TradingMarkets.com TradingMarkets' 7 Stocks You Need To Know About For Monday Friday September 16, 5:26 pm ET By Brice Wightman Stocks gained ground on this expiration Friday, but were down on the week. The Dow was lifted by two component upgrades: ExxonMobil (NYSE:XOM - News) was upgraded to Buy at Deutsche Bank. Intel (NasdaqNM:INTC - News) was upgraded at CSFB, to Neutral. Also, crude oil prices fell after OPEC said it is considering a production increase; crude is trading near $64. Bush's pledge to rebuild the Gulf Coast after Katrina gave traders optimism about the economy and corporate profits. Consumer confidence plunged after Katrina, to the lowest level since 1992. The University of Michigan consumer sentiment index for September was 76.9 vs. 89.1 in August. It was also the biggest drop since December 1980--larger than the drop after 9/11. The current account deficit narrowed by 1.5% in Q2, but still was the second highest on record. Gold futures hit a 17-year high in overseas trading. The CBOT boosted its IPO range, from $33 - $36 to $45 -$49. The launch date has not been specified, although insiders are looking to October. Now, here are 7 stocks to watch on Monday: Apollo Group (NasdaqNM:APOL - News) is scheduled to report earnings Monday before the open, and estimates are 0.67. The stock has pulled back to the 70.7% Fib level and Friday's bar was on very high volume, which could indicate a short-term bottom. Carnival Cruise Lines (NYSE:CCL - News) is also due to report earnings before the open. Look for $1.35. Notice the positive RSI divergence here. Owens Illinois (NYSE:OI - News) has really tanked recently; the company warned on Friday. I'm showing you this chart again because of the chart pattern. In the candlestick world, this is called a "hammer" and it can signify the end of a downtrend. Keep in mind, though, that the company has asbestos-related issues and faces many lawsuits. Maybe not a long-term keeper, but a possible short-term bounce play. Nike (NYSE:NKE - News) is the last big name to report on Monday before the open. On this one, the consensus is $1.42. Gold has been hot, no question. On this weekly chart of (AMEX:GLD.V - News), you can see some potential resistance at the old highs. The board at executive search firm Heidrick & Struggles (NasdaqNM:HSII - News) OK'd a new $50 million stock buyback program. This stock could quite easily reach the recent highs, which isn't much, you might say, but for daytraders who trade large size, that would be a decent day. Marvell (NasdaqNM:MRVL - News) could also touch the recent highs. Brice Wightman P.S. Thanks for your emails. I answer all of them; feel free to write. Read trader blogs at www.tradingmarkets.com
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