While Wall Street is waiting on the stimulus package, will bad news keep coming? What do the professional traders of TraderInsight.com think?
Here’s the list of 3 stocks our professional traders will be watching this week:

IBM, FMC Corp (FMC), Par Pharmaceuticals (PRX)
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Adrian Manz, Stock Day Trader

Markets continue to stage an impressive shrug of the shoulders in the face of bad economic news. Friday’s data was dismal, but as traders are already braced for the eventuality of 9% unemployment, the reaction was to rally rather than sink. I expect this to be the trend for some time, and that the unpredictable price action in stocks will continue as well.
In early trading this week, I will be watching IBM, FMC Corp (FMC) and Par Pharmaceuticals (PRX). Each made a Fast Ball move to the upside, and each should be a candidate for an early week thrust or pullback and reversal higher.
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Tom Incorvia, Stock Swing Trader

All three of the broader averages ended up in the plus column for the first time in three weeks. Even more impressive was that 30 of the 31 sectors were up and 222 of the 239 sub-sectors enjoyed positive weekly returns. Treasury prices have backed off reflecting yields not seen since the end of November. Even the volatility index is starting to show signs of coming down to levels that are tolerable to the average investor. These are all somewhat optimistic signs.

The market averages are all still range bound and any rally may be short lived. This is by any standard categorized as a stock pickers market. A large percentage of the sub-sectors are trading in a tight, choppy, news-driven environment. Fortunately, there are a few sub-sectors that have bucked the general theme of the market by trending.

The Metal & Mining’s sectors, specifically gold and silver stocks, have shown signs of institutional sponsorship. Both areas are well above the November lows. The Gold Stock Index is at a level not seen since the end of October. I will be waiting for a pullback in the prices for an opportunity to enter a position. Silver, on the other hand, has been experiencing sideway action for the last few weeks. This seems to be a better, more immediate candidate to test the waters. If I see institutional interest start to heat up, I will keep these stocks front and center on my radar list.
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Art Collins, Index Futures Trader

The major indices broke through near-term resistance on Friday. The next level of interest is 876.00 in the S&P's. The Nasdaq's upside level was set several weeks before at 1287.00. That's a mere 11.25 higher than Friday's close. Given fundamental events and the bailout bill in particular, we may see a gap through those levels. Most of my indicators suggest that Friday's upside action will not be reversed on Monday. This is not to say that we should expect a rally on the magnitude of Friday, but again, fundamental developments may make that possible.

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