This Month in Stocks: 12/1 - 12/28/07

[350zCommTech]

I agree, it feels like a set up. The patterns on these declines for the S&P have been no more than one up day and that up day was yesterday.

Missing by over $3 is huge. Traders will soon start to think about the Bear Stern's report tomorrow morning.

 

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POP goes the weasel.

Bear Stearn -6.90 actual, expected was -1.79 to -1.68

Stand by for a volital day. Will the Plung Protection Team (PPT) step in and save the day?

 

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Reuters
Bear Stearns posts $854 million quarterly loss
Thursday December 20, 8:15 am ET
NEW YORK (Reuters) - Bear Stearns Cos Inc (NYSE:BSC - News) on Thursday reported its first quarterly loss in the company's history, capping a fiscal year when the fifth-largest U.S. investment bank took a beating on bad bets on risky subprime mortgages.
Bear Stearns reported a net loss of $854 million, or $6.90 a share, for the quarter ended November 30. That compared with a year-ago profit of $563 million, or $4 a share. (Reporting by Tim McLaughlin, editing by Dave Zimmerman)

 

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Walgreens and RIM all good. Gap filled from Friday to Monday but we have the old gap that needs filled. Santa Rally is on the way but after that look out.

 

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The Week Ahead

Last Update: 21-Dec-07 10:30 ET

With Santa Claus coming to town in the coming week, plenty of participants are expected to remain snug in their beds versus their usual post of being snug at their trading desks.

Accordingly, the coming week is light on scheduled events as the business of Wall Street will take a backseat to the business of Main Street.

As the breakdown below shows, there is very little on the docket in terms of scheduled events. That being the case, volume should be on the light side, which lends itself to added volatility.

It's worth noting, too, that Monday marks the start of what has been labeled the Santa Claus Rally period. It has been observed by the Stock Trader's Almanac that the period covering the last five trading days of a year and the first two trading days of the new year often produces a respectable rally.

This short period has been good for an average gain of 1.5% since 1950. The Almanac also reminds readers that "Santa's failure to show tends to precede bear markets, or times stocks could be purchased later in the year at much lower prices."

The only companies to confirm earnings announcements next week include Christopher & Banks (CBK), Verifone (PAY), and Mesa Air (MESA).

The Economic Calendar, meanwhile, brings only a handful of releases, too, that will include November Durable Orders, weekly Initial Claims, December Consumer Confidence, and November New Home Sales. The weekly crude oil inventory report will be pushed back to Thursday (from Wednesday) on account of the holiday on Tuesday while the natural gas storage report gets pushed back to Friday (from Thursday).
Have a great holiday!
________________________________________________________________
Monday, December 24:

• Earnings:No companies are currently scheduled to announce at this time
• Economic Data: None
• Events: Early close at 1:00 PM ET
• Conferences: No conferences are scheduled at this time
• Fed Speakers: None

Tuesday, December 25: Market Closed

Wednesday, December 26:

• Earnings: No companies are currently scheduled to announce at this time
• Economic Data: None
• Events: None
• Conferences: No conferences are scheduled at this time
• Fed Speakers: None

Thursday, December 27:

• Earnings:Christopher & Banks (CBK), Verifone (PAY)
• Economic Data: November Durable Goods Orders, Initial Jobless Claims (week ending Dec. 22), December Consumer Confidence
• Events: Weekly Crude Inventory Supplies (week ending Dec. 21)
• Conferences: No conferences are scheduled at this time
• Fed Speakers: None

Friday, December 28:

• Earnings: Mesa Air (MESA)
• Economic Data: November New Home Sales
• Events: Natural Gas Storage report
• Conferences: No conferences are scheduled at this time
• Fed Speakers: None

--Jeffrey Ham, Briefing.com

http://www.briefing.com/Investor/Public/MarketSnapshot/LookingAhead.htm

 

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Not

 

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Not such a merry Christmas for Target.


AP
Target Says Dec. Sales May Decline
Tuesday December 25, 2:59 pm ET
By Ellen Simon, AP Business Writer No. 2 Retailer Target Says Dec. Sales May Decline; Total Holiday Sales Show Modest Increase

NEW YORK (AP) -- Early holiday sales reports are weak, with Target Corp., the nation's No.2 retailer, warning that its sales may have fallen in December. A broad gauge of consumer spending released by MasterCard Inc., which includes estimates for spending by cash and checks, showed a modest 2.4 percent increase in holiday spending, excluding gasoline and auto sales.

http://biz.yahoo.com/ap/071225/holiday_shopping.html

 

[hessian]

I gotta good feeling about tomorrow, 12/26 will show some ups in after Christmas sales..even though some may think it is only a return of Christmas presents event, I think most will be buying and using all those gift certificates they got on the big sales...

Hey Dennis, I got to agree, and hope we see it too, but we do have some technicals/obstacles that now I think we're facing.
The C broke its iron cross, but next comes its "trend line" - there is some room to move up to that, but it will likely get there real soon, and question is, will it break above? -into new/virgin territorry? -Just might, we'll see!
Also, the S is sittin' in a tight spot - right between it 200 and 50 EMAs - interesting! A best guess is, that I think S will "bust on thru" (to upside tomorrow), but again -it will be interesting! I think alot of what happens, with these, (C & S), may be a large determinate of subsequent days (including even perhaps what happens with the I). Love to hear any experienced folks opinions/speculations on this! :cheesy:
VR

 

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AP
Stock Futures Edge Lower
Wednesday December 26, 8:16 am ET
By Lauren Villagran, AP Business Writer US Stock Futures Indcate Flat to Lower Opening on Wall Street Amid Weaker Holiday Sales

NEW YORK (AP) -- U.S. stock futures slipped Wednesday as investors returned from the holiday to news of weaker than expected retail sales.

The International Council of Shopping Centers said its index of retail chain store sales rose 2.8 percent last week, rounding out a sluggish December performance that puts retailers on track for a smaller sales gain than the trade group originally expected. Still, there is some hope sales will rebound as shoppers start spending with holiday gift cards.

Other reports released Christmas Day were disappointing. Target Corp. indicated its sales may have fallen in December. The nation's No. 2 retailer scaled back sales projections, saying same-store sales for the five weeks through Jan. 5 would range from a 1 percent increase to a 1 percent decrease versus earlier expectations for a gain of between 3 percent and 5 percent.

MasterCard Inc. said holiday spending -- including credit, cash and checks -- climbed a modest 2.4 percent between Thanksgiving and Christmas, weighed by a slowdown in sales of women's apparel. That compares with a rise of 6.6 percent over the same period last year.

The news could raise concerns about the strength of consumer spending and in turn the economy. However, it was widely expected that holiday sales would be slow.

http://biz.yahoo.com/ap/071226/wall_street.html

 

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IMO on the S Fund is that it is getting overbought. Five up days in a row and 6 or 7 are the high end for S Fund runs. Seasonality is showing itself but picking the right day to jump in will be to difficult.

 

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http://biz.yahoo.com/ap/071227/citigroup_writedowns.html


AP
Citi May Write Down $18.7B, Analysts Say
Thursday December 27, 3:39 pm ET
By Madlen Read, AP Business Writer Citi May Write Down $18.7B, Goldman Analysts Say, Which Could Force Bank to Slash Dividend

NEW YORK (AP) -- When Citigroup warned in early November that it was likely to write down its portfolio by $8 billion to $11 billion in the fourth quarter because of exposure to bad loans, investors recoiled at the size of the losses. Some now say those early estimates appear drastically understated.

Citigroup Inc. could write off as much as $18.7 billion in the fourth quarter, wrote Goldman analysts William F. Tanona, Betsy Miller and Neil C. Sanyal in a note to investors late Wednesday. If it does, they say, the bank may be forced to lower its dividend by 40 percent.

 

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The subprime crap is not over yet. Anyone notice that for the first time when we had a major geopolitical event that shocked the market, the US Dollar went down instead of UP.

We have become weak. Would you like the French Fries with that burger Monsieur tourist? Merci Beaucoup.