1:00pm (EST)

The market is bouncing around on both sides of the ledger today as the bulls try to push through resistance once again.  There’s little economic news today so most of the action involves individual stocks.  The bears seem content on holding the major averages under resistance following yesterday’s breakout as they plan their next move.

Earnings are winding to a close as the market gets set for 4Q and full-year updates which will start in January.  However, this is usually the time where a company will update Wall Street on the current quarter and year as well as providing clues for the following year.

Home Depot (HD, $33.93, up $0.38) stepped-up to the plate and said it expects 2010 earnings of $1.97 a share, on sales growth of about 2%-2.5%.  Analysts are currently expecting 2010 earnings of $1.95 a share.  For 2011, the company forecast earnings of $2.19-$2.23 a share, while Wall Street is looking for $2.22 a share.  Home Depot also said that it plans to buy back $2.5 billion in stock next year.

Turning to IPO’s (initial public offerings), two new Chinese IPOs opened for trading this morning and have experienced huge gains as investors see them as “premium” names.

E-Commerce China Dangdang (DANG, $29.14, up $13.14) is China’s version of Amazon.com (AMZN, $176.80, up $0.03) and is up 80%.  The deal was priced above the initial range of $11-$13 and was increased to $13-$15 this week.  The company raised $272 million after offering the American Depositary Receipts (ADR’s) at $16 each.

Youku.com (YOKU, $33.34, up $20.54) sold over 15 million shares at $12.80 and is similar to YouTube.  Shares are up 160% and it appears both companies left a lot on the table after underestimating demand.

As we head to press, the Dow is down 3 points to 11,355; the S&P 500 is up 1 point to 1,225; the Nasdaq is up 6 points to 2,604.

We have an incredible amount of information to cover in our Members Area so we have to cut our commentary a little short today.  We will be back in the morning at 9am with a full update