After a huge rally on friday, it is not surprising to wake up to red futures. Earnings seasons starts to kick into full gear this week, and should bring some excitement to some rather dull weeks.

Some interesting news this morning on a stock i have followed for years PRX with a buyout offer of $50. Have to find a post i made about that one, but always though it was undervalued. Good thing about the deal, is they can pursue a better offer until Aug 25th, meaning someone may come and sweeten the deal.  Good idea would have been buying some leap calls.

Anyway onto the watch list:

WYNN – reports AHs tomorrow. The stock has taken a beaten on weakening vegas numbers as well as possible issues abroad. I have a feeling she beats nicely after last Qs hiccup. Will look for some $110/$115 strikes for the ramp. If she misses, stock will see $80-85, so could be a nice play either way.

LNKD – Bollie are tight on the chart, and i think the stock is ready to finally break and hold $110. Thought the test would happen friday, but i was wrong. Think it happens today or tomorrow. Will look for $115 calls sometime today : http://stockcharts.com/c-sc/sc?s=LNKD&p=D&b=9&g=0&i=p71833622492&a=255600933&r=1342443536796

CMG – think the story is not over with this one, at least not yet. I actually like BWLD as the next growth story, but think CMG has one or two last laughs in her. Earnings not till Thursday AH’s, but will look for some calls for a premium build and hopefully sell them before the close thursday. Will post more in chat,  but may go for the $430 calls @ $1 and hopefully feel for 50%+ the week.

Many other stocks on watch this week for potential plays: GS, BLK, YHOO, EBAY, GOOG …

Will have an earnings central post late tonight with strikes and opinions on some of the earning plays!