I still have my position to the upside open in Cisco (CSCO) and it looks like it's finally gaining traction to the upside. It has a very strong history of trending up going into November earnings. They report on November 13th. I think it would be wise to pull out by this coming Thursday, though, given that Nonfarm Payrolls report Friday. Why? Well...
Nonfarm Payrolls report Friday, November 8th. This will be a good indicator of the overall health of the job market, which plays a key role in the Fed's tapering plans. If the Nonfarm payrolls are flat, a little good, or a little bad, stocks should continue upward. If they are really good it means the job market is really good, and the Fed may speed up their tapering plans, so the market will drop. If they are really bad this means the job market is really bad, which means the overall economy sucks, so the market will drop.
In earnings news, some good reports are coming out next week. Disney and Whole Foods report next week. These are two stocks that the analysts love to beat up when they report earnings. One can almost expect there to be a post-earnings pullback on both of these stocks, followed by a rise once the pullback ends. Wait for the drop to end, then buy on the pullback.
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