Monday, October 01, 2018

Bear Radar

Style Underperformer:
  • Small-Cap Growth -1.0%
Sector Underperformers:
  • 1) Airlines -2.2% 2) Networking -2.2% 3) Restaurants -.7%
Stocks Falling on Unusual Volume: 
  • INSM, RYAAY, CSBR, VICR, APPN, NKTR, CAMP, DOCU, DXCM, PGTI, CALM, TRUP and SERV
Stocks With Unusual Put Option Activity:
  • 1) AVEO 2) URBN 3) GME 4) NKTR 5) PEP
Stocks With Most Negative News Mentions:
  • 1) INFN 2) SHLO 3) CALM 4) REVG 5) MEI
Charts:

Bull Radar

Style Outperformer:
  • Large-Cap Growth +.6%
Sector Outperformers:
  • 1) Energy +2.0% 2) Road & Rail +1.4% 3) Steel +1.3%
Stocks Rising on Unusual Volume:
  • SBLK, GE, NTGN, AMRN, WSC, BOJA, EEFT, SLDB, MGA, MDCO, PYX, CNQ, VIAV, AVD, TSLA, DVA, SFIX, CBMG, AVLR, BHC, VRA, MEOH, ARA, VRTV and CLAR
Stocks With Unusual Call Option Activity:
  • 1) SHPG 2) XHB 3) DXJ 4) NKTR 5) GILD
Stocks With Most Positive News Mentions:
  • 1) SGEN 2) ROKU 3) WSC 4) KSU 5) MDCO
Charts:

Morning Market Internals

NYSE Composite Index:

Sunday, September 30, 2018

Monday Watch

Today's Headlines
Bloomberg:          
  • Asian Stocks See a Muted Start; Oil Ticks Higher. Stocks in Asia kicked off the final quarter in muted fashion, in a holiday-affected start to the week. Volumes are likely to be thin Monday, with Labor Day in Australia, Hong Kong’s market shut and China’s closed through Oct. 7. Japan’s two main equity benchmarks opened mixed, while holiday-hit Australian stocks started with small losses, and Korea’s benchmark was up. S&P 500 Index futures climbed after the benchmark saw the best quarter since 2013. Oil extended gains on concern of an impending supply crunch. U.S. 10-year Treasury yields ticked higher, to 3.07 percent. The Canadian dollar rose as the U.S. and Canada engaged in last-minute negotiations to update Nafta by Sunday’s deadline. Nikkei 225 rose 0.1 percent and Topix Index fell 0.3 percent. Kospi gained 0.3 percent. S&P 500 Index futures gained 0.3 percent with the benchmark closing flat on Friday.
MarketWatch.com:
Night Trading
  • Asian indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 80.25 -.5 basis point.
  • Asia Pacific Sovereign CDS Index 9.0 -.25 basis point.
  • Bloomberg Emerging Markets Currency Index 66.89 unch.
  • FTSE 100 futures -.25%
  • S&P 500 futures +.37%.
  • NASDAQ 100 futures +.47%.

Earnings of Note
Company/Estimate
Before the Open:
  • (CALM)/.45
After the Close:
  • (SFIX)/.04
Economic Releases
10:00 am EST
  • Construction Spending MoM for August is estimated to rise +.5% versus a +.1% gain in July. 
  • ISM Manufacturing for September is estimated to fall to 60.0 versus 61.3 in August.
  • ISM Prices Paid for September is estimated to fall to 71.4 versus 72.1 in August.
Afternoon
  • Wards Total Vehicle Sales for Sept. are estimated to rise to 16.9M versus 16.6M in August.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The Fed's Rosengren speaking, Fed's Bostic speaking, Eurozone PMI report, Eurozone Unemployment Rate report, Cantor Fitzgerald Healthcare Conference and the (BABA) analyst day could also impact trading today.
BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and technology shares in the region. I expect US stocks to open modestly higher and to maintain gains into the afternoon.  The Portfolio is 100% net long heading into the week.

Weekly Outlook

BOTTOM LINE: I expect US stocks to finish the week modestly higher on technical buying, diminishing trade war fears, less emerging markets currency/debt angst, stable long-term rates, yen weakness and oil gains. My intermediate-term trading indicators are giving neutral signals and the Portfolio is 100% net long heading into the week.

Saturday, September 29, 2018

Today's Headlines

Barron's:
  • Had bullish commentary on (HAS), (ILMN), (CERN), (XRAY), (BDX), (DHR), (TMO), (URI), (VMC), (JEC) and (COWN).
  • Had bearish commentary on (TRUP).
Zero Hedge: