Wall Street Addict

Wall Street sank for a second straight session Tuesday after Federal Reserve Chairman Ben Bernanke said the slumping housing market remains a "significant drag" on the economy.
Bernanke's speech Monday night in New York elevated concerns that the summer's credit tightness might persist into the winter -- a sobering thought for investors, who are sifting through mixed third-quarter earnings and watching energy costs rise.
"First of all, the worry is we're getting more bad news on housing. No. 2 is higher oil prices. That's a pretty bad combination," said Hugh Johnson, chief investment officer of Johnson Illington Advisors.
Crude oil prices spiked to another record above $88, and a National Association of Home Builders' index that tracks developers' expectations of future home sales fell for the eighth consecutive month to the lowest point since January 1985. Also Tuesday, Treasury Secretary Henry Paulson echoed Bernanke's concerns, saying housing is a significant risk to the economy.
The uncertainty on Wall Street about the economic outlook "comes at a time when earnings results are not particularly exciting -- in fact, are dismal," Johnson said.
The Dow Jones industrial average fell 71.86, or 0.51 percent, to 13,912.94, after falling more than 100 points earlier in the session.
Broader indicators also declined. The Standard & Poor's 500 index slid 10.18, or 0.66 percent, to 1,538.53, and the Nasdaq composite index dipped 16.14, or 0.58 percent, to 2,763.91. The Russell 2000 Index of smaller companies fell 6.01, or 0.72 percent, to 823.35.
Source: Madlen Read, AP Business Writer

Labels: Ben Bernanke, BSC, C, Crude Oil, INTC, Oil Futures, STT, USB, WFC, YHOO

Here are 7 stocks for traders for Tuesday from TradingMarkets.com:
Genentech (NYSE:DNA - News) beat earnings estimates on Monday after the bell, announcing $0.73 EPS over an expected $0.72 EPS. DNA's PowerRating (for Traders) is 4.
Robbins & Meyers (NYSE:RBN - News) also beat earnings after the close today, with $1.05 EPS versus expectations of $0.84 EPS. RBN's PowerRating (for Traders) is 5.
Johnson & Johnson (NYSE:JNJ - News) reports earnings on Tuesday before the market opens, with analysts looking for $0.99 EPS. JNJ's PowerRating (for Traders) is 6.
KeyCorp (NYSE:KEY - News) announces quarterly results before the bell on Tuesday, with analysts looking for $0.72 EPS. KEY's PowerRating (for Traders) is 5.
When US Bancorp (NYSE:USB - News) reports earnings tomorrow morning, watch for $0.66 EPS. USB's PowerRating (for Traders) is 5.
Analysts are watching for Wells Fargo (NYSE:WFC - News) to report $0.70 EPS on Tuesday before the open. WFC's PowerRating (for Traders) is 6.
Supervalu (NYSE:SVU - News) is looking to report $0.68 EPS before the bell tomorrow. SVU's PowerRating (for Traders) is 5.
Published by TradingMarkets.com

Labels: DNA, Hot Stocks, JNJ, KEY, RBN, SVU, USB, WFC

Here are 7 trading ideas for today. These lists come directly from the TradingMarkets Stock Indicators page and are based upon our latest quantitative research.
Bullish
5+ Consecutive Down Days: These are stocks that have closed down for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that close down for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Sandisk (NasdaqGS:SNDK - News). SNDK's PowerRating (for Traders) is 6.
5+ Consecutive Lower Lows: These are stocks that have made a lower low for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that make lower lows for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Pride International (NYSE:PDE - News). PDE's PowerRating (for Traders) is 6.
2-Period RSI Below 2: These are stocks that have a 2-period RSI reading below 2 and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving with a 2-period RSI reading below 2 have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Stora Enso Oyj (NYSE:SEO - News). SEO's PowerRating (for Traders) is 7.
Bearish
5+ Consecutive Up Days: These are stocks that have closed up for five or more consecutive days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that close up for five or more days have shown negative returns, on average, 1-week later. Historically, these stocks have provided traders with a significant edge.
Cheesecake Factory (NasdaqGS:CAKE - News). CAKE's PowerRating (for Traders) is 4.
5+ Consecutive Higher Highs: These are stocks that have made a higher high for five or more consecutive days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that make higher highs for five or more days have shown negative returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
US Bancorp (NYSE:USB - News). USB's PowerRating (for Traders) is 4.
2-Period RSI Above 98: These are stocks that have a 2-day RSI reading above 98 and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average with a 2-period RSI reading above 98 have shown negative returns, on average, 1-day and 1-week later. Historically, these stocks have provided traders with a significant edge.
Circuit City (NYSE:CC - News). CC's PowerRating (for Traders) is 2.
Stocks Up 10% or More: These are stocks that have gained 10% or more over the past five days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that have gained 10% or more over the past five days have shown negative returns, on average, 1-week later. Historically, these stocks have provided traders with a significant edge.
Aeropostale (NYSE:ARO - News). ARO's PowerRating (for Traders) is 3.
Published by TradingMarkets.com

Labels: ARO, CAKE, CC, Hot Stocks, PDE, SEO, SNDK, USB

Here are 7 trading ideas for today. These lists come directly from the TradingMarkets Stock Indicators page and are based upon our latest quantitative research.
Bullish
5+ Consecutive Down Days: These are stocks that have closed down for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that close down for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Apollo Group (NasdaqGS:APOL - News). APOL's PowerRating (for Traders) is 7.
5+ Consecutive Lower Lows: These are stocks that have made a lower low for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that make lower lows for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Leap Wireless (NasdaqGS:LEAP - News). LEAP's PowerRating (for Traders) is 8.
2-Period RSI Below 2: These are stocks that have a 2-period RSI reading below 2 and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving with a 2-period RSI reading below 2 have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Pride International (NYSE:PDE - News). PDE's PowerRating (for Traders) is 6.
Bearish
5+ Consecutive Up Days: These are stocks that have closed up for five or more consecutive days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that close up for five or more days have shown negative returns, on average, 1-week later. Historically, these stocks have provided traders with a significant edge.
US Bancorp (NYSE:USB - News). USB's PowerRating (for Traders) is 4.
5+ Consecutive Higher Highs: These are stocks that have made a higher high for five or more consecutive days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that make higher highs for five or more days have shown negative returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Jabil Circuit (NYSE:JBL - News). JBL's PowerRating (for Traders) is 3.
2-Period RSI Above 98: These are stocks that have a 2-day RSI reading above 98 and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average with a 2-period RSI reading above 98 have shown negative returns, on average, 1-day and 1-week later. Historically, these stocks have provided traders with a significant edge.
Best Buy (NYSE:BBY - News). BBY's PowerRating (for Traders) is 3.
Stocks Up 10% or More: These are stocks that have gained 10% or more over the past five days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that have gained 10% or more over the past five days have shown negative returns, on average, 1-week later. Historically, these stocks have provided traders with a significant edge.
Bebe Stores (NasdaqGS:BEBE - News). BEBE's PowerRating (for Traders) is 3.
PowerRatings (for Traders) are courtesy of TradingMarkets.com

Labels: APOL, BBY, BEBE, Hot Stocks, JBL, LEAP, PDE, USB