Good Morning Todays Trade

Thursday, May 22, 2008

Stock futures continue to indicate a relatively flat start. Initial jobless claims for the week ending May 17 totaled 365,000, which is below the 373,000 economists projected. Swiss banking giant UBS (UBS) announced plans to raise some $15 billion in capital through a rights issue to existing shareholders. The issue comes at a discount of approximately 30% to yesterday's closing price. In mergers & acquisition news, NRG Energy (NRG) is offering to acquire Calpine (CPN) in an all-stock merger of the two utilities.

Due to technicals and market break down yesterday, i will be looking for a continued move down , with a chance of bounce this morning to 1400 Market will look better if we can get back above 1412-1413 area

My watch list for today

DUG
XIDE
GOOG

Looking for entries in
C
JBLU