Style Underperformer:
Small-cap Growth (+.95%)
Sector Underperformers:
Alternative Energy (-1.81%), Airlines (-.78%) and Biotech (-.08%)
Stocks Falling on Unusual Volume:
RCRC, TEN, CLWR, ISRG and HIG
Stocks With Unusual Put Option Activity:
1) SBAC 2) FWLT 3) FITB 4) OMX 5) MAS
Portfolio Manager's Commentary on Investing and Trading in the U.S. Financial Markets
Tuesday, September 30, 2008
Bear Radar
Bull Radar
Style Outperformer:
Large-cap Value (+4.94%)
Sector Outperformers:
Banks (+10.7%), I-Banks (+6.17%) and Wireless (+4.03%)
Stocks Rising on Unusual Volume:
BK, RIO, RTP, VIP, STO, PTRY, ESC, PANL, AAPL, ASML, GOOG, AMZN, RIMM, MATW, OTTR, NGPC, DMND, INFY, CELG, MGRC, ICON, ARBA, CMCSA, EZPW, CMCSK, BIDU and FWLT
Stocks With Unusual Call Option Activity:
1) AMT 2) MAS 3) SOV 4) JBL 5) ERTS
Links of Interest
Market Performance Summary
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WSJ Data Center
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Dow Jones Hedge Fund Indexes
Monday, September 29, 2008
Tuesday Watch
- The Reuters/Jefferies CRB Index of 19 commodities plunged 5.9 percent, the biggest drop since record-keeping began in 1956, on concern that a spreading financial crisis may slash demand for raw materials. The CRB has slumped 28 percent from a record on July 3 as tightening credit markets, failing financial institutions and slowing economic growth heightened demand concerns. The drop today was led by crude oil, gasoline and cocoa futures. Crude and gasoline both fell as much as 11 percent.
- Rice Says US May Engage Syria as Middle East Tensions Ease.
- Platinum will swing from a deficit to the largest surplus in 10 years as demand declines amid an economic slowdown, said Paul Walker, CEO of London-based research company GFMS Ltd. “Supply has not fallen by as much as people expected,” he said. “Demand in auto catalysts and jewelry, especially in
Business Week:
- Wachovia(WB): Just the Plum Citigroup(C) Needed.
Reuters:
Telegraph:
Ming Pao Daily:
-
Late Buy/Sell Recommendations
- None of note
Night Trading
Asian Indices are -4.0% to -1.75% on average.
S&P 500 futures +.96%.
NASDAQ 100 futures +1.01%.
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Today in IBD
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Earnings of Note
Company/EPS Estimate
- (PBG)/1.04
Economic Releases
9:45 am EST
- The Chicago Purchasing Manager Index for September is estimated to fall to 53.0 from 57.9 in August.
10:00 am EST
- Consumer Confidence for September is estimated at 55.0 versus 56.9 in August.
Upcoming Splits
- None of note
Other Potential Market Movers
- The S&P/CaseShiller Home Price Index, Chicago Purchasing Manager report, Consumer Confidence, NAPM-Milwaukee and weekly retail sales reports could also impact trading today.
BOTTOM LINE: Asian indices are sharply lower, weighed down by financial and commodity stocks in the region. I expect US equities to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.
Stocks Finish at Session Lows, Weighed Down by Financial, Commodity and Construction Shares
Market Summary
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