Watchlist for December 21, 2004

I’ve got a short list of swing candidates once again. There were a lot of shooting stars yesterday but most were on overall bullish charts. So they’re all in the ‘avoid’ camp for me right now. It’s looking like today may be another snoozer…

Currently holding:

Long – ADBE, CME, FBR, FORM, MYGN

Short – ADI

Looking for swing trade entries in:

Longs – DRIV, DVA

Shorts – KOSP, PLB, SCSS

Potential day trades:

(From Briefing.com)

Gapping Down

SSTI -20% (guides lower, cut to Sell from Hold at WR Hambrecht; Piper downgrade), LFUS -17% (guides well below consensus), CTIC -5.4% (enters into financing agreement with PharmaBio Development), ENCY -5.3% (disappointing clinical data), NBIX -4.1% (NDA to be reformated), ATYT -3.2% (reports NovQ, revs light), SIRI -2.4% (profit taking after recent strong run).

Gapping Up

IACI +10% (plans to split off its Expedia travel business), CVC +8.6% (suspends Rainbow Media spin-off), SMIT +23% (reports NovQ), NRRD +14% (to be acquired by BBOX), REMC +12% (Cobham buys Remec unit for $260 mln), EGHT +11% (initiated with Buy and $7 tgt at Needham), ARNA +11% (to collaborate with JNJ’s Ortho-McNeil), VIP +10% (Russia could cut Vimpelcom’s back tax claim-Reuters), GERN +9% (receives patent), KFX +6% (completes license agreement), VNUS +6% (publication of positive clinical study), ISON +5.3%, SNDA +5% (initiated with Buy and $50 tgt at Roth Capital), MIKR +5%, PLAY +4.2% (intiated with a Buy at Hudson Square; tgt $35), OSIP +3% (target raised to $111 from $90 at Bear Stearns), CTXS +2.6% (signs 5-yr tech collaboration and licensing agreement with Microsoft), SEPR +2.3% (higher on NBIX news), NOK +2.2%, PFE +2% (discussed favorably in Barron’s Online), INTC +1.6% (Lehman upgrade), NYER +13% (election of directors puts co in Nasdaq compliance)…. Under $3: VCMP +64% (awarded contract by BearingPoint), GNBT +23% (co and Elan terminate joint venture), EPMN +20% (provides uUpdate on cancer and HIV programs), IBIS +6%.

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