Portfolio Manager's Commentary on Investing and Trading in the U.S. Financial Markets
Wednesday, October 29, 2008
Links of Interest
Market Performance Summary
Style Performance
Sector Performance
WSJ Data Center
Top 20 Biz Stories
IBD Breaking News
Movers & Shakers
Upgrades/Downgrades
In Play
Exchange Volume vs. Average
NYSE Unusual Volume
NASDAQ Unusual Volume
Hot Spots
Option Dragon
NASDAQ 100 Heatmap
DJIA Quick Charts
Chart Toppers
Real-Time Intraday Quote/Chart
Dow Jones Hedge Fund Indexes
Tuesday, October 28, 2008
Wednesday Watch
Late-Night Headlines
Bloomberg:
- US stocks offer “good value” even though the economy is in a recession, Goldman Sachs Group Inc.’s(GS) Abby Joseph Cohen said. Companies in the S&P 500 trade for about 13 times next year’s estimated earnings, compared with a historical average of 18 times. The fourth quarter of this year will be the worst during the contraction, according to Cohen. “We do not think that there is a massive global recession out there,” she said. “We will start to see economic activity, particularly in the
- The cost of protecting Japanese and Australian corporate bonds from default declined, according to traders of credit default swaps. The Markit iTraxx
- Game Makers Push ‘Family’ Fare.
BusinessWeek:
Financial Week:
Globe and Mail:
AFP:
-
- Rents for prime retail space in
Late Buy/Sell Recommendations
Citigroup:
- Reiterated Buy on (HEW), target $50.
- Reiterated Buy on (ALB), target $30.
- Reiterated Buy on (FORM), target $28.
- Reiterated Buy on (FISV), target $56.
Night Trading
Asian Indices are +1.75% to +5.0% on average.
S&P 500 futures -.67%.
NASDAQ 100 futures -.99%.
Morning Preview
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Commentary
Pre-market Stock Quote/Chart
Before the Bell CNBC Video(bottom right)
Global Commentary
WSJ Intl Markets Performance
Commodity Movers
Top 25 Stories
Top 20 Business Stories
Today in IBD
In Play
Bond Ticker
Economic Preview/Calendar
Daily Stock Events
Upgrades/Downgrades
Rasmussen Business/Economy Polling
Earnings of Note
Company/EPS Estimate
- (GLW)/.43
- (ANR)/.98
- (AGN)/.65
- (CAH)/.70
- (PG)/1.00
- (SEE)/.39
- (NEM)/.43
- (MGM)/.32
- (PX)/1.07
- (SPW)/1.65
- (ODP)/.07
- (HES)/2.45
- (AG)/.78
- (MCO)/.41
- (CMCSA)/.22
- (AET)/1.12
- (KFT)/.43
- (Q)/.10
- (BWA)/.55
- (MXIM)/.27
- (CA)/.38
- (PRU)/.78
- (HIG)/-.91
- (
- (OI)/.85
- (V)/.56
- (CME)/3.95
- (FSLR)/1.00
- (ITRI)/.80
- (SYMC)/.35
- (JNY)/.33
- (K)/.81
- (TSO)/1.57
Economic Releases
8:30 am EST
- Durable Goods Orders for September are estimated to fall 1.1% versus a 4.8% decline in August.
- Durables Ex Transports for September are estimated to fall 1.5% versus a 3.3% decline in August.
10:23 am EST
- Bloomberg consensus estimates call for a weekly crude oil inventory build of +1,550,000 barrels versus a +3,182,000 barrel increase the prior week. Gasoline supplies are estimated to rise by +1,500,000 barrels versus a +2,709,000 barrel increase the prior week. Distillate inventories are expected to rise by +1,050,000 barrels versus a +2,156,000 barrel build the prior week. Finally, Refinery Utilization is estimated to rise by +.5% versus a +2.51% increase the prior week.
2:15 pm EST
- The FOMC is expected to cut the benchmark Fed Funds rate to 1.0% from 1.5%.
Upcoming Splits
- (BKE) 3-for-2
Other Potential Market Movers
- The weekly MBA mortgage applications report, (KCI) analyst day, Sidoti Emerging Growth Forum and BIO Investor Forum could also impact trading today.
BOTTOM LINE: Asian indices are sharply higher, boosted by technology and financial stocks in the region. I expect
Stocks Finish Sharply Higher, Boosted by Airline, Retail, REIT, Financial, Commodity, Technology, Homebuilding and Telecom Shares
Market Summary
Top 20 Biz Stories
Today’s Movers
Market Performance Summary
WSJ Data Center
Sector Performance
ETF Performance
Style Performance
Commodity Movers
Market Wrap CNBC Video(bottom right)
S&P 500 Gallery View
Timely Economic Charts
GuruFocus.com
PM Market Call
After-hours Commentary
After-hours Movers
After-hours Real-Time Stock Bid/Ask
After-hours Stock Quote
After-hours Stock Chart
In Play
Stocks Soaring into Close on Less Financial Sector Pessimism, Short-Covering and Bargain-Hunting
Today's Headlines
- World Is ‘Drowning in Oil’(Again) After Drought.
Wall Street Journal:
NY Post:
- Competitive Costs Give Hydropower New Spark.
Les Echos:
- Ian Stannard, a currency strategist at BNP Paribas SA, said the euro may fall to $1.17 at the end of the year, $1.07 in the first quarter of 2009 and to $1 “soon,” citing an interview. The euro will drop because it’s harder to make economic and political decisions in the face of the crisis in
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The National:
Bear Radar
Style Underperformer:
Small-cap Growth (+.26%)
Sector Underperformers:
Alternative Energy (-2.26%), I-Banks (-1.88%) and Gaming (-1.64%)
Stocks Falling on Unusual Volume:
RCII, RNT, WHR, ICLR, ECOL, BWLD, CRDN, PFWD, KNDL, AUXL, WYNN, DRYS, CR, USG, UHS, ACL, KSU and WHR
Stocks With Unusual Put Option Activity:
1) ATVI 2) ACF 3) USG 4) PRC 5) TSN