US EQUITIES

DOWNSIDE ALERTS (login here for Real Time Alerts)

(-) GM(-8%) Credit Suisse downgrades stock to Underperform from Neutral.

Trading Analysis-

The stock touched a brief pre-market low of 4.08 before climbing through the 4.14 mark to a session high of 4.30 on moderate upside liquidity. The 4.24 to 4.30 area has developed as a near-term ceiling late in the pre-market, pushing back several upside tests – an area for shorts to watch. Sell momentum is picking up below this area as the opening bell approaches .

Historical Insight-

The historical performance data on GM suggests a strong tendency for the stock to head deeper in the same direction in the regular session following an analyst-driven pre-market move. MidnightTrader has tracked 16 analyst rating changes on GM over the last two years. The stock has recorded more aggressive follow-on regular session trade 10 times, narrowed four times and reversed course twice.

(-) WAG (-7.5%) meets Q1 expectations, slowing store openings.

Trading Analysis-

The stock is recently touching a pre-market low of 24.11 on increasing downside pressure. A top developed at mid-session in WAG at the 25 to 24.89 mark – an area for traders to watch for potential short plays as it withstood a few upside runs.

UPSIDE ALERTS (login here for Real Time Alerts)

(+) HUN (+8%) gets $325 Mln payment from Hexion.

Trading Analysis-

The stock is generating upside momentum from its pre-market low of 3.71 to 3.85. This looks to have potential as a floor, but thus far there is some difficulty breaking through the 3.80 mark.

(+) NVD (+180%) receives FDA approval for Zolpimist

Trading Analysis

The stock has trimmed to a plus-side range of 0.74 to 0.92 through the latter part of the pre-market, off its early morning high of 1.24. Morning longs may want to watch the 0.70 to 0.80 area to see if this level holds as a floor. It hasn’t seen much of a test at this tentative floor.

ETF RECAP

Active-volume exchange-traded funds in Friday's regular session:

SPDR S&P 500 (SPY): -0.4%

iShares S&P 500 (IVV): -1.1%

PowerShares QQQ (QQQQ): +0.8%

Select Financial Sector SPDRS (XLF): -1.7%

iShares Russell 2000 (IWM): +0.5%

iShares Russell 1000 Growth (IWF): -0.4%

iShares MSCI Emerging Markets Index (EEM): +0.4%

SPDR Gold (GLD): -1.5%

United States Oil Fund (USO): +1%

Most active extended-hours movers:

SPY, +0.4%

QQQQ, -0.2%

DXO, +4%

USO, -0.7%

UYG, +0.7%

ETF Power Play

Solar-linked ETFs are expected to remain volatile in coming weeks as oil prices fluctuate and as the Obama administration details infrastructure plans and energy/environmental policies.

Last week, upbeat analyst calls helped the cateogory. The Market Vectors Solar Energy fund (KWT) closed with a nearly 11% gain Friday.

Another "green" ETF has come on line. XShares last week announced the trading of the AirShares EU Carbon Allowances fund on NYSE/Arca. This ETF provides exposure to the fast-growing carbon market by holding positions in certain European Union futures contracts.