Stock Info Week Newsletter, July 7, 2008
The Week Ahead: Job losses are now in there 6th straight monthly decline. European banks raised there interest rates. Oil eclipsed $145 a barrel, and the DOW officially reached bear market territory. Earnings season kicks off this week starting with Alcoa (AA) on Tuesday. Pending home sales and wholesale inventories will also be released. Same store sales numbers are due Thursday while the University of Michigan's Consumer Confidence report comes out on Friday. Watch for General Electric's (GE) earnings at weeks end as well.
Stocks to Watch: AmeriGroup (AGP) bounced from an oversold level after it renewed a contract with the state of Tennessee for healthcare services which also included an approved rate increase. Church & Dwight (CHD) which makes the Arm and Hammer baking soda received a brokerage downgrade because rising material costs are hurting the company's growth and profit margins. Acme Packet (APKT) dropped 40% after warning that 2nd Q earnings would fall short of estimates. Medical device maker TranS1 (TSON) cut 2nd Q revenue targets.
Special Note: Stock Markets around the world continue a pattern of inter-market bullish divergences where some are hitting new 52 week lows while other markets hold above there March lows. Regardless of this phenomenon, most stock indices here in the U.S. remain at or near oversold conditions. A relief rally could unfold at any time. The question should be at what level will this potential rally start and will it be sharp and brief or a gradual incline?
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
To view all of NobleTrading's historical newsletters, click here.
Click here to open an account.
NobleTrading Direct Access Trading
email: info@nobletrading.com
phone: 877.872.3311
web: http://www.nobletrading.com
Stocks to Watch: AmeriGroup (AGP) bounced from an oversold level after it renewed a contract with the state of Tennessee for healthcare services which also included an approved rate increase. Church & Dwight (CHD) which makes the Arm and Hammer baking soda received a brokerage downgrade because rising material costs are hurting the company's growth and profit margins. Acme Packet (APKT) dropped 40% after warning that 2nd Q earnings would fall short of estimates. Medical device maker TranS1 (TSON) cut 2nd Q revenue targets.
Special Note: Stock Markets around the world continue a pattern of inter-market bullish divergences where some are hitting new 52 week lows while other markets hold above there March lows. Regardless of this phenomenon, most stock indices here in the U.S. remain at or near oversold conditions. A relief rally could unfold at any time. The question should be at what level will this potential rally start and will it be sharp and brief or a gradual incline?
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
To view all of NobleTrading's historical newsletters, click here.
Click here to open an account.
NobleTrading Direct Access Trading
email: info@nobletrading.com
phone: 877.872.3311
web: http://www.nobletrading.com
posted by Daniel Pipitone at
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