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The Week Ahead: One Stock that Looks Solid

October 4, 2008 1:15 pm

From my weekly MSN Money TopStocks article:

Overshadowing the start to earnings season is the continuing slowdown of the world economy. No longer a question of semantics, we are in a general slowdown that has affected virtually every sector. Even with a massive pork-barrel, ear-mark infested $850 billion banking bailout package, job losses coupled with the higher cost of food and fuel has curtailed spending and is expected to continue for the foreseeable future.

Next week is the official open to “earnings season” as Alcoa is slated to report what could be a very weak number as we look at the latest from the materials sector.

Read the full article HERE as there are a few interesting trading ideas explored.

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Written by Andrew Horowitz · Category(s) Earnings, Gameplan, Markets    |  Tags: •   

2 Responses to “The Week Ahead: One Stock that Looks Solid”

  1. Eyal on October 4th, 2008 4:58 pm

    Hi Andrew,

    Although you might be right regarding all of these bad earnings, it might be that they are already “baked in the cake”. I’m looking at technical and it seems like we are going to test the weekly lows on all major indexes so I think that there might be some bounce from the Monday, Tuesday levels ( assuming they will meet the support lines ). I’m not saying that the tide is changing, only that we are due for a small pause in the downside ( since everyone is so bearish !! )

    How do you look at it technically ?

  2. Andrew Horowitz on October 5th, 2008 4:47 pm

    Eyal:

    Throw out the rulebook for the moment. We are trading on legislative action and fear. No technical analysis that I know of will be accurate.

    Sit tight for a few and let the storm of confusion pass

    A

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