Stubborn Bears Likely to Get Burned
by Sam Collins 11/09/09
Free Trading Guides
First, the key reversal day connects the lows on the major indices with a second point in June, creating a new rising support line now at Dow 9,700, S&P 1,030, and Nasdaq 2,028.
Next, the internal indicators are still not only oversold, but last week several, including the slow stochastic, flashed outright short-term buy signals.
Finally, last week every major index closed above its 50-day moving average, negating the "false breakdown" of the prior week.
Is the advance slowing? Yes, I've mentioned that for several weeks, but until the market says otherwise I remain a bull.
Today's Trading Landscape
Earnings to be reported include:
Abraxas Petroleum, Advanced Photonix, American Water Works Co., Angiotech Pharmaceuticals, Arena Pharmaceuticals, Assisted Living Concepts
Ballantyne Strong, Bancolombia SA, BMP Sunstone Corp., Boots & Coots, BPZ Resources
Capitol Federal Financial, Cardiac Science, Cardiome Pharma Corp., Care Investment Trust, Carrizo Oil & Gas, CECO Environmental, CGI Group, China Fire & Security Group, China Information Security Technology, Chinacast Education Corp., Chindex International, Cinemark Holdings, Compass Diversified Holdings, Comverge, Digitalglobe
DISH Network Corp., DIVX, DTS, Duoyuan Global Water, Dynex Capital, Echostar Corp., Electronic Arts, Emeritus Corp., Ener1, Energy Conversion Devices, Energy Partners Ltd., Energy Transfer Equity LP, Energy Transfer Partners, ENGlobal, Enterprise Group Holdings LP, EV Energy Partners LP
Fluor Corp., Force Protection, Full House Resorts, FUQI International
Golden Star Resources Ltd., GT Solar International
Harvest Energy Trust, Hawk, Healthcare Realty Trust, Hologic, Home Inns & Hotels Management, Hospitality Properties Trust, Houston Wire & Cable Co., HQ Sustainable Maritime Industries
Inter Parfums
Keynote Systems, Kohlberg Capital Corp., Korea Electric Power
Lannett Co., Liberty Media Corp., Lions Gate Entertainment, Live Nation, Loral Space & Communications
MarkWest Energy Partners LP, MBIA, McDermott International, Mechel OAO, Michael Baker Corp., Middleby, Miller Industries, Mindray Medical International, Minefinders Ltd., Molecular Insight Pharmaceuticals
NatCo., Nationwide Health Properties, NBTY, Neenah Paper, Nelnet, Nordic American Tanker
Partner Communications, Peerless Manufacturing, Pengrowth Energy Trust, Pike Electric Corp., Priceline.com
Quicksilver Gas Services LP, Quicksilver Resources
Rackspace Hosting, Radnet, Regency Energy Partners LP, Rentrak Corp., Rockville Financial, Rockwell Automation, Rosetta Resources, Rostelecom
Saga Communications, Schawk, Sempra Energy, Silver Wheaton Corp., SouthWest Water, Sterling Construction Co., Stifel Financial
Tesoro Corp., TETRA Technologies, Ticketmaster Entertainment, TOP Ships, Toreador Resources, TransMontaigne Partners LP, TravelCenters of America, TRC Companies, Trex Co., TriMas Corp.
UTEK Corp.
Verenium Corp., Versar
Western Refining, Windstream Communications
There are no significant economic reports due today.
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