Weekly Stock Market Newsletter, May 11, 2009
The Week Ahead: Although widespread layoffs persist in construction, manufacturing, retail, and financial services, optimism that the slowing pace of job loss will lead to economic recovery took hold. Look for the trade balance numbers due out on Tuesday and the retail sales figures on Wednesday. The Producer Price Index is released Thursday along with jobless claims while the Consumer Price Index is revealed Friday.
Stocks to Watch: Toyota Motor (TM ) is forecasting an $8.6 billion loss for the year ending March 2010 as the stock rolled over from a recent high. International Rectifier (IRF) revenues dropped by 42% and its Q3 loss widened by a large margin from a year ago as the stock may have reversed a nearly 6 month long rally. Orbital Sciences Corporation (ORB) stock fell hard on word of government cutbacks in its missile defense program. DryShips (DRYS) filed for its third common stock offering in just 6 months creating more earnings dilution for current shareholders.
Special Note: Evidence is building that at least a near term pullback in the major indexes after a 9 week upturn could be in the offing as the more speculative OTC indexes are starting to lag behind the more stable industrials and S&P 500 stocks. But overall the 200 day moving averages could prove to be a magnet for the DOW and S&P 500 before the larger intermediate up trend comes to an end.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
Click Here To Open An Account
NobleTrading Direct Access Trading
Stocks to Watch: Toyota Motor (TM ) is forecasting an $8.6 billion loss for the year ending March 2010 as the stock rolled over from a recent high. International Rectifier (IRF) revenues dropped by 42% and its Q3 loss widened by a large margin from a year ago as the stock may have reversed a nearly 6 month long rally. Orbital Sciences Corporation (ORB) stock fell hard on word of government cutbacks in its missile defense program. DryShips (DRYS) filed for its third common stock offering in just 6 months creating more earnings dilution for current shareholders.
Special Note: Evidence is building that at least a near term pullback in the major indexes after a 9 week upturn could be in the offing as the more speculative OTC indexes are starting to lag behind the more stable industrials and S&P 500 stocks. But overall the 200 day moving averages could prove to be a magnet for the DOW and S&P 500 before the larger intermediate up trend comes to an end.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
Click Here To Open An Account
NobleTrading Direct Access Trading
posted by Daniel Pipitone at
6:16 AM
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