There are a few important economic reports and a number of significant corporate earnings reports scheduled for release this week. Economic reports this week include the NAHB Housing Market Index, Housing Starts, Building Permits, Initial Jobless Claims and Leading Indicators. Housing Starts and Leading Indicators both have market-moving potential.
3M(MMM), Delta Air(DAL), Lexmark(LXK), Corning(GLW), Phillip Morris(MO), EMC Corp.(EMC), Ford Motor(F), Forest Labs(FRX), Taser(TASR), Motorola(MOT), Texas Instruments(TXN), D.R. Horton(DHI), Fannie Mae(FNM), General Dynamics(GD), General Motors(GM), Harrah's Entertainment(HET), ImClone(IMCL), Schlumberger(SLB), Microsoft(MSFT), United Parcel Service(UPS), Amazon(AMZN), Broadcom(BRCM), Office Depot(ODP), International Game Technology(IGT), Nextel Communications(NXTL), SAP AG(SAP) and Qualcomm(QCOM) are some of the more important companies that release quarterly earnings this week. There are also a few other events that have market-moving potential. The SEMI Book-to-Bill report, Strategic Research Institute Energy Technology Conference and Greenspan's congressional testimony could also impact trading this week.
Bottom Line: I expect U.S. stocks to rise modestly this week on a bounce in technology stocks from oversold levels, Greenspan's comments, better earnings reports, falling interest rates and a decline in oil. My short-term trading indicators are giving sell signals and the Portfolio is 25% net short heading into the week.
No comments:
Post a Comment