Stocks Headed For Higher Opening -

Today we will have to lay back a bit. The market is poised to rally off some BS inflation numbers. I will try to short into this rally.

http://http//www.rttnews.com/FOREX/usmkt.asp?date=11/14/2007&item=2

11/14/2007 9:07:24 AM Stocks are poised for a higher opening on Wednesday, extending sharp gains seen in the previous session following optimistic inflation data and positive news out of Bear Stearns (BSC). U.S. stocks skyrocketed on Tuesday after Wal-Mart released better than expected third-quarter results and Goldman Sachs (GS) CEO said that the company would not make significant write-downs in the fourth quarter. The news sent the Dow up over 300 points. In today's market, Bear Stearns is expected to give a boost to the markets after the banks CFO said that its leveraged finance business is improving. The investment bank also said that it expects to take a $1.2 billion write-down in the fourth quarter, easing fears that it could be much worse. On the economic front, wholesale prices rose 0.1 percent in October, in line with forecasts, and core prices were unchanged. The tame inflation numbers are expected to send stocks higher at the opening. In other corporate news, Atari (ATAR) could be in focus after the company announced the resignation of its chief executive officer, David Pierce. The company announced that Curtis Solsvig, its chief restructuring officer, would assume the responsibilities of CEO on an interim basis. Separately, the company said it would re-focus its operations on publishing and distribution in North America.DuPont (DD) may also react to its announcement that it is reaffirming its adjusted earnings estimate for the full year at $3.15-$3.20 per share. The company said strong international sales would help to offset the weakness in the domestic market in the fourth quarter. Analysts currently estimate adjusted earnings of $3.19 per share for the year. Meanwhile, La-Z-Boy (LZB) is expected to come under pressure after it reported a second quarter loss of 19 cents per share compared to a profit of 4 cents per share last year. The company said its sales declined to $365.4 million from $414.6 million. Looking forward, the company lowered its full year earnings guidance. On the other hand, Massey Energy (MEE) is likely to gain ground after it said it is increasing its regular quarterly cash dividend by 25 percent to 5 cents per share. Shares of Longs Drug Stores (LDG) could also see some strength after the company announced a $200 million stock buyback program.