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Searching For Positive Catalysts
By: Kirk Report   Monday, June 16, 2008 9:57 AM

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Good morning. Premarket futures have a slight negative bias this morning.

To start out the new week, investors are looking through Lehman Brothers' (LEH) second quarter results, reacting to a leadership change at AIG, and a downgrade of GE. In addition, oil is still up despite chatter that Saudi Arabia will boost production by 500,000 barrels a day and the first economic datapoint this week - Empire State Manufacturing Survey - came in weaker than expected.

Premarket gainers: ASMI, NVGN, TITN, XMSR, ALKS, SIRI, BCS, RAME, TEVA, YRCW, CF, AGU, AW, CPST, SPWR, NXY, ZMH, ABX, GOLD, SRVY, CY, AIG, PQ, GME, & LEH.

Premarket losers: ACAD, CDS, QGEN, DSCO, GE, TXT, FITB, ITW, & YHOO.

After the open, Bernanke will speak about health care reform at 10:AM and Jeffrey Lacker will talk about the economic outlook at 1:PM. In addition, the housing market index from the National Association of Home Builders will be released at 1:PM.

We saw an oversold bounce at the end of last week, but traders will need to have some positive catalysts (i.e. better economic data & lower oil prices) to work with for that oversold bounce to be sustained. Let's make it a great week!


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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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