The market had another bruising week for traders focused on the long side of the market. It’s been a tough market for those that have tried to “call” bottoms. Waiting for the market to have more than a one-day bounce is usually the better way to feel your way into the dangers of being long these days. We will not have much in earnings reports that may provide a bright spot. The one report to watch for is General Electric (GE). Let’s get right into this week’s ideas.

Indexes to Watch
Dow Diamonds-$113.05 (DIA) - this has been one of the plays that we have advised being short to hedge one’s portfolio
Powershares QQQ-$44.63 (QQQQ) - also a way to get short exposure to weakness on the Nasdaq
S&P 500-$126.31 (SPY) - another one of the index plays that gives you can short to hedge your portfolio.
Oil-$116.82 (USO) - tough play for shorts to try and call the top on. Trend is your friend.
Gold-$92.06 (GLD) - Gold has made strong strides the last few weeks. Will it make a run at new highs. The next two weeks will tell us.

Performed Best This Week
Apple-$170.12 (AAPL)- new product launches friday.
Google-$537.00 (GOOG)- held up decent this week.
Goldman Sachs-$178.89 (GS)- investors see this company taking more market share during the broker debacle.

Will There Be a Bounce?
Agrium-$97.00 (AGU)- fertilizer name needs to recapture $100 level
Bucyrus International-$63.82 (BUCY)- “picks and shovels” play hitting a bump last week
Cleveland Cliffs-$93.57 (CLF)- momentum traders love the name.
Fluor Corp-$179.92 (FLR)- will be splitting soon
MasterCard-$253.74 (MA)- in a rare slump with buyers staying away for now. The $225 level is key
Monsanto-$120.21 (MON)- the seed play is slumping since its earnings
Priceline-$106.74 (PCLN)- the online travel player is catching the airline bug
Potash-$210.89 (POT)- fertilizer play will need to hold $190 level-if it drops
Research-n-Motion-$115.04 (RIMM)- we’ll be watching reaction to Apple’s launch this week
Walter Industries-$87.57 (WLT)- big drop from high this week.
U.S. Steel-$155.80 (X)- momentum traders will be watching $137-140 level-if it gets there

We would like to thank the dedicated readers and those who have just found our site. We promise that it will get better and you can say you were not only the early users, but hopefully you started your path to a better financial future with our research work. More names are getting deleted from the Best Dividend Stocks list, so be sure to come back and check our work. We are excited that “Google Finance” and now “AOL Finance” carry our Dividend content. Hopefully more exciting news to come!

Be sure to visit our complete recommended list of the Best Dividend Stocks as well as our ratings system here.

Dividend.com

Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. The author is not registered as an investment adviser. The author may or may not hold positions in the securities mentioned in this article or video. The author relies upon the "publisher's exclusion" from the definition of "investment adviser" as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.

This entry was posted on Saturday, July 5th, 2008 at 10:32 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.