Weekly Review:
Last week was pure carnage, to put it mildly. We had heavy, high-volume selling pretty much all week long. It's not the news that matters so much as the market's reaction to the news. The dip-buyers were nowhere to be seen, and we had some big earnings reports last week.
Weekly Preview:
We have more big earnings reports this week, as well. I'm still sticking with the view that this is a correction rather than the start of a reversal, though the heavy volume with which we sold off last week is a major red flag. Regardless, I'm going to become more aggressive on the short side than I have been in a very long time. Said another way, I'm actually actively looking for shorts again, which I haven't done in many months.
Earnings season keeps going this week. Here's a breakdown of the ones I'm watching day by day. Note that when I say, "For [blank] morning," I mean the stock reports earnings either after the close the previous day or before the open on that day.
Monday: AKS, CNH, DGX, ETN, HAL, SEE, VSEC, WAT
Tuesday: AMGN, AAPL, ATHR, CR, GGG, JDAS, OLN, PRXL, TXN, TSCM, VMW, ZION, ABC, AME, BHI, CRS, CCUR, CBE, GLW, DAL, DD, EMC, ENR, FPL, JEC, JNJ, MTG, NVS, NUE, BTU, RYN, RF, SHW, SI, SIFY, TLAB, MHP, TRV, TUES, X, VZ, GWW, WFT,
Wednesday: ALTR, BXP, BKI, ELY, CNI, CASB, DV, GILD, MCK, MTH, MOLX, QLGC, RFMD, RKT, STM, SYK, WMS, YHOO, ABT, AAI, ATI, BMC, CAJ, CAT, COP, EXP, EWBC, EOC, ENI, GD, HES, HOKU, ITW, LRCX, NVR, PX, ROK, SAP, SII, SO, STJ, BA, SWK, TEL, UAUA, UTX, USG, VLO, WLP,
Thursday: ACF, AMLN, BYI, CBT, CMO, CTXS, CVD, ETFC, FLEX, GMCR, HBI, HRS, LSTR, MEOH, MUR, NFLX, NYB, NE, NSC, QCOM, RYL, SRDX, SYMC, TER, TTEK, VAR, MMM, ADPT, ALK, MO, AEP, ABFS, AZN, T, AVID, BLL, BAX, BDX, BMS, BMY, CP, CAH, CSH, CELG, CL, COLM, CPWR, CNX, CY, D, DRE, EK, LLY, EQT, ETH, F, BEN, GR, HP, ISCA, JNS, JBLU, KSU, KMT, LLL, LEG, LMT, MKC, MJN, MNRO, MOT, NOK, OXY, ODFL, OXPS, OSK, PII, POT, PG, RTN, COL, SY, TROW, TSM, TXT, EL, TWC, TYC, LCC, WRLD, ZMH
Friday: ARG, AMZN, AMCC, ARBA, BCR, CPHD, CB, CYT, DHR, EMN, FII, GNW, IMGN, RMBS, JNPR, KLAC, KYO, MXIM, MSFT, NEU, RHI, SNDK, SNV, ACI, ALV, AVY, CVX, FO, GHM, HON, MAT, NWL, DCM, NS, PCAR, SAIA, WL,
Monday: EEP, ACV, CYOU, GCI, HEW, HUM, NI, SOHU,
For a preview of this week's major economic announcements, I'll send you here. Michael McDonough does a better job of summing this stuff up than I could. Since this is a stock-picking blog versus an economics blog, I typically won't talk about this kind of stuff. Also, for a better preview of the week's market-related events, I'd recommend going here. TheStreet.com typically has a good weekly preview article for more stock-related events.
Validea rebalanced their monthly portfolios this weekend, so I didn't run the screens and instead updated those watchlists.
Position: Long UTX
Disclaimer: This is not a recommendation and is presented for informational purposes only.
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