There still isn’t any confidence that we’ve already hit a market bottom. Even with a possible market shake-out still ahead and a horrible jobs number on Friday, Wall Street is leaning towards a positive week. What do the professional traders of TraderInsight.com think?

Here’s the list of 4 stocks our professional traders will be watching this week:

Autozone (AZO), Advance Auto Parts (AAP), Agnico Eagle Mines (AEM), Anglogold (AU)

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Adrian Manz, Stock Day Trader

October wrapped up badly for the broader markets. Even the 11% rally in the Dow this past week cannot take the edge off its 14% decline in October and near 30% tumble year-to-date. As I stated here last week, the markets are clearly forward looking, and news events may be able to rock the financial world in the short term, but the bigger picture is only going to become positive when fund managers perceive value and bargain prices. That does not yet seem to be the case, as money has only flowed into stocks going into the closing hours of each session, indicating an unwillingness of managers to climb out on the proverbial limb, choosing to wait for the sustainable conviction of others to lead them to the market, rather than making the decision themselves. We will definitely know when value is the broader construct, as it will certainly not last long. Funds are not known for their ability to tiptoe through the markets. And when they decide it is time to buy, the expansion of range, price and volume across stocks and indices will be dramatic.

As traders, we can of course capitalize on the current volatility by seizing the solid opportunities and passing on the noise created when markets are in turmoil. The VIX seems to be reverting to the mean, and volume is nothing to cheer about, but I think potential entries will continue to generate in the sectors that are closely correlated to the economy. The Retail Sector ($RLX.X) will always draw strength from the Federal Reserve easing interest rates. This week was no exception and I will look to the strongest names in the sector for possible long-side entries on additional strength in the coming week. Autozone (AZO) and Advance Auto Parts (AAP) are my most likely candidates here, and I will be watching the stocks closely for long-side opportunities this week. On the short side of the market, Gold ($XAU.X) continues to show signs of fatigue. Agnico Eagle Mines (AEM) and Anglogold (AU) will be on my radar for short-sale entries on Monday and Tuesday.

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Tom Incorvia, Stock Swing Trader

The three broader averages finished the week up 10%. That marks the first time ever the big three orchestrated that feat. In fact, all 31 sectors finished in the green. But before we start popping the corks on the champagne bottles, there is a lot of work to do on the upside. There are many areas of resistance to overcome before we can even consider being out of the woods. The bears still have the upper hand and will not let go so easily. Last week’s action was nothing more than a typical reaction bounce. I know the bounce was quite large, but considering how oversold the market was, it’s not surprising to see a move that dynamic. It would not surprise me to see more probing to the upside over the next few weeks before another assault by the bears.

This week will have much in store as there are several key economic reports on the calendar. The most important is payroll numbers on Friday. Traders will be keeping this in the back of their minds all week. There probably won’t be any Wednesday morning market fireworks with Senator Obama holding a fairly strong lead. Unless Senator McCain pulls off a late comeback, the markets should be focusing on earnings and economic numbers. There may be some follow-through from last week’s buying. If so, there are a few sectors I’m looking at. The Education & Training Sector hit 2008 highs last week. Another sector to watch is the Oil & Gas Pipeline Sector, as it broke through some short-term resistance. Lastly, the Regional Banks, specifically Mid-Atlantic and Pacific Banks, have been extremely resilient over the last month.

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Art Collins, Index Futures Trader

Sometimes you just have to suck it up and admit you've lost your way. I still think the odds solidly favor an eventual penetration of the October 10 lows. My logic is pretty simplistic; that move's low was followed by the greatest single Dow point up-day in history. That means that there had to be massive participation in the bargain-basement sale. Trading 101 says that such broad-based single interest is almost never served. It won't be that easy for everyone to be a bottom-picking hero in other words. More likely is the fact that all the renewed longs are about to become grist for the new bear mill.

I'm just not so sure anymore that it's going to happen in the immediate future. Ultimate bottoming generally is a lengthy process, and we may see considerable range trading before any new trend emerges. At that point, the lows may be taken out in a significant way or more like a slight-penetration afterthought. The daily charts look bullish to me at the moment. The weekly suggests nothing more than we're approaching the top of a channel.

I seriously thought of just putting out S&P shorts and sitting on them, but that's not my trading style. Initially, my logic was that whatever else is going to happen, the longs have to take at least one more round of serious heat. That may be true, but I'm less opinionated now on when that will happen, or for that matter, how much pain the longs will have to take first. I'd have no idea where to put the stops.

Dave Mecklenburg is the Editor-in-Chief of TigerSharkTrading.com.