Thursday, September 05, 2013

Bull Radar

Posted by Gary .....at 11:25 AM
Style Outperformer:
  • Small-Cap Value +.23%
Sector Outperformers:
  • 1) Oil Service +1.47% 2) Airlines +.99% 3) HMOs +.97%
Stocks Rising on Unusual Volume:
  • IBN, HDB, OAS, PBR, PZE, POZN, SPPI, ACHN, KDN, LPX, FAST, GRPN, CMC and NQ
Stocks With Unusual Call Option Activity:
  • 1) ASTX 2) KSS 3) RSX 4) TSN 5) GIS
Stocks With Most Positive News Mentions:
  • 1) YHOO 2) WCG 3) COST 4) UNG 5) STZ
Charts:
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Thursday Watch

Posted by Gary .....at 12:29 AM
Evening Headlines 
Bloomberg:
  • Obama-Putin Rift Over Syria Strike Widens on Eve of G-20 Summit. The diplomatic dialogue between Barack Obama and Vladimir Putin has featured the U.S. president comparing Putin to a bored schoolboy and the Russian leader forcing an irritated Obama to wait a half-hour for a meeting. And that was before warships from the two nations drew near in the Eastern Mediterranean amid a widening rift over Obama’s threat of a military strike against Syria after what he says is the regime’s use of chemical weapons in an area near Damascus. With Obama in St. Petersburg today for a summit of global leaders, Putin yesterday denounced a potential U.S. attack on Syria as a violation of international law, while Obama told reporters the two countries’ relations have “hit a wall.” “This is basically as bad as it gets,” said James Goldgeier, dean of the School of International Service at American University and the Russia director for the National Security Council under former President Bill Clinton. “You typically don’t have leaders who so openly criticize each other, who openly disdain each other.”
  • IMF Sees Acute Market Pressure for Some Emerging Economies. Developed economies are turning into global growth engines as some of their emerging-market counterparts decelerate amid “acute” market pressures, the International Monetary Fund said. “Global growth remains subdued but its underlying dynamics are changing,” the IMF said today in a report for leaders of the Group of 20 nations meeting this week in St. Petersburg, Russia. “Momentum is projected to come mainly from advanced economies, where output is expected to accelerate.” Emerging markets, which helped pull the world out of a recession after the global financial crisis, now face an exodus of cash and sliding currencies in anticipation of the Federal Reserve’s eventual tapering of its $85 billion in monthly bond purchases. Expansion in those countries is 2.5 percentage points below 2010 levels, with Brazil, China and India accounting for the slowdown, according to the IMF. 
  • China Must Give Market Bigger Role as Growth Slows, Chamber Says. China’s government must reduce its role in the economy and allow market-driven change to ensure sustainable growth, according to a report by the European Union Chamber of Commerce in China. “China could previously make a choice between economic restructuring and maintaining growth,” Davide Cucino, president of the chamber, said at a briefing on its annual position paper in Beijing yesterday. Now “the only way to get sustainable growth is to carry out structural reform.”  
  • China Sells Residential Land at Record Price Amid Property Curbs. China sold a residential land parcel in Beijing at a record price amid rising competition among developers for land in major cities even as the government maintains its property curbs. The 28,100 square-meter (302,356 square-foot) National Agriculture Exhibition Center plot, northeast of the city center, was sold for 2.1 billion yuan ($343 million) to Sunac China Holdings Ltd. (1918) yesterday. Sunac’s bid included a commitment to build a 278,000 square-meter hospital at another site, taking the total bid cost to 4.3 billion yuan, according to a statement on the local land reserve center’s website. The price paid implies a cost per square meter of buildable space of 73,000 yuan, the most expensive in China, according to Centaline Property Agency Ltd., China’s biggest real-estate brokerage. “The high price happened even as property curbs were in place,” said Qu Anxin, a Shanghai-based researcher at Centaline, who estimated that homes built on the site will sell for as much as 200,000 yuan per square meter.
  • BOJ Leaves Policy Unchanged as Economy Makes Moderate Recovery. The Bank of Japan maintained its unprecedented monetary easing, as signs of strength in the economy and price gains point to progress in its effort to end 15 years of deflation. The central bank will expand the monetary base at an annual pace of 60 trillion yen ($602 billion) to 70 trillion yen, it said in a statement in Tokyo today. All 32 economists in a Bloomberg News survey forecast the outcome. The BOJ raised its assessment of the economy, saying a moderate recovery is underway.
  • Samsung $299 Galaxy Gear Tests Demand for Smart Watches. Samsung Electronics Co. (005930) set the price of its Galaxy Gear at $299 as the biggest maker of smartphones beats Apple Inc. (AAPL) in unveiling a wristwatch device that can make phone calls, surf the Web and take photos.
  • China Stocks Fall Most in 2 Weeks, Halts Longest Rally in Month. China’s stocks fell the most in two weeks, led by material producers and port operators. Shanghai International Port (Group) Co. dropped 2.6 percent after gaining 95 percent since the State Council approved the city’s free-trade zone plan on Aug. 22. Aluminum Corp. of China Ltd. slumped the most in a month. China Merchants Bank Co. advanced 2.3 percent after raising 27.5 billion yuan ($4.5 billion) in a rights offer. The Shanghai Composite Index (SHCOMP) fell 0.5 percent to 2,117.21 at 10:04 a.m. local time, poised for the biggest loss since Aug. 20.
  • Won to Kospi Jump as Metals Gain; Aussie Index, Kiwi Fall. Asian stocks rose for a sixth day and emerging-market currencies strengthened as central banks from Japan to Europe review monetary policy. Aluminum gained. The MSCI Asia Pacific Index of shares added 0.2 percent to 133.39 as of 11:55 a.m. in Tokyo, heading for its longest rally since December.
  • Rubber Extends Loss as Selling in Shanghai Spurs Demand Concern. Rubber futures declined for a second day as a drop in the Chinese market increased concern demand may weaken in the world’s largest consumer. The February contract fell as much as 0.8 percent to 279.3 yen a kilogram ($2,800 a metric ton) on the Tokyo Commodity Exchange and traded at 280.9 yen at 11:53 a.m. local time. 
  • Rebar Futures Drop to Lowest in a Month as Premium Lures Sellers. Steel reinforcement-bar futures in Shanghai fell for the third day to the lowest level in almost a month as the premium to spot market prices attracted selling. Rebar for January delivery on the Shanghai Futures Exchange lost as much as 0.4 percent to 3,723 yuan ($608) a metric ton, the lowest since Aug. 9, before trading at 3,730 yuan at 10:31 a.m. local time.
  • Draghi Seen Fighting Enthusiasm as Market Rates Increase. Draghi’s dilemma is that the strength of the rebound has helped boost interest-rate expectations to levels he described last month as “unwarranted.” That’s a signal some investors are questioning his commitment made in July to keep rates low for an extended period. Higher borrowing costs risk undermining what has so far proved to be a jobless recovery. “At a time when this recovery is in its early stages, it is important for the ECB president to limit any abrupt upward reaction in yields,” said Alan Clarke, an economist at Scotiabank in London.
  • Shiller Warns of Housing Bubble After 225% Surge: Brazil Credit. Robert Shiller, who predicted the collapse of the U.S. housing market, is warning that a bubble is emerging in Brazil at a time when a sluggish economy and persistent inflation are eroding investor confidence. Since January 2008, home prices in Sao Paulo have soared 181% and jumped 225% in Rio de Janeiro, according to the FIPE Zap index. That's as much as twice the increase in rent prices, signaling that the housing market has become overheated, according to Shiller.
  • About 35,000 Global Bank Employees May Face EU’s Bonus Curbs. About 35,000 employees at banks around the world may be caught by European Union bonus caps, more than 20 times the current number of people affected by the pay rules, the British Bankers’ Association said. The workers facing the EU rules, which would cap bonuses at twice annual pay, include 23,450 bankers in the U.K., 2,835 in other EU countries and 8,777 around the world, the industry group said in a report posted on the European Banking Authority’s website. The BBA asked the regulator to delay the introduction of tougher bonus rules for one year.
Wall Street Journal:
  • Senate Panel Backs Use of Force Against Syria. Measure Says Goal Should Be to 'Change the Momentum on the Battlefield'; Pentagon Plans More Firepower. A key Senate panel on Wednesday backed President Barack Obama's request to strike Syria, while the Pentagon prepared to employ greater firepower to reach a shifting array of military targets. The revised options under development, which reflect Pentagon concerns that Syrian President Bashar al-Assad has dispersed his military equipment, include the use of Air Force bombers to supplement the four Navy destroyers armed with missiles that are deployed in the eastern Mediterranean. Initially, Pentagon planners said they didn't intend to use aircraft in the proposed strikes. 
  • Capital Unease Again Bites Deutsche Bank(DB). German Lender Maintains It Is Adequately Capitalized. A mere four months after co-Chief Executive Anshu Jain declared the end of Deutsche Bank AG's DB +0.77% "hunger march" following a €3 billion ($3.95 billion) capital increase, the bank is again on the defensive, trying to persuade investors and regulators that it is sufficiently capitalized. To its critics, the bank's claims—to be "one of the best capitalized banks in the world"—appear to have fallen on deaf ears as its earnings outlook has clouded. Deutsche Bank's shares have dropped 7.3% since late July, closing Wednesday in Frankfurt at €33.50.
Zero Hedge:
Washington Post: 
  • Obama seeks an accomplice for Syria action by George Will. Obama’s sanctimony about his moral superiority to a Congress he considers insignificant has matched his hypocrisy regarding his diametrically opposed senatorial and presidential understandings of the proper modalities regarding uses of military force. Now he asks from the Congress he disdains an authorization he considers superfluous. By asking, however reluctantly, he begins the urgent task of lancing the boil of executive presumption. Surely he understands the perils of being denied an authorization he has sought, and then treating the denial as irrelevant.
New York Times:
  • Falling Economic Tide in India Is Exposing Its Chronic Troubles. Its economy now stands in disarray, with the prospect of worse to come in the next few months. Vinod Vanigota, a Mumbai wholesaler of imported computer hard drives, said sales dropped by a quarter in the last two weeks. The rupee, India’s currency, has been so volatile in recent days that he began revising his price lists every half-hour. Business activity at Chip Com Traders, where he is the managing director and co-owner, has slowed so sharply that trucking companies plead for business. “One of the companies called today and said, ‘Don’t you have a parcel of any sort for us to deliver today?’ ” Mr. Vanigota said.
Reuters:
  • EADS sees flat to lower defense revenue. EADS is opting out of bidding on some U.S. weapons programs as it adjusts to cuts in U.S. defense spending, and it expects flat to lower revenue in defense business in coming years as the cuts deepen, a senior executive said on Wednesday. "There's no doubt that the government sector is flat to declining and we're forecasting the same," Sean O'Keefe, chief executive of EADS North America, told the Reuters Aerospace and Defense Summit.
Financial Times:
  • Lloyd’s chairman warns on ‘systemic risk’ of capital rush. The chairman of Lloyd’s of London has warned of the danger that a rush of capital into the insurance industry will cause “systemic problems” akin to those of the banking sector during the financial crisis. John Nelson, head of the historic insurance market, spoke out about the risks of adverse consequences from non-traditional funding of insurance, which he said was occurring “on a scale not seen before”.
Telegraph:
Shanghai Securities News:
  • China Economy 'Held Hostage' by Property Investment. China's economy has been "largely taken hostage" by property investment, which accounts for a high proportion of GDP, former People's Bank of China adviser Yu Yongding writes in a commentary. Developing countries like China should not make real estate a "pillar" industry for economic development, Yu wrote. A "serious" property tax policy will "squeeze" out many homes, according to Yu. Non-performing loan ratio may rise substantially in futures periods, he said. Local government debt is the biggest risk to China's financial system, Yu said.
Evening Recommendations 
Wedbush:
  • Rated (SBUX) Outperform, target $80. 
Morgan Stanley:
  • Rated (DE) Underweight, target $72.
Night Trading
  • Asian equity indices are -.25% to +1.0% on average.
  • Asia Ex-Japan Investment Grade CDS Index 155.0 +1.0 basis point.
  • Asia Pacific Sovereign CDS Index 128.75 +.5 basis point.
  • FTSE-100 futures +.23%.
  • S&P 500 futures +.03%.
  • NASDAQ 100 futures +.06%.
Morning Preview Links

Earnings of Note
Company/Estimate
  • (JOSB)/.52
  • (CONN)/.60
  • (COO)/1.72
  • (PAY)/.20
  • (ZQK)/.04
  • (FNSR)/.31
  • (SWHC)/.36
  • (TITN)/.19
  • (KFY)/.30 
Economic Releases
8:15 am EST
  • The ADP Employment Change for August is estimated at 182K versus 200K in July.
8:30 am EST
  • Initial Jobless Claims are estimated to fall to 330K versus 331K the prior week.
  • Continuing Claims are estimated to fall to 2985K versus 2989K prior.
  • Final 2Q Non-Farm Productivity is estimated to rise +1.6% versus a prior estimate of a +.9% gain.
  • Final Unit Labor Costs are estimated to rise +.8% versus a prior estimate of a +1.4% gain.
10:00 am EST
  • Factory Orders for July are estimated to fall -3.4% versus a +1.5% gain in June. 
  • ISM Non-Manufacturing for August is estimated to fall to 55.0 versus 56.0 in July.
11:00 am EST
  • Bloomberg consensus estimates call for a weekly crude oil inventory decline of -2,000,000 barrels versus a +2,986,000 barrel increase the prior week. Gasoline supplies are estimated to fall by -700,000 barrels versus a -587,000 barrel decline the prior week. Distillate inventories are expected to rise by +600,000 barrels versus a -316,000 barrel decline the prior week. Finally, Refinery Utilization is estimated to fall by -.5% versus a +.2% gain the prior week.
Upcoming Splits
  • (DVA) 2-for-1
Other Potential Market Movers
  • The Fed's Kocherlakota speaking, BoE rate decision, ECB rate decision, Draghi press conference, Spanish/French bond auctions, G-20 meetings, Challenger Job Cuts report for August, RBC Consumer Outlook Index for September, weekly EIA natural gas inventory report and the (SYK) analyst meeting could also impact trading today.
BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and technology shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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Wednesday, September 04, 2013

Stocks Higher into Final Hour on Lower Energy Prices, Diminishing Global Growth Fears, Short-Covering, Biotech/Tech Sector Strength

Posted by Gary .....at 4:03 PM
Broad Equity Market Tone:
  • Advance/Decline Line: Higher
  • Sector Performance: Most Sectors Rising
  • Volume: Sightly Below Average
  • Market Leading Stocks: Performing In Line
Equity Investor Angst:
  • Volatility(VIX) 16.01 -3.61%
  • Euro/Yen Carry Return Index 137.26 +.35%
  • Emerging Markets Currency Volatility(VXY) 11.79 -1.67%
  • S&P 500 Implied Correlation 52.26 -1.73%
  • ISE Sentiment Index 113.0 +13.86%
  • Total Put/Call .81 +9.46%
  • NYSE Arms .74 +1.74% 
Credit Investor Angst:
  • North American Investment Grade CDS Index 82.99 -.62%
  • European Financial Sector CDS Index 144.50 +.10%
  • Western Europe Sovereign Debt CDS Index 90.0 +4.75%
  • Emerging Market CDS Index 344.32 +1.12%
  • 2-Year Swap Spread 15.25 -2.0 bps
  • TED Spread 24.25 -.25 bp
  • 3-Month EUR/USD Cross-Currency Basis Swap -10.50 -.5 bp
Economic Gauges:
  • 3-Month T-Bill Yield .02% unch.
  • Yield Curve 243.0 -1 bp
  • China Import Iron Ore Spot $138.0/Metric Tonne -.5%
  • Citi US Economic Surprise Index 36.0 -.8 point
  • Citi Emerging Markets Economic Surprise Index -16.0 +.9 point
  • 10-Year TIPS Spread 2.08 -3 bps
Overseas Futures:
  • Nikkei Futures: Indicating +26 open in Japan
  • DAX Futures: Indicating -5 open in Germany
Portfolio: 
  • Slightly Higher: On gains in my tech/biotech/retail/medical sector longs
  • Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  • Market Exposure: Moved to 50% Net Long
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Today's Headlines

Posted by Gary .....at 3:30 PM
Bloomberg: 
  • Russia Boosts Mediterranean Force as U.S. Mulls Syria Strike. Russia is sending three more ships to the eastern Mediterranean to bolster its fleet there as a U.S. Senate panel will consider President Barack Obama’s request for authority to conduct a military strike on Syria. Russia is sending two destroyers, including the Nastoichivy, the flagship of the Baltic Fleet, and the Moskva missile cruiser to the region, Interfax reported today, citing an unidentified Navy official. That follows last week’s dispatch of a reconnaissance ship to the eastern Mediterranean, four days after the deployment of an anti-submarine ship and a missile cruiser to the area, which were reported by Interfax. Syria hosts Russia’s only military facility outside the former Soviet Union, at the port of Tartus.
  • Obama’s Syria Policy Adrift, Republican Royce Tells Panel. The Republican chairman of the House Foreign Affairs Committee criticized President Barack Obama’s Syria policy today as “adrift,” without saying whether he would support a military strike in response to chemical weapons use by Syria’s regime. “The administration’s Syria policy doesn’t build confidence,” Representative Ed Royce, of California, said at the start of a committee hearing on Obama’s request for congressional authorization of military action. “For over two years, U.S. policy has been adrift.” “There are no easy answers,” Royce said. “Syria and much of the Middle East are a mess.” Royce raised questions about the the complications of a U.S. military strike against Syrian President Bashar al-Assad’s regime during a civil war, without broad international backing. “What are the chances of escalation?” Royce asked. “Are different scenarios accounted for? If our credibility is on the line now, as is argued, what about if Assad retaliates?” 
  • Italy’s Bonds Fall as Services Output Shrinks More Than Forecast. Italy’s 10-year government bonds declined after a report showed the nation’s service sector, based on a survey of purchasing managers, shrank more last month than economists forecast. Italy’s 10-year yields approached a six-week high as the Repubblica newspaper reported former Prime Minister Silvio Berlusconi may consider withdrawing his support for the coalition government before a vote on whether to oust him from the senate following his conviction for tax fraud. Portugal (GSPT10YR)’s 10-year yield reached a six-week high as a report said European Union and International Monetary Fund officials are discussing a precautionary program for the country.
  • Merkel Recalls East German Collapse as Warning for Europe. Chancellor Angela Merkel said the economic collapse of East Germany should serve as a lesson for Europe, since there’s no alternative to hard work to remain globally relevant. Merkel, addressing a campaign rally yesterday in the eastern town of Finsterwalde, south of Berlin, flaunted her credentials as a fellow one-time citizen of the former German Democratic Republic as she presented her vision for a more competitive Europe to the crowd of about 3,000. To sustain Europe’s high level of social expenditure relative to the rest of the world, Europeans must innovate, “be better than the others” and “exert ourselves,” Merkel said. “Everyone who lived in the GDR knows that: Whoever is not economically productive, whoever can’t sell products, will get into difficulties.” 
  • Merkel’s Frugal Stance on Greece Aid No. 1 Vote-Winner, CDU Says. German Chancellor Angela Merkel’s bearing as a frugal “housewife” on Greece and other troubled euro nations is a campaign vote-winner that won’t change after election day, a regional leader of her party said. “The Swabian housewife, who doesn’t spend money without getting something in return, is seen by voters as the right leader for Germany in the crisis,” Michael Schierack, who heads Merkel’s Christian Democratic Union in the eastern state of Brandenburg, said yesterday in an interview in the capital, Potsdam. People who think Merkel will loosen aid terms to Greece and other countries after elections “are fooling themselves.” 
  • European Stocks Are Little Changed as Vodafone Advances. European stocks were little changed as Vodafone Group Plc led telecommunications shares higher and as investors waited for a U.S. Senate committee to vote on a resolution enabling President Barack Obama to attack Syria. Vodafone added 2.2 percent as it rebounded from yesterday’s biggest drop in two months. Ryanair slumped the most in more than five years after Europe’s largest discount airline said full-year profit may fall short of its forecast range. ProSiebenSat.1 Media AG lost 5 percent after a holding company for investments owned by KKR & Co. and Permira Advisers LLP said it is selling shares in the broadcaster. The Stoxx 600 added 0.2 percent to 302.34 at the close of trading, after earlier declining as much as 0.7 percent.
  • China Record Drop in Credit Growth Puts Momentum at Risk. China’s leaders are extending a clampdown on credit, prompting analysts from JPMorgan Chase & Co. to Societe Generale SA to caution that the economy is vulnerable to weakening after the pickup so far this quarter. New yuan loans were probably little changed in August, after aggregate financing, the broadest measure of credit, posted a fourth straight drop in July, the longest streak in 11 years of data. Analysts’ median estimates point to the fastest industrial-output gain since December and the slowest producer-price decline in six months. 
  • Russia Joins India to Taiwan in Missing Debt Auction Targets. Russia failed to raise as much money as planned at a government bond auction, joining nations from India to Taiwan in missing borrowing targets as investors keep away from emerging-market assets. The Finance Ministry in Moscow sold 6.07 billion rubles ($182 million) of its so-called OFZ notes due May 2016 after offering 13.6 billion rubles, according to a statement on its website. Russia canceled an auction last week as only one bidder took part. The ministry issued today’s bonds at a 6.5 percent average yield, the top of its proposed range. Developing nations are scaling back as the prospect of the U.S. paring financial stimulus measures and tensions over Syria curb investor appetite for riskier assets.
  • How the Bank Lobby Loosened U.S. Reins on Derivatives. Lew insisted that Gensler coordinate better with the Securities and Exchange Commission, whose new chairman, Mary Jo White, was also present. Gensler, who was deep into negotiations with his European counterparts, was surprised by Lew’s demand. He’d been hearing the same request from lobbyists seeking to slow the process, and he told the Treasury chief it felt like his adversary bankers were in the room, the people said. 
  • Pimco Total Return Fund Lost 14% of Assets in Four Months. The world’s biggest mutual fund keeps getting smaller.Bill Gross’s Pimco Total Return Fund shed $41 billion, or 14 percent of its assets, in the past four months through losses and investor withdrawals. The fund suffered $7.7 billion in net redemptions in August, Chicago-based researcher Morningstar Inc. (MORN) said today in an e-mailed statement, the fourth straight month of withdrawals.
Wall Street Journal:
  • Australian Economic Boom Tempered by Slowing Demand From China. Some Australians Question Whether Mining Boom Has Ended. As China's economic engine slows, sending prices for iron ore and coal sharply lower, Australia is facing an economic dislocation, with unemployment rising to a 12-year high and growth slowing rapidly.
CNBC:
  • Nasdaq reports another problem with its data feed. The Nasdaq had yet another problem Wednesday with the main data feed that was at the center of its unprecedented outage nearly two weeks ago. According to the exchange, a system called the "Securities Information Processor," or SIP, experienced an outage between 11:35 a.m. and 11:41 a.m. The outage affected the exchange's ability to transmit quotes in stock symbols PC through SPZ. But other market participants said the outage was worse than that. NYSE Arca said
  • Saving habits backslide. Some people, it seems, never learn. After the financial crisis exposed the flaws in many consumers' spending and saving habits, many tightened the reins significantly, pushing the savings rate up from 3.8 percent in August 2008 to as high as 8.7 percent in December 2012, according to U.S. Commerce Department data. As of July of this year, the national consumer savings rate stood at 4.4 percent, the Commerce Department reported.
  • Looking for a raise? Good luck with that. Here's another sad truth of the "new normal" after the Great Recession: Wages have flatlined and are unlikely to revive even though the job market is improving.
Zero Hedge: 
Business Insider: 
Ricochet:
Reuters:
  • Fed's Williams says he's open-minded on cutting bond buys this month. San Francisco Federal Reserve President John Williams said Wednesday he still has not made up his mind as to whether he believes the U.S. central bank should begin paring its massive bond-buying stimulus when policymakers meet two weeks from now. "I'm going into this meeting with an open mind," he said, adding that his view will depend not only on how the economic data comes in between now and then but also on what his colleagues say at the discussion. Williams said the most important thing is that the Fed has an overall plan for ending its bond-buying program, rather than the exact timing of when the Fed begins trimming it. 
Financial Times:
Telegraph:
Echoing fears that European policymakers remain in a state of cognitive dissonance – recognizing the need for root-and-branch overhaul of peripheral banks, but backtracking on joint liability plans – Christopher Flowers, the legendary FIG investor who now runs the £2.3 billion ($3.5 billion) private equity group JC Flowers, sounded the alarm over the negative sovereign-bank feedback loop. In a shot across the bows of market bulls, who cite the return of capital flows to weaker eurozone states, Flowers issued a stark warning: "There is a scenario where we have a Lehman-type event: we wake up some Thursday and a big country is in trouble. "And the ECB will have to decide to support banks x, y, z. And then the ECB will, in fact, decide to own bank x, y, z.
While we want you to share, we ask you use the functions on-site rather than copy/paste. See T's & C's for details. http://www.euromoney.com/Article/3211790/CurrentIssue/88924/Restructuring-Flowers-slams-Europe-over-inaction.html?copyrightInfo=true
Repubblica:
  • Berlusconi Mulls Pulling Plug on Govt, New Vote. Silvio Berlusconi may consider withdrawing his support for Letta's government and calling for elections this year.
Kyodo:
  • BOJ's Kuroda Sees Big Risk in Postponing Tax Hike. Postponement may trigger sell-off of JGB's, Kuroda said.
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Bear Radar

Posted by Gary .....at 1:28 PM
Style Underperformer:
  • Small-Cap Value +.61%
Sector Underperformers:
  • 1) Gold & Silver -1.24% 2) Software -.24% 3) Computer Services -.03%
Stocks Falling on Unusual Volume:
  • RYAAY, KMI, KMP, MTDR, TLK, WAL, FRAN, GWRE, GMED, UBNT, HAIN, HRB, LUX, DORM, NQ, NAV, AWK, SAI, MSFT,CHD, CRZO, TITN, KMR, CAB, VVUS and PIKE
Stocks With Unusual Put Option Activity:
  • 1) EWJ 2) KMI 3) XLP 4) CIEN 5) ADT
Stocks With Most Negative News Mentions:
  • 1) VVUS 2) CBI 3) CNQR 4) NUVA 5) COST
Charts:
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Bull Radar

Posted by Gary .....at 11:52 AM
Style Outperformer:
  • Large-Cap Growth +.75%
Sector Outperformers:
  • 1) Networking +2.04% 2) Semis +1.98% 3) Education +1.53%
Stocks Rising on Unusual Volume:
  • MHR, CIEN, SFUN, ETFC, MU, DG, VRNT, JCP, TASR, RPTP, TPX, ARIA, FNSR, RKUS, RPRX, JNPR, CATM, NWL, JDSU and YELP
Stocks With Unusual Call Option Activity:
  • 1) ETFC 2) SFD 3) SE 4) KMP 5) ODP
Stocks With Most Positive News Mentions:
  • 1) CERN 2) CME 3) MCHP 4) RDC 5) MAR
Charts:
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