FirstAlert[tm] 11/10: What To Hope For Now

Sun. November 09, 2008; Posted: 11:45 PM

Nov 10, 2008 (financialwire.net via COMTEX) -- HWCC | Quote | Chart | News | PowerRating -- November 10, 2008 (FinancialWire) (by Genevieve Hawkins) Stocks may bounce back from oversold levels this week as bargain hunters return, but details about the global economic summit on November 15 could overturn any good news. The election of Barack Obama last Tuesday wasn't enough to propel weekly gains as a pair of 400-plus point losses led the Dow down 4.1%, while the S&P 500 dropped 3.9% and the Nasdaq sank 4.3%. In the coming week news from Dow behemoth Wal-Mart may help propel gains if consumers continue to flock to the bargain warehouse for necessities. Last week's economic news indicated more clearly that there is a deepening global slowdown, and China's rescue package could potentially cause overseas markets to either crash or rally in response. Data for the coming week include reports on retail sales and weekly jobless benefits, both of which are expected to be extremely poor. Anymore, however, even dismal news can be rewarded with a rally, and relatively good news can lead to a crash. Analyzing the market lately requires a bit of contrarian thinking. A rally might be expected specifically because there is no good reason for one!

The Investrend Earnings Calendar features Abraxas Petroleum (NASDAQ: AXAS), expected at $0.11; Arch Chemical (NYSE: ARJ), expected at $0.5; EV Energy (NASDAQ: EVEP), expected at $1.09; Houston Wire & Cable (NASDAQ: HWCC), expected at $0.36.

The Investrend Economics Calendar lists Treasury auctions 3- and 6-month bills (10:30 a.m.), Treasury auctions 3-year notes (1 p.m.), Early Market Close for Bonds (2 p.m.).

The Investrend Events Calendar showcases IDEV, BCRX, CAST, CRXX, LCAV, MNKD, ATRC at Rodman & Renshaw Annual Global Investment; WFC, LEY, NCC, CYN at SourceMedia Middle Market Commercial Banking Symposium.

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 38 advancers versus 12 decliners. Advancers were led by Nvidia Corp (NASDAQ: NVDA) up 14.44%, Amer Intl Group Inc (NYSE: AIG) up 12.83%, Ishares Tr Ftse Indx (NYSE: FXI) up 12.83%, Ambac Finl Grp Inc (NYSE: ABK) up 9.87%, Liberty Med Int A (NASDAQ: LINTA) up 8.04%, Qualcomm Inc (NASDAQ: QCOM) up 7.90%, Petroleo Brasileiro (NYSE: PBR) up 7.77%, Companhia Vale Ads (NYSE: RIO) up 6.43%, Exxon Mobil Cp (NYSE: XOM) up 6.31%. Decliners followed Genworth Financial (NYSE: GNW) down 43.19%, Delta Petroleum Cp (NASDAQ: DPTR) down 22.07%, Yahoo Inc (NASDAQ: YHOO) down 12.61%, Gen Motors (NYSE: GM) down 9.17%, E*Trade Finl Corp (NASDAQ: ETFC) down 8.56%, Sprint Nxtel Cp (NYSE: S) down 8.42%.

Vote in the Investrend Poll Question of the Day at Investrend Information (http://www.investrendinformation.com).

Investrend Website of the Day: http://www.lightfoot.ca/

Quote of the Day: "If you're going to make rubbish, be the best rubbish in it." Richard Burton

Today is: Forget-Me-Not Day, Toothpaste Day.

Happy Birthday: Martin Luther, Winston Churchill, Claude Rains, Russell Johnson, Richard Burton, Roy Scheider, Greg Lake, Dave Loggins, Sinbad, Brittany Murphy.

Today in History: Henry Morton Stanley located missing explorer and missionary, Dr. David Livingstone in Ujiji, in 1871, near Lake Tanganyika saying "Dr. Livingstone, I presume?" The first national convention of the American Legion was held in 1919 in Minneapolis, Minnesota. Kate Smith, on her weekly radio show, sang Irving Berlin's God Bless America for the first time in 1938. National Educational Television (the predecessor to the Public Broadcasting Service) in the United States debuted the children's television program Sesame Street in 1969. The 729-foot-long freighter SS Edmund Fitzgerald sank in 1975 during a storm on Lake Superior, killing all 29 crew on board.

[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.]

FinancialWire" is a fully independent, proprietary news wire service of Investrend Information (a division of Investrend Communications, Inc.). FinancialWire" news is written by professional journalists, dedicated to pure journalistic standards. FinancialWire" does not receive or accept any compensation from any individual or subject company (or representative thereof) for its news or opinions. All FinancialWire" news is available at http://www.financialwire.net . Please address any inquiries to feedback@financialwire.net .

Free annual reports for companies mentioned in the news are available at http://investrend.ar.wilink.com/?level=279 .

http://www.financialwire.net

For full details for AXAS click here.

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