Sunday, November 23, 2008

Weekly Outlook

Click here for a weekly market preview by MarketWatch.

Click here for stocks in focus for Monday by MarketWatch.

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

Economic reports for the week include:

Mon. – Existing Home Sales

Tues. – Weekly retail sales reports, Preliminary 3Q GDP, Preliminary 3Q Personal Consumption, Preliminary GDP Price Index, Preliminary 3Q Core PCE, S&P/CaseShiller Home Price Index, Consumer Confidence, Richmond Fed Manufacturing Index, House Price Index

Wed. – Weekly MBA mortgage applications report, weekly EIA energy inventory data, Durable Goods Orders, Personal Income, Personal Spending, PCE Core, Initial Jobless Claims, Chicago Purchasing Manager, Univ. of Mich. Consumer Confidence, New Home Sales

Thur. US Markets Closed

Fri. – NAPM-Milwaukee

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

Mon. – CBRL Group(CBRL), Campbell Soup(CPB), Analog Devices(ADI), Nuance Communications(NUAN), Hewlett-Packard(HPQ)

Tues. Tech Data Corp.(TECD), Chico’s FAS(CHS), Hormel Foods(HRL), Zale Corp.(ZLC), DR Horton(DHI), Eaton Vance(EV), Borders Group(BGP), Talbots(TLB), Dollar Tree(DLTR), American Eagle(AEO), Genesco(GCO), J Crew Group(JCG)

Wed. – Fred’s Inc.(FRED), Tiffany & Co.(TIF), Deere & Co.(DE)

Thur. US Markets Closed

Fri. – PEP Boys-Manny Moe & Jack(PBY)

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

Mon. – (KMT) analyst meeting

Tue. – (JEC) presentation to financial analysts

Wed. – None of note

Thur. US Markets Closed

Fri. – CSFB Infrastructure Conference

BOTTOM LINE: I expect US stocks to finish the week higher on seasonal strength, bargain-hunting, technical buying, diminishing financial sector pessimism, less forced selling and short-covering. My trading indicators are giving mostly bullish signals and the Portfolio is 100% net long heading into the week.

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