Weekly Stock Trader Newsletter, Feb 19
The Week Ahead: News that consumer sentiment is at 16 year lows as we enter this holiday shortened week could weigh on stock prices. Overall profit growth in the 4th quarter declined sharply primarily because of financial companies. Watch housing sector stats with the NAHB housing index on Tuesday and housing starts on Wednesday. Also, the CPI and FOMC Minutes report will be released Wednesday. Finally, an important leading economic indicators number is due on Thursday.
Stocks to Watch: Food companies have been strong recently as stocks like Campbell's Soup (CPB) which beat earnings estimates and HJ Heinz (HNZ) gave a positive sales and earnings outlook for 08'. Clear Channel (CCU) beat earnings estimates and its stock vaulted up near the 50 day moving average. NetSuite (N ) which went public in December broke to a new low after showing a 4th Q loss when analysts expected a gain. Coal companies like Consol Energy (CNX) and Massey Energy (MEE) fell on a sector downgrade by Goldman Sachs.
Special Note: Since the low in January on the major stock indexes, the market continues its pattern of the rallies making lower highs despite three of the last four weeks finishing up. Another pattern seen so far on a monthly chart is after a severe sell off in November, the market paused in December then accelerated again in January to new lows before slowing again in February. Ultimately lower lows are likely either later this month or next as momentum builds to the downside. Traders and investors should position their holdings accordingly.
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: Food companies have been strong recently as stocks like Campbell's Soup (CPB) which beat earnings estimates and HJ Heinz (HNZ) gave a positive sales and earnings outlook for 08'. Clear Channel (CCU) beat earnings estimates and its stock vaulted up near the 50 day moving average. NetSuite (N ) which went public in December broke to a new low after showing a 4th Q loss when analysts expected a gain. Coal companies like Consol Energy (CNX) and Massey Energy (MEE) fell on a sector downgrade by Goldman Sachs.
Special Note: Since the low in January on the major stock indexes, the market continues its pattern of the rallies making lower highs despite three of the last four weeks finishing up. Another pattern seen so far on a monthly chart is after a severe sell off in November, the market paused in December then accelerated again in January to new lows before slowing again in February. Ultimately lower lows are likely either later this month or next as momentum builds to the downside. Traders and investors should position their holdings accordingly.
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
6:57 AM
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