Morning Coffee with TradingMarkets
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Good Morning! |
Discounts Drive Internet Sales Higher…Wall Street Warns of M&A
Slump…Food Prices Spike Worldwide…Greenspan Favors Subprime Bailout…Home
Prices Collapse in London…Asian stocks lower, European stocks lower, Dollar
gaining on yen, Euro…And the futures are trading lower in the hour before the
bell.
Investors decided against holding positions over the weekend, leading to a
close near the lows on Friday. Last week took about 50% off of the rally from
the late November lows. A test of the monthly lows seems inevitable. But will
fear force a retest of the November lows, as well? Earnings announcements this
week include Best Buy
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BBY |
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PowerRating), Oracle
(
ORCL |
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PowerRating) and Morgan
Stanley
(
MS |
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PowerRating).
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TradingMarkets 5 Business Stories You Need to Know |
Greenback Expected to Finish Year Strong –
Daily FX
Fears of a collapse in the dollar have faded as the greenback has shown
surprising strength against both the Euro and pound, as well as against resource
currencies like the Canadian and Australian currencies.
Stock Market in Hands of Holiday Shoppers –
Wall Street Journal
As goes the consumer, so goes the fate of more than just the retail sector. This
season the entire economy seems to be counting on holiday season consumption.
Food Fight! – Financial Times
Recent magazine covers of The Economist, BusinessWeek both underscore growing
panic over the cost of food worldwide. High cost of wheat, rice expected to
bring “second wave” of food inflation to world economy.
How Wall Street Missed Its Own – Wall Street Journal
It is now clear that many Wall Street analysts were completely blindsided by the
earnings disappointments of their banking brethren. And the comparisons to the
role of analysts in the dot.com bubble have already begun.
Money Managers Play December Dress Up –
Forbes
Days ago in Morning Coffee with TradingMarkets, we told you abut the potential
for “What the Hell” trading as the year drew to a close. With ten trading days
left in 2008, there’s more reason to pay attention to what has already been
working.
For more stories as they happen, go to our Breaking News section.
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TradingMarkets 7 Stocks You Need to Know for Today |
Here are 7 stocks for traders for today from TradingMarkets.com:
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Adobe Systems
(
ADBE |
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News |
PowerRating) reports earnings on Monday before the
bell, with traders looking for $0.48 EPS. -
When Spartech
(
SEH |
Quote |
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News |
PowerRating) announces quarterly results on Monday
morning, analysts will be watching for $0.01 EPS. -
Black & Decker
(
BDK |
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Chart |
News |
PowerRating) fell over 6% on Friday, after lowering
its profit forecast for Q4 and the full year. -
CDC Corporation
(
CHINA |
Quote |
Chart |
News |
PowerRating) plummeted 17% after missing analyst
earnings estimates on Friday morning. -
Evergreen Solar
(
ESLR |
Quote |
Chart |
News |
PowerRating) ralled 12% after announcing plans to
purchase enough refined silicon to produce 1,000 megawatts of modules by
2012. - JA Solar Holdings
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JASO |
Quote |
Chart |
News |
PowerRating) also rallied 12% after projecting the
company will beat analyst estimates for Q4. - Quiksilver
(
ZQK |
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Chart |
News |
PowerRating) fell 10% on Friday after missing earnings
estimates on Friday morning.
For a list of today’s highest PowerRating stocks, click here.
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TradingMarkets 5 Top PowerRatings Stocks for Today |
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Company
|
Symbol | PowerRatings |
| Genlyte Group | GLYT | 9 |
| Zoltek Companies | ZOLT | 8 |
| Vivo Participacoes | VIV | 8 |
| Tessera Technologies | TSRA | 8 |
| Sigma Designs | SIGM | 8 |
| View More Stocks |
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TradingMarkets Tracking the Wizards |
Investors Pull Billion from Tudor Fund –
International Herald Tribune
Hedge fund run by James Pallotta suffers redemptions after 8.5% loss year to
date. Bad bets on U.S. equities blamed for 3.1% loss in November. Biggest Tudor
Fund, BVI, was up 5.5% through November.
Blackstone Raises $1.3bn for “Toxic” Debt Investment –
Financial News Online
Bank debt, publicly traded debt and CDOs are among the assets sought by
Blackstone Credit Liquidity Partners. Superior risk-adjusted returns from income
and capital appreciation is fund’s goal.
Newsletter Gurus Optimistic for 2008 –
CBS Marketwatch
Traders and investors of Mark Hulbert’s Newsletter Honor Roll of 2008 range from
moderately to “outright” bullish on the prospects for stocks in 2008.
View Portfolios of Prominent Investors
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TradingMarkets Playbook |
The sell-off on Friday left the market more than a little oversold. As we
have said consistently, the more the market comes in, the more apparent the
opportunities will be near mid-week. This is especially the case if we get a
hard “down day” in today’s session.
Many technicians likely took Friday’s bearish close for a sell-signal, so
follow-through to the downside should be expected today and perhaps Tuesday.
Again, we urge patience to allow the market to show us where the bargains and
best opportunities can be found. Sellers overplaying their hand and creating an
oversold market could have the same effect on investor psychology that we saw in
late November: a sudden stampede of buyers.
David Penn is Senior Editor at TradingMarkets.com.
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