Sunday, December 11, 2005

Weekly Outlook

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

Economic reports for the week include:

Mon. - Monthly Budget Statement
Tues. - Advance Retail Sales, Business Inventories, FOMC Rate Decision
Wed. - Trade Balance, Import Price Index
Thur. - Initial Jobless Claims, Consumer Price Index, Empire Manufacturing, Net Foreign Security Purchases, Industrial Production, Philly Fed
Fri. - Current Account Balance

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

Mon. - Jacuzzi Brands(JJZ), Telephone & Data Systems(TDS), US Cellular(USM)
Tues. - ADC Telecom(ADCT), CKE Restaurants(CKR), Cooper Companies(COO), Engineered Support(EASI), Lehman Brothers(LEH), Martek Biosciences(MATK)
Wed. - Freddie Mac(FRE), Mercury Interactive(MERQE)
Thur. - Apollo Group(APOL), Bear Stearns(BSC), Best Buy(BBY), Darden Restaurants(DRI), Goldman Sachs(GS), Herman Miller(MLHR), KB Home(KBH), Lennar Corp.(LEN), Oracle Corp.(ORCL), Pier 1 Imports(PIR), Rite Aid(RAD)
Fri. - Carnival Corp.(CCL), Cintas Corp.(CTAS), Family Dollar(FDO), GTECH Holdings(GTK), Quiksilver Inc.(ZQK), Steelcase(SCS), Take-Two Interactive(TTWO)

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

Mon. - UBS Server Technologies Conference
Tue. - None of note
Wed. - None of note
Thur. - RBC Silver Conference
Fri. - RBC Silver Conference

BOTTOM LINE: I expect US stocks to finish the week higher on increasing demand for US assets, less hawkish Fed comments, short-covering, moderating inflation fears and increasing inflows. My trading indicators are still giving bullish signals and the Portfolio is 100% net long heading into the week.

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