Weekend Update, Random Thoughts & Looking to Next Week
I've had a pretty busy weekend. In fact, I didn't get to look at a single chart up until about an hour ago. I'm in the process of preparing to move, figuring out furniture, and hanging out with some friends I won't be seeing as often.
Next week looks to be pretty tame in terms of economic data and earnings season has tailed off a bit.
Volume could dry up this week as a result. We also have the Memorial day weekend coming up, which may exacerbate that and put the markets into summer mode.
Wednesday's FOMC minutes will probably be the most watched and emotion driven even of the week. I'm fairly confident that the street is looking for evidence that the Fed is done cutting for a while, as people are becoming more concerned with inflation (now and down the road).
Some stocks I'm keeping an eye on for the next week (basic theme here is stocks still reasonably close to their bases or yet to break out in strong/strengthening sectors):
- Solars: LDK, YGE, STP, SPWR
- Coal: ACI, RRC
- Hotels: WYNN, LVS
- Energy: CRK, SGY, SLB
- Agriculture: The entire sector could be ready to play catch up to the rest of the commodities, but I like IPI in particular
- Celluar: VIP
- Engineering: MDR (inverse H&S here, starting last ~October?)
- Medical: CMED, ISRG
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