Weekly Stock Trader Newsletter, November 30
The Week Ahead: The Dubai World postponement of interest payments is a reminder of the still unfolding credit crisis taking shape world wide. Discounters expected to have best sales numbers this Christmas. Auto sales are released Tuesday. The Federal Reserves Beige Book comes out on Wednesday. The third quarter productivity and cost figures are due Thursday. The employment report for November will be released Friday morning.
Stocks to Watch: Amidst the myriad of selling done on Friday after the Dubai announcement, it is interesting to note a few winners: W Holding Company (WHI), a Puerto Rican bank, China Nep Chain Drugstore (NPD), and Sturm Ruger & CO. (RGR), a firearms maker. India regulators estimate larger than expected fraud as much as $2.5 billion at Satyam Computer Services (SAY). Oil and gold stocks were some of the weakest groups on Friday, but Alcoa (AA), American Express (AXP), Caterpillar (CAT), and Travelers (TRV) were the weakest DOW stocks.
Special Note: Most of the damage from the Dubai World debt situation occurred in the Asian markets many of which were already well off their peaks from August and September. U.S. markets are due for a pull back with the Dow Industrials up 5 months in a row. Perhaps this serves as a catalyst for such a development. Also the Dow Industrials was the only Index to reach a new high for 2009 last week. Similarly gold is the only commodity making all time highs. Broad support for a sustained uptrend from here is lacking.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
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Stocks to Watch: Amidst the myriad of selling done on Friday after the Dubai announcement, it is interesting to note a few winners: W Holding Company (WHI), a Puerto Rican bank, China Nep Chain Drugstore (NPD), and Sturm Ruger & CO. (RGR), a firearms maker. India regulators estimate larger than expected fraud as much as $2.5 billion at Satyam Computer Services (SAY). Oil and gold stocks were some of the weakest groups on Friday, but Alcoa (AA), American Express (AXP), Caterpillar (CAT), and Travelers (TRV) were the weakest DOW stocks.
Special Note: Most of the damage from the Dubai World debt situation occurred in the Asian markets many of which were already well off their peaks from August and September. U.S. markets are due for a pull back with the Dow Industrials up 5 months in a row. Perhaps this serves as a catalyst for such a development. Also the Dow Industrials was the only Index to reach a new high for 2009 last week. Similarly gold is the only commodity making all time highs. Broad support for a sustained uptrend from here is lacking.
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
10:04 AM
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