Watchlist for October 11, 2006

The sellers have come back thanks to earnings reports by AA and DNA. So it looks like I’ll be sticking with my “evil”, un-American, plan of hunting for shorts today. Yesterday, despite the choppiness, I actually manged to have a pretty good day. I was 400% short for most of the day and ended up making just over 2.5% (thanks YHOO, VECO and LPNT!) The market rarely makes it easy though and I’m not thrilled about this big gap down. I’m hoping we get some eraly buying which could set up some decent shorts.

From the shameless promotions file, there’s another WallStrip teaser up starring Howard with a cameo by some dude named Mike. There’s also an interview with the host of WallStrip, Lindsay Campbell.

On Today’s Calendar:

• 10:30 AM — Crude Inventories delayed until tomorrow due to Columbus Day
• 2:00 PM — Sept 20th FOMC Minutes

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.

Potential day trades:

(From Briefing.com)

Gapping Down

CNET -13% (guides lower), LM -13% (guides below consensus; also FBR downrgade), SCHW -8.1% (BofA offers free online trades — Reuters), AMTD -9.4% (same), VOXX -9.5% (reports Q2), AA -5.8% (reports Q3; down in sympathy: ERS -5.3%, AL -3.8%, CENX -2.2%), ACOR -4%, AXS -3.3% (Citigroup downgrades to Sell), CHTT -3.2% (JP Morgan downgrade), CPKI -3.3% (provides guidance; broker downgrade), OSIP -2.8% (partner DNA reports disappointing Tarceva sales), NAVR -2.6% (to take charge on Tower Records bankruptcy), NFI -2.5% (Morgan Stanely downgrade), SHPGY -2.5% (Goldman downgrade), IMCL -2.4% (profit taking after recent strong move), DNA -1.9% (reports Q3; weak Tarceva sales), MRVL -2% (JMP downgrade), CMI -1.7% (Credit Suisse downgrade), AAPL -1% (options probe could raise conflicts – WSJ).

Gapping Up

JJZ +18% (to be acquired), RMBS +7.4% (announces license agreement with Toshiba), GORX +8.2% (recovers after 10% drop yesterday), VBAC +7.5% (increases offer for publicly held shares), BLDP +4.3% (announces contract), NRPH +3.2% (FBR raises tgt to $52), INFY +3.1% (reports SepQ), XTLB +11%, RVSN +2.7% (extends recent movement), ATML +2.5% (report that former CEO potentially preparing a bid for co), PEIX +2.2% (extends recent momentum, comments on ethanol by Energy Sec Bodman), OTEX +2.2% (guides above consensus), BMC +1.9% (guides higher), PHRM +1.6% (Piper upgrade), NTRI +1.5% (Citigroup raises tgt to $95 from $85), ESRX +1% (Matrix upgrade, buy interest following multi-day plunge).

Disclaimer & How I use this list