Sunday, December 09, 2007

Weekly Outlook

Click here for the Wall St. Week Ahead by Reuters.

Click here for Stocks in Focus for Monday by MarketWatch.com.

There are a few economic reports of note and some significant corporate earnings reports scheduled for release this week.

Economic reports for the week include:

Mon. – Pending Home Sales

Tues. – Weekly retail sales reports, IBD/TIPP Economic Optimism, Wholesale Inventories, FOMC Rate Decision

Wed. – Weekly MBA Mortgage Applications report, weekly EIA energy inventory report, Trade Deficit, Import Price Index, Monthly Budget Deficit

Thur. – Initial Jobless Claims, Producer Price Index, Advance Retail Sales, Business Inventories

Fri. – Consumer Price Index, Industrial Production, Capacity Utilization

Some of the more noteworthy companies that release quarterly earnings this week are:

Mon. – Vail Resorts(MTN), H&R Block(HRB), FuelCell Energy(FCEL), Pall Corp.(PLL), John Wiley & Sons(JW/A), Quest Software(QSFT)

Tues. – Sharper Image(SHRP), Multimedia Games(MGAM), Cooper Cos(COO), Krogere(KR)

Wed. – Martek Biosciences(MATK), ADC Telecom(ADCT), CKE Restaurants(CKE)

Thur. – CostcoWholesale(COST), Quiksilver(ZQK), JOS A Bank(JOSB), Lehman Brothers(LEH)

Fri. – Tektronix(TEK), CSK Auto(CAO), Winnebago(WGO), Ciena Corp.(CIEN)

Other events that have market-moving potential this week include:

Mon. – BB&T Consumer Conference, (NVO) analyst meeting, (ITW) investor meeting, (PPG) investor day, (WTSLA) analyst meeting, (HIG) investor call, (AVT) analyst meeting

Tue. – CIBC Virtualization Conference, Goldman Sachs Financial Services Conference, Wedbush Morgan California Dreamin’ Conference, (ARM) analyst meeting, (HPQ) analyst meeting, (T) investor day, (VVC) analyst breakfast, (INWK) analyst meeting, (VTIV) analyst meeting, (GNW) strategic update, (MRK) business briefing, (GMR) analyst meeting, (WLP) investor conference, (A) analyst meeting, (VRGY) analyst meeting, (ALTR) analyst meeting, (GE) outlook meeting

Wed. – CIBC Virtualization Conference, Wedbush Morgan California Dreamin’ Conference, (BDC) investor day, (SUN) analyst meeting, (YUM) investors conference, (LII) analyst meeting, (MALL) analyst meeting, (DHR) analyst meeting, (VVC) analyst luncheon

Thur. – Thomas Weisel Telecom Tomorrow Conference, Merrill Lynch Growth Industrial Conference, RBC Healthcare Conference, (PBG) investor day, (AMD) analyst day, (SMG) analyst day, (ZGEN) analyst meeting, (JAV) analyst meeting, (UTX) analyst meeting

Fri. – Roth Capital Software Event, (ACAD) analyst meeting, (IDT) analyst meeting

BOTTOM LINE: I expect US stocks to finish the week mixed as a firmer dollar, lower energy prices, seasonal strength, less economic pessimism and short-covering offsets profit-taking and higher inflation readings. My trading indicators are giving mostly bullish signals and the Portfolio is 100% net long heading into the week.

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