Wednesday Morning Coffee with TradingMarkets

Good Morning!

U.S. Stock Rally Resumes, Tech, Energies Lead … Asian Stocks Advance on U.S. Stimulus Proposals … Obama Predicts Enduring $1 Trillion Deficit … Retail Earnings Today: Supervalu, Family Dollar Stores, Ruby Tuesday … Top Energy ETFs This Week: UGA, PSP, UYM, DXO, BHH …

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TradingMarkets 7 Stocks You Need to Know for Wednesday

Here are 7 stocks for traders for Wednesday from TradingMarkets.com:

  • A new variable pricing strategy for iTunes customers and news of an under-$2,800 MacBook cheered traders in Apple
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    on Tuesday who kept the stock aloft despite profit-taking late in the session.

  • Dow Chemical
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    has suggested that it may seek legal action over the loss of funding from Kuwait, funding that was slated to help the chemical giant complete its acquisition of Rohm and Haas.

  • Alcoa
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    announced massive job cuts, a 50% reduction in capital spending, and a suspension of its stock buyback program. The failing global economy was blamed for the moves.

  • A patent-extension for its anti-cholesterol drug Lipitor will likely keep Pfizer
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    on top in this drug category through 2011, according to industry analysts. Pfizer was among a number of drug stocks which have pulled back from recent overbought extremes.

  • After a brief pause on Monday, shares of Hewlett-Packard
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    soared on Tuesday. The stock has advanced for seven out of the past eight trading sessions.

  • Supervalu
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    and Family Dollar Stores
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    are a pair of retailers reporting quarterly earnings Wednesday morning before the market opens. Analysts are expecting EPS of 60 cents from Supervalu and 40 cents from Family Dollar.

For a list of today’s highest PowerRating stocks, click here.

TradingMarkets 5 PowerRatings Stocks for Today

Company
Symbol PowerRatings
ProShares UltraShort Semiconductor ETF SSG 8
iShares Lehman Bros 20+ Yr Treasury ETF TLT 8
Quality Systems Inc. QSII 8
Cogent Inc. COGT 8
Allegiant Travel Company ALGT 8

View More Stocks

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TradingMarkets Making Great Traders


The Powerful Combination of Strategies and Symmetry
TradingMarkets

After posting healthy gains in Monday’s session, the energy sector is continuing to advance with crude oil trading over 50. See Kevin Haggerty’s recap of yesterday’s trades, as well as, his commentary on opportunities in the major market today.

Party Like It’s 1975?TradingMarkets

As the first few trading days of January goes: the major indexes have all edged above the 50-day average, commodities are coming off their crash lows, and earnings will be coming out in droves soon. According to Gary Kaltbaum, not everything is perfect but the market is looking better.

TradingMarkets

Breaking out to levels not seen since early November, the Energy Select Sector SPDRS continue to benefit from resurgent energy prices. Also higher on Tuesday were tech-related exchange-traded funds such as the Technology Select Sector SPDRS.

TradingMarkets Daily PowerRatings Analysis


Bought and Overbought: PowerRatings Point to Inverse Opportunities
TradingMarkets

As stocks move higher, odds increase that the best opportunities in the near term are in the opposite direction.

Click here to get a peek at the new blog, Market Moods, by TradingMarkets Editor David Penn!

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