Weekly Outlook

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

Economic reports for the week include:

Mon. – Challenger Job Cuts, Factory Orders

Tues. – ISM Non-Manufacturing, weekly retail sales

Wed. – Weekly EIA energy inventory data, weekly MBA Mortgage Applications report, 4Q Non-farm Productivity, 4Q Unit Labor Costs

Thur. – Initial Jobless Claims, Pending Home Sales, ICSC Chain Store Sales, Consumer Credit

Fri. – Wholesale Inventories

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

Mon. – Humana Inc.(HUM), Wendy’s Intl.(WEN), Archer-Daniels-Midland(ADM), News Corp.(NWS/A), Rambus Inc.(RMBS), Computer Sciences(CSC), Standard –Pacific(SPF), Post Properties(PPS), Equifax(EFX), Las Vegas Sands(LVS), Yum! Brands(YUM), Synchronoss Tech(SNCR), SiRF Tech(SIRF), Anadarko Petroleum(APC), Sohu.com(SOHU), Illumina(ILMN), Thornburg Mortgage(TMA), Clorox(CLX), AES Corp.(AES)

Tues. – NYSE Euronext(NYX), Tyco Intl.(TYC), CME Group(CME), Louisiana-Pacific(LPX), Boston Scientific(BSX), Whirlpool(WHR), Duke Energy(DUK), Walt Disney(DIS), THQ Inc.(THQI), CB Richard Ellis(CBG), Nabors Industries(NBR), Infospace(INSP), Riverbed Tech(RVBD), Cheesecake Factory(CAKE), Annaly Capital(NLY), Avon Products(AVP), Nuance Communications(NUAN), Emerson Electric(EMR), JDS Uniphase(JDSU)

Wed. – IAC/InterActiveCorp(IACI), Time Warner(TWX), Biogen Idec(BIIB), Cigna Corp.(CI), ITT Corp.(ITT), Polo Ralph Lauren(RL), Sara Lee(LEE), WMS Industries(WMS), Cisco Systems(CSCO), Alcon Inc.(ACL), Electronic Data(EDS), Akamai Technologies(AKAM)

Thur. – Expedia Inc.(EXPE), International Paper(IP), Gartner Inc.(IT), DR Horton(DHI), Energy Conversion(ENER), Diamond Offshore(DO), Aetna Inc.(AET), PepsiCo(PEP), Apache Corp.(APA), McAfee Inc.(MFE), BMC Software(BMC), AGCO Corp.(AG), Pitney Bowes(PBI), Omniture Inc.(OMTR), Corrections Corp.(CXW), Sina Corp.(SINA), Express Scripts(ESRX), Weyerhaeuser(WY)

Fri. – Southern Copper(PCU), Tribune(TRB)

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

Mon. – Fed’s Kroszner speaking, (JAVA) analyst meeting, (MSFT) strategic update, Thomas Weisel Tech/Telecom/Internet Conference, CSFB Energy Conference

Tue. – Fed’s Lacker speaking, (UAUA) analyst meeting, (STT) analyst meeting, (JAVA) analyst meeting, CSFB Energy Conference, Cowen Aerospace/Defense Conference, Thomas Weisel Tech/Telecom/Internet Conference, Merrill Global Pharma/Biotech/Medical Device Conference

Wed. – Fed’s Lacker speaking, Fed’s Plosser speaking, (CTXS) analyst day, (AXP) financial community meeting, (JAVA) analyst meeting, Merrill Global Pharma/Biotech/Medical Device Conference, CSFB Energy Conference, CSFB Financial Services Forum, Thomas Weisel Tech/Telecom/Internet Conference

Thur. – Fed’s Lockhart speaking, Fed’s Fisher speaking, Fed’s Yellen speaking, (ELY) analyst meeting, (PETD) analyst meeting, Thomas Weisel Tech/Telecom/Interest Conference, CSFB Energy Conference, CSFB Financial Services Forum, Merrill Global Pharma/Biotech/Medical Device Conference

Fri. – (STJ) analyst meeting, (SRVY) investors meeting, (GLW) investor meeting, CSFB Energy Conference

BOTTOM LINE: I expect US stocks to finish the week mixed as a firmer US dollar, mostly positive earnings reports, tech sector strength, lower energy prices, less economic pessimism and constructive Fed commentary offset profit-taking and shorting. My trading indicators are giving mostly bullish signals and the Portfolio is 100% net long heading into the week.