Watchlist for October 9, 2008

The bulls are giving it another shot this morning. I think that breaking yesterday’s highs will be key for them. That would make the first higher high on a daily basis in10 sessions on the QQQQ & Nasdaq.

On Today’s Calendar:

• 10:00 — Wholesale Inventories

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: MW -10.7% (also target cut to $17 at Wedbush), RT -9.1% (also downgraded to Neutral from Outperform at Credit Suisse), CHRD -7.5%, ANF -4.9%, TJX -4.0%… M&A news: LDG -1.6% (Walgreen withdraws proposal to acquire Longs Drug Stores)… Select metals/mining stocks pulling back with lower spot prices: HMY -6.2%, GOLD -4.3%, GG -4.2%, ABX -3.2%, AUY -2.7%, AEM -2.6%, GLD -2.2%, NEM -2.0%… Other news: CS -8.8% (could post Q3 loss – Reuters.com), IFX -6.5% (checking for anything specific), MET -1.1% (prices public offering of common stock at $26.50)

Gapping Up

In reaction to strong earnings/guidance: IBM +5.2%… Select financial names rebounding: NCC +21.1% (in talks with a number of banks about a possible sale – WSJ), SOV +7.9%, LYG +6.8%, ABK +6.7%, AIG +6.0%, DB +5.3%, C +3.9%, BAC +1.8% (upgraded to Outperform at Baird), RBS +1.6% (WSJ reports the fact that the U.K. government is doing a bailout should remove fears that a large London bank could fail)… Other news: HUN +43.2% (Hexion Specialty Chemicals announces capital contribution from Apollo Management), IVAN +14.8% (Energy Ecuador signs contract with state oil company Petroecuador to develop Ecuador’s Pungarayacu heavy-oil field), AAUK +7.0% (still checking), NOK +4.8% (still checking), QSFT +2.3% (announces appointment of CEO; Intention to repurchase up to $400 mln of common stock).

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