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Monday, November 27, 2006

Weak Start for the Week Ahead?

The markets were down last Fri due to nervousness in the market as the holiday shopping season begins and concern that U.S. shares became less attractive to foreigners after a steep drop in the dollar.

We'll see how the market kick off today but for a start, news from Reuters does not seem so postive and we may see a weak start today. Will the bulls be able fight off the weak start like it always did recently?

Reuters reported that:
-Traffic was down but spending was up during the 3 day holiday season and that analysts were not not impressed with overall traffic levels.
-Web sales were down on Black Friday.
-Wal-Mart sees weak sales as holiday season starts

Here's looking at the week ahead. We've got a fair amount of economic data and a couple of earnings from the retailers as well.

Tue: Consumer Confidence, Existing Home Sales
Notable earnings: CHS, DBRN, FRO, **ARO

Wed
: New Home Sales, Fed Beige Book
Notable earnings: TIF

Thurs: Personal Income, Personal Spending
Notable earnings: HRB, HNZ, *CAKE, OVTI

*Big mover earnings stock
**If you are trading ARO, pls check its earnings announcement again for confirmation. Yahoo Finance reflects 29/11 AMC while briefing.com shows up 28/11 AMC. ARO website didn't specifically state earnings time and date, though it mentioned that its conference call is on 29/11 morning, so most likely I think is 28/11 AMC.


4 Comments:

Blogger Cal said...

I'm weary of a pullback this coming week. We're overbought, and I know some people are itching to take profits, once they start I'm guessing we're gonna sell off hard. But of course, there are always the dip buyers that give us confidence afterwards...
Check me out,
CalTrader

11:26 AM  
Blogger Simply Options Trader said...

Hi Cal, you are right on. Looking forward to the market activity tonite this week.

Btw, you've got a nice blog. Great to start trading young because by the time you are done with studies, you would have accumulated a great deal of trading experience to start a full time career in trading, if you want to.

All the best!

4:25 PM  
Blogger Cal said...

Boy was I right about Monday's action sheesh! Well at least we advanced some today, if we would have ended in the red today that would be another bad sign. Let's hope Wall Street had huge sneeze yesterday, is wiping their nose today, and get better by the end of this week. Thanks for your comments.
-Cal

12:39 PM  
Blogger Simply Options Trader said...

that was an apt analogy, lol!

2:12 PM  

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