Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Week in Review: May 16, 2008


A look back at the week that was.


Market Recap

The SPX was able to surpass the important 1405 level this week led by select technology, commodity-driven names, and transports. The SPX ran into overhead resistance at the 1425 level which corresponds to converging horizontal and upward sloping resistance. I feel this rally is now getting "heavy" and investors need to exercise discipline. The financial complex needs to improve in order for market sentiment to improve.

I mentioned a few weeks back that the commodity sell-off would be short-lived. Given the rally we've seen in oil and the precious metals, I continue to feel that pullbacks should be bought.

The Four Sisters Performance

ETF Watch

Click to enlarge

Top Headlines

  • Dow component Hewlett-Packard (HPQ) agreed to buy Electronic Data Systems (EDS) for $13.9 billion dollars. (5/13)

  • Billionaire investor Carl Icahn is taking an activist stake in Yahoo (YHOO) saying the company acted irrationally in rejecting Microsoft's (MSFT) $33/share offer. (5/16)

  • Wednesday's government report showed a slight rise in consumer prices for the month of April, a sign of stabilization after sharp gains earlier in the year. (5/14)

  • General Electric (GE) announced its intentions to exit the appliance business. (5/16)

  • Oil prices continue to climb despite Saudi attempt to boost production by 300,000 barrels per day. Prices are expected to rise at the pump soon. (5/16)

Earnings Snapshot

  • The world's largest manufacturer of farm machinery, Deere (DE), reported a jump in quarterly profit, but warned of cost pressures in coming quarters. (5/14)

  • Canadian Solar (CSIQ) jumped over 20% as the Chinese solar cell maker doubled Wall Street's expectations and raised guidance. (5/13)

  • Research in Motion (RIMM) will launch its answer to Apple's (AAPL) i-Phone in the third quarter of this year. The new handset is named the Thunder. (5/15)

Market Movers: Winners & Sinners

< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely= reflects the analysis of or opinion about the performance of securities an= d financial markets by the writers whose articles appear on the site. The v= iews expressed by the writers are not necessarily the views of Minyanville = Media, Inc. or members of its management. Nothing contained on the website = is intended to constitute a recommendation or advice addressed to an indivi= dual investor or category of investors to purchase, sell or hold any securi= ty, or to take any action with respect to the prospective movement of the s= ecurities markets or to solicit the purchase or sale of any security. Any i= nvestment decisions must be made by the reader either individually or in co= nsultation with his or her investment professional. Minyanville writers and= staff may trade or hold positions in securities that are discussed in arti= cles appearing on the website. Writers of articles are required to disclose= whether they have a position in any stock or fund discussed in an article,= but are not permitted to disclose the size or direction of the position. N= othing on this website is intended to solicit business of any kind for a wr= iter's business or fund. Minyanville management and staff as well as co= ntributing writers will not respond to emails or other communications reque= sting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.



Featured Videos