Trading volume will be light with Christmas ahead, but bad news on upcoming economic reports is still expected this week. What do the professional traders of TraderInsight.com think?

Here’s the list of 8 stocks our professional traders will be watching this week:

Abercrombie & Fitch (ANF) and Coach (COH), Anglogold Ashanti (AU), Nucor (NUE), United States Steel (X), Newmont Gold (NEM), Barrick Gold (ABX), Rangold (GOLD).

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Adrian Manz, Stock Day Trader

I expect trading to be pretty thin this week, as Christmas comes Wednesday and Thursday this year giving many traders an excuse to take a long holiday from the uncertainty that has been rocking the markets. The VIX is finally registering readings below 50, indicating that some of the choppy market conditions of the past weeks may be behind us, but the range bound major indices are trading right in the middle of the three-month band that was established in October, indicating the potential for a retest of the up or downside on significant news this week. Thin trading may make for easy year end window dressing, so we will watch shares the retailers Abercrombie & Fitch (ANF) and Coach (COH) as the week progresses. Both have been beaten down in the flight from all things equity, and both look ready for a push higher on any bottom fishing by investors.

I will also continue to watch the commodity and basic materials names going into the end of the year. Agnico Eagle Mines (AEM), Anglogold Ashanti (AU) and US Steel (X) all promise to offer good intraday trading opportunities this week.

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Tom Incorvia, Stock Swing Trader

The broader averages had a quiet and basically flat week. Even with a quiet week, there were some sub-sectors that logged some gains. Silver, Memory Chips, Resorts and Casinos, and Industrial REITS all had double-digit gains. The big news for the week was the FOMC easing the fed funds rate to a 0% - .25% target. More important was the reaction in the fixed income market. Across the maturity scale, all rates are sitting at all-time lows. The 10-year treasury is at 2.13 % and the 30-year at 2.56%.

This week should be fairly quiet as most traders will be taking advantage of the holiday-shortened week. There may be a few events that could spur some volatility. Tuesday will be the final revision to the GDP, and Wednesday has Personal Income and Personal Spending.

I will be watching for further buying in the Gold sector. Over the last few weeks, Gold stocks have shown sponsorship by the institutions. Names like Newmont Gold (NEM), Barrick Gold (ABX), Rangold (GOLD) and Market Vectors Gold Miners ETF (GDX) could lead the way if institutional buying continues.

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3 Months for the Price of 1

The regular price of Tom Incorvia's Stock Trading Service is only $99 per month, but when you pay for one month, you'll receive the second and third month for free. Your membership will continue at the regular price of $99 per month until you cancel. This offer for two free months ends, Tuesday, December 23, 2008.

Join today.
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Art Collins, Index Futures Trader

What looked like a potential launching pad last week is now appearing somewhat anemic and vulnerable. The S&P futures seemed to carve out a cockeyed Head and Shoulders bottom a few weeks ago. It's now starting to look like the right shoulder is getting a bit long in the tooth. That which can't rally becomes ripe for a downside raid.

Volatility has diminished, which is no surprise considering the approaching holiday. We shouldn't see too many fireworks in the coming week, unless the few remaining players are intent on rowing in the same direction. If there is one-sided pressure, the thin market could exaggerate the move, making it even more volatile than normal. The likelier scenario is that we'll get our final significant push in the last week of the year. That timeframe tends to be more active than most people would imagine, and the historic bias is normally to the upside.

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