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Seeking Alpha

Monday, September 09, 2013

This Week: Selling Syria

buy sell
Congress is back in session this week, and just in time to take on the President’s proposal to use measured force against the Assad regime in Syria. The Senate is scheduled to vote on the issue Wednesday, but the President will be selling his plan to the American people Monday night in recorded interviews with each of the major networks’ news anchors. Then on Tuesday, he will address the nation directly on the issue. It appears this is a necessary step, if Congress is to vote in favor of force, a very unpopular action with a great many Americans. Otherwise this week, Apple (Nasdaq: AAPL) unveils its iPhone5S on Tuesday, giving the company an opportunity to reignite energy among Apple users and shareholders. On Thursday, Dell (Nasdaq: DELL) shareholders vote on Michael Dell’s plan to take the company private, just as shareholder activist Carl Icahn steps aside. The SEC will be taking up the issue of the recent Nasdaq blackout with the heads of the major exchanges. Finally, this week obviously includes September 11 and the annual somber memorial services and the security tension that comes with it.

Index ETF
Week Ending Sept. 6
Year-to-Date
SPDR S&P 500 (NYSE: SPY)
+1.5%
+16.8%
SPDR Dow Jones (NYSE: DIA)
+0.8%
+14.2%
PowerShares QQQ (Nasdaq: QQQ)
+1.9%
+18.5%

Stocks had a good week last week, even after all the discussion about Syria and another mixed review of the Employment Report. This week, a still hopeful market will place its bet on every rumor regarding the possibility of inaction against Syria, and then face reality as we near the close of the period, in this columnist’s opinion. That is because the idea of placing Syria’s chemical weapons in Russian hands, were it to acknowledge having them in the first place, reminds me of the failed and flawed Russian effort to have Iran’s nuclear program placed under its control. The plan is too full of holes, and frankly, it surprises me that the media is even entertaining the possibility of this occurring. The more I watch pundits and media discuss topics, the more I am reminded of a chicken I once watched run around without its head after being slaughtered. But the fools and the foolish open up opportunities for the discerning, and so we welcome their ignorance.

Economic Events

THIS WEEK’S ECONOMIC REPORT SCHEDULE
Economic Data Point
Prior
Expected
MONDAY




112.8
113.54
$13.8 B
$12.3 B
TUESDAY


94.1
95.0
-0.6%

-Year-to-Year Pace
+1.8%

+4.7%

3.936 M
3.9275 M
4.87

WEDNESDAY


Wholesale Trade (Inventory)
-0.2%
+0.3%
-Sales
+0.4%

+1.3%



-Crude Oil Inventory
-1.8 M

-Gasoline Inventory
-1.8 M

THURSDAY


-0.1%
+0.1%
-Exports
+0.2%
+0.5%
-32.3

323 K
330 K
+58 Bcf

-$97.6 B

FRIDAY


+0.2%
+0.5%
-Less Autos & Gas
+0.4%
+0.3%
+0.0%
+0.2%
-Core PPI
+0.1%
+0.1%
82.1
82.0
+0.0%
+0.3%
-Sales
+0.2%


The economic schedule is backend heavy on the week, with monthly retail sales ominously waiting for the close of the period. Though, economists are looking for a decent uptick in sales less auto and gasoline. Recent indications have offered evidence of something else, so a negative surprise could be in the works.

The period includes several more employment data points, which despite last week’s heavy hitters on the subject, will carry weight. Weekly jobless claims continue to ease, and the week’s reports on general employment trends and job openings are expected to be favorable.

The mood of small businessmen has taken a while to turn, but it has been improving over time. It is expected to do so again this month, despite the onset of new healthcare costs for many small businesses.

Consumer sentiment gets a look-see this week, and there’s no arguing that consumers have taken a breather over the last month or two. Some pundits will point toward the many new electronic goods that are being introduced now as key catalysts to reignite consumer spending, and they might be right.

Corporate Events

We are looking toward Q3 now, but several companies still have to report for the last quarter. Among them are some important homebuilders, restaurants, food producers and retailers.

HIGHLIGHTED EPS REPORTS
Company
Ticker
MONDAY

Hovnanian
NYSE: HOV
Hi-Tech Pharmacal
Nasdaq: HITK
John Wiley & Sons
NYSE: JWA
General Finance
Nasdaq: GFN
Streamline Health Solutions
Nasdaq: STRM
L&L Energy
Nasdaq: LLEN
PVH Corp.
NYSE: PVH
Palo Alto Networks
Nasdaq: PANW
Pep Boys
NYSE: PBY
Majesco Entertainment
Nasdaq: COOL
Investors Real Estate Trust
Nasdaq: IRET
Five Below
Nasdaq: FIVE
Peregrine Pharmaceuticals
Nasdaq: PPHM
Flow International
Nasdaq: FLOW
HD Supply Holdings
Nasdaq: HDS
TUESDAY

McDonald’s
NYSE: MCD
Christopher & Banks
NYSE: CBK
AEP Industries
Nasdaq: AEPI
Triangle Petroleum
Nasdaq: TPLM
Lannett Company
NYSE: LCI
Oxford Industries
NYSE: OXM
Unilife
Nasdaq: UNIS
Coldwater Creek
Nasdaq: CWTR
Restoration Hardware
NYSE: RH
Miller Energy Resources
NYSE: MILL
WEDNESDAY

Men’s Wearhouse
NYSE: MW
Evolution Petroleum
NYSE: EPM
Vera Bradley
Nasdaq: VRA
THURSDAY

RF Industries
Nasdaq: RFIL
Brady
NYSE: BRC
Progressive
NYSE: PGR
NetSol Technologies
Nasdaq: NTWK
Kroger
NYSE: KR
TRC Companies
NYSE: TRR
Point360
Nasdaq: PTSX
Lakeland Industries
Nasdaq: LAKE
Marrone Bio Innovations
Nasdaq: MBII
Analogic
Nasdaq: ALOG
Cherokee
Nasdaq: CHKE
Ulta Salon
Nasdaq: ULTA
Crossroads Systems
Nasdaq: CRDS
United Natural Foods
Nasdaq: UNFI
LifeVantage
Nasdaq: LFVN
FRIDAY

Ocean Power Technologies
Nasdaq: OPTT
Comarco
Nasdaq: CMRO

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Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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