7 Stocks You Need To Know About For Friday
Stocks were higher Thursday as a late
surge lifted stocks. This despite oil hitting an intraday high of
$66–a fourth new high in five sessions. The Dow
was propelled by Alcoa
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which was upgraded to ‘buy’ at UBS. Weakness in the dollar drove commodity
prices, with gold and copper making new highs.
After the
bell, Dell
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was $1.02 billion. Revenue was $13.4 billion, slightly lower than expected. The
stock traded lower after hours.
The US Dollar hit a
10-week low vs. the Euro and its lowest level vs. the Japanese Yen since June
after July retail sales numbers were released. Forex traders are focusing on
tomorrow’s trade report which will reveal whether the trade deficit has grown.
Here are a few stocks for Friday:
Yes, I know this is the fourth night in a row
I’ve talked about this stock, Baidu.com
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PowerRating), but I think it’s
important to look at it since it’s new. After a strong first day, the stock
pulled back and finally attempted a rally on Thursday. Note the volume pick up
as well. The stock is well off its highs. This is a good looking chart. As
always, there are no guarantees, however.
Dell
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reported in-line after the close and traded down after hours. It will most
likely take the entire market lower on the open on Friday. The stock is also a a
crucial level here, as you can see.
Allstate
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has really pulled back hard, and down to a recent swing point. It rallied a
little on Thursday and may attempt again on Friday.
When the computer companies get hit, the semis do
too, usually, and one of the safer ways to play the semis is through the
Semiconductor HOLDRs
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PowerRating). You can see potential support lines on
this chart.
KLA-Tencor [NASDAQ:KLAC]
is a daytrader’s favorite. If this stock is weak on Friday, it may be an
enticing long.
McDonald’s
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has really rallied the past month and a half. Today’s bar is parabolic. If you
already own it for a swing trade, I’d sell it. The stock may set up short next
week.
Brice Wightman