On Tap For Mon Jan 29, 2007

The following are some of the NYSE stocks that I will be keeping an eye on and possibly trading tomorrow. Obviously there may be news on other stocks that come out overnight or in the morning, so I may be trading those stocks as well.

Before I get started, there are a couple of things I want to mention:

1. I finally got around to updating the site and I've added several other blogs to the "Links To Other Blogs" section. I've been meaning to update it for a long time now, so I'm glad I finally did it (and it took me longer than I expected).
2. For those of you who are unaware, the NYSE completed it's Phase III rollout last week Wednesday (Jan 24). This means that all stocks on the NYSE should now operate more electronically and fills should be much quicker on all stocks .
3. Phase IV of the Hybrid market began last week Thursday (Jan 25). The main thing us traders need to be concerned with is the introduction of two new order types (the other changes are mainly for floor brokers and for the specialist). For more info, please check out the Hybrid market blog at Hybrid Talk.
4. In my "On Tap" posts, I will start identifying stocks that are part of the SHO Pilot program with a "*" beside them and by highlighting them in green. This will mean that the stocks marked with a "*" (and highlighted green) can be shorted on a downtick as they are part of the SHO Pilot program run by the NYSE. For more info on the SHO Pilot program, check out the NYSE website and their Regulation SHO Pilot Lists.

OK - let's get down to business! I'm ready to tackle a full week of trading, so let's get things on the right foot tomorrow!

• There are several companies reporting before the open tomorrow - the following is a list of companies I'll be watching: Cummins Inc. (CMI), Mattel Inc. (MAT), Tyson Foods Inc. (TSN), Verizon Communications Inc. (VZ), Phelps Dodge Corporation (PD)*, Schering-Plough Corporation (SGP)
• Countrywide Financial Corporation (CFC)* popped up on Friday after it announced it was in talks with Bank of America (BAC) on a possible merger; CFC is the #1 mortgage lender in America while BAC is the #2 bank in America; CFC closed at $42.00 on Friday
• I'm also going to keep an eye on the following stocks that reported earnings and made significant moves on Friday: MEMC Electronic Materials Inc. (WFR)*, The Stanley Works (SWK)*, NBTY Inc. (NTY)*, and Chemtura Corporation (CEM)*
  

Please note that those stocks denoted with a * and highlighted green indicate that they are on the SHO Pilot List which means you can short them on a downtick.