TradingMarkets’ 7 Stocks You Need To Know About For Monday
Stocks fell Friday, with the major indices making new
lows intraday for the week and the month. U.S. consumer sentiment
fell in August–the University of Michigan’s Consumer Sentiment Index wasÂ
89.1 vs the 92.5 consensus. Major indices fell further after Greenspan said the
central bank is paying close attention to rising stock and home prices.
Homebuilders slumped on the news.
After crossing southern Florida,
Hurricane Katrina is expected to reach the panhandle on Monday night. It
now looks as if the storm will not disrupt Gulf oil production, although 21
platforms and rigs were evacuated as a precautionary measure. Katrina is now a
Category 2 storm, with 100 MPH winds. Crude oil closed down 2% on Friday. Last
year, crude prices rose 22% the month after Hurricane Ivan.
Loew’s
(
LTR |
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PowerRating)
is a nice-looking 3-day pullback. Let’s see if it can rally from it on Monday.
Baxter
(
BAX |
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PowerRating)
has pulled back more and is approaching its 50-day moving average.
AIG broke
through its 50-day MA, which is typically not a good sign. It’s still oversold.
Goldman Sachs
(
GS |
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PowerRating) has stair-stepped down two legs and may reverse soon.
Coca Cola
(
KO |
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PowerRating)
pulled back to its 50-day moving average.
Pepsi
(
PEP |
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PowerRating)
made a bullish bar on Friday and may reverse on Monday.
Finally, AT&T
(
T |
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PowerRating) is pretty oversold
here as well.
Brice Wightman
Â