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This Week in Stocks: 7/7 - 7/13/07
- Thread starter Show-me
- Start date
- Status
Show-me
TSP Legend
- Reaction score
- 104
You're interesting today Show!
And you too.
You might as well face it, you stuck with high oil prices. Get ya some of those "oil sand" stocks and hope the middle east runs out.
Wait for the boyz at the Hurricane Center to predict one coming down the Gulf. That is after they get done s*** canning their new boss. Tuff crowd down there and I like'm.
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Show-me
TSP Legend
- Reaction score
- 104
Well the morning is looking a little rough today.
Home Depot cut its 2007 profit outlook.
Fed Chief Bernanke has a speech in Cambridge, Mass.
"We sort of kicked off the earnings season with a wimper. Alcoa, and Home Depot aren't thrilling us here," said Hogan. "I'd be hard pressed to see anyone make a big move before we hear what Bernanke has got to say and how hawkish he's going to be on inflation."
http://money.cnn.com/2007/07/10/markets/stockswatch_ny/index.htm
Here is todays action:
Tuesday, July 10:
Home Depot cut its 2007 profit outlook.
Fed Chief Bernanke has a speech in Cambridge, Mass.
"We sort of kicked off the earnings season with a wimper. Alcoa, and Home Depot aren't thrilling us here," said Hogan. "I'd be hard pressed to see anyone make a big move before we hear what Bernanke has got to say and how hawkish he's going to be on inflation."
http://money.cnn.com/2007/07/10/markets/stockswatch_ny/index.htm
Here is todays action:
Tuesday, July 10:
- Earnings: Pepsi Bottling (PBG); Helen of Troy (HELE); Sealy (ZZ)
- Economic Data: Wholesale Inventories
- Events: None
- Conferences: C.E. Unterberg, Towbin Emerging Growth Conference; CIBC World Markets Consumer Growth Conference
- Fed Speakers: Fed Chairman Bernanke speaks on inflation
Show-me
TSP Legend
- Reaction score
- 104
http://www.briefing.com/Investor/Private/Calendars/EarningsCalendar.htm
Looks like most are making estimates. Intl Speedway is the only loser on this list.
What if?
What if Ben B. make comments positive for upward market action?
That would be ................................. interesting.
Looks like most are making estimates. Intl Speedway is the only loser on this list.
What if?
What if Ben B. make comments positive for upward market action?
That would be ................................. interesting.
fedgolfer
TSP Pro
- Reaction score
- 26
agreed, we could have already seen the bulk of the red. The 10, 20, & 50 DMAs on the s&P are all converged around 1517 to a 1519'ish. The next line of technical support is the lower bollinger and psar at 1490... will there be enough doom and gloom in the news and Bernanke's speech to send the markets that low. Or will the markets love Ben and make this the buying op? And is it the buying op for the next leg up or just a dead cat bounce?
fedgolfer
TSP Pro
- Reaction score
- 26
Using ETFs and the VIX to find some clarity or add to the murk:
GLD has broken out to the upside of its descending channel... this is usually bearish for equities (looks to be a buy for swing traders).
SPY - if you draw a lower channel line from the March low to yesterdays close, it appears as though it kissed the channel.
DIA - also below the ascending channel
QQQQ - appears overbought
VIX - looks like it could shoot up to 18 without much resistance (bearish)
GLD has broken out to the upside of its descending channel... this is usually bearish for equities (looks to be a buy for swing traders).
SPY - if you draw a lower channel line from the March low to yesterdays close, it appears as though it kissed the channel.
DIA - also below the ascending channel
QQQQ - appears overbought
VIX - looks like it could shoot up to 18 without much resistance (bearish)
Bullitt
Market Veteran
- Reaction score
- 75
I don't know if I'd call this a dip. Highest trading volume since 6/22, which was another distribution day. We haven't had an up day with volume higher than today since 6/15! The bears CRUSHED us today!
Forget the Home Distaster (HD), we knew they were finished with the housing tanking. Take a look at Sears (SHLD) outlook. They lowered guidance this quarter by 50%!!! That is unheard of. Analysts were expecting 2.12 per share, SHLD comes out and says they expect 1.06. Unbelievable. The ripple effect of this is going to be incredible.
Here's the rub. Eddie Lampert who owns hedge fund ESL investments has a 10% stake in the company. On 7/2 he filed a Form 4 with the SEC stating that he sold 3,110,297 shares. That represents 18% of his total stake sold in SHLD. Cramer fans, the house of cards has fallen. Sears is a retailer whether you like it or not. Eddie bailed the week of July 4th for a reason.
Forget the Home Distaster (HD), we knew they were finished with the housing tanking. Take a look at Sears (SHLD) outlook. They lowered guidance this quarter by 50%!!! That is unheard of. Analysts were expecting 2.12 per share, SHLD comes out and says they expect 1.06. Unbelievable. The ripple effect of this is going to be incredible.
Here's the rub. Eddie Lampert who owns hedge fund ESL investments has a 10% stake in the company. On 7/2 he filed a Form 4 with the SEC stating that he sold 3,110,297 shares. That represents 18% of his total stake sold in SHLD. Cramer fans, the house of cards has fallen. Sears is a retailer whether you like it or not. Eddie bailed the week of July 4th for a reason.
weatherweenie
TSP Legend
- Reaction score
- 179
Housing tanking is an excuse used by HD execs, IMO, and I'm a VERY small shareholder.
No matter where people live, be it apts, condos, homes, they'll need home improvement items.
I'm just glad that my HD holdings are small, and my daughter won't be going to college for another 9 years.
Bullitt
Market Veteran
- Reaction score
- 75
I agree with you. Lowes/HD are always busy around here. I stopped trying to understand why Lowes specifically gets beaten down as hard as it does by Wall Street.
Show-me
TSP Legend
- Reaction score
- 104
Wednesday, July 11:
- Earnings: Genentech (DNA); YUM! Brands (YUM)
- Economic Data: None
- Events: Dept. of Energy Inventory Report
- Conferences: C.E. Unterberg, Towbin Emerging Growth Conference; CIBC World Markets Consumer Growth Conference
- Fed Speakers: Philadelphia Fed president Plosser speaks on housing prices and monetary policy
fedgolfer
TSP Pro
- Reaction score
- 26
Trying to weigh tomorrow's econ data before today's IFT. Export/Import prices and retail sales reports out tomorrow before the opening bell. If the reports support goldilocks, do we go higher? Or do we sell the news since it appears as though the indices are at the top of their channels?
charmed855
TSP Strategist
- Reaction score
- 9
I think that would be tomorrow. Jul 2,3,5,6,9,10,11,12,13 - yup, lucky Friday the 13th is the 9th trading day.
fedgolfer
TSP Pro
- Reaction score
- 26
Bernanke says inflation is in check? Lets be thankful parking spots are not a component of tomorrow's econ data 
http://biz.yahoo.com/cnnm/070712/071207_parkingspots.html?.v=4
http://biz.yahoo.com/cnnm/070712/071207_parkingspots.html?.v=4
- Status
