This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Bears Have Full Plate

NEW YORK (TheStreet) -- Heading into last week, sentiment was wildly bullish after Republicans gained control of the House and the Federal Reserve moved to pump up the U.S. economy.

But stocks ended the week lower on debt fears coming out of the eurozone, rumors China is going to raise interest rates to cool its growing economy, and a weak sales forecast from tech bellwether Cisco (CSCO).

This week bearishness has crept into the TheStreet's latest Bull vs. Bear survey after the Dow Jones Industrial Average and S&P 500 each fell 2.2% last week, and Nasdaq dropped 2.4%.

As of 5 a.m. EST Monday, the poll finds survey-takers who were bearish on stocks with 273 votes, or 45.1%, of the total votes cast while those bullish on stocks tallied 264 votes, or 43.6%. Survey-takers neutral on stocks this week were at 68 votes, or 11.2%.

Poll participants expect the precious metals sector to lead gainers this week, while the commercial banks sector is forecast to lead decliners.

Gold prices tanked on Friday from a combination of technical selling and rumors that China would implement measures to combat rising inflation. Gold for December delivery on Friday settled down $37.80 to $1,365.50 an ounce at the Comex division of the New York Mercantile Exchange. On Monday, gold was up $1.90 to $1,367.40.

Global concerns and the currency trade likely will influence trading this week and overshadow a raft of U.S. economic reports. At last week's G20 meeting, leaders refused to back a U.S. push to make China boost the value of the yuan, keeping alive a dispute that raises fears of a global trade war.

Among economic data scheduled this week are October retail sales Monday and the Consumer Price Index and housing starts Wednesday.

Premarket futures were suggesting U.S. stocks would open lower on Monday.

Asian stocks ended mixed Monday, while European shares at 5 a.m. were falling.

Retailers highlight earnings this week with Wal-Mart (TGT), Target (TGT) and Sears (SHLD) on tap.

Also expected this week is the initial public offering of General Motors, the No. 1 U.S. automaker that emerged from bankruptcy protection in July 2009 and last week posted third-quarter earnings of $2 billion.



> > Bull or Bear? Vote in Our Poll

The poll closes at 9:15 a.m.

Stock quotes in this article: AMZN, DSCM, WMT 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs