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FirstAlert: 3-3:30 P.M. Investrend / Bestcalls
(InvesTrend Via Acquire Media NewsEdge)
September 17, 2008 (Financial Wire) Conference calls scheduled at 3 to
3:30 p.m. on Investrend Broadcast via partner BestCalls include
optionsXpress Holdings Inc. (NASDAQ: OXPS), Medtronic Inc. (NYSE: MDT),
Corinthian Colleges Inc. (NASDAQ: COCO), Marvel Entertainment Inc.
(NYSE: MVL), Atheros Communications Inc. (NASDAQ: ATHR), Audiovox
Corporation (NASDAQ: VOXX), The Ryland Group Inc. (NYSE: RYL).
Conference calls are often impacted by market trends, geopolitical
conditions, news coming from conferences and economic releases.
(By Dr. Joe Duarte) Way ahead of the Federal Reserve s intervention and
the central bank s taking an 80% ownership position of insurer AIG
(NYSE: AIG), the stock market had acted like a market that had indeed
had at least a short term encounter with capitulation. The news of the
Fed s action was announced in the early evening on 9-16, and later
confirmed. So what makes us a bit more positive?, Two things, the
number of 42 week lows on the NYSE finally mushroomed to over 1000,
while trading volume finally moved over two billion shares on the
exchange while Nasdaq registered over 3 billion shares changing hands.
That kind of volume, especially on a day where the market opened
significantly lower and staged a nice turnaround, is often a sign that
a tradable bottom is in place. And that many new lows shows that the
sellers finally raised their hands and sold everything and everything,
a real sign of fear and capitulation. To be sure there are no
guarantees in this market, especially when there is always the nagging
fear that there are other shoes that could fall. Goldman Sachs and
Morgan Stanley are doing all that they can to assure the markets of
their own viability, as is Washington Mutual. Of the three players,
WAMU is the one that is likely to become the next one in the potential
bailout sweepstakes. And then of course you have to wonder how many
more times the Fed will come to the rescue of firms in trouble. But
what s important now is to watch what the market does over the next
three to four days. If the 1188 bottom on the S&P 500 holds and the
market can stage a big volume rally within the next few days, we could
see a move higher in the short term. It will also be important to see
if the market can deliver a big day or two with up volume swamping down
volume 9 to 1 on the NYSE and if the NYSE can deliver a two to one
advance decline ratio over a two week period within the next month or
so, if the rally takes hold. Otherwise, this is a good time for
aggressive traders to make a shopping list and start looking for stocks
that are showing exceptional amounts of relative strength. This is no
signal to buy everything in a hurry, but it would be foolish not to
consider the possibility of a moderately bullish scenario arriving in
the intermediate term.
The Investrend Earnings Calendar features Apogee Enterprises (NASDAQ:
APOG), expected at $0.41; Brady Corp. (NYSE: BRC), expected at $0.62;
Comtech Telecom (NASDAQ: CMTL), expected at $0.49; General Mills (NYSE:
GIS), expected at $0.88.
The Investrend Economics Calendar lists Houing Starts & Building
Permits for August (8:30 a.m.), Current Account Balance for July (8:30
a.m.), EIA Petroleum Status Report (10:30 a.m.).
The Investrend Events Calendar showcases ABAX, GCO, RRD, AFCE, HLIT at
CL King and Associates Best Ideas Conference; BMO, ANL, CLP, CSA, EGP,
PKY at BMO Capital Markets North American Real Estate Conference; BPFH,
SOV, CINF, FMR, HCC at RBC Capital Markets Financial Institutions Conf;
BPO, XIN, KIM at Merrill Lynch Global Real Estate Conf; CCK, AGO, COP,
PTV, CXO at Bank of America Securities Annual Investment Conference;
POT, DD, AGU, CF, TRA, PX, APD at Credit Suisse Chemical Conf; PRGN,
TDW, KEX, TBSI, SSW, SFL at Jefferies & Co. Shipping, Logistics &
Offshore Services Conference; VRS at UBS Global Paper & Forest Products
Conference; WIN, Q, EQ, ATVI, FRP, AMT at Goldman Sachs Communacopia
Conference.
The Investrend Money Index is an indicator of the depth of market
direction or indirection. While not always including the same stocks,
the NYSE/NASDAQ 50 Most Actives indicate the direction in which the
mass of money is flowing. Last session's trading showed 31 advancers
versus 19 decliners. Advancers were led by Ml Co Cmn Stk (NYSE: MER) up
30.01%, Delta Air Lines New (NYSE: DAL) up 23.48%, Washington Mutual
(NYSE: WM) up 16.00%, Ual Corp New (NASDAQ: UAUA) up 13.43%, Wells
Fargo & Co New (NYSE: WFC) up 12.68%, Charles Schwab Inc (NASDAQ: SCHW)
up 12.25%, Bk Of America Cp (NYSE: BAC) up 11.30%, Jp Morgan Chase Co
(NYSE: JPM) up 10.11%, Fifth Third Bncp (NASDAQ: FITB) up 9.50%,
Wachovia Cp (NYSE: WB) up 7.47%, Ford Motor Co (NYSE: F) up 6.96%, Us
Bancorp (NYSE: USB) up 6.81%, Hewlett Packard Co (NYSE: HPQ) up 6.79%,
Starbucks Cp (NASDAQ: SBUX) up 6.30%. Decliners followed Constellation
Engy (NYSE: CEG) down 35.90%, Amer Intl Group Inc (NYSE: AIG) down
21.22%, Dell Inc (NASDAQ: DELL) down 11.17%, Morgan Stanley (NYSE: MS)
down 10.84%, Natl City Cp (NYSE: NCC) down 6.54%.
Vote in the Investrend Poll Question of the Day at Investrend
Information (http://www.investrendinformation.com).
Investrend Website of the Day: http://www.funnyordie.com
Quote of the Day: "You got to have smelt a lot of mule manure before
you can sing like a hillbilly." Hank Williams, Sr.
Today is: Constitution Day, Citizenship Day.
Happy Birthday: Wenceslas II, John Rutledge, Hank Williams, Roddy
McDowall, Sir Stirling Moss, Edgar Mitchell, Anne Bancroft, Ken Kesey,
John Ritter, Rita Rudner, Michael Adler, Constantine Maroulis.
Today in History: Peace of Bergerac was signed between Henry III of
France and the Huguenots in 1577. The city of Boston, Massachusetts,
was founded in 1630. The Presidio of San Francisco was founded in New
Spain in 1776. The United States Constitution was signed in
Philadelphia, Pennsylvania, in 1787. Francis Scott Key finished his The
Star-Spangled Banner poem in 1814. National Football League was
organized in Canton, Ohio, in 1920. In 1947, James V. Forrestal was
sworn in as the first Secretary of Defense of United States. Jim
Morrison and The Doors defied CBS censors on The Ed Sullivan Show in
1967. The first episode of M*A*S*H premiered on CBS in 1972. The first
Space Shuttle, Enterprise, was unveiled by NASA in 1976. Vanessa
Williams became in 1983 the first black Miss America. Reggie Jackson
became in 1984 the 13th member of the 500 home run club with a home run
at Anaheim Stadium in Anaheim, California.
[FirstAlert was created by Gayle Essary, founder of Investrend
Communications, Inc., parent of Investrend Information
(http://www.investrendinformation.com). The opinions expressed in
FirstAlert do not necessarily reflect the opinions of Investrend.]
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Copyright ? 2008 M2 Communications Ltd.
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