Monday Watch

Earnings of Note
Company/Estimate
KDE/.29
ADRX/.33
CVC/-.40
CHTR/-.50
DOVP/-.51
PSUN/.23
WMS/.04

Splits
None of note.

Economic Data
Wholesale Inventories for June estimated +.6% versus +1.2% in May.

Weekend Recommendations
Forbes on Fox had guests that were positive on RL, LYO, VSEA, OVTI, AMD and negative on BRCM, XLNX, MU. Bulls and Bears had guests that were positive on DHI, SSL, JNJ, MER, LTD, SPLS, FFH, mixed on WMT, NOK and negative on MSFT, LTD. Cashin' In had guests that were positive on SU, BR, UHCO and WMT. Louis Rukeyser's Wall Street had guests that were positive on SGMS, AZR, GET, LEA and GM. Barron's had positive comments on TRB, GTW, BEN, DANKY and negative comments on GOSHA. Goldman Sachs reiterated Outperform on WFC, EBAY, TU, GDT, CMA, ASN and Underperform on UNM, PSA.

Weekend News
U.S. intelligence officials said Abu Issa al-Hindi, the al-Qaeda terrorist suspect in U.K. custody, visited the U.S. in early 2001 to conduct surveillance of possible targets at the direction of Osama bin Laden, the NY Times reported. Martha Stewart Living Omnimedia plans a show starting in January on public tv stations that stars feature chefs instead of Martha Stewart herself, the NY Times said. More than 4,200 U.S. families who say that mercury used in vaccines caused their children's ailments are suing drug companies for damages, the LA Times reported. U.S. health officials and pharmaceutical makers say there is no proof that small amounts of mercury caused the problems, Bloomberg reported. A consortium of Dubai-based investors is backing a $10 billion offer to avert bankruptcy of OAO Yukos Oil, Russia's biggest oil exporter, the Sunday Times reported. OPEC, which says it produces 28% of the world's oil requirements, exaggerates daily output by as much as 7.5%, helping to push fuel prices higher, the Business newspaper reported. A Pakistani man arrested last month was communicating with al-Qaeda terrorists who are said to be planning an attack to disrupt the U.S. elections, the NY Times said. Charter Communications and EchoStar Communications are considering going private, a move Cox Communications announced last week, the NY Times reported. Workers are now suing their employers more often than during the recession as lawyers find more creative ways to bring their grievances to court, Crain's New York Business reported. Almost half of all private businesses surveyed this year by Chubb Corp. said they expect one of their employees will sue or file a discrimination complaint, Bloomberg reported. China's inflation will probably slow in the second half as government lending curbs help cool the economy, Bloomberg reported. BellSouth reached a tentative five-year agreement last night with the Communications Workers of America on labor contracts for 45,000 employees in nine states, Bloomberg said. Dillard's agreed to sell its private credit-card unit to GE's consumer-finance division for about $1.25 billion.

Late-Night Trading
Asian indices are mixed, -.50% to +.75% on average.
S&P 500 indicated +.23%.
NASDAQ 100 indicated +.46%.

BOTTOM LINE: I expect U.S. stocks to open higher in the morning on declining oil prices and no domestic acts of terror over the weekend. The extreme rise in the Arms and Put/Call readings on Friday also bodes well for the very near-term. I added market exposure into Friday afternoon's carnage, leaving the Portfolio 50% net long. One of my new longs is FCEL and I am using a $7.70 stop-loss on the position.