The Week Ahead For November 4th to 11th: Earnings Continue to Dominate
The NASDAQ 100 was higher for the week as well as the Russell 2000, Dow Jones Industrial Average and S&P 100.
1.Geopolitical and Fiscal Events. Monday sees the Australian Reserve Bank out with its latest interest rate decision. BOJ Minutes out on Tuesday night. Thursday sees The Bank of England out with its latest rate announcement.
2.Economic Releases. Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as Factory Orders, ISM Non-Manufacturing Index and University of Michigan Consumer Sentiment.
3.Earnings Releases. Notable releases this upcoming week include UBER MAR FIS BDX QCOM CVS DIS BKNG ENB DUK.
Monday, November 4
September Factory Orders are due out at 10:00 a.m. EDT and are expected to drop to -0.5% from -0.1%.
Australian Reserve Bank out with its latest decision on Monday night.
Tuesday, November 5
October ISM Non-Manufacturing Index is due out at 10:00 a.m. EDT and came in at 52.6 for September.
The latest minutes from The Bank of Japan (BOJ) are due out Tuesday night.
Wednesday, November 6
Winnebago Industries (WGO) holds their investor day and is a Type 1 Short Squeeze. When short selling is Moderate like it is now, the shorts are squeezed 43.33% of the time losing 39.49%. When shorts are correct, they make 17.35% on average. As such, the odds do not favor those trying to play a short squeeze. Thursday, November 7
The Bank of England concludes their latest meeting with a rate announcement.
Strategic Education (STRA) holds their analyst meeting and is a Type 4 Long Squeeze.
Apollo Global Management (APO) holds their investor day and is a Type 1 Short Squeeze. When short selling is Heavy like it is now, the shorts are squeezed 20% of the time losing 12.8%. When shorts are correct, they make 12.50% on average. As such, the odds do not favor those trying to play a short squeeze.
Friday, November 8
November University of Michigan Consumer Sentiment is due out at 10:00 a.m. EDT and is expected to fall to 95 from 95.5.