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By David Penn | TradingMarkets.com
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Good Morning!

Dow Closes Up 150+ in Late Rally ... Hewlett-Packard Surprises with Positive Earnings Pre-announcement ... Paulson and Bernanke Face Congressional Grilling ... Big 3 Automakers Plead for Loan, Cite Restructuring Efforts Underway ... Yahoo Begins CEO Search

If your stock trading could use a boost, then treat yourself to a free, 7-day trial to our Short Term PowerRatings. The highest rated Short Term PowerRatings stocks have outperformed the average stock by a margin of nearly 17 to 1 after five days. Click here to start your free trial today!

TradingMarkets 7 Stocks You Need to Know for Wednesday

Here are 7 stocks for traders for Wednesday from TradingMarkets.com:

  • With Jerry Yang stepping down as Yahoo! (YHOO | Quote | Chart | News | PowerRating) CEO, unresolved deals such as the company's plan to buy Time Warner's AOL unit, are likely to be revisited.

  • BJs Wholesale (BJ | Quote | Chart | News | PowerRating) reports earnings Wednesday morning before the market opens. Analysts are expecting EPS of 0.46. After the bell on Wednesday, Men's Wearhouse (MW | Quote | Chart | News | PowerRating) is expected to announce quarterly earnings per share of 24 cents.

  • InBev received the final approval to complete its $52 billion dollar acquisition of Anheuser-Busch (BUD | Quote | Chart | News | PowerRating).

  • The CEOs of Ford Motor Company (F | Quote | Chart | News | PowerRating), General Motors (GM | Quote | Chart | News | PowerRating) and Chrysler testified before Congress in favor of $25 billion in loans to avoid a collapse of the U.S. auto industry.

  • Hewlett-Packard (HPQ | Quote | Chart | News | PowerRating) beat quarterly analysts earnings estimates in a pre-announcement that also included a positive forecast despite widespread fears of a global PC sales slowdown in 2009.

For a list of today's highest PowerRating stocks, click here.

TradingMarkets 5 PowerRatings Stocks for Today

Company
Symbol PowerRatings
Life Partners Holdings Inc. LPHI 9
Unifi Inc. UFI 8
Standex International Corp. SXI 8
Thoratec Corporation THOR 8
Bank of the Ozarks OZRK 8
View More Stocks

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Doesn't matter what market, symbol or chart setting involved: diamond patterns appear regularly and predictably. TradingMarkets contributor Austin Passamonte discusses how traders can spot this simple pattern formation.

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TradingMarkets Daily PowerRatings Analysis

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Was the late rally on Tuesday evidence of a successful test of the lows? Find out how swing traders can continue to effectively trade this range-bound market.

Click here to get a peek at the new blog, Market Moods, by TradingMarkets Editor David Penn!

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