Feb 22 2011

U.S. market was closed for the President Day, but the Mid East tensions continued to flare.
Libya’s credit rating has been downgraded by Fitch Ratings from BBB-plus to BBB. Fitch
warned that a further downgrade remains likely. S&P on the other hand, downgraded
Bahrain’s sovereign ratings to A-/A-2. Both countries have been flared by unrests, joining
other countries such as Morocco and Yemen.

On the economics front, consumer confidence will be released on Tuesday and the market
expected a rise from 65.6 to 66.0.

Corporate news will come from the last three Dow companies which have been scheduled to
announce their earnings on Tuesday: HD, HPQ, and WMT. HD is seen to report Q4’10 EPS at
$0.17 per share, down from $0.19 per share; HPQ is seen to have recorded net profit of
$1.29 per share in Q1’11, up from prior $1.07; while WMT is seen to have its Q4’11 EPS
edged up $1.31 per share from $11.7 per share. HD will announce first, before market
opens; WMT during the midday, while HPQ after the market closes.

US Economic Calendar
Date Time Report Period Actual Forecast Previous
21-Feb President Day
22-Feb 10:00 AM Consumer confidence Feb 66.0 65.6
23-Feb 10:00 AM Existing home sales Jan 5.22 mln 5.28 mln
24-Feb 8:30 AM Jobless claims 19-Feb 405K 410K
24-Feb 8:30 AM Durable goods orders Jan 2.5% -2.3%
24-Feb 10:00 AM New home sales Jan 300K 329K
25-Feb 8:30 AM GDP Q4 3.2% 3.2%
25-Feb 9:55 AM Consumer sentiment Feb 75.4 75.1
 Feb 22 2011
Stock focus: CVX

CVX
Feb 18th MTD Resistances 99.77 102.15 104.63 108.22 111.73

↑ 1.6% ↑ 3.99% Supports 98.23 95.50 94.97 92.48 90.12

YTD 12-Month Outlook

↑ 8.19% ↑ 36.54%
POSITIVE
Last

$98.72 Strategy Buy dips to $98.23, risk < $90.12, PT @ $111.73

 Feb 22 2011
Stock focus: HPQ

HPQ
Feb 18th MTD Resistances 49.35 50.17 50.64 51.80 54.43

↑ 0.10% ↑ 6.52% Supports 48.14 47.91 47.26 46.76 46.13

YTD 12-Month Outlook

↑ 15.61% ↓ 4.17%
POSITIVE
Last

$48.67 Strategy Buy > $47.26, risk < $46.13, PT @ $51.80

 Feb 22 2011
Stock focus: T

T
Feb 18th MTD Resistances 28.65 29.00 29.41 30.10 30.80

↑ 0.25% ↑ 3.82% Supports 28.00 27.63 27.20 26.94 26.19

YTD 12-Month Outlook

↓ 2.76% ↑ 15.16%
NEUTRAL
Last

$28.57 Strategy Buy > to $27.20, risk < $26.94, PT @ $30.10

Disclaimer: This report is provided for information purposes only. It is not an offer to sell or to buy any
securities. This report has been prepared based on sources believed to be reliable, but there is no
assurance or guarantee regarding its completeness & and accuracy. The author accepts no responsibility or
liability arising from any use of the report.