comments on MadMoney), MAT +2.3% (wins permanent injunction vs MGA in Bratz case - Reuters.com), NOK +1.9% (lowers the mobile device industry outlook for Q4 2008 and gives outlook for 2009), STT +1.1% (takes plans to reduce operating costs; will reduce approx 6% of workforce)... Analyst comments: PBR +5.5% (upgraded to Buy at Standpoint), RHT +2.5% (upgraded to Buy at Jefferies), AMZN +1.3% (upgraded to Overweight at Barclays), AMAT +1.2% (upgraded to Buy at Citigroup).

Disclaimer & How I use this list

It was an ugly afternoon yesterday but the indices managed to stay above their November uptrend lines. They're getting squeezed between those rising November lines and the falling 50-day moving averages. Something's gotta give soon.

Yesterday the VIX got to within 0.25 of breaking its November low before the afternoon market weakness made it reverse. Let's see if it can finally break below 44...

On Today's Calendar:

• 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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The indices remain on the verge of breaking out above their December highs. Let's see if the options expiration games can help to do the trick.

On Today's Calendar:

• 10:00 -- Philadelphia Fed
• 10:00 -- Leading Indicators

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible longs: CX, CBI -- I'm seeing a lot of patterns like those two stocks. But while these two appear to be bouncing off of their 50-day moving average, most of the other charts are just under resistance. So I don't like the risk/reward on them, especially ahead of the Fed.

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The futures are getting jerked around by news on the auto makers' bailout. They were very weak to start the day after the vote failed to pass the senate last night. Now they've gained some strength on news of the President being willing to tap the TARP. This reminds me a lot of what happened during the voting on the TARP. I guess we'll just have to see what the government decides to do and go from there. From a technical standpoint, those December trendlines are in jeopardy.

On Today's Calendar:

• 10:00 -- Mich Sentiment-Prel.
• 10:00 -- Business Inventories

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible shorts: MSCC, XOP, RIG (and a lot of other oil stocks), SLAB, ISIL, ME

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:

Yesterday it felt like we were back in a market with normal volatility levels. But the VIX, which is still in the fifties, says otherwise. There were a lot of NR7s made yesterday, so perhaps that was just a slight pause before we get back to range expansion. Given the indices' overbought stochastic readings and the looming 50-day moving average I think the odds of a downward move is more likely.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Here's a shot of the QQQQ daily chart sowing it stuck for the moment between gap support and resistance from its declining 50-day moving average. In a normal market (less volatile) I'd be doubtful that it had enough steam to make it through the 50 DMA without a pullback. In this market, who knows...

On Today's Calendar:

• 10:00 -- Wholesale Inventories
• 10:35 -- Crude Inventories
• 2:00 -- Treasury Budget

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We're set for a lower open mostly due to the earnings warnings that rolled in overnight. The gaps down are relatively small though. QQQQ is set to open around yesterday's gap so I'll be watching to see if that gap can provide support.

On Today's Calendar:

• 10:00 -- Pending Home Sales

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We have a 3% gap up working this morning. That strength is taking the indices above and away from their September trendlines and to new 3-week highs. I don't know if this is the big short squeeze so many bulls have been looking for but I'd certainly be nervous if I was short right now. Out of the box I'm interested in how far the gap faders can push the market down. Bulls should want to see no more than a 1.5 to 2% pullback...

On Today's Calendar:

• 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: ITW -4.8% (light volume), BTH -3.7% (light volume), MMM -1.4%... Other news: ALTH -21.6% (announces top line results from Ph. 2 PROPEL trial of pralatrexate in patients with relapsed or refractory peripheral T-cell lymphoma), KSWS -8.3% (trading ex-dividend), AIB -4.9% (still checking for anything specific)... Analyst comments: IFX -8.3% (downgraded to Neutral at Goldman - DJ), CLWRD -3.5% (downgraded to Neutral at Merrill), MGLN -2.9% (downgraded to Neutral at Goldman - DJ).

Gapping Up

In reaction to strong earnings/guidance: MET +4.0%... Select financials showing continued strength: HIG +13.8%, ABK +10.4% (discloses that Ambac Assurance sent put exercise notices to each trust created as a vehicle for providing capital support to Ambac Assurance), AIG +7.7%, BAC +4.9%, C +4.5% (Citigroup and other ailing banks may need to boost their common equity - NY Post), ING +4.2%, JPM +3.1% (to participate in FDIC programs), MS +3.1%, RBS +2.6%, UBS +1.0%... Select oil/gas related names showing strength with crude higher: CHK +18.4% (updates financial and operational plans through 2010; also upgraded to Overweight from Neutral at J.P Morgan), BRY +12.3%, E +5.6% (Libya to pursue minority stake in Eni - WSJ), TOT +5.0%, COP +4.1%, HON +4.0%, PBR +4.0% (Brazil Minister says China, Petrobras in talks on $10 bln loan, according to report - DJ), STO +3.9%, VLO +3.8%, RDS.A +3.5%, BP +3.0%, CVX +2.6%, XOM +2.5%... Drug related names trading higher with select names reporting drug data: HGSI +19.2% (announces Albuferon meets primary endpoint in phase 3 Trial in chronic hepatitis C), GSK +3.3% (PROMACTA significantly increased platelet counts and reduced bleeding in long-term study of patients with chronic ITP), AZN +2.4%, SNY +2.4% (Ph. III trial results show Elitek significantly reduced plasma uric acid levels vs allopurinol in adults with hematologic cancers at risk for tumor lysis syndrome), SHPGY +1.8%... Select metals/mining names showing strength with higher spot prices: SLW +9.7%, AEM +8.0%, GG +6.9%, FCX +6.7%, MT +5.3%, BHP +4.3%, BBL +2.9%, GLD +2.2%, RTP +1.3%... Select iron/steel names trading higher: STLD +10.4%, X +9.9%, AKS +9.1%, NUE +5.6%... Select drybulk shippers showing strength : EXM +13.5%, DSX +7.5%, DRYS +5.3%... Other news: GM +24.5% (Outside pressure grows for GM to oust Wagoner - WSJ), F +19.5%, HLYS +14.5% (declares a special cash dividend in the amount of $1.00 per share), CAT +7.2% (still checking), YHOO +6.9% (MSFT CEO is still interested in Yahoo!'s search business, according to The Wall Street Journal), NYX +5.2% (Several stories out discussing Deutsche Borse and NYSE merger talks), AAPL +3.2% ($99 iPhone is coming for the holidays at Wal-Mart - NY Post), DMND +2.7% and AA +2.5% (Cramer makes positive comments on MadMoney), MCD +1.6% (says Nov global comp sales were up 7.7%)... Analyst comments: KGC +6.2% (upgraded to Outperform at Credit Suisse), OKS +2.4% (upgraded to Overweight from Equal Weight at Barclays).

Disclaimer & How I use this list

The November payroll (unemployment) data was much worse then expected. It was the worst report since 1974 but the futures are actually higher than they were before the data was released. That's a promising reaction for the bulls but I want to see what happens in the last hour of the day.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

It seems like at best we're headed for another choppy session. Yesterday's chop was resolved to the upside but still left the indices lower than they started the week and below their September trendlines. This morning's weakness will wipe out a good chunk of yesterday's gains. Chop, chop...

On Today's Calendar:

• 10:00 -- Factory Orders

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: ISIL -13.4% (also downgraded to Neutral at Goldman - DJ), DMND -11.2% (also downgraded to Neutral at Merrill), CRUS -11.1%, DD -7.0%, AMD -6.8%, JAS -6.6% (also downgraded to Hold at Soleil), APH -6.4%, ADBE -6.2% (also downgraded to Neutral at Baird), PHG -6.1%, HOTT -5.3%, M -5.3%, TGT -5.0%, TOL -4.3%, AEO -4.1%, MRK -3.7%, PLCE -3.3% (light volume), ARO -3.1%, JCP -1.5%... M&A news: SNDK -9.6% (Toshiba says not planning to acquire SanDisk - DJ)... Select financials trading lower: RBS -10.9%, BCS -8.7%, ABK -8.3% (eliminates quarterly dividend), AXA -5.7%, PRU -5.1% (discloses intention to put its Wachovia Securities joint venture interests to Wells Fargo), MS -4.7% (ests cut at Bernstein to account for a retail brokerage slowdown), CIT -3.8%, COF -3.7% (confirms it will acquire Chevy Chase Bank), STD -3.6%, WB -3.5%, C -3.2%, USB -3.1%, BAC -2.3%, HBC -2.3%, GS -2.1%, JPM -2.0%... Select drug related names trading lower with MRK reaffirming guidance: SGP -4.3%, NVS -2.2%, AZN -2.0%, TEVA -1.2%... Select oil/gas names showing weakness with crude lower: STO -4.8%, COP -3.1%, BP -3.0%, TOT -2.2%, RDS.A -2.0%, CVX -1.7%... Select metals/mining names showing weakness with lower spot prices: GFI -7.4%, BBL -6.5%, BHP -4.0%, NGG -3.6%, RTP -2.9%, RIO -2.0% (Comp Vale Do Rio to cut Nickel output in Canada - DJ)... Select automakers trading lower: GM -8.8% (General Motors, Chrysler may accept bankruptcy to receive bailout - Bloomberg.com; also tgt cut to $2 at Credit Suisse), HMC -8.0%, TM -5.3%, F -2.5%... Other news: NXY -4.8% (looks to ward off bids - Globe and Mail), STM -3.5% (still checking), T -2.5% (announces a planned reduction of approximately 12,000 jobs, or about 4% of its total workforce)... Analyst comments: POL -4.3% (downgraded to Underweight at KeyBanc Capital Mkts), SLB -2.9% (downgraded to Outperform at Calyon).

Gapping Up

In reaction to strong earnings/guidance/same store sales: PSS +10.2%, SNPS +7.0% (also upgraded to Hold at Citigroup), AVAV +6.0%, CS +1.8%, WMT +1.6%... Other news: MNKD +19.6% (reports positive results from final two pivotal Phase 3 clinical studies in Type 1 and Type 2 diabetes), ENZN +13.9% (to purchase a portion of its outstanding debt), ING +6.0% (still checking), CELG +2.5% (Cramer makes positive comments on MadMoney), MAT +2.3% (wins permanent injunction vs MGA in Bratz case - Reuters.com), NOK +1.9% (lowers the mobile device industry outlook for Q4 2008 and gives outlook for 2009), STT +1.1% (takes plans to reduce operating costs; will reduce approx 6% of workforce)... Analyst comments: PBR +5.5% (upgraded to Buy at Standpoint), RHT +2.5% (upgraded to Buy at Jefferies), AMZN +1.3% (upgraded to Overweight at Barclays), AMAT +1.2% (upgraded to Buy at Citigroup).

Disclaimer & How I use this list

It was an ugly afternoon yesterday but the indices managed to stay above their November uptrend lines. They're getting squeezed between those rising November lines and the falling 50-day moving averages. Something's gotta give soon.

Yesterday the VIX got to within 0.25 of breaking its November low before the afternoon market weakness made it reverse. Let's see if it can finally break below 44...

On Today's Calendar:

• 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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The indices remain on the verge of breaking out above their December highs. Let's see if the options expiration games can help to do the trick.

On Today's Calendar:

• 10:00 -- Philadelphia Fed
• 10:00 -- Leading Indicators

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible longs: CX, CBI -- I'm seeing a lot of patterns like those two stocks. But while these two appear to be bouncing off of their 50-day moving average, most of the other charts are just under resistance. So I don't like the risk/reward on them, especially ahead of the Fed.

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The futures are getting jerked around by news on the auto makers' bailout. They were very weak to start the day after the vote failed to pass the senate last night. Now they've gained some strength on news of the President being willing to tap the TARP. This reminds me a lot of what happened during the voting on the TARP. I guess we'll just have to see what the government decides to do and go from there. From a technical standpoint, those December trendlines are in jeopardy.

On Today's Calendar:

• 10:00 -- Mich Sentiment-Prel.
• 10:00 -- Business Inventories

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible shorts: MSCC, XOP, RIG (and a lot of other oil stocks), SLAB, ISIL, ME

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:

Yesterday it felt like we were back in a market with normal volatility levels. But the VIX, which is still in the fifties, says otherwise. There were a lot of NR7s made yesterday, so perhaps that was just a slight pause before we get back to range expansion. Given the indices' overbought stochastic readings and the looming 50-day moving average I think the odds of a downward move is more likely.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Here's a shot of the QQQQ daily chart sowing it stuck for the moment between gap support and resistance from its declining 50-day moving average. In a normal market (less volatile) I'd be doubtful that it had enough steam to make it through the 50 DMA without a pullback. In this market, who knows...

On Today's Calendar:

• 10:00 -- Wholesale Inventories
• 10:35 -- Crude Inventories
• 2:00 -- Treasury Budget

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We're set for a lower open mostly due to the earnings warnings that rolled in overnight. The gaps down are relatively small though. QQQQ is set to open around yesterday's gap so I'll be watching to see if that gap can provide support.

On Today's Calendar:

• 10:00 -- Pending Home Sales

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We have a 3% gap up working this morning. That strength is taking the indices above and away from their September trendlines and to new 3-week highs. I don't know if this is the big short squeeze so many bulls have been looking for but I'd certainly be nervous if I was short right now. Out of the box I'm interested in how far the gap faders can push the market down. Bulls should want to see no more than a 1.5 to 2% pullback...

On Today's Calendar:

• 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: ITW -4.8% (light volume), BTH -3.7% (light volume), MMM -1.4%... Other news: ALTH -21.6% (announces top line results from Ph. 2 PROPEL trial of pralatrexate in patients with relapsed or refractory peripheral T-cell lymphoma), KSWS -8.3% (trading ex-dividend), AIB -4.9% (still checking for anything specific)... Analyst comments: IFX -8.3% (downgraded to Neutral at Goldman - DJ), CLWRD -3.5% (downgraded to Neutral at Merrill), MGLN -2.9% (downgraded to Neutral at Goldman - DJ).

Gapping Up

In reaction to strong earnings/guidance: MET +4.0%... Select financials showing continued strength: HIG +13.8%, ABK +10.4% (discloses that Ambac Assurance sent put exercise notices to each trust created as a vehicle for providing capital support to Ambac Assurance), AIG +7.7%, BAC +4.9%, C +4.5% (Citigroup and other ailing banks may need to boost their common equity - NY Post), ING +4.2%, JPM +3.1% (to participate in FDIC programs), MS +3.1%, RBS +2.6%, UBS +1.0%... Select oil/gas related names showing strength with crude higher: CHK +18.4% (updates financial and operational plans through 2010; also upgraded to Overweight from Neutral at J.P Morgan), BRY +12.3%, E +5.6% (Libya to pursue minority stake in Eni - WSJ), TOT +5.0%, COP +4.1%, HON +4.0%, PBR +4.0% (Brazil Minister says China, Petrobras in talks on $10 bln loan, according to report - DJ), STO +3.9%, VLO +3.8%, RDS.A +3.5%, BP +3.0%, CVX +2.6%, XOM +2.5%... Drug related names trading higher with select names reporting drug data: HGSI +19.2% (announces Albuferon meets primary endpoint in phase 3 Trial in chronic hepatitis C), GSK +3.3% (PROMACTA significantly increased platelet counts and reduced bleeding in long-term study of patients with chronic ITP), AZN +2.4%, SNY +2.4% (Ph. III trial results show Elitek significantly reduced plasma uric acid levels vs allopurinol in adults with hematologic cancers at risk for tumor lysis syndrome), SHPGY +1.8%... Select metals/mining names showing strength with higher spot prices: SLW +9.7%, AEM +8.0%, GG +6.9%, FCX +6.7%, MT +5.3%, BHP +4.3%, BBL +2.9%, GLD +2.2%, RTP +1.3%... Select iron/steel names trading higher: STLD +10.4%, X +9.9%, AKS +9.1%, NUE +5.6%... Select drybulk shippers showing strength : EXM +13.5%, DSX +7.5%, DRYS +5.3%... Other news: GM +24.5% (Outside pressure grows for GM to oust Wagoner - WSJ), F +19.5%, HLYS +14.5% (declares a special cash dividend in the amount of $1.00 per share), CAT +7.2% (still checking), YHOO +6.9% (MSFT CEO is still interested in Yahoo!'s search business, according to The Wall Street Journal), NYX +5.2% (Several stories out discussing Deutsche Borse and NYSE merger talks), AAPL +3.2% ($99 iPhone is coming for the holidays at Wal-Mart - NY Post), DMND +2.7% and AA +2.5% (Cramer makes positive comments on MadMoney), MCD +1.6% (says Nov global comp sales were up 7.7%)... Analyst comments: KGC +6.2% (upgraded to Outperform at Credit Suisse), OKS +2.4% (upgraded to Overweight from Equal Weight at Barclays).

Disclaimer & How I use this list

The November payroll (unemployment) data was much worse then expected. It was the worst report since 1974 but the futures are actually higher than they were before the data was released. That's a promising reaction for the bulls but I want to see what happens in the last hour of the day.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

It seems like at best we're headed for another choppy session. Yesterday's chop was resolved to the upside but still left the indices lower than they started the week and below their September trendlines. This morning's weakness will wipe out a good chunk of yesterday's gains. Chop, chop...

On Today's Calendar:

• 10:00 -- Factory Orders

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: ISIL -13.4% (also downgraded to Neutral at Goldman - DJ), DMND -11.2% (also downgraded to Neutral at Merrill), CRUS -11.1%, DD -7.0%, AMD -6.8%, JAS -6.6% (also downgraded to Hold at Soleil), APH -6.4%, ADBE -6.2% (also downgraded to Neutral at Baird), PHG -6.1%, HOTT -5.3%, M -5.3%, TGT -5.0%, TOL -4.3%, AEO -4.1%, MRK -3.7%, PLCE -3.3% (light volume), ARO -3.1%, JCP -1.5%... M&A news: SNDK -9.6% (Toshiba says not planning to acquire SanDisk - DJ)... Select financials trading lower: RBS -10.9%, BCS -8.7%, ABK -8.3% (eliminates quarterly dividend), AXA -5.7%, PRU -5.1% (discloses intention to put its Wachovia Securities joint venture interests to Wells Fargo), MS -4.7% (ests cut at Bernstein to account for a retail brokerage slowdown), CIT -3.8%, COF -3.7% (confirms it will acquire Chevy Chase Bank), STD -3.6%, WB -3.5%, C -3.2%, USB -3.1%, BAC -2.3%, HBC -2.3%, GS -2.1%, JPM -2.0%... Select drug related names trading lower with MRK reaffirming guidance: SGP -4.3%, NVS -2.2%, AZN -2.0%, TEVA -1.2%... Select oil/gas names showing weakness with crude lower: STO -4.8%, COP -3.1%, BP -3.0%, TOT -2.2%, RDS.A -2.0%, CVX -1.7%... Select metals/mining names showing weakness with lower spot prices: GFI -7.4%, BBL -6.5%, BHP -4.0%, NGG -3.6%, RTP -2.9%, RIO -2.0% (Comp Vale Do Rio to cut Nickel output in Canada - DJ)... Select automakers trading lower: GM -8.8% (General Motors, Chrysler may accept bankruptcy to receive bailout - Bloomberg.com; also tgt cut to $2 at Credit Suisse), HMC -8.0%, TM -5.3%, F -2.5%... Other news: NXY -4.8% (looks to ward off bids - Globe and Mail), STM -3.5% (still checking), T -2.5% (announces a planned reduction of approximately 12,000 jobs, or about 4% of its total workforce)... Analyst comments: POL -4.3% (downgraded to Underweight at KeyBanc Capital Mkts), SLB -2.9% (downgraded to Outperform at Calyon).

Gapping Up

In reaction to strong earnings/guidance/same store sales: PSS +10.2%, SNPS +7.0% (also upgraded to Hold at Citigroup), AVAV +6.0%, CS +1.8%, WMT +1.6%... Other news: MNKD +19.6% (reports positive results from final two pivotal Phase 3 clinical studies in Type 1 and Type 2 diabetes), ENZN +13.9% (to purchase a portion of its outstanding debt), ING +6.0% (still checking), CELG +2.5% (Cramer makes positive comments on MadMoney), MAT +2.3% (wins permanent injunction vs MGA in Bratz case - Reuters.com), NOK +1.9% (lowers the mobile device industry outlook for Q4 2008 and gives outlook for 2009), STT +1.1% (takes plans to reduce operating costs; will reduce approx 6% of workforce)... Analyst comments: PBR +5.5% (upgraded to Buy at Standpoint), RHT +2.5% (upgraded to Buy at Jefferies), AMZN +1.3% (upgraded to Overweight at Barclays), AMAT +1.2% (upgraded to Buy at Citigroup).

Disclaimer & How I use this list

It was an ugly afternoon yesterday but the indices managed to stay above their November uptrend lines. They're getting squeezed between those rising November lines and the falling 50-day moving averages. Something's gotta give soon.

Yesterday the VIX got to within 0.25 of breaking its November low before the afternoon market weakness made it reverse. Let's see if it can finally break below 44...

On Today's Calendar:

• 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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The indices remain on the verge of breaking out above their December highs. Let's see if the options expiration games can help to do the trick.

On Today's Calendar:

• 10:00 -- Philadelphia Fed
• 10:00 -- Leading Indicators

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible longs: CX, CBI -- I'm seeing a lot of patterns like those two stocks. But while these two appear to be bouncing off of their 50-day moving average, most of the other charts are just under resistance. So I don't like the risk/reward on them, especially ahead of the Fed.

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The futures are getting jerked around by news on the auto makers' bailout. They were very weak to start the day after the vote failed to pass the senate last night. Now they've gained some strength on news of the President being willing to tap the TARP. This reminds me a lot of what happened during the voting on the TARP. I guess we'll just have to see what the government decides to do and go from there. From a technical standpoint, those December trendlines are in jeopardy.

On Today's Calendar:

• 10:00 -- Mich Sentiment-Prel.
• 10:00 -- Business Inventories

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible shorts: MSCC, XOP, RIG (and a lot of other oil stocks), SLAB, ISIL, ME

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:

Yesterday it felt like we were back in a market with normal volatility levels. But the VIX, which is still in the fifties, says otherwise. There were a lot of NR7s made yesterday, so perhaps that was just a slight pause before we get back to range expansion. Given the indices' overbought stochastic readings and the looming 50-day moving average I think the odds of a downward move is more likely.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Here's a shot of the QQQQ daily chart sowing it stuck for the moment between gap support and resistance from its declining 50-day moving average. In a normal market (less volatile) I'd be doubtful that it had enough steam to make it through the 50 DMA without a pullback. In this market, who knows...

On Today's Calendar:

• 10:00 -- Wholesale Inventories
• 10:35 -- Crude Inventories
• 2:00 -- Treasury Budget

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We're set for a lower open mostly due to the earnings warnings that rolled in overnight. The gaps down are relatively small though. QQQQ is set to open around yesterday's gap so I'll be watching to see if that gap can provide support.

On Today's Calendar:

• 10:00 -- Pending Home Sales

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We have a 3% gap up working this morning. That strength is taking the indices above and away from their September trendlines and to new 3-week highs. I don't know if this is the big short squeeze so many bulls have been looking for but I'd certainly be nervous if I was short right now. Out of the box I'm interested in how far the gap faders can push the market down. Bulls should want to see no more than a 1.5 to 2% pullback...

On Today's Calendar:

• 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: ITW -4.8% (light volume), BTH -3.7% (light volume), MMM -1.4%... Other news: ALTH -21.6% (announces top line results from Ph. 2 PROPEL trial of pralatrexate in patients with relapsed or refractory peripheral T-cell lymphoma), KSWS -8.3% (trading ex-dividend), AIB -4.9% (still checking for anything specific)... Analyst comments: IFX -8.3% (downgraded to Neutral at Goldman - DJ), CLWRD -3.5% (downgraded to Neutral at Merrill), MGLN -2.9% (downgraded to Neutral at Goldman - DJ).

Gapping Up

In reaction to strong earnings/guidance: MET +4.0%... Select financials showing continued strength: HIG +13.8%, ABK +10.4% (discloses that Ambac Assurance sent put exercise notices to each trust created as a vehicle for providing capital support to Ambac Assurance), AIG +7.7%, BAC +4.9%, C +4.5% (Citigroup and other ailing banks may need to boost their common equity - NY Post), ING +4.2%, JPM +3.1% (to participate in FDIC programs), MS +3.1%, RBS +2.6%, UBS +1.0%... Select oil/gas related names showing strength with crude higher: CHK +18.4% (updates financial and operational plans through 2010; also upgraded to Overweight from Neutral at J.P Morgan), BRY +12.3%, E +5.6% (Libya to pursue minority stake in Eni - WSJ), TOT +5.0%, COP +4.1%, HON +4.0%, PBR +4.0% (Brazil Minister says China, Petrobras in talks on $10 bln loan, according to report - DJ), STO +3.9%, VLO +3.8%, RDS.A +3.5%, BP +3.0%, CVX +2.6%, XOM +2.5%... Drug related names trading higher with select names reporting drug data: HGSI +19.2% (announces Albuferon meets primary endpoint in phase 3 Trial in chronic hepatitis C), GSK +3.3% (PROMACTA significantly increased platelet counts and reduced bleeding in long-term study of patients with chronic ITP), AZN +2.4%, SNY +2.4% (Ph. III trial results show Elitek significantly reduced plasma uric acid levels vs allopurinol in adults with hematologic cancers at risk for tumor lysis syndrome), SHPGY +1.8%... Select metals/mining names showing strength with higher spot prices: SLW +9.7%, AEM +8.0%, GG +6.9%, FCX +6.7%, MT +5.3%, BHP +4.3%, BBL +2.9%, GLD +2.2%, RTP +1.3%... Select iron/steel names trading higher: STLD +10.4%, X +9.9%, AKS +9.1%, NUE +5.6%... Select drybulk shippers showing strength : EXM +13.5%, DSX +7.5%, DRYS +5.3%... Other news: GM +24.5% (Outside pressure grows for GM to oust Wagoner - WSJ), F +19.5%, HLYS +14.5% (declares a special cash dividend in the amount of $1.00 per share), CAT +7.2% (still checking), YHOO +6.9% (MSFT CEO is still interested in Yahoo!'s search business, according to The Wall Street Journal), NYX +5.2% (Several stories out discussing Deutsche Borse and NYSE merger talks), AAPL +3.2% ($99 iPhone is coming for the holidays at Wal-Mart - NY Post), DMND +2.7% and AA +2.5% (Cramer makes positive comments on MadMoney), MCD +1.6% (says Nov global comp sales were up 7.7%)... Analyst comments: KGC +6.2% (upgraded to Outperform at Credit Suisse), OKS +2.4% (upgraded to Overweight from Equal Weight at Barclays).

Disclaimer & How I use this list

The November payroll (unemployment) data was much worse then expected. It was the worst report since 1974 but the futures are actually higher than they were before the data was released. That's a promising reaction for the bulls but I want to see what happens in the last hour of the day.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

It seems like at best we're headed for another choppy session. Yesterday's chop was resolved to the upside but still left the indices lower than they started the week and below their September trendlines. This morning's weakness will wipe out a good chunk of yesterday's gains. Chop, chop...

On Today's Calendar:

• 10:00 -- Factory Orders

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: ISIL -13.4% (also downgraded to Neutral at Goldman - DJ), DMND -11.2% (also downgraded to Neutral at Merrill), CRUS -11.1%, DD -7.0%, AMD -6.8%, JAS -6.6% (also downgraded to Hold at Soleil), APH -6.4%, ADBE -6.2% (also downgraded to Neutral at Baird), PHG -6.1%, HOTT -5.3%, M -5.3%, TGT -5.0%, TOL -4.3%, AEO -4.1%, MRK -3.7%, PLCE -3.3% (light volume), ARO -3.1%, JCP -1.5%... M&A news: SNDK -9.6% (Toshiba says not planning to acquire SanDisk - DJ)... Select financials trading lower: RBS -10.9%, BCS -8.7%, ABK -8.3% (eliminates quarterly dividend), AXA -5.7%, PRU -5.1% (discloses intention to put its Wachovia Securities joint venture interests to Wells Fargo), MS -4.7% (ests cut at Bernstein to account for a retail brokerage slowdown), CIT -3.8%, COF -3.7% (confirms it will acquire Chevy Chase Bank), STD -3.6%, WB -3.5%, C -3.2%, USB -3.1%, BAC -2.3%, HBC -2.3%, GS -2.1%, JPM -2.0%... Select drug related names trading lower with MRK reaffirming guidance: SGP -4.3%, NVS -2.2%, AZN -2.0%, TEVA -1.2%... Select oil/gas names showing weakness with crude lower: STO -4.8%, COP -3.1%, BP -3.0%, TOT -2.2%, RDS.A -2.0%, CVX -1.7%... Select metals/mining names showing weakness with lower spot prices: GFI -7.4%, BBL -6.5%, BHP -4.0%, NGG -3.6%, RTP -2.9%, RIO -2.0% (Comp Vale Do Rio to cut Nickel output in Canada - DJ)... Select automakers trading lower: GM -8.8% (General Motors, Chrysler may accept bankruptcy to receive bailout - Bloomberg.com; also tgt cut to $2 at Credit Suisse), HMC -8.0%, TM -5.3%, F -2.5%... Other news: NXY -4.8% (looks to ward off bids - Globe and Mail), STM -3.5% (still checking), T -2.5% (announces a planned reduction of approximately 12,000 jobs, or about 4% of its total workforce)... Analyst comments: POL -4.3% (downgraded to Underweight at KeyBanc Capital Mkts), SLB -2.9% (downgraded to Outperform at Calyon).

Gapping Up

In reaction to strong earnings/guidance/same store sales: PSS +10.2%, SNPS +7.0% (also upgraded to Hold at Citigroup), AVAV +6.0%, CS +1.8%, WMT +1.6%... Other news: MNKD +19.6% (reports positive results from final two pivotal Phase 3 clinical studies in Type 1 and Type 2 diabetes), ENZN +13.9% (to purchase a portion of its outstanding debt), ING +6.0% (still checking), CELG +2.5% (Cramer makes positive comments on MadMoney), MAT +2.3% (wins permanent injunction vs MGA in Bratz case - Reuters.com), NOK +1.9% (lowers the mobile device industry outlook for Q4 2008 and gives outlook for 2009), STT +1.1% (takes plans to reduce operating costs; will reduce approx 6% of workforce)... Analyst comments: PBR +5.5% (upgraded to Buy at Standpoint), RHT +2.5% (upgraded to Buy at Jefferies), AMZN +1.3% (upgraded to Overweight at Barclays), AMAT +1.2% (upgraded to Buy at Citigroup).

Disclaimer & How I use this list

It was an ugly afternoon yesterday but the indices managed to stay above their November uptrend lines. They're getting squeezed between those rising November lines and the falling 50-day moving averages. Something's gotta give soon.

Yesterday the VIX got to within 0.25 of breaking its November low before the afternoon market weakness made it reverse. Let's see if it can finally break below 44...

On Today's Calendar:

• 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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The indices remain on the verge of breaking out above their December highs. Let's see if the options expiration games can help to do the trick.

On Today's Calendar:

• 10:00 -- Philadelphia Fed
• 10:00 -- Leading Indicators

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible longs: CX, CBI -- I'm seeing a lot of patterns like those two stocks. But while these two appear to be bouncing off of their 50-day moving average, most of the other charts are just under resistance. So I don't like the risk/reward on them, especially ahead of the Fed.

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:

Note: I can't post the gappers any more. I'm trying to find another way to post the early movers, hopefully via a live scan. Stay tuned...

Disclaimer & How I use this list

The futures are getting jerked around by news on the auto makers' bailout. They were very weak to start the day after the vote failed to pass the senate last night. Now they've gained some strength on news of the President being willing to tap the TARP. This reminds me a lot of what happened during the voting on the TARP. I guess we'll just have to see what the government decides to do and go from there. From a technical standpoint, those December trendlines are in jeopardy.

On Today's Calendar:

• 10:00 -- Mich Sentiment-Prel.
• 10:00 -- Business Inventories

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Possible shorts: MSCC, XOP, RIG (and a lot of other oil stocks), SLAB, ISIL, ME

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:

Yesterday it felt like we were back in a market with normal volatility levels. But the VIX, which is still in the fifties, says otherwise. There were a lot of NR7s made yesterday, so perhaps that was just a slight pause before we get back to range expansion. Given the indices' overbought stochastic readings and the looming 50-day moving average I think the odds of a downward move is more likely.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

Here's a shot of the QQQQ daily chart sowing it stuck for the moment between gap support and resistance from its declining 50-day moving average. In a normal market (less volatile) I'd be doubtful that it had enough steam to make it through the 50 DMA without a pullback. In this market, who knows...

On Today's Calendar:

• 10:00 -- Wholesale Inventories
• 10:35 -- Crude Inventories
• 2:00 -- Treasury Budget

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We're set for a lower open mostly due to the earnings warnings that rolled in overnight. The gaps down are relatively small though. QQQQ is set to open around yesterday's gap so I'll be watching to see if that gap can provide support.

On Today's Calendar:

• 10:00 -- Pending Home Sales

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

We have a 3% gap up working this morning. That strength is taking the indices above and away from their September trendlines and to new 3-week highs. I don't know if this is the big short squeeze so many bulls have been looking for but I'd certainly be nervous if I was short right now. Out of the box I'm interested in how far the gap faders can push the market down. Bulls should want to see no more than a 1.5 to 2% pullback...

On Today's Calendar:

• 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: ITW -4.8% (light volume), BTH -3.7% (light volume), MMM -1.4%... Other news: ALTH -21.6% (announces top line results from Ph. 2 PROPEL trial of pralatrexate in patients with relapsed or refractory peripheral T-cell lymphoma), KSWS -8.3% (trading ex-dividend), AIB -4.9% (still checking for anything specific)... Analyst comments: IFX -8.3% (downgraded to Neutral at Goldman - DJ), CLWRD -3.5% (downgraded to Neutral at Merrill), MGLN -2.9% (downgraded to Neutral at Goldman - DJ).

Gapping Up

In reaction to strong earnings/guidance: MET +4.0%... Select financials showing continued strength: HIG +13.8%, ABK +10.4% (discloses that Ambac Assurance sent put exercise notices to each trust created as a vehicle for providing capital support to Ambac Assurance), AIG +7.7%, BAC +4.9%, C +4.5% (Citigroup and other ailing banks may need to boost their common equity - NY Post), ING +4.2%, JPM +3.1% (to participate in FDIC programs), MS +3.1%, RBS +2.6%, UBS +1.0%... Select oil/gas related names showing strength with crude higher: CHK +18.4% (updates financial and operational plans through 2010; also upgraded to Overweight from Neutral at J.P Morgan), BRY +12.3%, E +5.6% (Libya to pursue minority stake in Eni - WSJ), TOT +5.0%, COP +4.1%, HON +4.0%, PBR +4.0% (Brazil Minister says China, Petrobras in talks on $10 bln loan, according to report - DJ), STO +3.9%, VLO +3.8%, RDS.A +3.5%, BP +3.0%, CVX +2.6%, XOM +2.5%... Drug related names trading higher with select names reporting drug data: HGSI +19.2% (announces Albuferon meets primary endpoint in phase 3 Trial in chronic hepatitis C), GSK +3.3% (PROMACTA significantly increased platelet counts and reduced bleeding in long-term study of patients with chronic ITP), AZN +2.4%, SNY +2.4% (Ph. III trial results show Elitek significantly reduced plasma uric acid levels vs allopurinol in adults with hematologic cancers at risk for tumor lysis syndrome), SHPGY +1.8%... Select metals/mining names showing strength with higher spot prices: SLW +9.7%, AEM +8.0%, GG +6.9%, FCX +6.7%, MT +5.3%, BHP +4.3%, BBL +2.9%, GLD +2.2%, RTP +1.3%... Select iron/steel names trading higher: STLD +10.4%, X +9.9%, AKS +9.1%, NUE +5.6%... Select drybulk shippers showing strength : EXM +13.5%, DSX +7.5%, DRYS +5.3%... Other news: GM +24.5% (Outside pressure grows for GM to oust Wagoner - WSJ), F +19.5%, HLYS +14.5% (declares a special cash dividend in the amount of $1.00 per share), CAT +7.2% (still checking), YHOO +6.9% (MSFT CEO is still interested in Yahoo!'s search business, according to The Wall Street Journal), NYX +5.2% (Several stories out discussing Deutsche Borse and NYSE merger talks), AAPL +3.2% ($99 iPhone is coming for the holidays at Wal-Mart - NY Post), DMND +2.7% and AA +2.5% (Cramer makes positive comments on MadMoney), MCD +1.6% (says Nov global comp sales were up 7.7%)... Analyst comments: KGC +6.2% (upgraded to Outperform at Credit Suisse), OKS +2.4% (upgraded to Overweight from Equal Weight at Barclays).

Disclaimer & How I use this list

The November payroll (unemployment) data was much worse then expected. It was the worst report since 1974 but the futures are actually higher than they were before the data was released. That's a promising reaction for the bulls but I want to see what happens in the last hour of the day.

On Today's Calendar:

• nothing

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic

Potential swing trades:

It seems like at best we're headed for another choppy session. Yesterday's chop was resolved to the upside but still left the indices lower than they started the week and below their September trendlines. This morning's weakness will wipe out a good chunk of yesterday's gains. Chop, chop...

On Today's Calendar:

• 10:00 -- Factory Orders

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: ISIL -13.4% (also downgraded to Neutral at Goldman - DJ), DMND -11.2% (also downgraded to Neutral at Merrill), CRUS -11.1%, DD -7.0%, AMD -6.8%, JAS -6.6% (also downgraded to Hold at Soleil), APH -6.4%, ADBE -6.2% (also downgraded to Neutral at Baird), PHG -6.1%, HOTT -5.3%, M -5.3%, TGT -5.0%, TOL -4.3%, AEO -4.1%, MRK -3.7%, PLCE -3.3% (light volume), ARO -3.1%, JCP -1.5%... M&A news: SNDK -9.6% (Toshiba says not planning to acquire SanDisk - DJ)... Select financials trading lower: RBS -10.9%, BCS -8.7%, ABK -8.3% (eliminates quarterly dividend), AXA -5.7%, PRU -5.1% (discloses intention to put its Wachovia Securities joint venture interests to Wells Fargo), MS -4.7% (ests cut at Bernstein to account for a retail brokerage slowdown), CIT -3.8%, COF -3.7% (confirms it will acquire Chevy Chase Bank), STD -3.6%, WB -3.5%, C -3.2%, USB -3.1%, BAC -2.3%, HBC -2.3%, GS -2.1%, JPM -2.0%... Select drug related names trading lower with MRK reaffirming guidance: SGP -4.3%, NVS -2.2%, AZN -2.0%, TEVA -1.2%... Select oil/gas names showing weakness with crude lower: STO -4.8%, COP -3.1%, BP -3.0%, TOT -2.2%, RDS.A -2.0%, CVX -1.7%... Select metals/mining names showing weakness with lower spot prices: GFI -7.4%, BBL -6.5%, BHP -4.0%, NGG -3.6%, RTP -2.9%, RIO -2.0% (Comp Vale Do Rio to cut Nickel output in Canada - DJ)... Select automakers trading lower: GM -8.8% (General Motors, Chrysler may accept bankruptcy to receive bailout - Bloomberg.com; also tgt cut to $2 at Credit Suisse), HMC -8.0%, TM -5.3%, F -2.5%... Other news: NXY -4.8% (looks to ward off bids - Globe and Mail), STM -3.5% (still checking), T -2.5% (announces a planned reduction of approximately 12,000 jobs, or about 4% of its total workforce)... Analyst comments: POL -4.3% (downgraded to Underweight at KeyBanc Capital Mkts), SLB -2.9% (downgraded to Outperform at Calyon).

Gapping Up

In reaction to strong earnings/guidance/same store sales: PSS +10.2%, SNPS +7.0% (also upgraded to Hold at Citigroup), AVAV +6.0%, CS +1.8%, WMT +1.6%... Other news: MNKD +19.6% (reports positive results from final two pivotal Phase 3 clinical studies in Type 1 and Type 2 diabetes), ENZN +13.9% (to purchase a portion of its outstanding debt), ING +6.0% (still checking), CELG +2.5% (Cramer makes positive comments on MadMoney), MAT +2.3% (wins permanent injunction vs MGA in Bratz case - Reuters.com), NOK +1.9% (lowers the mobile device industry outlook for Q4 2008 and gives outlook for 2009), STT +1.1% (takes plans to reduce operating costs; will reduce approx 6% of workforce)... Analyst comments: PBR +5.5% (upgraded to Buy at Standpoint), RHT +2.5% (upgraded to Buy at Jefferies), AMZN +1.3% (upgraded to Overweight at Barclays), AMAT +1.2% (upgraded to Buy at Citigroup).

Disclaimer & How I use this list