So much for the Santa Claus rally in quarterly earnings as the holiday shortened Thanksgiving week came up far short for bullish investors. Stocks continued to drift lower even though economic data released during the week was positive.
The focus remains squarely on Europe. A collapse of the financial system there would have far ranging ramifications including slower growth and a near certain recession in the United States. Until there is a real solution overseas stocks here will struggle to move higher.
Market participants are fixated on the problems of the moment. The lack of hope is fairly stunning and some might say a strong contrarian indicator for higher prices. We are staring at finishing the year in the red.
Will the man in red come otherwise known as Santa come to the rescue?
Rather than wait for his arrival, quarterly earnings predictor traders can focus on companies releasing profit reports in the coming week. When news is released fundamentals matter if only for a brief moment. Accurately projecting results and the subsequent market reaction can be very profitable for earnings traders.
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What stocks will be the big movers this week?
On the following pages are a 5 stocks that should move significantly upon releasing quarterly earnings reports.