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Two Ways To Play: Don't Hang Up On Nokia


Strengthen your portfolio in good times and bad.


Tough Third Quarter For Nokia

Nokia (NOK) reported a 30% slump in third-quarter profits. According to Bloomberg, the world's largest mobile phone maker said net income fell to $1.46 billion, or $0.29 a share, while sales dropped 5.1% to a little over $16 billion.

Year-to-date, Nokia's stock has lost nearly 60% on concerns consumers will delay replacing handsets during the economic slowdown. But shares were picking up steam before the opening bell after the company said it could regain market share after losing ground for the past 3 months. For context, see Scott Reeve's recent column, Microsoft Battles Google, Nokia For Cell-Phone Supremacy.

From the Bull Pen: Nokia may have seen a bottom and shares could approach the $20 level in the near future. Bulls can place sell stops below $15. Another attractive stock at these prices could be Apple (AAPL). Watch to see if it makes a lower low (above $85).

From the Bear Cave: Bears can consider a downside play in Qualcomm (QCOM). See the massive overhead resistance at $45. If and when.

Quick Check Around the World

Asian trading closed with the Hang Seng -4.80%, Nikkei -11.40%, Sensex -2.11%, Taiwan -3.25%, Shanghai -4.20% and ASK 200 -6.67%.

Glancing across the pond, we see the CAC -3.79%, DAX -2.55%, FTSE -3.08%

As of 8:20 a.m. EST, S&P Futures are trading +9.3 to 912, and Nasdaq futures are +3 to 1232.

A Look At Commodities

Crude oil is trading -1.22 to 73.37. Gold is -4 to 835. Silver is -0.180 to 10.00, and copper is -9.55 to 212.80.

The dollar index is +0.106 to 82.150.

On the Radar


08:30 Core CPI (Sep)
08:30 CPI (Sep)
08:30 Initial Claims (10/11)
09:00 Net Foreign Purchases (Aug)
09:15 Capacity Utilization (Sep)
09:15 Industrial Production (Sep)
10:00 Philadelphia Fed (Oct)

Click here for the full trading radar.

Good luck today!

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No positions in stocks mentioned.

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