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January Barometer
By: Kirk Report   Wednesday, January 02, 2008 10:23 AM

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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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The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.
  
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