This week was another grueling test of a trader’s endurance. Trading can be rewarding, but unfortunately, it can lead to the eventual blowing up of one’s portfolio, when the going gets tough. Traders need to avoid making big bets when the edge is missing. That being said, let’s take a look at what may in focus in this coming week.
Earnings This Week
Genentech (DNA)-$77.75, Intel Corp (INTC)-$20.64, Wells Fargo (WFC)-$23.00, Ebay (EBAY)-$28.01, Blackrock (BLK)-$174.71, JPMorgan (JPM)-$33.16, Nucor (NUE)-$65.37, SunPower (SPWR)-$71.83, Google (GOOG)-$533.80, IBM (IBM)-$122.12, Merrill Lynch (MER)-$27.61, Microsoft (MSFT)-$25.25, Citigroup (C)-$16.19
Indexes To Watch
UltraShort Oil & Gas-$30.48 (DUG) - keep your eye on this. It may become a nice long play. Had a good week.
Gold-$95.15 (GLD) - another gain this week for gold.
Silver-$186.39 (SLV) - following Gold’s lead.
Oil-$117.39 (USO) - surprised many this week with the late-week spike.
Financials-$18.68 (XLF) - lots of traders trying to catch the bottom here
Shorting Ideas? (Use Mostly for a Hedge)
S&P 500-$123.84 (SPY), Dow Diamonds-$111.00 (DIA), Nasdaq QQQ-$44.56 (QQQQ) - the easiest way for traders to ride the down trend. We would avoid individual stock shorts right now, as the climate can be right for big snap-backs.
Strongest Plays For a Possible Bounce in the Markets
Apple-$172.58 (AAPL) - has the best tech news out there.
Agrium-$101.47 (AGU), CF Industries-$159.05 (CF), Mosaic-$141.81 (MOS), Potash-$221.38 (POT)- are all top fertilizer plays if the uptrend continues.
Cleveland Cliffs-$109.41 (CLF) - the go-to name for momentum traders looking for a commodity run.
Fluor-$174.74 (FLR) - infrastructure play is splitting this week 2-1.
First Solar-$279.10 (FSLR) - getting its momentum back.
MasterCard-$257.35 (MA) - still the go-to name for momentum traders looking for a financial stock to ride.
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