Pre-market Open News & Links For Friday

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Millionaire Now! by Larry Nusbaum

This blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth".

Pre-market Open News & Links For Friday

Posted on 05/09/2008 08:42:16 | Link | Post Comment

U.S. stock futures drop after AIG's $7.8 billion loss

"S&P 500 futures fell 7 points to 1,385.00 and Nasdaq 100 futures fell 9.25 points to 1,955.75. Dow industrial futures dropped 81 points."

PRE-MARKET -

Gapping up: PCLN +14.3%, GSIT +12.5%, RNWK +11.1%, INT +9.1%, DAR +8.8%, BSQR +7.2%, NAT +6.7%, QSFT +6.7%, POM +5.8%, DROOY +5.8%, LUNA +5.3%, TRLG +5.0%, GUID +4.6%, RICK +4.2%, TBSI +4.1%, ATVI +3.4%, FSLR +2.6%, GM +2.6%, SONS +2.6%, AUY +1.8%, COH +1.4%... Gapping down: NGAS -11.0%, AGO -9.4%, MGI -8.9%, AIG -7.4%, BRKS -7.3%, SWC -4.9%, FMD -4.6%, MYL -4.1%, PEC -3.4%, ICFI -3.1%, NOK -2.9%, NVDA -2.8%, HBC -2.2%, MT -2.1%, C -1.9%, YHOO -1.6%, FNM -1.0%. Courtesy of Briefing.com

Gold for June delivery rose $10.90 to end at $882.10 an ounce on the New York Mercantile Exchange. Graphic: Timeline of gold's march to $1000. July silver was higher overnight as it consolidates above the 10-day moving average crossing at 16.731. Stochastics and the RSI are bullish signaling that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 17.212 are needed to confirm that a short- term low has been posted. If July renews this spring's decline, the 62% retracement level crossing at 15.352 is the next downside target. First resistance is the overnight high crossing at 17.135. Second resistance is the 20-day moving average crossing at 17.212. First support is Thursday's low crossing at 16.510. Second support is last week's low crossing at 16.055.

Weak action in the influential areas including the Retail ($RLX -1.86%) which pulled back to a close near its 50-day moving average (DMA) line, despite the small gain today from giant Wal-Mart Stores Inc (WMT +0.58%), Bank ($BKX -1.51%), and Broker/Dealer ($XBD -1.35%) indexes limited the major averages' ability to make headway on Thursday. Big gains from the Gold & Silver ($XAU +4.20%) and Oil Services ($OSX +3.32%) indexes led the way, with the Integrated Oil Index ($XOI +0.93%) posting a more modest gain. The tech sector was led by the Internet Index ($DOT +0.86%), followed by modest gains from the Semiconductor ($SOX +0.57%) and Networking ($NWX +0.43%) indexes. The Healthcare ($HMO +0.58%) group notched a small gain while the Biotechnology Index ($BTK +0.03%) ended flat.

Fred Hickey's latest newsletter. He's seriously bearish. One major point: The Labor Department's April monthly survey of employment actually tallied to a loss of 287,000 jobs but the BLS (Bureau of Lies and Shenanigans). But BLS's computer model simply added 267,000. That came up with a net 20,000 loss, which everybody on BubbleVision raved about. It showed a much better economy.

Hickey's strategy "rebuild his precious metals positions on dips and rebuild tech stock put options. Targets for put options include Texas Instruments, Intel, SAP, Google, RIMM, Amazon, SanDisk, NetLogic Microsystems, ASML, KLA-Tencor, Lam Research and "others than my overpriced and vulnerable."

From 24/7 Wall St.:

From Trading Markets:

From MarketWatch:

Upgrades / Downgrades / Initiations for today
Stocks in focus for Friday
Thursday's biggest stock gainers and decliners

Wall Street Breakfast - What you need to know in early trading today.

Earnings Surprises Up & Down from zacks

The Trend Trader for Friday from Barchart.com

Allianz Fund Loves Underloved Stocks from IBD - There were 41 high-ranked companies from the CANSLIM.net Leaders List that made new 52-week highs and appeared on the CANSLIM.net BreakOuts Page - {sign up is free}

The public will believe anything, so long as it is not founded on truth. – Dame Edith Sitwell (1887 – 1964)

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