Monday, November 10, 2003
Issue Contents:
| 08:27 | U.S. Economic Calendar Calendar for the week of November 10 to 14. |
| 08:44 | Paul's Watch List Stock picks for intraday and swing trades. |
| 09:00 | Daily Swing Trade Today's setups. |
| 09:15 | Good Morning What's happening this week? |
| 16:16 | Active Trader Transcript Real time forum log |
Monday, November 10
Earnings Highlights: EP, AIV, AOT, CGC, TDSC, AKVR.OL
- 1:00PM 3-Month Treasury Bill Auction
- 1:00PM 6-Month Treasury Bill Auction
- 1:00PM 3-Year Treasury Bill Auction
Tuesday, November 11
Today is Veteran's Day in the United States, Remembrance Day in Canada. Teresa is out of the office today.
Earnings Highlights: THC, CSC, TJX, IPG, JCP, MAY
- 7:45AM BTM-UBSW Store Sales
- 8:55AM Redbook
Wednesday, November 12
Craig is out of the office today.
Earnings Highlights: AMAT, MDT, FD, PCG, LTR, EMIS
- 7:00AM MBA Purchase Applications
- 1:00PM 4-Week Treasury Bill Auction
- 1:00PM 5-Year Note Auction
Thursday, November 13
Craig is out of the office today.
Earnings Highlights: DELL, WMT, TGT, KSS, SBUX, TIF
- 2:30 AM Chicago Federal Reserve Bank President Michael Moskow takes part in panel on European monetary policy, in Vienna, Austria.
- 8:30AM Jobless Claims
- 8:30AM Import and Export Prices
- 8:30AM International Trade
- 1:00PM 10-Year Treasury Note Auction
- 4:30PM Money Supply
Friday, November 14
Earnings Highlights: WLS, KDE, AERTA, AZ, ALT.MC, ACP
U.S. President George W. Bush hosts Italian President Carlo Ciampi at the White House. Craig is out of the office today.
- 8:30AM Producer Price Index
- 8:30AM Retail Sales
- 8:30AM Philadelphia Federal Reserve Bank President Anthony Santomero speaks at a conference on managing the recovery in uncertain times, in Philadelphia.
- 9:00AM Federal Reserve Chairman Alan Greenspan makes welcoming remarks at the International Research Forum on Monetary Policy, in Washington.
- 9:00AM St. Louis Federal Reserve Bank President William Poole addresses the Association for Investment Management Research, in Tucson, AZ.
- 9:15AM Industrial Production
- 9:45AM Consumer Sentiment
- 2:00PM Richmond Federal Reserve Bank President Alfred Broaddus speaks at the managing the recovery in uncertain times conference hosted by the Philadelphia Fed.
- 7:30PM Federal Reserve Governor Ben Bernanke speaks at the International Research Forum on Monetary Policy, in Washington.
This is Paul's intraday and swing trade watch list for Monday. He will review the setups for the Level 4 Active Traders at around 11AM Eastern.
BUY SCALPS:
- JNPR @ 19.30
SHORT SCALPS:
- DISH @ 36.54
- NXTL @ 23.88
- INTC @ 33.73
Prices above are used as ALERTS to look for intraday entries. If you need additional ideas, don't forget that we have automated Stock Scan Lists as well.
****
Let's update last Thursday's picks.
CSCO Daily: First one on deck is CSCO. It's no surprise that it's backing and filling after that big gap up on earnings. The question now is if the gap on the downside will be filled or not. In this situation, best to trade it intraday off the 10- or 15-minute chart, if you didn't short the break of last Thursday's long-logged doji. As discussed before, while some of these chart patterns are negative, latecomers to the market will be focusing on buying the cheapies, so it is more likely that buyers will come out of CSCO than a stock that is trading at way up there, like SNDK.
MEDI Daily: The buy stop was triggered on Thursday and on the bounce, sellers came out of Friday. The two-day Japanese candlestick pattern is called "Dark Cloud Cover" which is bearish. This is a bounce in a downtrend, a bear flag. The reason we chose it as a buy for for a one or two day bounce on extreme ADX for this symbol and timeframe, since we've seen quite big bounces set up off these conditions. Suggest moving the stop loss up to just below last Thursday's low if you are still in this trade.
SINA Daily: Hits the downside target of the lower edge of the triangle and the 50-day MA. You got what you came for on this one.
MRK Daily: We did not get the chance to move our buy stop up for this one on Friday, and we'll leave it alone now.
QLGC Daily: So far has not passed the test of top, but it hasn't really failed either. Suggest playing this one on the intraday timeframe if you wish to pursue the short side.
SBUX Daily: Hit and run short sale sets up on break of last Friday's low of $32.36. As usual, the plan is to wait a few minutes for the smoke to clear if the number is hit, and then look to buy some NOVEMBER 35 PUTS SQXWG, with an initial stop loss at $33.01.
We will update our trader's watchlist later.
Hope you had a good weekend.
This week, we do not have a lot of economic data until later on, but all eyes will be on the Treasury bill and note auctions, particularly the five and ten-years. On the earnings front, notable tech stocks reporting this week include AMAT and DELL.
And in international news, this are finally starting to heat up in the Saudi kingdom, as terror touches upper class Saudis:
RIYADH (Reuters) - The United States says al Qaeda wants to topple the pro-Western Saudi government and royal family but Riyadh insists the militants who killed at least 17 in a weekend suicide attack will not destabilize the kingdom.
"It is quite clear to me that al Qaeda wants to take down the royal family and the government of Saudi Arabia," U.S. Deputy Secretary of State Richard Armitage told Al Arabiya television, excerpts of which were broadcast on Monday.
Hmm, maybe there is a 1950s-style exit from Iraq that might be set up shortly...
For subscribers, we will be reviewing the major stock indices and interest rates tonight, as this important juncture.
Real time forum log
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