The Wrap 10/20/10

{+++}A drop by the dollar and another big batch of better-than-expected earnings announcements helped stocks recover from the prior session’s slide, though some of the stock market’s gain faded into the close. After the close EBAY, ETFC, LRCX, NFLX, STX and XLNX were the most notable names that reported.

Following earnings, STX -0.6%, EBAY is +7.2%, NFLX +6.4% and XLNX -1.9%.

All ten sectors were in positive territory, led by materials (+2.0%), energy (+1.4%) and telecom (+1.4%).

Tomorrow morning before the open, one economic report is scheduled to be released: Initial Claims (Consensus 455K) and the Continuing Claims (Consensus 4400K).

Tomorrow before the open of the many companies scheduled to report, some of the bigger names include: APD, T, CAT, LLY, FCX, GR, HSY, ISLN, MCD, NOK, NTRS, NUE, PCX, PENN, PM, PCP, TZOO, UNP, UPS, and XRX.

The greenback continues to burn so maybe this reversal can grab some legs. The financials bounced today, but I’m not impressed. The next few days will be interesting, but it feels¬† feels like a top might be forming. I have some longs here, but I will have a quick trigger finger if things start to slide. I am wondering if yesterday was a serious shot across the bow or just an aberration. Good luck tomorrow, I will see you in the chat room.

HERE ARE SOME SET UPS FOR THE NEXT FEW DAYS:

HNR
HNR
SRCL
SRCL
GBX
GBX
CTSH
CTSH
MOS
MOS
GPN-SHORT
GPN-SHORT
MEE
MEE
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