TradingMarkets’ 7 Stocks You Need To Know About Friday

Stocks were virtually flat Thursday after crude oil
backs off from record overnight highs.  Jobless claims fell
4,000 to 315,000, in line with estimates. The 4-week average is now 315,000.

Martha
Stewart Omnimedia
(
MSO |
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Chart |
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PowerRating) hit a one-month high after she detailed
plans for two upcoming television shows. The "Martha" show–starting September
12–will be similar to the shows she has done in the past, and "The Apprentice:
Martha Stewart" is patterned after the show featuring everyone’s favorite boss,
Donald Trump.

Here are a few stocks to watch on Friday:

The CEO of Chesapeake
(
CHK |
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PowerRating) bought a slug of shares (50,000) between
25.25 -27.35. It this signaling an all-clear for you to buy?

American Express
(
AXP |
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Chart |
News |
PowerRating) may bounce near its 50-day moving average.

Martha Stewart
(
MSO |
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Chart |
News |
PowerRating) was a big story on Thursday and the stock
popped nicely. It may gap up again on Friday, but remember, large range days are
often followed by consolidation days. Soccer Moms will still be buying, though,
I bet.

Sears
(
SHLD |
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Chart |
News |
PowerRating) carries Martha’s items and may benefit from the
exposure.

And Proctor & Gamble
(
PG |
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Chart |
News |
PowerRating) was (and maybe still is, I don’t know) a
big advertiser in Martha’s magazine.

Itron
(
ITRI |
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Chart |
News |
PowerRating) looks like a short.

Ericsson
(
ERICY |
Quote |
Chart |
News |
PowerRating) traded just below its 50-day moving average.
Will it find support?