Style Underperformer:
Sector Underperformers:
- 1) Gold & Silver -3.77% 2) Coal -2.35% 3) Oil Service -.77%
Stocks Falling on Unusual Volume:
- LGCY, SYT, TX, ADTN, AGU, GOLD, BBL, BHP, WBMD, ADHD, NE, RIG, TS, CREE, SCG, PAAS, RIO, LYB, UGLD, SLCA, AEM, TGP, GG, PKE, NEM and FEYE
Stocks With Unusual Put Option Activity:
- 1) IDTI 2) EWJ 3) TER 4) PSX 5) IBM
Stocks With Most Negative News Mentions:
- 1) DVN 2) PKE 3) FEYE 4) CREE 5) VALE
Charts:
Style Outperformer:
Sector Outperformers:
- 1) Airlines +2.75% 2) Biotech +2.21% 3) HMOs +1.78%
Stocks Rising on Unusual Volume:
- RMTI, BCRX, COV, MDT, PANW, MYL, VDSI, TKMR, VDSI, SPLK, TRUE, JBLU, TWTR, DAL, KERX and AAL
Stocks With Unusual Call Option Activity:
- 1) PTEN 2) SLXP 3) UUP 4) FL 5) HRB
Stocks With Most Positive News Mentions:
- 1) WAG 2) CME 3) MYL 4) WMT 5) MDT
Charts:
Evening Recommendations
Deutsche Bank:
- Cut (AAPL) to Hold, target $102.
Night Trading
- Asian equity indices are -.75% to +.50% on average.
- Asia Ex-Japan Investment Grade CDS Index 98.0 -1.0 basis point.
- Asia Pacific Sovereign CDS Index 71.75 +.25 basis point.
- NASDAQ 100 futures +.23%.
Morning Preview Links
Earnings of Note
Company/Estimate
Economic Releases
8:30 am EST
- The Trade Deficit for August is estimated at -$40.8B versus -$40.5B in July.
- The Change in Non-Farm Payrolls for September is estimated at 215K versus 142K in August.
- The Unemployment Rate for September is estimated at 6.1% versus 6.1% in August.
- Average Hourly Earnings for September are estimated to rise +.2% versus a +.2% gain in August.
9:45 am EST
- Final US Services PMI for September is estimated at 58.5 versus a prior estimate of 58.5.
10:00 am EST
- ISM Non-Manufacturing for September is estimated to fall to 58.5 versus 59.6 in August.
Upcoming Splits
Other Potential Market Movers
- The Eurozone Services PMI could also impact trading today.
BOTTOM LINE: Asian indices are mostly lower, weighed down by industrial and real estate 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.
Broad Equity Market Tone:
- Advance/Decline Line: Higher
- Sector Performance: Most Sectors Rising
- Volume: Slightly Above Average
- Market Leading Stocks: Outperforming
Equity Investor Angst:
- Volatility(VIX) 16.07 -3.82%
- Euro/Yen Carry Return Index 143.46 -.05%
- Emerging Markets Currency Volatility(VXY) 7.86 -2.36%
- S&P 500 Implied Correlation 56.27 -4.34%
- ISE Sentiment Index 73.0 +52.08%
- Total Put/Call 1.0 -23.66%
Credit Investor Angst:
- North American Investment Grade CDS Index 63.23 -2.49%
- European Financial Sector CDS Index 63.46 +1.13%
- Western Europe Sovereign Debt CDS Index 27.17 +1.27%
- Asia Pacific Sovereign Debt CDS Index 71.66 -.29%
- Emerging Market CDS Index 281.03 -1.78%
- China Blended Corporate Spread Index 319.67 +1.14%
- 2-Year Swap Spread 26.25 -.5 basis point
- TED Spread 22.50 +.5 basis point
- 3-Month EUR/USD Cross-Currency Basis Swap -9.75 +1.25 basis points
Economic Gauges:
- 3-Month T-Bill Yield .01% unch.
- Yield Curve 190.0 +2.0 basis points
- China Import Iron Ore Spot $77.50/Metric Tonne n/a
- Citi US Economic Surprise Index 11.40 -1.0 basis point
- Citi Emerging Markets Economic Surprise Index -19.40 -.2 point
- 10-Year TIPS Spread 1.96 unch.
Overseas Futures:
- Nikkei Futures: Indicating -76 open in Japan
- DAX Futures: Indicating +42 open in Germany
Portfolio:
- Slightly Higher: On gains in my tech/biotech/medical/retail sector longs
- Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges and some of my (EEM) short
- Market Exposure: Moved to 50% Net Long
Style Underperformer:
Sector Underperformers:
- 1) Oil Service -2.03% 2) Coal -1.83% 3) Semis -.82%
Stocks Falling on Unusual Volume:
- HMC, ZINC, CREE, RDUS, WBMD, AGU, GTLS, GRMN, HSBC, SLCA, LINE, LNG, GD, EMES, PTEN, ALGN, MASI, BBEP, GPRO, EXP, TOT, QRE, OILT, CLMT, ALLY, ARP, KKR, FTK, SN, GBX, HP, GPRE, SMCI, PTEN, CJES, GDP, DWA, PEIX, PTLA, MASI and ENPH
Stocks With Unusual Put Option Activity:
- 1) GME 2) LOW 3) AA 4) EWY 5) HD
Stocks With Most Negative News Mentions:
- 1) CREE 2) AGU 3) CBI 4) SINA 5) WYNN
Charts:
Style Outperformer:
Sector Outperformers:
- 1) Utilities -.26% 2) Foods -.33% 3) Restaurants -.34%
Stocks Rising on Unusual Volume:
- RLD, MYL, KITE, NYT, AN, VOLC, KNDI and LAD
Stocks With Unusual Call Option Activity:
- 1) SWN 2) MYL 3) MDLZ 4) ETE 5) GSAT
Stocks With Most Positive News Mentions:
- 1) T 2) DAL 3) RAD 4) AKS 5) DRI
Charts:
