Weekly Stock Trader Newsletter, December 7, 2009
The Week Ahead: Despite 11,000 job losses in November, the unemployment rate dropped to 10% due to positive revisions to October and discouraged workers giving up the search for work. The market cheered but then realized the lagging nature of this indicator and promptly sold off. Another laggard the factory orders rose an unexpected .6% in October. Watch consumer credit figures on Monday and wholesale trade numbers on Wednesday. The weekly jobless claims on Thursday will be important as well retail sales, import prices, and business inventories on Friday.
Stocks to Watch: The long term growth potential for McGraw Hill Companies (MHP) could be 10% per year according to Merrill Lynch/BofA as they issue a buy recco. Gold stocks such as Gold Fields Ltd. (GFI) and Coeur D'alene Mines (CDE) were hit hard on a $48 drop in gold from its parabolic price rise. Reynolds American (RAI) has an improved outlook for gaining market share according to Citigroup who upgraded it to a buy. Marvell Technology (MRVL) handily beat earnings estimates for Q3 while Take-Two Intera Software (TTWO) sees lower numbers than anticipated for Q4 and a loss for Q1.
Special Note: Seasonal strength into year end may hold stocks elevated but the temptation to lock gains in from the March lows will have influence too for many investors. Volatility could be more than normal this month because of the these two forces. A couple noteworthy technical indicators shows 10-day NYSE volume the lowest since the March lows despite the huge run-up in all indexes, and advisors are more bullish now than they were at the all-time high of October '07 with only 16.7% bears.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
Check out NobleTrading's new earnings calendar, upgrades and downgrades, and analyst coverages.
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Stocks to Watch: The long term growth potential for McGraw Hill Companies (MHP) could be 10% per year according to Merrill Lynch/BofA as they issue a buy recco. Gold stocks such as Gold Fields Ltd. (GFI) and Coeur D'alene Mines (CDE) were hit hard on a $48 drop in gold from its parabolic price rise. Reynolds American (RAI) has an improved outlook for gaining market share according to Citigroup who upgraded it to a buy. Marvell Technology (MRVL) handily beat earnings estimates for Q3 while Take-Two Intera Software (TTWO) sees lower numbers than anticipated for Q4 and a loss for Q1.
Special Note: Seasonal strength into year end may hold stocks elevated but the temptation to lock gains in from the March lows will have influence too for many investors. Volatility could be more than normal this month because of the these two forces. A couple noteworthy technical indicators shows 10-day NYSE volume the lowest since the March lows despite the huge run-up in all indexes, and advisors are more bullish now than they were at the all-time high of October '07 with only 16.7% bears.
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
9:37 AM
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