Style Underperformer:
Large-Cap Growth (+.05%)
Sector Underperformers:
HMOs (-1.70%), Semis (-1.23%) and Road & Rail (-.70%)
Stocks Falling on Unusual Volume:
NTT, TKLC, NOK, SYNA, TKLC, AZZ and NLY
Stocks With Unusual Put Option Activity:
1) WAG 2) IVN 3) NKE 4) NOK 5) NLY
Portfolio Manager's Commentary on Investing and Trading in the U.S. Financial Markets
Tuesday, September 29, 2009
Bear Radar
Bull Radar
Style Outperformer:
Mid-Cap Growth (+.01%)
Sector Outperformers:
Education (+1.20%), Homebuilders (+.89%) and Gaming (+.53%)
Stocks Rising on Unusual Volume:
GCI, WAG, MHP, BA, IAG, CVS, GR, ABT, PFE, MBT, ARCC, HBC, DDRX, CHBT, CVGW, NETL, EBIX, PRGO, WPRT, LAMR, GMCR, RAIL, SNDA, HITK, DWA, GOLD, PERY, ATHN, SINA, PODD, BRCM, CTRP, WNS, THO, ACS, BCA, CMG, MCO, AXR and GHL
Stocks With Unusual Call Option Activity:
1) DYN 2) CVS 3) BIIB 4) WAG 5) LO
Trading Links
BNO Breaking Global News of Note
Yahoo Most Popular Biz Stories
Briefing.com Stock Market Update
Stocks On The Move
Upgrades/Downgrades
StockCharts Market Performance Summary
Sector Performance
NYSE Unusual Volume
NASDAQ Unusual Volume
Hot Spots
Option Dragon
NASDAQ 100 Heatmap
Chart Toppers
CNBC Real-Time Intraday Quote/Chart
HFR Global Hedge Fund Indices
Monday, September 28, 2009
Tuesday Watch
Late-Night Headlines
Bloomberg:
- The steepest rally in the Standard & Poor’s 500 Index sine the 1930s is restoring Byron Wien’s reputation as a stock picker. Wien, hired by Blackstone Group LP last month, said he’s keeping his January forecast for a 33% annual gain in the benchmark index for US equities, implying a 13% advance from yesterday’s close. More than six months ago, the S&P 500 needed to rise 77% to reach Wien’s year-end prediction of 1,200. Wien says an economic recovery and earnings that exceed analysts’ forecasts will spur the stock market during the next three months. “To some extent it’s overbought, but I still think it has further to go,” he said. “You have to say that if investors were very pessimistic in March, they are much more optimistic now, but not at extreme levels. I don’t think we’ll have a 10% correction before the end of the year.” “T do think that M&A will be strong over the next few months,” Wien said. “Investors are confident and businessmen are confident, too. They see some attractive companies out there at attractive prices. And they’re willing to buy them.
Wall Street Journal:
- Eliminating defensive medicine could save upwards of $200 billion in health-care costs annually, according to estimates by the American Medical Association and others. The cure is a reliable medical malpractice system that patients, doctors and the general public can trust. But this is the one reform Washington will not seriously consider. That's because the trial lawyers, among the largest contributors to the Democratic Party, thrive on the unreliable justice system we have now. Almost all the other groups with a stake in health reform—including patient safety experts, physicians, the AARP, the Chamber of Commerce, schools of public health—support pilot projects such as special health courts that would move beyond today's hyper-adversarial malpractice lawsuit system to a court that would quickly and reliably distinguish between good and bad care. The support for some kind of reform reflects a growing awareness among these groups that managing health care sensibly, including containing costs, is almost impossible when doctors go through the day thinking about how to protect themselves from lawsuits. The American public also favors legal overhaul. A recent Common Good/Committee for Economic Development poll found that 83% of Americans believe that "as part of any health care reform plan, Congress needs to change the medical malpractice system." Congress now realizes it can't completely stonewall legal reform. But what has unfolded so far is a series of vague pronouncements and token proposals—all of which assiduously avoid any specific ideas that might offend the trial bar. Here are some examples:
MarketWatch.com:
- Looks like the gold bugs had reason to be wary when gold broke through $1000. But now it's back down, they're not particularly worried.
Business Week:
- MBA Pay: Riches for Some, Not All.
CNNMoney.com:
Politico:
Forbes:
AP:
Financial Times:
Yonhap News:
-
The Australian:
Late Buy/Sell Recommendations
Citigroup:
- Our eps estimates for (DO), (ESV), (HERO) and (RDC) are lowered on reduced dayrate expectations for the US Gulf of Mexico. Recent contract signings by HERO and ESV suggest jack-up dayrates have or soon will approach breakeven. This is meaningfully below our prior expectations. A recovery is not yet foreseeable and dayrates are expected to remain depressed next year.
Oppenheimer:
- Rated (CPLA) Outperform, target $78.
- Rated (STRA) Outperform, target $250.
Night Trading
Asian Indices are +.25% to +2.0% on average.
Asia Ex-Japan Inv Grade CDS Index 115.50 +6.0 basis points.
S&P 500 futures +.05%.
NASDAQ 100 futures -.01%.
Morning Preview
BNO Breaking Global News of Note
Yahoo Most Popular Biz Stories
MarketWatch Pre-market Commentary
US AM Market Call
NASDAQ 100 Pre-Market Indicator/Heat Map
Pre-market Stock Quote/Chart
WSJ Intl Markets Performance
Commodity Futures
IBD New America
Economic Preview/Calendar
Earnings Calendar
Who’s Speaking?
Upgrades/Downgrades
Politico Headlines
Rasmussen Reports Polling
Earnings of Note
Company/EPS Estimate
- (WAG)/.39
- (JBL)/.08
- (NKE)/.97
- (DRI)/.66
- (MDRX)/.14
- (MU)/-.18
Economic Releases
10:00 am EST
- Consumer Confidence for September is estimated to rise to 57.0 versus 54.1 in August.
Upcoming Splits
- None of note
Other Potential Market Movers
- The Fed’s Fisher speaking, Fed’s Plosser speaking, S&P/CS Home Price Index, weekly retail sales reports, API Energy Inventories, Deutsche Bank Leveraged Finance Conference, Merrill Banking/Insurance Conference, (FISV) Investor Conference and the ABC Consumer Confidence reading could also impact trading today.
BOTTOM LINE: Asian indices are higher, boosted by technology and energy shares in the region. I expect US equities to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
Stocks Finish Higher, Boosted by REIT, Insurance, Hospital, Financial and Technology Shares
Evening Review
BNO Breaking Global News of Note
Yahoo Most Popular Biz Stories
Today’s Movers
StockCharts Market Performance Summary
WSJ Data Center
Sector Performance
ETF Performance
Morningstar Style Performance
Commodity Futures
S&P 500 Gallery View
Timely Economic Charts
Most Recent Guru Stock Picks
CNN PM Market Call
After-hours Stock Commentary
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After-hours Stock Quote
After-hours Stock Chart