TradingMarkets 7 Stocks You Need to Know for Monday

• By David Goodboy
• On 4:25 pm EDT, Friday October 9, 2009

Stocks climbed on this final trading day of the week despite hawkish sentiment from Ben Bernanke. He stated that monetary policy tightening will occur once economic improvement is witnessed. The U.S. Dollar reacted strongly against the Yen with the largest rally in 2 months. A Barclay's computer hardware sector upgrade lifted the prime Dow component, International Business Machines, carrying the index higher on the session. The DJIA surged 78.07, the tech heavy Nasdaq advanced 15.35 and the broad based S&P 500 climbed 6.01.

Here are 7 stocks you need to know for Monday. Find high probability stock trading strategies for stocks such as these in Larry Connors' book, Short Term Trading Strategies That Work.

Discount stock broker innovator, Charles Schwab (NasdaqGS:SCHW - News) reports before the bell on Monday with an expected third quarter 2009 EPS of 18 cents. The Stock PowerRating for SCHW is 5.

Fastenal Company (NasdaqGS:FAST - News) has its eyes set on a fiscal third quarter 2009 EPS of 32 cents prior to trading on Monday. The Stock PowerRating for FAST is 5.

Koninklijke Philips Electronics (NYSE:PHG - News) may be reporting on Monday prior the bell with analysts expecting a fiscal third quarter 2009 EPS of 38 cents. The Stock PowerRating for PHG is 4.

79 cents/share is the forecast figure for Equity Lifestyles Properties (NYSE:ELS - News) fiscal third quarter after the close. The Stock PowerRating for ELS is 4.

Steve Wynn of Wynn Resorts (NasdaqGS:WYNN - News) is bidding to run New York City's first slot machine parlor. The Stock PowerRating for WYNN is 5.

Citigroup (NYSE:C - News) is selling its energy trading business to Occidental Petroleum (NYSE:OXY - News). C and OXY both have Stock PowerRatings of 5.

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