Stock Trader Newsletter, November 09, 2009
The Week Ahead: Double digit unemployment at 10.2% wasn't enough to stop stocks from rising after a previous week sell-off, but with the real unemployment rate or U-6 climbing to 17.5% can November's up start for stocks continue? More employment news comes out Monday via the Employment Trends Index for October. News flow slows ahead of Veteran's Day on Wednesday when the bond market will be closed. Then jobless claims figures arrive on Thursday and import prices on Friday.
Stocks to Watch: Sunoco Inc. (SUN) showed a Q3 loss versus a large profit a year ago because of weak demand for its fuel and chemicals with no sign of improvement in the refining market until 2010. Rosetta Stone (RST) sank to new lows after a Q4 profit drop of 12% as consumers spending on their language products suffers because of the recession. FreightCar America (RAIL) has not seen any recovery in the economy as they had no net orders for rail cars in Q3 compared to 2300 a year ago and profits dropped significantly. Insurance giant, The Travelers Company (TRV,) earned a high grade from Goldman Sachs and was upgraded to buy.
Special Note: The Dow Industrials and S&P 500 could still be poised for new highs this year as they have held their October lows, but other major indexes like the Russell 2000, Dow Transports, Dow Utilities, S&P 600 Small Caps, and the Nasdaq Composite have broken through their respective October lows. This sets up a possible inter-market bearish divergence of significance if the ladder indexes fail to achieve new high as well. Something investors should be aware of given the quick start this month and the 8 month rally in stocks.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
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Stocks to Watch: Sunoco Inc. (SUN) showed a Q3 loss versus a large profit a year ago because of weak demand for its fuel and chemicals with no sign of improvement in the refining market until 2010. Rosetta Stone (RST) sank to new lows after a Q4 profit drop of 12% as consumers spending on their language products suffers because of the recession. FreightCar America (RAIL) has not seen any recovery in the economy as they had no net orders for rail cars in Q3 compared to 2300 a year ago and profits dropped significantly. Insurance giant, The Travelers Company (TRV,) earned a high grade from Goldman Sachs and was upgraded to buy.
Special Note: The Dow Industrials and S&P 500 could still be poised for new highs this year as they have held their October lows, but other major indexes like the Russell 2000, Dow Transports, Dow Utilities, S&P 600 Small Caps, and the Nasdaq Composite have broken through their respective October lows. This sets up a possible inter-market bearish divergence of significance if the ladder indexes fail to achieve new high as well. Something investors should be aware of given the quick start this month and the 8 month rally in stocks.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
Check out NobleTrading's new earnings calendar, upgrades and downgrades, and analyst coverages.
Click Here To Open An Account
NobleTrading Direct Access Trading
NobleTrading.com Offers Online Stock Trading, Online Options Trading
Online Futures Trading, Online Forex Trading
Worldwide Brokerage Service, Day Trading Brokerage
posted by NobleTrading at
9:32 AM
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