Sunday, September 9, 2007

Pre-Market Report

What will trading on Monday, September 10th be like? It's not certain, but lots of indicators are pointing to another day of selling. Asian markets were down during their sessions, and the market could likely keep reacting to the unfortunate economic news from Friday. Plus, there is now speculation that the Fed may not cut rates during its meeting this month, because of fears of uncontrollable inflation.

I think it's going to be a wild day. But, who knows, the indexes might end up flat for the day. Some stocks I'm personally going to be watching:

Apple (AAPL), still reeling from the negative opinions stemming from its price cuts and new product line, has lost almost 10% of its share value over the last few days of trading. I think it will continue slipping today, but it also might hit a bottom.

Countrywide (CFC) announced on Friday that it will be cutting approximately another 12,000 jobs.

Homebuilders (in particular, I own Hovnanian (HOV). As a sector, they posted major losses on friday, mostly because of the weak economic data. A rate cut could really help homebuilders, so if speculation is positive (or an early rate cut occurs) they could move significantly.

That's all for now; check back later for daily post-close wrapups every day, plus insight into the market and individual companies. Subscribe to my blog, or just bookmark it!

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