Free Stock Investment Newsletter June 04
The Week Ahead: Employment numbers came in on the high end of the expected range in May but will require multiple high monthly readings to engage the fed in raising rates. Education, healthcare, and leisure industries led the way, but manufacturing was down. April factory orders come out on Monday, while 1st quarter productivity and costs are due on Wednesday. Also watch the oil and gasoline inventory numbers. Thursday brings the jobless claims and April wholesale trade figures, and Friday the April international trade numbers.
Stocks to Watch: J. Crew Group (JCG) moved up out of a long consolidation area on strong volume after beating estimates in their 1st quarter. Brinker International (EAT) the big restaurant chain boosted its stock buyback by $300 million and the stock rebounded off a recent low. Esterline Technologies (ESL) had strong 2nd quarter numbers as its stock surged on Friday. Finally, Hovnanian Enterprises (HOV) revenues dropped 29% and earnings fell to .49 loss versus a 1.60 profit as the housing slump gains traction.
Special Note: The Dow Utilities Index has recently rolled over significantly and often acts as a barometer for the direction of the Dow Industrials and Dow Transportation averages. With the Dow Jones approaching the 14,000 barrier combined with record margin debt, extreme caution should be used for stock purchases. Also, with the huge bubble taking hold in the Shanghai Index in China, inevitably a spill over here in the US markets from a major sell-off will impact stock prices sharply as they did in February. Hedge stock positions where possible.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
To view all of NobleTrading's historical newsletters, click here.
Click here to open an account.
NobleTrading Direct Access Trading
email: info@nobletrading.com
phone: 877.872.3311
web: http://www.nobletrading.com
Stocks to Watch: J. Crew Group (JCG) moved up out of a long consolidation area on strong volume after beating estimates in their 1st quarter. Brinker International (EAT) the big restaurant chain boosted its stock buyback by $300 million and the stock rebounded off a recent low. Esterline Technologies (ESL) had strong 2nd quarter numbers as its stock surged on Friday. Finally, Hovnanian Enterprises (HOV) revenues dropped 29% and earnings fell to .49 loss versus a 1.60 profit as the housing slump gains traction.
Special Note: The Dow Utilities Index has recently rolled over significantly and often acts as a barometer for the direction of the Dow Industrials and Dow Transportation averages. With the Dow Jones approaching the 14,000 barrier combined with record margin debt, extreme caution should be used for stock purchases. Also, with the huge bubble taking hold in the Shanghai Index in China, inevitably a spill over here in the US markets from a major sell-off will impact stock prices sharply as they did in February. Hedge stock positions where possible.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
To view all of NobleTrading's historical newsletters, click here.
Click here to open an account.
NobleTrading Direct Access Trading
email: info@nobletrading.com
phone: 877.872.3311
web: http://www.nobletrading.com
posted by NobleTrading at
2:57 AM
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