Portfolio Manager's Commentary on Investing and Trading in the U.S. Financial Markets
Monday, June 01, 2009
Stocks Finish at Session Highs, Boosted by Transportation, Technology, Commodity, Gaming, Hospital, Retail and Construction Shares
Market Summary
Top 20 Biz Stories
Today’s Movers
Market Performance Summary
WSJ Data Center
Sector Performance
ETF Performance
Style Performance
Commodity Futures
S&P 500 Gallery View
Timely Economic Charts
GuruFocus.com
PM Market Call
After-hours Commentary
After-hours Movers
After-hours Real-Time Stock Bid/Ask
After-hours Stock Quote
After-hours Stock Chart
In Play
Stocks Soaring into Final Hour on Less Economic Fear, Falling Credit Marke Angst, Technical Buying
Today's Headlines
Bloomberg:
- US stocks are worth buying for the first time in six years, according to an indicator that has signaled bull markets all but once since World War II. The “Coppock Guide” was named for E.S.C. Coppock, who introduced what he described as a “very-long-term buying guide” in an October 1962 story for Barron’s. Leuthold Group LLC has a version known as VLT Momentum that Steve Leuthold, the research firm’s founder, developed after reading the Barron’s article. Coppock wrote that his indicator gave “a picture of the emotional factor” behind stock swings. He advised investors to buy shares in anticipation of “an important, sustained advance” when the guide started to increase from less than zero. That kind of shift occurred last month, according to data compiled by Bloomberg. The guide for the S&P 500 climbed to -409.4 from April’s -417.2, the lowest reading since June 1938. US stocks advanced 16 or 17 times in the first year after the broader index’s Coppock curve turned higher.
- China’s Ministry of Commerce said it started an anti-dumping investigation into imports of some kinds of flat-rolled electrical steel from the US and Russia. The ministry has also started investigating subsidies on electrical steel imported from the US.
Wall Street Journal:
Washington Post:
The Detroit News:
Lloyd’s List:
- Iraqi Kurdistan held a ceremony attended by Iraqi and Kurdish officials as oil exports began from the region. The exports from the Taq-Taq and Tawke fields will amount to 100,000 barrels a day and the Kurdish regional government will try to raise this to 120,000 barrels a day in two years.
Bear Radar
Style Underperformer:
Large-cap Value (+2.35%)
Sector Underperformers:
Gold (+.09%), Biotech (+.46%) and Drugs (+.63%)
Stocks Falling on Unusual Volume:
GG, OSIP, MAPP, THOR and TAR
Stocks With Unusual Put Option Activity:
1) KWK 2) GNK 3) ESV 4) OSIP 5) DFS
Bull Radar
Style Outperformer:
Small-cap Value (+4.26%)
Sector Outperformers:
Steel (+6.05%), REITs (+5.21%) and Road & Rail (+5.05%)
Stocks Rising on Unusual Volume:
WTI, CHU, PXP, RTP, PCU, KTC, PTR, STO, LPHI, FOSL, HMIN, FACT, NETL, SVVS, LULU, FUQI, TNDM, CRESY, CSIQ, CENT, SINA, AAUK, GSIC, BEAT, TBSI, MTRX, HOS, OSIR, IAK, TMB, ITB, XOP, CPY, SXE, ROS and XSD
Stocks With Unusual Call Option Activity:
1) CL 2) PCU 3) CSX 4) OSIP 5) X
Links of Interest
Market Performance Summary
Style Performance
Sector Performance
WSJ Data Center
Top 20 Biz Stories
IBD Breaking News
Movers & Shakers
Upgrades/Downgrades
In Play
NYSE Unusual Volume
NASDAQ Unusual Volume
Hot Spots
Option Dragon
NASDAQ 100 Heatmap
Chart Toppers
Real-Time Intraday Quote/Chart
HFR Global Hedge Fund Indices