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January Barometer
Symbols: ACGY, AKNS, AMD, AMZN, ASTI, BRCM, CNTY, CNX, CROX, CSIQ, CTIC, DEPO, DNDN, DSTI, EMKR, ESLR, FMCN, GRMN, HOKU, INTC, JADE, JASO, MVIS, NLS, PBR, PHH, PWAV, QCOM, RMBS, SNV, SOLF, STP, YHOO
Good morning & happy new year!
We're going to be very busy over the next few days as a number of economic reports are released. Today we have the December ISM, November constructing spending and the FOMC minutes from the last Fed meeting. Tomorrow we have unemployment claims, December factory orders, December vehicle sales, and another all-important jobs report on Friday.
So far premarket futures are slightly positive in anticipation of at least a strong start for 2008. In short, there's hope that positive seasonality will get us off on the right foot. As you know, the first 5 days of January are considered quite important due to the famed January Barometer.
Premarket gainers: AKNS, CSUN, LDK, HOKU, NLS, DEPO, CNX, ACGY, SOLF, HOKU, CSIQ, EMKR, DNDN, CROX, RMBS, ASTI, BRCM, ESLR, DSTI, YHOO, MVIS, STP, AMZN, CTIC, SATS, PBR, FMCN, MELI, PWAV, and JASO.
Premarket losers: SNV, PAY, DISH, JADE, PHH, CNTY, QCOM, AMD, INTC, and GRMN.
My goal over the next three days is to work back into the routine. I really didn't pay much attention to the market in my absence and so I need some time to catch up and get ready for the rest of the month. Earnings season is just around the corner and in my view that will provide a far better read regarding the health of our economy and market than what we've seen over the past few weeks.
Let's make 2008 our best year ever!
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