Thursday Morning Coffee with TradingMarkets
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Good Morning! |
U.S. Stocks Stage Final Hour Rally, Financials Lead … Asian Markets Advance …Obama Plans Massive Regulatory Overhaul for Financial System … Home Sales Up as Prices Plunge … Oversold ETFs for Today Include: AGG, TLT, SDS, PSQ, TWM …
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“Larry has done it again. He delivers an insightful handbook of practical, useful and timeless methods to profit in the market.” – Tony Saliba, CEO of BNY ConvergEx LiquidPoint; Profiled in Market Wizards
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TradingMarkets 7 Stocks You Need to Know for Today |
Here are 7 stocks for traders for today from TradingMarkets.com:
- Reporting earnings after the market closed on Wednesday, Paychex
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PowerRating) announced EPS of 36 cents which was in-line with analyst estimates. Down more than 3% before the close, PAYX had been trading in extreme overbought territory below the 200-day moving average for the past two days. - JP Morgan Chase & Co.
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PowerRating) was among the financial stocks to move dramatically late on Wednesday. Closing up more than 8% on the day, JPM rallied by more than 9% from its intraday lows in the last hour of trading. - A number of companies are reporting quarterly earnings before the market opens on Thursday. These include Best Buy
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PowerRating), which is expected to report earnings per share of 1.41; ConAgra Foods
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PowerRating), which is expected to announce EPS of 37 cents; and GameStop Corporation
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PowerRating) from which analysts are expecting to hear per share earnings of 1.34. - Without announcing specific numbers, IBM
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PowerRating) warned on Wednesday that it would be cutting jobs at its global services unit and transferring many of those responsibilities to workers in India. The stock continues to trade just below its 200-day moving average. - Goldman Sachs
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PowerRating) is unlikely to sell its stake in ICBC before the spring of 2010, according to Chinese officials.
For a list of today’s highest PowerRating stocks, click here.
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TradingMarkets 5 PowerRatings Stocks for Today |
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Company
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Symbol | PowerRatings |
| ProShares UltraShort Utilities ETF | SDP | 8 |
| ProShares UltraShort Consumer Goods ETF | SZK | 8 |
| Cheniere Energy | LNG | 8 |
| Skyworks Solutions Inc. | SKWS | 7 |
| Siga Technologies Inc. | SIGA | 7 |
| View More Stocks |
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!
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TradingMarkets Making Great Traders |
Andrew Lo, ETFs and the Future of Equities – TradingMarkets
Larry Connors shares an article from today’s Financial Times which discusses the future of equities. A highlight of the article centers around what Andrew Lo of MIT had to say about a new paradigm and the future of ETFs.
3 Ways to Indentify a Market Bottom – TradingMarkets
TradingMarkets contributor David Wilder discusses the intermarket relationships between the S&P 500, bonds, U.S. Dollar and gold, as well as provides some early insight that we might glean from their relative price action.
TradingMarkets 7 ETFs You Need to Know for Today – TradingMarkets
Lower prices for crude oil meant lower levels for energy ETFs, which were among those most aggressively sold on Wednesday. Moving toward oversold territory below the 200-day moving average was the Energy Select Sector SPDRS ETF, which closed down for a second consecutive day.
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TradingMarkets Daily PowerRatings Analysis |
Selling Strength and Waiting on Weakness – TradingMarkets
The stocks highlighted in yesterday’s column have rallied to profit-taking levels for short term traders, while the short ETFs continue to pull back toward their 200-day moving averages. Click here to find tomorrow’s potential opportunities today!
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