Style Underperformer:
Large-Cap Value (+.35%)
Sector Underperformers:
Drugs (-1.12%), HMOs (-1.06%) and Telecom (-.56%)
Stocks Falling on Unusual Volume:
OSIR, AVP, AMED, NUVA, NFLX, LHCG, SXCI, PLCE, FDO, ABM, MCO and MHP
Thursday, September 03, 2009
Bull Radar
Style Outperformer:
Small-cap Value (+.55%)
Sector Outperformers:
Airlines (+3.41%), Banks (+2.34%) and Road & Rail (+1.75%)
Stocks Rising on Unusual Volume:
AIG, VIP, KB, ING, SLF, MBT, DLM, CBST, CHNG, ZUMZ, COST, CIEN, TSPT, SSRI, OXM, NX, CDE and MTL
Small-cap Value (+.55%)
Sector Outperformers:
Airlines (+3.41%), Banks (+2.34%) and Road & Rail (+1.75%)
Stocks Rising on Unusual Volume:
AIG, VIP, KB, ING, SLF, MBT, DLM, CBST, CHNG, ZUMZ, COST, CIEN, TSPT, SSRI, OXM, NX, CDE and MTL
Trading Links
BNO Breaking Global News of Note
Yahoo Most Popular Biz Stories
Briefing.com Stock Market Update
Stocks On The Move
Upgrades/Downgrades
StockCharts Market Performance Summary
Sector Performance
NYSE Unusual Volume
NASDAQ Unusual Volume
Hot Spots
Option Dragon
NASDAQ 100 Heatmap
Chart Toppers
CNBC Real-Time Intraday Quote/Chart
HFR Global Hedge Fund Indices
Wednesday, September 02, 2009
Thursday Watch
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Sell on (WAG), target $27.
- Reiterated Buy on (ALTH), target $15.
CSFB:
- Downgraded (HOV) to Underperform, target $2.
Night Trading
Asian Indices are -.25% to +.50% on average.
S&P 500 futures +.02%.
NASDAQ 100 futures +.06%.
Morning Preview
BNO Breaking Global News of Note
Yahoo Most Popular Biz Stories
MarketWatch Pre-market Commentary
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Stock Quote/Chart
WSJ Intl Markets Performance
Commodity Futures
IBD New America
Economic Preview/Calendar
Earnings Calendar
Who’s Speaking?
Upgrades/Downgrades
Politico Headlines
Rasmussen Reports Polling
Earnings of Note
Company/EPS Estimate
- (DLM)/.04
- (CIEN)/-.14
- (JTX)/-.70
- (COO)/.62
- (ESL)/.90
- (ZQK)/.03
- (NAV)/.66
Economic Releases
8:30 am EST:
- Initial Jobless Claims for last week are estimated to fall to 565K versus 570K the prior week.
- Continuing Claims are estimated to fall to 6125K versus 6133K prior.
10:00 am EST:
- The ISM Non-Manufacturing report for August is estimated to rise to 48.0 versus 46.4 in July.
Upcoming Splits
- (ABVT) 2-for-1
Other Potential Market Movers
- The Fed’s Fisher speaking, ICSC Chain Store Sales, weekly EIA natural gas inventory report and the ECB rate decision could also impact trading today.
BOTTOM LINE: Asian indices are slightly higher, boosted by mining and technology shares in the region. I expect US equities to open modestly higher and to weaken into the afternoon, finishing modestly lower. The Portfolio is 75% net long heading into the day.
Stocks Finish Slightly Lower, Weighed Down by Homebuilding, Bank, REIT and Oil Service Shares
Evening Review
BNO Breaking Global News of Note
Yahoo Most Popular Biz Stories
Today’s Movers
StockCharts Market Performance Summary
WSJ Data Center
Sector Performance
ETF Performance
Morningstar Style Performance
Commodity Futures
S&P 500 Gallery View
Timely Economic Charts
Most Recent Guru Stock Picks
CNN PM Market Call
After-hours Stock Commentary
After-hours Movers
After-hours Stock Quote
After-hours Stock Chart
Stocks Mixed into Final Hour as Lower Long-Term Rates and Tech Sector Strength Offset Rising Financial Sector Pessimism, China Bubble Fears
BOTTOM LINE: The Portfolio is slightly higher the final hour on gains in my Technology longs and Biotech longs. I have not traded today, thus leaving the Portfolio 75% net long. The tone of the market is neutral as the advance/decline line is about even, sector performance is mixed and volume is about average. Investor anxiety is high. Today’s overall market action is mixed. The VIX is falling 2.09% and is very high at 28.53. The ISE Sentiment Index is around average at 139.0 and the total put/call is slightly above average at .89. Finally, the NYSE Arms has been running above average most of the day, hitting 2.44 at its intraday peak, and is currently .68. The Euro Financial Sector Credit Default Swap Index is rising 6.21% today to 90.0 basis points. This index is down from its record March 10th high of 208.75. The North American Investment Grade Credit Default Swap Index is rising 1.66% to 122.79 basis points. This index is also well below its Dec. 5th record high of 285.99. The TED spread is falling 2.62% to 20 basis points. The TED spread is now down 446 basis points since its all-time high of 463 basis points on October 10th. The 2-year swap spread is down 9.25% to 34.94 basis points. The Libor-OIS spread is falling 1.19% to 15 basis points. The 10-year TIPS spread, a good gauge of inflation expectations, is falling 5 basis points to 1.61%, which is down 105 basis points since July 7th. The 3-month T-Bill is yielding .13%, which is unch. today. Considering the worse-than-expected economic data today and yesterday’s swoon, today’s action is a bit more constructive. The bears were unable to capitalize on morning weakness and market leading stocks are substantially outperforming. Moreover, the tech sector trades pretty well. On the negative side, the Euro financial sector cds index is surging and (XLF), (IYR) and (XHB) trade “heavy,” despite yesterday’s heavy losses. Oil has been unable to bounce today despite a weaker US dollar and better inventory data. As well, the ongoing strength in bonds could become a concern. Tomorrow’s economic data could also further boost bonds. Nikkei futures indicate a -25 open in Japan and DAX futures indicate a -11 open in Germany tomorrow. I expect US stocks to trade mixed-to-lower into the close from current levels on more shorting, profit-taking, rising financial sector pessimism, technical selling and China bubble worries.
Subscribe to:
Posts (Atom)