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Tuesday, April 15, 2008

Watch for Bellwether Stocks Earnings This Week

We'll see many bellwether stocks like IBM, Google, Intel, Citibank etc reporting earnings this week. There is also plenty of economic data coming out this week. Be very careful with your trading and be sure to check for earnings date when you are swing trading.

Google Inc (NASDAQ:GOOG) is reporting earnings after hours this Thursday. GOOG is always a high profile stock but its not my trading style to place directional bets on earnings. Here's a preview of GOOG chart:

After staying in a downtrend channel for three months, GOOG has finally broke to the upside with series of higher highs and higher lows since end March. The move up hit the 50 day moving average which acted as resistance. Right now, the 20 day moving average and $450 level is providing some support. GOOG may well stay within the range of 50 day moving average and $450 until earnings is out. But with Intel Corporation (NASDAQ:INTC), another giant on the Nasdaq announcing tomorrow, it may very well move GOOG out of this range.


Mon: Retail Sales, Business Inventories
Notable earnings: ETN, GWW

Tue: PPI, NY Empire State Index
Notable earnings: CSX, INTC, JNJ, STX

Wed: CPI, Housing Starts, Building Permits, Industrial Production, Capacity Utilization, Fed's Beige Book
Notable earnings: ABT, EBAY, GILD, IBM, JPM, JCI, EDU, KO, STJ, WFC

Thurs: Unemployment claims, Leading Indicators, Phil Fed
Notable earnings: COF, CAL, FHN, ESLR, GOOG, HOG, IGT, ISRG, MER, MAR, NOK, NUE, PFE, RS, SNDK, SYK, SPWR, TXT, UTX

Fri: Options Expiration
Notable earnings: CAT, C, HON, SLB


Bullish Watchlist: RRC, MDR, CSX, OXY, WLT, CMP

Bearish Watchlist: MHS, NIHD, PPDI, WFMI, WHR

Triangles: RL, OMG

2 Comments:

Anonymous Ronald Lee said...

Playing earnings is gambling as past results does not guarantee future performances. Be very careful as it will lead to losses in the long run. Be wise my friend.

1:20 PM  
Blogger Simply Options Trader said...

Ronald,
I'm with you on this. In fact, I've stated in this post that its not my trading style to place directional bets on earnings. However that doesn't mean we shouldn't take note of these big companies reporting earnings as they could affect market / sector direction.

Thanks for dropping by.

7:49 PM  

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