My morning watch list

It’s looking like a good put (or shorting) opportunity today.  I’m watching some of my favorites and like where I might get a chance to enter.

FSLR is up pre-hours.  This will be a great short or put buying chance.  I’ll probably look at buying a ITM (in the money) put on FSLR if it’s up when the market starts.

CFC would be a great shorting opportunity, but better for puts if I could have gotten in yesterday when it was up.  Countrywide said mortgage-loan fundings for the month of November totaled $23 billion, a 40% decline from November 2006.  However, total mortgage-loan fundings were up 5% from the prior month.  Average daily mortgage-loan application activity for November was $1.9 billion, a 32% decrease from November 2006. , which is a great thing if you are short the stock.  Not so good if you are long.

RBC decided that RIMM should have it’s target lowered, so they did just that.  Lowering the previous target of $180 to $140 still seems pretty optimistic.  I’m sure that if I were guaranteed a 40% profit on something I would take it.  Anyone believe the new target will be reached?

NBIX might be a buy opportunity.  It’s at nice new low levels after getting an FDA letter.  The stock is down over 40%, trading at just $5.50 (update: now at $6.00).  I would like to get some of this, but not sure if it will work for my Retard Trader account.  Holding this long term might be worthwhile, it was a stock that at one time was trading in the $40 range just over a year and a half ago.  I think this is like DNDN, where there’s upside potential to it.

AAPL is down over $1.75 this morning pre-hours.  I like it!  Looks like the AAPL puts will pushing higher for me, hopefully to my expected sell level.  I might just take profits, as I’m more interested in having cash to put towards other areas.

FXP is up, as the Hang Seng was down and FXI is down.  That should make for a good exit for FXP for me today.  I could probably ride this one longer, but I have seen FXI climb over $15 in a single day on multiple occasions, and I don’t plan on watching it while I’m betting against it.

LEH came out with earnings.  Watch the stop drop $2, potentially, which should help bring the market downward.  The earnings were better than expected, but I think that the expectations were so low that being just a little better isn’t good enough.

MA will open lower and continue declining through the day.  Lindsey is brave than I am, I would duck and cover (well, I’m actually not that smart so I would likely just pray it went back to even).  Good luck Lindsey.

Today will be a day that works well for shorting and buying puts.  Will you be doing it?