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There is another fairly unusual list of active trader and day trader alerts out there this morning.  We are seeing news and moves in Citigroup, Inc. (NYSE: C), DragonWave Inc. (NASDAQ: DRWI), Energy Conversion Devices, Inc. (NASDAQ: ENER), Limited Brands, Inc. (NYSE: LTD), Madison Square Garden, Inc. (NYSE: MSG), Nanometrics Incorporated (NASDAQ: NANO), Skilled Healthcare Group, Inc. (NYSE: SKH), and Tesla Motors, Inc. (NASDAQ: TSLA).  We also have data on Freddie Mac and Fannie Mae.  News and the move is provided on each, along with some trader color where applicable.

Citigroup, Inc. (NYSE: C) is trading up 0.5% at $3.92 on active trading volume.  The company reportedly sold off some of its private equity group for $900 million.  Citi’s price move  was muted compared to many of the banks yesterday, part of which may be due to the ongoing overhang of Uncle Sam selling shares.

DragonWave Inc. (NASDAQ: DRWI) is leading the loser-board this morning.  The company said its quarterly revenue rose 275% to $48.7 million, but its guidance now expects revenue for Q2 FY 2011 to be about $25 million.  Shares are down 16% at $4.70, far worse than the 10% to 12% drop last night.

Energy Conversion Devices, Inc. (NASDAQ: ENER) is surging this morning by 8% at $4.58, but on thin trading volume.  An active message board discusses strategic alternatives, but that is just chatter and not news from the company so far.

Limited Brands, Inc. (NYSE: LTD) is up big after posting June same-store sales gains of 6%,  twice the gain that was expected during a soft month.  The problem is that volume is very thin, so this could be grossly different by the time the market opens up.  Shares are trading up about 7.5% at $25.46 on very thin trading volume.

Madison Square Garden, Inc. (NYSE: MSG) is playing a give-back game this morning after yesterday’s speculative trading that LeBron James might go to the New York Knicks.  There was highly unusual options trading. In early trading, MSG is down 3.6% at $20.79.

Nanometrics Incorporated (NASDAQ: NANO) is looking painful this morning after Oppenheimer cut the shares to Perform with a $10 price target.  Shares are down 13% at $9.46 after a $10.86 close yesterday.

Skilled Healthcare Group, Inc. (NYSE: SKH) is trying to bounce a bit, but this may just be the proverbial dead cat bounce after yesterday’s implosion.  The stock was downgraded to Hold at Jefferies and was also cut late yesterday at JMP Securities and at Credit Suisse after the stock imploded.  Shares are up 2% at $1.55 but the pre-8AM trading showed indications up over 5%.

Tesla Motors, Inc. (NASDAQ: TSLA) is trying to pose a bounce this morning but this is still a busted IPO for all practical purposes.  Shares closed at $15.80 and the stock is up almost 3% at $16.25 on about 25,000 shares in early pre-market trading.

Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) are gone from the NYSE.  Fannie is now OTC-BB “FNMA” and Freddie Mac is now OTC-BB “FMCC” on the over the counter markets.  Here is a list of their full ticker list for all the preferred shares as well.

JON C. OGG