Bear Radar

Style Underperformer:

• Large-Cap Value (+1.21%)

Sector Underperformers:

• 1) Banks -.44% 2) Coal +.67% 3) Hospitals +.67%

Stocks Falling on Unusual Volume:

• SBAC, AMT, VDSI, ICFI, CELL, TNDM, RURL, FFIV, PRMW, ROST, CCC, SSI, CCI and AGNC
  

Stocks With Unusual Put Option Activity:

• 1) SVU 2) STI 3) S 4) KBE 5) KRE
  

Stocks With Most Negative News Mentions:

• 1) LULU 2) MHS 3) GM 4) AGU 5) PETM

Charts:

• ETFs Falling on Unusual Volume
• Stocks Falling on Unusual Volume
  

Bull Radar

Style Outperformer:

• Small-Cap Growth (+2.18%)

Sector Outperformers:

• 1) Gaming +2.91% 2) Semis +2.79% 3) Education +2.69%

Stocks Rising on Unusual Volume:

• SNCR, CHU, OXPS, VRGY, LEAP, NTES, VOD, TIF, GBX, PBY, RECN, VOLC, GHL, SPWRA, PCS, BWS, EXH, DGIT, GPOR, CRM, DXCM, COH, MTZ, ALEX, SSYS, CPO, UIS, UAM, GOOG, HRS and KEX
  

Stocks With Unusual Call Option Activity:

• 1) HRBN 2) XNPT 3) SPG 4) S 5) USU
  

Stocks With Most Positive News Mentions:

• 1) APWR 2) ACM 3) EXH 4) AWI 5) HRS

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume
  

Monday Watch

Weekend Headlines
Bloomberg:

• Allies Expand Attack as Qaddafi Vows to Repel 'Christian States'. Allied officials said their attacks have effectively grounded Muammar Qaddafi’s air force, adding that they are not targeting the Libyan leader himself. Vice AdmiralBill Gortney told reporters at the Pentagon yesterday that Libya’s military had not flown an aircraft in two days and the coalition is in full control of airspace. It was possible that a Libyan jet or helicopter would still take off but it would be targeted by coalition patrols over the country, he said. Qaddafi denounced the coalition allied against him -- including the U.S., the U.K. and France -- as “the party of Satan” after Tomahawk missiles were fired at Libyan targets and fighter jets patrolled the North African country’s skies. The military action continued with B-2 bombers attacking airfields and air-defense sites, CBS reported. “We will not leave our oil to America or France or Britain or the enemy Christian states that are now aligned against us,” the Libyan leader, who has ruled since 1969, said on state television yesterday. “We will not leave our land. We will fight for every inch of our land and liberate every inch of it.”
• Libyan Oil Chief Says Production Falls, 'Could Reach a Halt'. Libya’s oil production fell to less than 400,000 barrels a day after foreign companies pulled out their staff, the chairman of the country’s state-run National Oil Corp., Shokri Ghanem, said in a televised media conference from Tripoli. Ghanem said the North African country had no intention of breaking commitments with foreign companies and called on them to send their employees back to resume work. Libya may otherwise award new oil and gas concessions directly to companies in countries such as China, India and Brazil in order to raise production, which “could reach a halt,” he said.
• Oil Rises on Airstrikes Against Qaddafi, Further Unrest in Bahrain, Yemen. Oil climbed in New York after the U.S., U.K. and France launched cruise missiles and airstrikes at targets in Libya and as continuing unrest in the region renewed concerns the turmoil may spread and disrupt supplies. Futures advanced as much as 2.3 percent after Libyan leader Muammar Qaddafi vowed to repel allied forces pounding military installations. Ninety percent of Bahrain Petroleum Co.’s employees went on strike last week in response to a police crackdown on anti-government demonstrations, while Yemen declared a state of emergency on March 18. “Bahrain is more of the hotspot rather than Libya,” said Jonathan Barratt, managing director of Commodity Broking Services Pty in Sydney. “The focus will have to be on Saudi Arabia and Iran, that is where the powder keg is at the moment and it’s based on Bahrain.” Crude oil for April delivery gained as much as $2.28 to $103.35 a barrel, in electronic trading on the New York Mercantile Exchange, and was at $103.26 at 12:58 p.m. Sydney time.
• Allies' Lack of Exit Plan Risks Splitting Libya, Qaddafi Staying. Allied military leaders said the attack on Libya may end without dislodging Muammar Qaddafi, pointing to the risk of splitting up the country and the absence of a clear exit strategy, analysts said.
• Japan Atomic Crisis Eases as U.S. Says Worst May Be Over. Japan had some success cooling reactors at the crippled Fukushima Dai-Ichi plant, bringing two of the six reactors under control and connecting a second electric cable to the station, according to reports. Tokyo Electric Power Co., the operator, declared Units 5 and 6 safe after cooling water pumped into them reduced temperatures. An electric cable was hooked up to the No. 5 reactor, Kyodo News said, citing Tepco. U.S. Energy Secretary Steven Chu said the Obama administration believes the worst of the crisis is over.
• Death Toll From Japan Quake Eclipses Kobe as Tokyo Struggles to Move On. The death toll from Japan’s strongest earthquake on record eclipsed that of the 1995 Kobe temblor and foreign rescue workers began leaving as the chances of pulling survivors from the rubble faded. Police confirmed yesterday that at least 7,348 people died when the March 11 quake sent a surge of water inland, smashing ships, cars and buildings and razing entire towns.
• Toyota, Sony Disruptions May Last Weeks on Supplier, Power Supply Damage. Toyota Motor Corp. (7203) and Sony Corp. (6758), two of Japan’s biggest manufacturers, are facing worst-case scenarios of long-term production shortfalls as scores of plants remain closed and workers are idled in the aftermath of the March 11 earthquake and tsunami. “The current situation is still difficult,” Chisato Kitsukawa, a spokesman for Tokyo-based Sony, by phone yesterday. The company has shut eight plants in Miyagi, Ibaraki and Fukushima prefectures, and workers are inspecting equipment and facilities, he said. Toyota has said it will keep 21 auto and components plants closed until March 22. Sony and Toyota’s efforts to resume production are complicated by the need for hundreds of different components to build TVs and cars from a variety of different suppliers that may have suffered plant damage in the earthquake and tsunami. Japan is also facing electricity shortages because a nuclear- power plant was crippled by the temblor. “This will be played out not in days, but in weeks,” said John Hoffecker, head of the automotive practice at consulting firm AlixPartners LLP in Detroit. “Nothing on this scale has really occurred before.” Panasonic Corp. (6752), the nation’s biggest maker of batteries, has closed two plants in the area hit by the quake. It didn’t have an estimate for when production would resume, Akira Kadota, a spokesman, said by phone. Fujitsu Ltd. (6702), the maker of personal computers and home appliances, has closed 10 plants and it isn’t able to say when they will reopen, said Etsuro Yamada, a spokesman. Camera-maker Nikon Corp. (7731) is yet to decide when it will reopen four plants shut since the quake. Sharp Corp. is operating its Tochigi audiovisual products plant and several others at reduced hours to conserve power, Miyuki Nakayama, spokeswoman for the company, said by phone. Hitachi, Japan’s second-largest manufacturer by revenue, began receiving fuel at some of its plants, said Kenichiro Mizoguchi, a spokesman. Seven of its factories, including facilities for making elevators, car parts and home appliances, remain closed. The company’s air-conditioning unit factory in Tochigi prefecture is operating at reduced hours because of power shortages.
• Japan's BP(BP) Moment Troubles Global Economy: William Pesek. A week ago, before radiation fears prompted a mass exodus from Tokyo, a downturn was of the “if” variety. Japan’s prospects then dimmed with each passing day of blackouts and panicked news reports. The questions now are when the recession will officially begin, how bad it will be and when might it end? There’s this bizarre notion that Japan’s crisis is a non- event for the world economy -- that at just 9 percent of global gross domestic product, Japan’s zigs and zags mean little. And besides, it’s thought, the Group of Seven stepped in to cap the yen and all’s well again. Perhaps. Yet Japan’s near-term trajectory may surprise the global bulls out there. Many worry that aftershocks and rolling blackouts following the March 11 earthquake are with us indefinitely. That augurs poorly both for business investment and household spending for the remainder of 2011. Household savings may soar as Japanese worry about another huge temblor or tsunami. Events at two of Japan’s most fabled names -- Toyota Motor Corp. and Sony Corp. -- tell the story. Both face worst-case scenarios of long-term production shortfalls as scores of plants remain closed and workers are idled. And this will be playing out for weeks, if not months, to come as the nuclear reactors Japan Inc. took for granted stay offline.
• AT&T(T) Has to Fend Off Scrutiny to Win Nod for 'Unthinkable' T-Mobile Bid. AT&T Inc. (T)’s $39 billion purchase of T-Mobile USA, the biggest acquisition worldwide in almost a year, may take a year to gain regulators’ approval even if the carrier pledges to sell assets and expand rural coverage. The acquisition would push AT&T past its largest rival, Verizon Wireless, to become the biggest U.S. mobile-phone carrier. AT&T and T-Mobile combined have 39 percent of the market, according to research firm EMarketer Inc. The U.S. Federal Communications Commission and consumer groups may be concerned the deal will reduce competition and consumer choices, pushing up prices. AT&T anticipates regulators will require it to divest wireless spectrum and subscribers as a condition for approval, said a person with knowledge of the situation. A failure to complete the deal would mean AT&T may need to pay to a breakup fee of $3 billion and some spectrum, said two people with knowledge of the matter.
• ECB's Nowotny Says Bailout Fund No Solution for Country Problems. European Central Bank Governing Council member Ewald Nowotny said that the European bailout fund won’t solve the problems of some member states, Kleine Zeitung reported, citing an interview. “Nobody should claim we have a crisis of the euro,” Nowotny told the Austrian newspaper. “We have a crisis of the member states. Either because of too little productivity and too high debt or because of their banking systems. And these issues won’t be solved by the bailout fund.” The countries facing problems need to “put their budgets in order and if their bonds are risky, they will have to pay more interest on them,” the report cited Nowotny as saying. “These countries have to vow to be transparent and abandon egoism.” Nowotny also said that the catching-up process of the economically weaker countries in the euro zone “is taking much longer than we had anticipated,” Kleine Zeitung reported.
• Bond Sales Stifled by Debt Crisis, Japanese Threat: Euro Credit. Companies are selling the fewest bonds in euros since 2008 as the failure of European politicians to resolve the debt crisis, protests in the Middle East and Japan's unfolding nuclear disaster push up borrowing costs. Investment-grade borrowers sold 122.9 billion euros of bonds this year, down from 191 billion euros in the same period of 2010, with companies from Europe's most indebted nations bearing the brunt.
  
• Ireland's Hayes Irish Banking Crisis a 'European-Wide Problem'. Brian Hayes, Ireland’s junior minister for public service reform, said the country’s banking crisis is a “European-wide problem” and that the European Union has a “responsibility to help” solve it. “Part of the problem was created by Europe, by cheap money coming into this country, but a lax regulatory system across the euro zone,” Hayes said in an interview with Dublin-based broadcaster RTE Radio today. “They have a responsibility to help us solve this problem. I think we’re getting that message through right now.” The government is unlikely to have an outcome on its aim to share the burden of banking losses with bondholders before the results of central bank stress tests of lenders are published on March 31, he said. Ireland “can’t take some kind of unilateral action,” he said.
• Atomic Fuel Stored at U.S. Plants Poses Risks Similar to Japan Facilities. U.S. nuclear power plants that store thousands of metric tons of spent atomic fuel pose risks of a crisis like the one unfolding in Japan, where crews are battling to prevent a meltdown of stored fuel, nuclear safety experts said. U.S. nuclear plants had an estimated 63,000 metric tons (138.9 million pounds) of spent fuel stored on site as of January 2010, according to a report from the U.S. Nuclear Regulatory Commission. About 2,000 metric tons a year is expected to be added to that total, the NRC said.
• Lipsky Says Advanced-Nation Debt Risks Future Crisis as Yields Set to Rise. The mounting debt burden of the world’s most developed nations, set for a post-World War II record this year, is unsustainable and risks a future fiscal crisis, the International Monetary Fund’s John Lipsky said. The average public debt ratio of advanced countries will exceed 100 percent of their gross domestic product this year for the first time since the war, Lipsky, the IMF’s first deputy managing director, said in a speech at a forum in Beijing today. “The fiscal fallout of the recent crisis must be addressed before it begins to impede the recovery and create new risks,” said Lipsky.
• Bahrain Shia Village Treats Injured Protesters in Homes Amid Arrest Fears. Bahraini security forces pushed into the Shiite village of Karzakan as part of the government’s efforts to quell more than a month of unrest in the Persian Gulf island nation. About 12 young men were injured yesterday when police fired tear gas and birdshot pellets at them, said Jasim Marzooq, a nurse who witnessed the incursion. “We treat the wounded in homes, they are afraid of being arrested if they go to hospitals,” Marzooq said in an interview.
• Saudi Activist Says Protesters Detained After Rally. Saudi demonstrators gathered outside the Interior Ministry in the morning demanding the release of political prisoners held without trial, Mohammed al- Qahtani, a Riyadh-based activist, said by phone. Al-Qahtani, who is the head of the Saudi Civil and Political Rights Association, said he saw police detain about half of the estimated 100 protesters and place them on buses. A similar rally was held on March 13. “The police ordered them to leave or risk arrest,” said al-Qahtani.
• Debt Insurance Costs Increase on Protest Risk: China Credit. The cost of insuring China's dollar debt from losses has risen above that for the UK and Chile this year as interest rates jump, protests against the government increase and on concern banks' bad debts will climb. Five-year credit-default swaps for China, which as been controlled by the Communist Party since 1949, climbed 6 basis points this year to 74, according to CMA prices in NY. That's up from a two-year low of 52.0 on Oct. 13, before policy makers stepped up monetary tightening to damp increases in costs of food and housing. A Fitch Ratings gauge signals that there's a 60% chance of a banking crisis in China by mid-2013, raising the odds of a government bailout after record lending in the last two years. In 1999 state asset-management companies started buying about 1.4 trillion yuan of bad loans from the nation's four biggest banks, a legacy of decades of government-directed lending to unprofitable state-owned enterprises. "Weaker purchasing power increases the probability of social unrest and puts the economy at risk, hence the higher credit-default swap levels," said Tobias Bettkober, who manages $500 million of global bonds at Holinger Asset Management AG in Zurich. China deployed hundreds of police in Beijing and Shanghai earlier this month after online activists called for nationwide "Jasmine" rallies to demand the Communist Party combat corruption, promote an independent judiciary and address income inequality. "Mass incidents," which include everything from strikes to riots and demonstrations, doubled from 2006, rising to at least 180,000 cases in 2010, Sun Liping, a professor of sociology at Beijing's Tsinghua University, the nation's top academic institution, said. The extra yield on China's debt has risen 27 basis points this year to 153 basis points more than U.S. Treasuries.
• One-Year High Overnight-Rate Spurred by Inflation: India Credit. India's money-market rates are climbing to their highest level in a year on speculation money supply will tighten after the central bank signaled Asia's most aggressive pace of interest-rate increases will continue. The overnight call-money rate advanced 58 basis points, or .58 percentage point, the biggest increase since November, to 7.58% last week, according to data compiled by Bloomberg.
• Japan May Take Five Years to Rebuild After Quake, World Bank Says. The World Bank said it may take five years for Japan to rebuild after this month’s earthquake and tsunami, which killed at least 8,450 and destroyed thousands of buildings. The automotive and electronics industries are likely to be most affected, it added.
• Bankers Not Hearing Calls for Bonus Restraint, Barnier Tells FT. European Union Financial Services Commissioner Michel Barnier said some bankers haven’t heard “the calls for moderation” on bonuses and “haven’t understood” the importance of the issue, the FT reported, citing an interview. The application of new EU-wide rules governing bankers’ bonuses “hasn’t been adequate,” Barnier also said, the FT reported. Barnier plans to address the issue, firstly, through the EU, which will be studying whether the new rules were applied correctly, and secondly, through France’s presidency of the Group of 20 leading economies, where Barnier said he intends to “pose questions to finance ministers,” according to the FT.
• Hedge Funds Slash Bullish Commodity Bests Most in Eight Months. Hedge funds cut their bullish bets on commodities by the most for any week since June as Japan's nuclear crisis threatened the global economic recovery. In the week ended March 15, an index of managed-money net-long positions in 18 commodities tumbled 14% from a week earlier to 1.27 million U.S. futures and options contracts, Bloomberg data show. That's the biggest drop since the week ended June 29, and the smallest net-long holdings since early August.
  

Wall Street Journal:

• Allies Press Libya Attacks. Airstrikes Boost Rebel Forces; U.S. Lauds Efforts, but Some Partners Show Unease.
• U.S. Eyes Gadhafi Terror Response. U.S. intelligence agencies are watching for signs that a desperate Col. Moammar Gadhafi, under attack from a coalition air assault, could resort to acts of terrorism against Western targets. Col. Gadhafi has extensive stockpiles of mustard gas and high explosives at his disposal that could be used in attacks against targets in Europe or against his own people. He also has a documented history of orchestrating strikes against civilians and other world leaders. "U.S. officials are keeping an eye on that possibility," one U.S. official said.
• GM(GM) Halts 'Nonessential' Spending Globally Due to Japan Crisis. General Motors Co. has halted all nonessential spending and travel while it gets a better handle on the potential impact of Japan's crisis on the company, the auto maker said Saturday. GM Chairman and Chief Executive Dan Akerson sent a companywide notice asking to hold off on any expenses that aren't critical, a company spokesman said. GM has been the most vocal of Detroit's auto makers in voicing concerns about the magnitude of potential supply chain troubles in the wake of Japan's disaster.
• U.S. Coal Miners Set to Profit as Fears Rise Over Nuclear Power. U.S. coal companies are poised to benefit from a move away from nuclear energy because of concerns raised by the severe crisis at reactors in Japan. More coal from the Appalachian mountains in the eastern U.S. will be routed to European power plants to replace an electricity shortfall in Germany, which this week issued a three-month ban on operations at seven old nuclear reactors.
• Nasdaq(NDAQ) Bid for NYSE(NYX) Would Face Antitrust Tangle. Nasdaq OMX Group Inc.'s potential hostile bid for NYSE Euronext would face substantial antitrust questions in the U.S., where it would merge two direct competitors and create a monopoly in the market for corporate listings, according to antitrust lawyers. Much will depend on how a bid might be structured, but antitrust experts see few palatable options for Nasdaq to allay concerns that the deal will harm competition.
• Promise on Taxes Sparks GOP Rift. Two decades after President George H.W. Bush abandoned his "read my lips" promise, some Republicans are chafing at their party's stand against new taxes. A few prominent GOP lawmakers believe they will have to raise some tax revenue if they are to bring Democrats along on a bipartisan compromise to address the U.S.'s long-term fiscal problems. Many Democrats want higher taxes to cover at least part of future budget gaps. That has led to clashes between Republican lawmakers and a Washington advocacy group, Americans for Tax Reform, the self-appointed keeper of the party's anti-tax flame. Grover Norquist, the group's president, said he has "sent up a flare" against placing trust in Democrats, given how bipartisan agreements, including the one struck by then-President Bush in 1990, eventually unraveled. Those tax increases took effect as scheduled, but Democrats didn't always deliver on promised spending cuts, Mr. Norquist said. Raising taxes will only deflect needed spending cuts, said GOP senators including Charles Grassley of Iowa and John Barrasso of Wyoming. "If you send more money to Washington, all they're going to do is spend it," Mr. Barrasso said.
• With Sales Flabby, Wal-Mart(WMT) Turns to Its Core. After attempting to appeal to a wider variety of shoppers backfired, discount giant Wal-Mart Stores Inc. now is mired in its worst U.S. sales slump ever. But William Simon, the former Navy officer put in charge of the flagging U.S. division last June, says he is confident that the lumbering giant can reverse its fortunes after seven consecutive quarters of domestic sales declines at stores open at least a year. Part of his strategy includes returning to the "Every Day Low Prices" formula Wal-Mart popularized.
• Democrats Split on Social Security. Democrats have broken ranks over a move to consider Social Security changes—including possibly raising the retirement age—to ensure its long-term fiscal health in combination with an effort to reach a deficit-reduction package. The idea of putting Social Security into play has triggered a firestorm of opposition from several corners of the Democratic party.
• AIG(AIG), Fed in Subprime-Bond Standoff. American International Group Inc. is trying to force the hand of the Federal Reserve on a large portfolio of subprime-mortgage bonds it wants to repurchase, putting the central bank in the position of weighing taxpayers' interests against those of the government-controlled insurer.

Bloomberg Businessweek:

• CBO: Obama Understates Deficits by $2.3 Trillion. A new assessment of President Barack Obama's budget released Friday says the White House underestimates future budget deficits by more than $2 trillion over the upcoming decade. The estimate from the nonpartisan Congressional Budget Office says that if Obama's February budget submission is enacted into law it would produce deficits totaling $9.5 trillion over 10 years -- an average of almost $1 trillion a year. Obama's budget saw deficits totaling $7.2 trillion over the same period. The difference is chiefly because CBO has a less optimistic estimate of how much the government will collect in tax revenues, partly because the administration has rosier economic projections. But the agency also rejects the administration's claims of more than $300 billion of that savings -- to pay for preventing a cut in Medicare payments to doctors -- because it doesn't specify where it would come from. Likewise, CBO fails to credit the White House with an additional $328 billion that would come from unspecified "bipartisan financing" to pay for transportation infrastructure projects such as high speed rail lines and road and bridge construction.

CNBC:

• Citigroup(C) Unit Sued for $1.3 Billion by Lehman Trustee. The trustee overseeing the liquidation of Lehman Brothers Holdings' broker dealer has sued Citibank to recover more than $1.3 billion in cash and other assets.

IBD:

• Chipmaker Semtech(SMTC) Profits On Clients' Need For Speed.

Business Insider:

• Libya Live: Qaddafi's Compound Bombed, Son Khamis Reportedly Dead.
• AT&T/T-Mobile: Here Are The Biggest Winners and Losers.
• Syria in Chaos as Thousands of Protesters Storm Government Buildings and Burn Them.
• Gallup Finds U.S. Unemployment Rate at 10.2% in Mid-March. (graph)
• San Francisco's Pension Gap Is Truly Terrifying.
  

Zero Hedge:

• Japanese Metro Radiation Readings Spike Once Again, As Wind Turns Toward Land.
• A continuously updated spreadsheet of radiation counts over all prefectures.
• Gasoline Resumes Climb, Rises 6.65 Cents In Two Weeks, Hits $3.57/Gallon (And Almost $9/Gallon In Europe).
• Arab League Now Criticizes Western Attack on Libya.
• Stratfor On The Libyan War.
  

Institutional Investor:

• The Future Face of Hedge Funds.

CNN Money:

• What Has Economists Most on Edge: Oil Prices. The U.S. economy faces numerous obstacles that threaten to derail the recovery. But economists are most fearful of one major headwind: oil prices. More than two-thirds of the 23 economists surveyed by CNNMoney identified high oil prices as the most serious risk facing the economy.

Rasmussen Reports:

• Just 31% Now Give Obama Positive Marks for the Economy. A new Rasmussen Reports national telephone survey of Likely Voters show that just 31% rate Obama’s handling of economic issues as good or excellent. Forty-five percent (45%) say the president is doing a poor job handling these issues.

Politico:

• John Boehner to President Obama: Define the Mission. House Speaker John Boehner said on Sunday that President Barack Obama must “better explain what America’s role” is in the Libya offensive before further military action is taken. It was the speaker’s first public remarks since the U.S. and allies launched an air and sea attack on Col. Moammar Qadhafi on Saturday.

Market News International:

• Tokyo Electric Power Co. workers won't be able to switch on power at damaged reactors at the Fukushima plant for another two to three days, citing Tepco. Destroyed parts need to be replaced.

AP:

• Radioactive iodine found in drinking water in Fukushima prefecture was above the government-recommended limit, citing Japanese officials.
• Masked Men Open Fire in Acapulco Bar, Killing 10. Six men and a women were found dead in other parts of Acapulco on Friday night, one of them decapitated.

Reuters:

• Radioactive dust and particles were found in the greater Tokyo area, citing the government. The particles were detected over a 24-hour period starting on the morning of March 18.
• UK Reforms Could Cost Banks Up to 15 Bln Pounds - Paper. Making UK banks restructure their operations by splitting their retail and investment arms could cost the nation's big five lenders up to 15 billion pounds($24 billion) a year, according to a report in the Sunday Telegraph quoting a study.

Telegraph:

• Obama Says US To Be Major Purchaser of Brazilian Oil. Mr Obama spoke of the US's desire to secure more of its oil from Brazil in future after talks with his counterpart, President Dilma Rousseff, in Brasilia at the start of a two-day visit to Latin America's biggest country. "I have told her that the United States wants to be a major customer, which can be a win-win for both our countries," he said. Brazil possesses some of the world's biggest offshore oil reserves in the pre-salt area off its south-east coast.

The Guardian:

• Google(GOOG) Accuses China of Interfering with Gmail Email System. Chinese government's crackdown on activists thought to be behind what Google calls 'politically motivated attacks'. Google has accused the Chinese government of interfering with its popular Gmail email system. The move follows extensive attempts by the Chinese authorities to crack down on the "jasmine revolution" – an online dissident movement inspired by events in the Middle East. According to the search giant, Chinese customers and advertisers have increasingly been complaining about their Gmail service in the past month. Attempts by users to send messages, mark messages as unread and use other services have generated problems for Gmail customers.

Der Standard:

• The European Union will pass a decree that freezes the assets of Libya's National Oil Corp. in the "coming days," citing people in the European Commission. The decree will also ban business contacts with the company, also known as NOC.

O Estado de S. Paulo:

• The Brazilian President Dilma Rousseff will "soon" take measure against inflation, citing vice-president Michel Temer. Temer said the government may expand next week the talks on the macroprudential measures to be announced.

NHK:

• Live Japanese News Broadcast in English.

Kyodo News:

• The levels of radiation detected in spinach grown in Ibaraki Prefecture, north of Tokyo, were 12 times the provisional regulatory limits, citing the local government. The spinach was grown in the town of Kitaibaraki, near the border of Fukushima Prefecture.
• Japanese Self Defense Forces resumed spraying water on the No. 4 reactor at Tokyo Electric Power Co.'s Fukushima Dai-Ichi nuclear plant at 6:37 a.m. local time today.
• A workers at Tokyo Electric Power Co.'s Fukushima Dai-Ichi nuclear plant was exposed to more than 150 millisieverts of radiation, citing Japan's nuclear safety agency.
  

Yomiuri:

• Group of Seven nations spent between 2 trillion yen and 2.5 trillion yen to push down the value of the Japanese yen in the first coordinated intervention in the currency maker in more than a decade last week.
• China turned away Japanese plane cargo at the Dalian airport because authorities said the loads had radiation levels that exceeded limits, citing Japan's land ministry.
  

Caijing:

• China's consumer price gains will be high in the first half and lower in the second half, citing Zhang Yutai, director of the Development Research Center of the State Council. The country faces relatively large pressure from consumer price increases, citing Zhang.

China Economic Net:

• China will extend its pilot resource tax program to cover coal and power, from oil and natural gas currently, citing Jia Kang, head of the Ministry of Finance's research institute. The government will also extend the program to central China from western provinces.
• China "has room" to further raise the bank reserve requirement ratio, citing Lu Zhongyuan, a deputy director of the Development Research Center under the State Council. The country may adopt other measures such as increasing interest rates to tackle inflation, Lu said.
  

China National Radio:

• The March 11 earthquake that struck Japan may cut Chinese growth by .5 percentage point should Japanese companies halt production for a month, citing Zhang Yansheng, a researcher with an institute under the National Development and Reform Commission. Chinese companies that rely on Japan-made parts, such as semiconductor components, are especially vulnerable, Zhang said.

Weekend Recommendations
Barron's:

• Made positive comments on (SVU).

Citigroup:

• Reiterated Buy on (GOOG), Top Picks Live List, target $750.

Night Trading

• Asian indices are unch. to +1.0% on average.
• Asia Ex-Japan Investment Grade CDS Index 116.0 +4.5 basis points.
• Asia Pacific Sovereign CDS Index 117.50 -4.5 basis points.
  
• S&P 500 futures +.58%.
• NASDAQ 100 futures +.47%.

Morning Preview Links

Earnings of Note
Company/Estimate

• (TIF)/1.39

Economic Releases
10:00 am EST

• Existing Home Sales for February are estimated to fall to 5.11M versus 5.36M in January.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Chicago Fed National Activity Index for February and the $32 Billion 3-Month/$30 Billion 6-Month Treasury Bills Auctions could also impact trading today.
  

BOTTOM LINE: Asian indices are mostly higher, boosted by commodity and financial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the week.

Weekly Outlook

U.S. Week Ahead by MarketWatch (video).
Wall St. Week Ahead by Reuters.
Stocks to Watch Monday by MarketWatch.
Weekly Economic Calendar by Briefing.com.

BOTTOM LINE: I expect US stocks to finish the week mixed as Japan concerns, Mideast unrest, emerging market inflation worries and more shorting offset buyout speculation and mostly positive economic data. My intermediate-term trading indicators are giving neutral signals and the Portfolio is 75% net long heading into the week.

Market Week in Review

S&P 500 1,279.21 -1.92%*



The Weekly Wrap by Briefing.com.

*5-Day Change

Weekly Scoreboard*

Indices

• S&P 500 1,279.21 -1.92%
  
• DJIA 11,858.53 -1.54%
  
• NASDAQ 2,643.67 -2.65%
  
• Russell 2000 794.66 -1.02%
  
• Wilshire 5000 13,373.40 -1.78%
  
• Russell 1000 Growth 581.20 -2.30%
  
• Russell 1000 Value 655.96 -1.39%
  
• Morgan Stanley Consumer 737.42 -1.81%
  
• Morgan Stanley Cyclical 1,062.99 -.42%
• Morgan Stanley Technology 653.95 -3.35%
  
• Transports 5,055.95 -1.39%
  
• Utilities 400.18 -4.26%
  
• MSCI Emerging Markets 45.37 -1.05%
  
• Lyxor L/S Equity Long Bias Index 1,026.50 -2.88%
  
• Lyxor L/S Equity Variable Bias Index 865.25 -2.77%
  
• Lyxor L/S Equity Short Bias Index 646.87 +2.52%
  

Sentiment/Internals

• NYSE Cumulative A/D Line +117,197 -.74%
  
• Bloomberg New Highs-Lows Index +31 +7
  
• Bloomberg Crude Oil % Bulls 56.0 +33.3%
  
• CFTC Oil Net Speculative Position +254,568 -7.63%
  
• CFTC Oil Total Open Interest 1,580,632 +.51%
  
• Total Put/Call .98 -9.26%
  
• OEX Put/Call 1.15 -36.11%
  
• ISE Sentiment 88.0 -16.19%
  
• NYSE Arms 1.07 +137.77%
  
• Volatility(VIX) 24.44 +21.71%
• G7 Currency Volatility (VXY) 11.57 +11.04%
  
• Smart Money Flow Index 10,055.72 +.70%
  
• Money Mkt Mutual Fund Assets $2.750 Trillion n/a
  
• AAII % Bulls 28.49 -20.82%
  
• AAII % Bears 40.12 +24.13%

Futures Spot Prices

• CRB Index 351.15 -.21%
  
• Crude Oil 101.34 +.62%
  
• Reformulated Gasoline 296.30 -.82%
  
• Natural Gas 4.16 +6.85%
  
• Heating Oil 303.10 +.33%
  
• Gold 1,419.10 unch.
  
• Bloomberg Base Metals 262.39 +3.87%
  
• Copper 436.45 +3.22%
  
• US No. 1 Heavy Melt Scrap Steel 413.33 USD/Ton unch.
  
• China Hot Rolled Domestic Steel Sheet 4,736 Yuan/Ton +2.29%
  
• UBS-Bloomberg Agriculture 1,664.43 +.16%
  

Economy

• ECRI Weekly Leading Economic Index 130.40 -.38%
• S&P 500 EPS Estimates 1 Year Mean 94.34 +.08%
• Citi US Economic Surprise Index +63.30 -5.0 points
  
• Fed Fund Futures imply 56.0% chance of no change, 44.0% chance of 25 basis point cut on 4/27
• US Dollar Index 75.57 -1.57%
  
• Yield Curve 268.0 -8 basis points
  
• 10-Year US Treasury Yield 3.27% -13 basis points
  
• Federal Reserve's Balance Sheet $2.567 Trillion +.25%
  
• U.S. Sovereign Debt Credit Default Swap 41.86 -2.61%
• California Municipal Debt Credit Default Swap 206.50 -2.40%
  
• Western Europe Sovereign Debt Credit Default Swap Index 166.33 -8.77%
• Emerging Markets Sovereign Debt CDS Index 180.24 -2.99%
• Saudi Sovereign Debt Credit Default Swap 126.68 -2.22%
• Iraqi 2028 Government Bonds 90.21 -.22%
• 10-Year TIPS Spread 2.44% -2 basis points
  
• TED Spread 25.0 +1 basis point
  
• N. America Investment Grade Credit Default Swap Index 86.67 -.09%
  
• Euro Financial Sector Credit Default Swap Index 102.66 -15.04%
  
• Emerging Markets Credit Default Swap Index 216.37 +1.30%
  
• CMBS Super Senior AAA 10-Year Treasury Spread 211.0 +19 basis points
  
• M1 Money Supply $1.868 Trillion -1.63%
  
• Business Loans 620.0 +.45%
  
• 4-Week Moving Average of Jobless Claims 386,300 -1.80%
  
• Continuing Claims Unemployment Rate 3.0% unch.
  
• Average 30-Year Mortgage Rate 4.76% -12 basis points
  
• Weekly Mortgage Applications 510.70 -.68%
  
• Bloomberg Consumer Comfort -48.5 -4.0 points
  
• Weekly Retail Sales +2.0% unch.
  
• Nationwide Gas $3.54/gallon unch.
  
• U.S. Heating Demand Next 7 Days 12.0% below normal
• Baltic Dry Index 1,531 -1.98%
  
• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 42.50 -5.56%
  
• Rail Freight Carloads 216,828 +1.16%
  

Best Performing Style

• Small-Cap Value -.92%

Worst Performing Style

• Large-Cap Growth -2.30%

Leading Sectors

• Coal +7.11%
• Paper +3.66%
  
• Alt Energy +1.80%
• Tobacco +.86%
• Homebuilders +.61%

Lagging Sectors

• Gaming -4.0%
• Restaurants -4.0%
• Utilities -4.26%
  
• Education -4.35%
• Airlines -4.72%

Weekly High-Volume Stock Gainers (14)

• LZ, PANL, PRMW, NDN, VRA, SUP, AIRM, RCRC, NEU, MG, WSM, EBS, LDR and WBSN
  

Weekly High-Volume Stock Losers (18)

• MDSO, CORE, EXC, RUE, AMSC, TRH, TIF, VOLC, AFL, ETR, CW, BWC, GES, TNDM, FRP, MED, SHAW and BWS
  

Weekly Charts
ETFs

• High-Volume Gainers
• High-Volume Losers

Stocks

• High-Volume Gainers
• High-Volume Losers
  

*5-Day Change