strongMonday:/strongbr /Economic Construction Spending (-0.9%), ISM (38.0)br /Earnings Shanda (SNDA), Zoltek (ZOLT)br /br /strongTuesday:br //strongEconomic Truck / Autobr /Earnings Beazer (BZH), Sears (SHLD), Solarfun (SOLF), Staples (SPLS), Marvell (MRVL)br /br /strongWednesday:/strongbr /Economic Weekly Crude, ADP (-173K), Productivity (0.9%), ISM Services (42.6), Beige Bookbr /Earnings Del Monte (DLM), Aeropostale (ARO), AeroVironment (AVAV), Casey’s (CASY), Diamond Foods (DMND), Synopsys (SNPS)br /br /strongThursday:/strongbr /Economic Weekly Claims, Factory Orders (-2.7%)br /Earnings Argon (STST), Jackson Hewitt (JTX), Sanderson (SAFM), Movado (MOV), Toll Bros (TOL), UTI World (UTIW), Williams Sonoma (WSM), Comtech (CMTL), Guess (GES), Teekay (TK)br /br /strongFriday:/strongbr /Economic Monthly Jobs (-300K, 6.8%, 0.2%)br /Earnings Big Lots (BIG)div class="blogger-post-footer"http://stockweb.blogspot.com/atom.xml/div pa href="http://feedads.googleadservices.com/~a/f8zvy8N0zqZISa6P6e2WUhDzAco/a"img src="http://feedads.googleadservices.com/~a/f8zvy8N0zqZISa6P6e2WUhDzAco/i" border="0" ismap="true"/img/a/pdiv class="feedflare" a href="http://feedproxy.google.com/~f/Stockweb?a=sbBD6rCt"img src="http://feedproxy.google.com/~f/Stockweb?d=41" border="0"/img/a /div

Insider sales have been out of control during the past few days…cant be a good sign for the market.  Even Sumner Redstone is cashing out of CBS and Viacom, which have been creamed lately:

Track these picks at:

http://trackthepros.com/stocks/category/37

SELLERS:

COMPANY NAME INSIDERS NAME TITLE $ VALUE NO. OF SHARES IN TRANS. RANGE OF VALUES TRANSACTIONS DATES CBS S. Redstone H $120,700,000 17,000,000 7.10 Oct. 10, 2008 Viacom S. Redstone CB 114,450,000 7,000,000 16.35 Oct. 10, 2008 Boston Scientific J. Abele D 87,639,462 11,121,906 7.17-9.13 Oct. 9-10, 2008 Copart B. Rosenstein D 35,150,000...

Harbinger CapitalHarbinger Capital | 13F Hedge Fund HoldingsThis post is being written as part of HedgeFundBlogger.com’s Investment Securities Tool which analyzes the holdings of hedge fund managers.Harbinger Capital is a $13.8 Billion firm ran by Philip Falcone. Taken from StreetInsider, Harbinger is “a disciplined, value investor with an emphasis on intensive credit research. Its focus is on middle market companies that tend to be misunderstood or under-researched by the market. Investment approaches include:Restructuring/Bankruptcy, Turnaround, Liquidation, Event Driven, Capital Structure Arbitrage, Short Sale and Special Situations.” At one point during this year, they were up as much as 42% (more on that below).So, now that we’ve got a background on Harbinger Capital, let’s …

The big bailout will be a key focus of the markets.

Congress is expected to meet over the weekend to discuss legislation proposed by Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson. The details of the proposal, and any additional measures designed to help homeowners struggling with mortgage payments, could impact market direction.

The temporary ban on short selling could also affect trading early in the week. Part of Friday's rally was the result of quadruple witching. Traders are being forced to close short positions rather than roll them over into new contracts.

On the earnings front, we have confirmed reports from 33 companies. Included in this group are S&P 500 members Autozone (AZO), Bed Bath & Beyond (BBBY), Discover Financial (DFS), Jabil Circuit (JBL), KB Home (KBH), Lennar (LEN), McCormick (MKC), Nike (NKE) and Paychex (PAYX). I expect

...

Harbinger Special Situation Fund, run by Philip Falcone, made the following significant buys and sells during the second quarter…

track these buys and those of other pros at:

http://trackthepros.com/

New Positions:

Yahoo

Sprint Nextel

Southern Union

RTI Metals

Peabody Energy

Nisource

Nicor

Media General

Cablevision

Added to Positions

Williams Sonoma

Owens Corning

Cleveland Cliffs

Ashland

Corn Products

Sell Positons

Wachovia Bank (PUTS)

Solutia

Monday:Economic Existing Home Sales (4.94M)Earnings China Netcom (CN), CPI Corp (CPY)Tuesday:Economic Consumer Confidence (53.0), New Home Sales (525,000), FOMC MinutesEarnings American Eagle Outfitters (AEO), Big Lots (BIG), Borders Group (BGP), Daktronics (DAKT), Dycom (DY), J Crew Group (JCG), Rio Tinto (RTP)Wednesday:Economic Weekly Crude, Durable Goods Orders (0.1%)Earnings Dollar Tree (DLTR), Fuelcell Energy (FCEL), Jo-Ann Stores (JAS), Mens Wearhouse (MW), Talbots (TLB), Tivo (TIVO)Thursday:Economic Weekly Claims (427K), GDP (2.7%)Earnings Aruba Networks (ARUN), Del Monte Foods (DLM), Dell (DELL), Dollar Financial (DLLR), Freds (FRED), Gnensco (GCO), Gerber Scientific (GRB), Kirklands (KIRK), Marvell Tech (MRVL), Novell (NOVL), Petsmart (PETS), Sears (S), Tiffany & Co (TIF), Williams Sonoma (WSM), Wind River Systems (WIND)Friday:Economic Personal Income and Outlays (-0.1%), NAPM-Chicago (49.8), Consumer Sentiment (62.0)http://stockweb.blogspot.com/atom.xml

The final week of August will feature earnings reports from S&P 500 members Big Lots (BIG), Dell (DELL), Novell (NOVL), Sears Holding (SHLD) and Tiffany (TIF). Overall, it will be a quiet week for earnings with 77 companies confirmed to report.

The economic schedule is pretty full, led by the minutes from the August Fed meeting. I don't anticipate any surprises from the notes. Other key data will include: Monday: July existing home sales Tuesday: July new home sales, August Conference Board consumer confidence index, August Fed minutes Wednesday: July durable goods orders, weekly crude inventories Thursday: Preliminary second-quarter GDP, weekly initial jobless claims Thursday: July personal income and spending, August Chicago PMI, revised August University of Michigan consumer confidence

The Federal Reserve's web site does not list any upcoming speeches.

The U.S. financial markets will be closed on Monday, Sep 1, in observance of Labor Day. Ahead of

...

MondayEconomic: Construction (-0.6%), ISM (48.0)Earnings: Intrepid Potash (IPI), ABM (ABM), Luluemon (LULU), NCI Bldg (NCS)TuesdayEconomic: Auto/Truck, Factory Orders (0.1%)Earnings: Layne Christensen (LAYN), Toll Bros (TOL), Bob Evans (BOBE), Guess (GES), Hovnanian (HOV), SAIC (SAI)WednesdayEconomic: Weekly Crude, ADP (-30K), Productivity (2.5%), ISM Services (51.0)Earnings: Conns (CONN), Vimpel (VIP), Volt Sciences (VOL), Williams Sonoma (WSM), ADC Telecom (ADCT), Comtech (CMTL), FuelCell (FCEL), Martek (MATK)ThursdayEconomic: Weekly Claims (370K)Earnings: Ciena (CIEN), Del Monte (DLM), UTI Worldwide (UTIW), Cooper (COO), Focus Media (FMCN), Nat Semi (NSM), Quiksilver (ZQK), Take-Two (TTWO)FridayEconomic: Jobs Report (-52K, 5.1%, .2%), Wholesale Inv’s (0.5%)Earnings: N/Ahttp://stockweb.blogspot.com/atom.xml

The stock market paid some attention to negative events on Friday. All of the major stock groups in the S&P were down with Capital Goods, Conglomerates and Financials leading the way lower as subprime worries and a few bad earnings reports from Cat and Google got under the skin of investors.