Citigroup:
- Reiterated Buy on (TGT), target $72.
- Reiterated Buy on (STZ) raised target to $25.
- Asian equity indices are -.25% to +1.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 107.50 -4.5 basis points.
- Asia Pacific Sovereign CDS Index 103.75 -6.5 basis points.
- S&P 500 futures +.75%
- NASDAQ 100 futures +.69%.
Earnings of Note
Company/Estimate
- (DCI)/.56
- (DLTR)/.62
- (AEO)/.29
- (SSI)/-.17
- (SPLS)/.41
- (SHLD)/-1.10
- (WSM)/.31
- (ROST)/1.02
- (GME)/.37
- (INTU)/-.12
- (GPS)/.48
- (DELL)/.32
- (CRM)/.31
- (ADSK)/.32
- (FL)/.16
- (PLCE)/1.12
8:30 am EST
- Initial Jobless Claims for last week are estimated to rise to 441K versus 435K the prior week.
- Continuing Claims are estimated to fall to 4295K versus 4301K prior.
- Leading Indicators for October are estimated to rise +.5% versus a +.3% gain in September.
- Philly Fed for November is estimated to rise to 5.0 versus 1.0 in October.
- None of note
- The Fed's Warsh speaking, Fed's Pianalto speaking, BofA Merrill Credit Conference, 3Q Mortgage Delinquencies, Deutsche Bank Media/Telecom Conference, Citigroup Credit Conference, (DNR) analyst meeting and the (SPWRA) analyst day could also impact trading today.
1 comment:
Beginning on November 5, 2010, the bond traders seized control of both long-term interest rates, such as the Interest Rate on The US 30 Year Government Bond, $TYX, and short term rates that were formerly under the control of the central bankers. Joe Weisenthal reported Mortgage Rates Just Hit A Four-Month High; his chart shows an explosive jump in mortgage rates that commenced in mid November 2010.
The currency traders have established themselves as the world’s sovereign governing power; their rule over the world governments began on November 5, 2010 when the Interest rate on the US Government Bond, $TYX, sustained above 4%, and as they sold the major currencies, DBV, and emerging market currencies, CEW, which has been called the US Dollar, $USD.
A debt deflatinary bear market commenced the week beginning November 8, 2010.
Stocks soared today as the UK is likely to participate in a European Bail Out of Ireland's banks.
A good investment maxim is: in a bull market buy on dips and in a bear market sell on pops.
The pops to be sold today include
Barclays Leveraged S&P, BXUB
Ireland, EIRL,
European Financial Institutions, EUFN,
China Materials, CHIM,
Nuclear Energy, NLR,
Internet, HHH,
Japan Leveraged, DXJ
Emerging Markets, EEM
Russian, RSX
India, INP,
Thailand, THD,
Korea, EWY,
Small Cap Pure Value, RZV,
Hotels, IHG
Credit Services, MA
South Korea Small Caps, SKOR
Brazil Small Caps, BRF,
Australia Small Caps, KROO,
Sweden, EWD,
Intenational Utilities, IPU
Airlines, FAA
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