Monday, November 06, 2017

Bear Radar

Posted by Gary .....at 2:01 PM
Style Underperformer:
  • Large-Cap Value +.2%
Sector Underperformers:
  • 1) Foods -1.1% 2) Papers -.6% 3) Medical Equipment -.4%
Stocks Falling on Unusual Volume: 
  • TVTY, HSIC, CFX, SWIR, TMUS, EVH, APTI, SSP, PRTY, GTN, KEM, ACAD, BID and SSP
Stocks With Unusual Put Option Activity:
  • 1) RLGY 2) M 3) TMUS 4) XPO 5) DUST
Stocks With Most Negative News Mentions:
  • 1) HY 2) BKH 3) EA 4) BLUE 5) COL
Charts:
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Bull Radar

Posted by Gary .....at 1:40 PM
Style Outperformer:
  • Small-Cap Value +.6%
Sector Outperformers:
  • 1) Oil Service +3.2% 2) Alt Energy +2.4% 3) Steel +2.4%
Stocks Rising on Unusual Volume:
  • DCIX, KORS, CAVM, QCOM, RETA, NXPI, WNS, RMAX, MRVL, HQY, AXDX, ORBK, SOXX, CRCM, NTES, SYNA, LBRDA, EGL, TTM, KFRC, STC, JP, CCI, CIFS, ESIO, BAS, CRC, XPER, LAMR, HQY, AMD, CTRL, QRVO, DISH, IDTI, NVRO and ATUS
Stocks With Unusual Call Option Activity:
  • 1) AMT 2) MRO 3) DKS 4) QCOM 5) XLNX
Stocks With Most Positive News Mentions:
  • 1) KORS 2) AMD 3) ORBK 4) BABA 5) TRN
Charts:
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Morning Market Internals

Posted by Gary .....at 10:38 AM
NYSE Composite Index:
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Sunday, November 05, 2017

Monday Watch

Posted by Gary .....at 11:29 PM
Today's Headlines
Bloomberg:
  • Saudi Prince's Corruption Sweep Reaches Aramco. A Saudi Aramco director and a member of the royal council overseeing the world’s biggest oil exporter were arrested along with other top officials as Crown Prince Mohammed bin Salman seeks to strengthen his hand amid a reform push that includes a stake sale in the company next year. The board member, Ibrahim Al-Assaf, a former finance minister, was among at least 17 princes, current and former government ministers and businessmen taken into custody, according to an infographic published by Al-Eqtisadiah newspaper. Adel Fakeih, the minister of economy and planning and a member of Saudi Arabia’s oversight council, was relieved of his post and replaced by his deputy, according to the state-run Saudi Press Agency. 
  • Shakeup Stuns Analysts Who Say It Shows Saudis Mean Business. Saudi Arabia’s unprecedented decision to arrest senior princes and billionaires shocked analysts across the region, but to some it’s a sign the kingdom is serious about change. A newly formed anti-corruption committee, headed by Crown Prince Mohammed bin Salman, instructed police to arrest 11 princes, four ministers and dozens of former ministers, the Saudi-owned Al Arabiya television said. The decision comes about two weeks after the kingdom announced a series of projects, including a $500 billion city, as part of a plan to overhaul an economy that has been almost entirely dependent on oil revenue for decades. The Tadawul All Share Index closed 0.3 percent higher on Sunday, erasing losses of as much as 2.2 percent.
  • Trump Warns Against Challenging U.S. on First Stop in Asia. President Donald Trump warned nations against challenging the U.S. as he rallied American troops in Japan on the first stop of his 11-day tour of Asia. Speaking to U.S. and Japanese military personnel on Sunday at Yokota Air Base in western Tokyo, Trump said he would push for freedom in the region and fair trade in meetings with other leaders. He also exuded confidence in the U.S. military as tensions rise with North Korea.
  • China's Shadow Banking Halts as Regulation Bites, Moody's Says. China’s shadow banking sector, estimated by some analysts to be worth 122.8 trillion yuan ($18.5 trillion), stopped growing in the first half of the year as issuance of wealth management products declined, according to Moody’s Investors Service. For the first time since 2012, China’s gross domestic product grew faster than shadow banking assets in the six-month period, Moody’s said in a statement Monday. Following last month’s Communist Party Congress, further regulation will continue to rein in shadow banking and address some of the key systemic imbalances, Moody’s said.
  • Catalan Leader Puigdemont Turns Himself In to Belgian Police. Ousted Catalan President Carles Puigdemont, who faced an international arrest warrant for his role in an ill-fated declaration of independence, turned himself in voluntarily to Belgian police on Sunday. Puigdemont and four former ministers of the Catalan regional government surrendered at 9:17 a.m. in Brussels. The investigative judge now has exactly 24 hours to make a decision on whether to keep them in detention or conditionally release them, Gilles Dejemeppe, a spokesman for the Brussels prosecutor office, told reporters.
  • Asia Stocks Drop, Yen Slides to Lowest Since March. (video) The yen tumbled to the weakest since March after Bank of Japan Governor Haruhiko Kuroda said it’s crucial for inflation to exceed the 2 percent target. Asian stocks slipped after China’s central bank chief warned again about excessive leverage and President Donald Trump brought up trade grievances on a trip to the region. Hong Kong’s Hang Seng dropped the most in more than two weeks in the wake of People’s Bank of China Governor Zhou Xiaochuan’s latest salvo on the continuing accumulation of financial risks. Japan’s stocks outperformed as the yen’s decline offered support. Kuroda underscored in a speech Monday that the BOJ is committed to overshooting its inflation goal, auguring no appetite for tapering stimulus. Oil extended an advance above $55 a barrel, with traders keeping an eye on the surprise power shakeup in Saudi Arabia over the weekend. The Topix index was down 0.1 percent percent and the Nikkei 225 Stock Average was little changes as of the midday break. Australia’s S&P/ASX 200 Index fell 0.2 percent, while South Korea’s Kospi index fell 1 percent. Hong Kong’s Hang Seng Index fell 1.4 percent.
Wall Street Journal: 
Zero Hedge: 
Night Trading
  • Asian indices are -.50% to +.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 74.5 -.25 basis point.
  • Asia Pacific Sovereign CDS Index 14.75 -.25 basis point.
  • Bloomberg Emerging Markets Currency Index 72.30 -.02%.
  • S&P 500 futures -.17%.
  • NASDAQ 100 futures -.17%.

Earnings of Note
Company/Estimate
  • (CAH)/1.00
  • (CVS)/1.49
  • (LPX)/.74
  • (KORS)/.83
  • (MYL)/1.20
  • (SYY)/.72
  • (ANDE)/.16
  • (CAR)/3.04
  • (MTW)/-.02
  • (MCHP)/1.35
  • (PCLN)/34.29
  • (RRGB)/.29
  • (SWKS)/1.76
  • (THC)/1.53
  • (TDW)/-1.16
  • (TRIP)/.35
  • (WTW)/.51
Economic Releases  
  • None of note
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Eurozone Services PMI report, Eurozone PPI report, CSFB Healthcare Conference, (FAST) Oct. sales report and the Citi Financial Tech Conference could also impact trading today.
BOTTOM LINE: Asian indices are mostly lower, weighed down by industrial and technology shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 100% net long heading into the week.

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Weekly Outlook

Posted by Gary .....at 11:16 PM
BOTTOM LINE: I expect US stocks to finish the week modestly higher on tax reform hopes, yen weakness, earnings outlooks, buyout speculation, short-covering and economic optimism. My intermediate-term trading indicators are giving neutral signals and the Portfolio is 100% net long heading into the week.
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Saturday, November 04, 2017

Today's Headlines

Posted by Gary .....at 7:04 PM
Bloomberg:
  • China's Zhou Warns on Mounting Financial Risk in Rare Commentary. China’s financial system is getting significantly more vulnerable due to high leverage, according to central bank governor Zhou Xiaochuan, who also flagged the need for deeper reforms in the world’s second-biggest economy. Latent risks are accumulating, including some that are "hidden, complex, sudden, contagious and hazardous," Zhou wrote in a lengthy and strongly-worded article published on the People’s Bank of China’s website late Saturday. The nation should toughen regulation and let markets serve the real economy better, according to Zhou. The government should also open up financial markets by relaxing capital controls and reducing restrictions on non-Chinese financial institutions that want to operate on the mainland, he wrote.
  • Yemen Rebels Say They Fired Missile at Saudi's Main Airport. Yemen’s Houthi rebels said Saturday they’d targeted the international airport in Riyadh with a ballistic missile in a rare attack on one of the most vital targets in the Saudi capital. The projectile was aimed at King Khalid International Airport, located about 22 miles (35 kilometers) north of Riyadh, the rebel-controlled Saba news agency reported. Saudi state-run media said the kingdom’s air defenses intercepted a missile northeast of Riyadh, with no material damage to the airport. Residents in the capital said they heard a loud bang.
  • Lebanon PM Resigns, Bringing Saudi-Iran Proxy Conflict to the Fore. Lebanese Prime Minister Saad al-Hariri unexpectedly resigned on Saturday in a televised speech from Saudi Arabia, saying he feared for his life and accusing Iran and its proxies of destabilizing his country and the region. Hariri, a pro-Saudi Sunni politician, said Lebanon has suffered enough because of the Iranian-backed Hezbollah and its grip on domestic politics. “I want to say to Iran and its followers that they are losing in their interference in the affairs of Arab nations, and our nation will rise as it did before -- and the hands that are extended to it with evil will be cut off,” he said.
Wall Street Journal:
Barron's:
  • Had bullish commentary on (HON), (NVDA), (BIDU), (BABA), (MU), (LUV), (FNSR), (LITE), (VIAV), (OCLR), (AAOI), (IPHI), (DBS). (ALI), (CTRP), (MAT), (NPYN), (CIEN), (FEYE), (AMBA), (LSCC), (CEVA), (CRAY and (INTC).
  • Had bearish commentary on (GE).
Zero Hedge:
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