Weekly Newsletter February 17th - February 23rd

Current Events:  Last week's relatively stagnant performance in all three major U.S. indexes is largely due to technical resistance as each sits at multi-year highs. It will likely take some extraordinary news to generate investor interest to purchase at these levels. If such a move lift occurs it could spark a motivating rally.

What to Look for This Week

Though most companies have already reported earnings for this quarter some of the largest corporations in the world remain, including Wal-Mart. American International Group (AIG) will likely draw a great deal of press upon earnings on Thursday as the "bailed-out" company continues its attempt to regain support.
News Affecting the Markets

Key decisions on the U.S. budget are likely to occur in the next two weeks as the March 1 deadline approaches for lawmakers. Thus far, the equity markets have seen little impact from this looming piece of legislature; however, with indexes at multi-year highs uncertainty surrounding federal spending cuts can be enough to tip the market south.

Smart Investing

Goal Setting:  Setting goals is not just about achieving success, but experiencing an enriching journey while on the process of acquiring your goal. There is so much to be had when you have set your goals in life. One of which is achieving self-development. Setting goals is a sign of maturity in a person. Clear cut intent will help develop motivation and forces you to practice some of the important values in life like determination, perseverance and discipline. Setting a goal will also give you a clear road map on which direction and will enhance your self-esteem as you know what you want to achieve and how to get there. Even though there is no guarantee that you will achieve every goal, what matters most is the growing process that you will experience even as making that journey that will enable you to take on similar or even better opportunities.

Earnings for the Week

Monday: Hertz Global Holdings Inc (HTZ), Stillwater Mining Co (SWC)

Tuesday:  Marriott International Inc (MAR) {After the Close}, Medtronic Inc (MDT), Nabors Industries Ltd (NBR) {After the Close}, Omnicare Inc (OCR), Sealed Air Corp (SEE), Terex Corp (TEX), Windstream Corp (WIN)

Wednesday: Boyd Gaming Corp (BYD), Devon Energy Corp (DVN), DISH Network Corp (DISH), Eaton Vance Corp (EV), Energy Transfer Partners LP (ETP) {After the Close}, Fluor Corp (FLR) {After the Close}, Forest Oil Corp (FST) {After the Close}, Goodrich Petroleum Corp (GDP) {After the Close}, MGM Resorts International (MGM), Newfield Exploration Co (NFX), Owens Corning (OC), Questar Corp (STR) {After the Close}, Sodastream International Ltd (SODA), Toll Brothers Inc (TOL), Walter Energy Inc (WLT) {After the Close}, Williams Companies Inc (WMB) {After the Close}

Thursday:  American International Group Inc (AIG) {After the Close}, Cabot Oil & Gas Corp (COG) {After the Close}, Chesapeake Energy Corp (CHK), Community Health Systems Inc (CYH) {After the Close}, Ensco PLC (ESV), Hormel Foods Corp (HRL), Host Hotels & Resorts Inc (HST), Newmont Mining Corp (NEM) {After the Close}, Nordstrom Inc (JWN) {After the Close}, OfficeMax Inc (OMX), PG&E Corp (PCG), Plains Exploration & Production Co (PXP), Reliance Steel and Aluminum Co (RS), Safeway Inc (SWY), Southwestern Energy Co (SWN), Wal-Mart Stores Inc (WMT)

Friday:  Abercrombie & Fitch Co (ANF)

* Earnings dates and times are subject to change

Economic Data this Week

Monday
No announcements scheduled.

Tuesday

NAHB Housing Market Index @ 10:00 AM for February (Est. = 48, Prior = 47)

Wednesday

MBA Mortgage Index @ 7:00 AM for 02/16 (Est. = n/a, Prior = -6.4%)
Housing Starts @ 8:30 AM for January (Est. = 900K to 910K, Prior = 954K)
Building Permits @ 8:30 AM for January (Est. = 915K to 918K, Prior = 903K)
PPI @ 8:30 AM for January (Est. = 0.1% to 0.3%, Prior = -0.2%)
FOMC Minutes @ 2:00 PM for 01/30

Thursday

Initial Claims @ 8:30 AM for 02/09 (Est. = 358K to 365K, Prior = 341K)
Continuing Claims @ 8:30 AM for 02/02 (Est. = 3150K to 3200K, Prior = 3114K)
CPI @ 8:30 AM for January (Est. = 0.1%, Prior = 0.0%)
Existing Home Sales @ 10:00 AM for January (Est. = 4.94M to 4.95M, Prior = 4.94M)
Philadelphia Fed @ 10:00 AM for February (Est. = 1.5 to 2.0, Prior = -5.8)
Natural Gas Inventories @ 10:30 AM for 02/16 (Est. = n/a, Prior = -157)
Crude Inventories @ 11:00 AM for 02/16 (Est. = n/a, Prior = 0.560M)