I though I'd save myself some time, and have an open house Friday. Below is the commentary and the entire watchlist that we'll be watching.
Welcome!!
September 1, 2000
Everyone have a wonderful Labor Day holiday, September 4th, and stay safe.
Chain Store Sales and Factory Orders came in weaker than expected. Internet sales continue to climb, reaching 5.5 billion during the second quarter, still only 0.68% of total retail sales.
The four week moving average of weekly Jobless Claims is at its highest level since January 1999.
August's Employment data is released at 8:30 AM ET. Economist see unemployment remaining at 4%. An even higher rate is possible, 4.1 to 4.2%, which would lead the market into thinking we have seen the last interest rate increase this year. On the other hand, since the market has about decided that employment is not leading to inflation, I don't think a 3.9% would spark much of a fall. I'm favoring 4.1%.
Other releases today, most at 10:00 AM ET, include the ECRI Future Inflation Index for August, Construction Spending for July, and the National Association of Purchasing Managers Index for August. There isn't any market moving releases scheduled for Monday or Tuesday.
WIND beat expectations by 3 cents, reporting 10 cents compared to the First Call estimate of 7.
No earnings expected today or Monday.
The market internals improved significantly Thursday. The stock screening still produced a surprising high number of short candidates, about the same number as longs, despite the good market rally. And picking longs, that were not too extended, was pretty tough.
Below is the watchlist for September 1. The alert price is the last daily high of the stock. This alerts us to the potential movement of the stock. It does not confirm the trend until it has risen a couple ticks above that price. For more information see the Strategies link. Double click on the symbol to view a current graph.
Good Trading!!!
Category 1
Higher Volatility
Symbol Alert Price
ACTU 26.06
CHINA 18.50
GILTF 80.88
LNCR 25.63
MYPT 13.63
NXTP 30.50
TGNT 17.44
VATA 25.13
VOD 41.25
VYTL 14.25
Category 3
Lower Volatility
Symbol Alert Price
AINN 23.50
CCMP 59.31
DTHK 34.75
LDIG 25.00
MONE 35.25
SCIO 10.19
UPCOY 24.50
UTSI 24.00
VICL 24.88
VRGE 13.88
Shorts
Higher Volatility
Symbol Alert Price
CAMP 41.13
ECIL 31.25
EFII 25.00
FCOM 30.88
ITXC 19.50
PRIA 51.63
TLB 65.75
Everyone have a nice weekend!
Sam
savvy-trader.com |
