Tuesday, November 4, 2008

The Kirk Report

The Kirk Report

Member Mailbag

Posted: 04 Nov 2008 01:22 PM CST

For this week's mailbag, I will cover the following:

  • Screening For Free Cash Flow

  • Using The NYSE McClellan Index As An Oversold/Overbought Indicator

  • Knowing When To Trade For A Living

  • What I Recommend Buying Right Now

  • The Importance Of Looking For Tells Following A Future Catalyst

  • Oversold Counter-Trend Situations

  • How To Determine Retracements vs. Trend Changes

  • Using Historical Comparisons

  • Positioning For A Rebound In Oil

  • Separating Price & Value

  • A Simple Method To Avoid Information Overload

  • Screening For Positive EPS Surprises & Revisions

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Election Day

Posted: 04 Nov 2008 08:30 AM CST

Good morning. As Americans head to the polls on this important election day, premarket futures are in positive territory.

Much like yesterday, the newswires are relatively quiet and focused more on the election than anything else. However, at least part of the positive bias we're seeing follows strength in overseas markets, some strong earnings from MasterCard and ADM, and news that Uncle Sam is considering purchasing stakes in more firms.

Premarket gainers: CIT, ESLR, STEM, AKRX, AMLN, AFN, OSIR, ADM, AEG, CROX, HIG, AIG, JASO, SOLF, CSIQ, FSLR, PHM, LMC, BKE, STEM, FRO, ARMH, ISIS, CSUN, GERN, SOL, BUCY, LDK, YGE, MA, APWR, & NOK.

Premarket losers: MHK, HLF, FCSX, NNBR, OTTR, RCRC, GHM, CKXE, RACK, RBS, TRID, NXG, MVL, AEE, NSANY, & PPO.

At the 10:AM the report on Factory Orders will come out and 45 minutes later Dallas Federal Reserve Bank President Richard Fisher is scheduled to speak about the economy in Texas.

For the most part, the market will take a back seat to the election. Conventional wisdom suggests that that no matter who wins tonight that an element of uncertainty is removed from the markets and that alone is a good thing. No doubt, Bush was an unpopular President and the mere fact that someone is going to replace him soon will help lift spirits of many even though the next President will certainly face a short honeymoon period given the current state of the economy.

Have a great day and be sure to go out and vote!

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