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Friday, July 18, 2008
Fri, Jul 18 at 11:55 PM
Friday, July 18, 2008
A Mixed Batch Of Earnings Reports
Good morning. A mixed batch of earnings reports and another drop in oil prices are in focus this Friday morning. We have no fresh economic data to consider beyond earnings. Premarket gainers:FNM, FRE, UAUA, C, MDVN, G, ACO, BRL, HON, COGO, SIRI, PNCL, WTS, CBST, SMA, SWKS, MAT, TPX, BCS, SPWR, GENC, FCSX, GDP, WB, WM, VSE, ALU, GSK, PCX, CS, & SNY.
Premarket losers: GOOG, ESLR, GILD, SGLP, AMD, AWK, ALO, TSL, WIT, CSGS, MAN, AMZN, RNWK, MSFT, MER, INDB, TEVA, BXS, GOLD, & ARTG.
Today's task frankly is simply to maintain the bulk of this week's gains and to work off some of the short-term overbought condition following this week's turnaround. We'll probably see some choppy trading activity today along with the typical rumor-driven trading we tend to see on all Fridays during the summer trading season. Have a great Friday (and even better weekend)!
* I'm making steady progress on the move (packing, getting rid of junk, showing our home to prospective buyers, etc.) which should allow more time for me to post next week. As always, I appreciate your patience during this transition.
Thursday, July 17, 2008
Thu, Jul 17 at 10:42 PM
Thursday, July 17, 2008
Relief Rally Underway
Good morning. The market is set up for a positive day following yesterday's long overdue relief rally.
Better-than-expected earnings results (see JPM, KO, UTX, & NOK) and a some positive economic data in the form of stronger than expected housing starts and weekly jobless claims have provided a positive bias. In addition, traders are looking for some positive flow after yesterday's key reversal from the bottom of the trend channel.
Premarket gainers:FRE, HURN, BRL, YHOO, JPM, FNM, CATS, ECOL, AMED, RDN, BRL, ABK, WM, BAC, NOK, CIT, HOG, HBAN, CY, RECN, WM, LEH, CCK, AMTD, ETFC, KMP, UTX, CELL, GPOR, CROX, & ERIC.
Premarket losers: EBAY, VIVO, VCLK, PLCM, KOG, UPL, UFPI, MSO, URI, JCI, XLNX, CSIQ, YUM, CCE, & CMC.
The last economic datapoint for this week arrives at 10:AM with the Philly Fed Survey. However, traders will be trying to position ahead of some big earnings reports after the closing bell from Google (GOOG), International Business Machines Corporation (IBM), & Microsoft (MSFT) among others. According to Bloomberg, earnings have surpassed analysts' estimates by an average of +6.9% for the 44 companies in the S&P 500 that have released second-quarter results so far.
Have a terrific Thursday!
Wednesday, July 16, 2008
Wed, Jul 16 at 09:02 PM
Wednesday, July 16, 2008
Earnings, Oil, Inflation, & Fear
Good morning. Premarket futures have been volatile this morning as investors sort through a batch of earnings reports that were for the most part not as bad as previously feared (WFC, INTC, ABT, CSX) and another drop in oil prices. However, a much higher than expected CPI has restrained overall premarket sentiment. Premarket gainers:ASYT, ANR, INTV, WFC, CXO, WLT, TSL, CSGP, FRE, ICOC, ALTR, LCC, WM, FNM, LEH, MEE, JAVA, BEAV, CIT, JRCC, INTC, & CHNR.
Premarket losers: NMX, CBI, FBN, OESX, ASML, NITE, STX, CRME, RBS, STX, PAC, INFA, BCS, CLF, & PDO.
Both Bernanke and economic data will keep traders busy today. At 9:AM we have the Treasury International Capital report, at 10:AM Bernanke will give his semiannual testimony before the House Financial Services Committee, and at 10:35 we have the weekly oil inventories report. This afternoon the housing market index comes out at 1:PM and the FOMC minutes at 2:PM. Indeed, another busy day with lots of data to ponder beyond earnings reports.
Have a wonderful Wednesday!
Tuesday, July 15, 2008
Tue, Jul 15 at 08:04 PM
Tuesday, July 15, 2008
Busy Day
Good morning. The market will face information overload with a number of economic data points, earnings, and speeches. So far, reaction to this morning's data is profoundly negative with premarket futures pointing to another negative open. Among other things, a higher than expected PPI, weak retail sales, another big drop in the U.S. dollar, and a gain in oil prices have pressured premarket sentiment.
Premarket gainers:CWTR, ESLR, SANM, BEXP, IKN, FHN, ETFC, PKD, SANM, BBX, SAF, AMED, AUY, JNJ, STT, WM, RMBS, & EXR.
Premarket losers: FNM, FRE, WB, NCC, CNB, FTEK, XING, KMB, AIG, CSIQ, BID, JASO, AXA, ING, LMC, C, IBN, ETN, HYGS, AIB, & UIS.
No doubt, Ben Bernanke will be on the hot seat and we'll see if he can calm down the market.
I don't have to tell you that a lot is going wrong at the moment and investors are preparing themselves for worst case scenarios now (i.e. total collapse of the banking and financial systems). Such behavior is creating opportunities out there, but few investors are willing to step up amid these headlines and interesting times we now find ourselves in. Technically, we are scraping against the bottom of the long-term trend channel in the S&P 500 but we need something to go right for a change for this constant sell pressure to end:
Have a terrific Tuesday! I'll be back when I can.
Monday, July 14, 2008
Mon, Jul 14 at 05:16 PM
Monday, July 14, 2008
Rescue Plan For Fannie & Freddie
Good morning. Premarket futures are in rally mode after the U.S. Treasury and Federal Reserve announce a rescue plan to save Fannie & Freddie. The news is timely considering that the FDIC was forced to seize IndyMac Bancorp on Friday (the bailout will cost the FDIC an estimated $4-8 billion).
In other news, traders are also watching lower energy prices, strength in the U.S. dollar, and that Anheuser-Busch accepted a acquisition offer from InBev after the Belgian company sweetened its offer to $70 per share.
Premarket gainers:FNM, FRE, LEH, CRME, TKC, RSG, STEI, RDN, CSIQ, SOLF, ATI, CMA, NTRI, ATI, MFA, WM, MBI, PHG, BUCY, WB, C, MER, GS, CIEN, RIMM, BAC, MER, CROX, & APWR.
Premarket losers: IMB, DTPI, CGV, GFIG, TUES, BGFV, FCSX, AMKR, INFY, NETL, LWSN, & ACGY.
The focus today will remain on government bailouts as we have no new economic data after the opening bell. Tomorrow, however, will be a busy on with the June PPI, retail sales, Empire manufacturing index and business inventories. Bernanke is scheduled to deliver his half-yearly update to Congress this week.
Along with bailouts and fresh economic data, Q2 earnings season will get rolling this week with 59 of the S&P 500 companies due to report. According to Thomson Reuters, Q2 earnings growth for the S&P 500 companies is expected at –14.7% as financials weigh down everything with the exception with positive gains in energy and technology.
The bailout news provides the market with a positive catalyst to work with this morning and to improve confidence further we need good news (especially in earnings outlooks and inflation data) to sustain a broad scale relief rally this week. Have a great Monday!
Here's the start of Feedwhip's latest snapshot
taken Sun, Jul 20 at 03:08 PM
[image: title.gif]
One pro's view of the stock market. Stock screens, market analysis, trading tools, stock research, investment ideas, portfolio analysis, trading lessons, investment commentary, trading tips, and more are provided by Charles E. Kirk.
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Friday, July 18, 2008
A Mixed Batch Of Earnings Reports
[image: 14.gif]Good morning. A mixed batch of earnings reports and another drop in oil prices are in focus this Friday morning. We have no fresh economic data to consider beyond earnings.Premarket gainers:FNM, FRE, UAUA, C, MDVN, G, ACO, BRL, HON, COGO, SIRI, PNCL, WTS, CBST, SMA, SWKS, MAT, TPX, BCS, SPWR, GENC, FCSX, GDP, WB, WM, VSE, ALU, GSK, PCX, CS, & SNY.
Premarket losers: GOOG, ESLR, GILD, SGLP, AMD, AWK, ALO, TSL, WIT, CSGS, MAN, AMZN, RNWK, MSFT, MER, INDB, TEVA, BXS, GOLD, & ARTG.
Today's task frankly is simply to maintain the bulk of this week's gains and to work off some of the short-term overbought condition following this week's turnaround. We'll probably see some choppy trading activity today along with the typical rumor-driven trading we tend to see on all Fridays during the summer trading season. Have a great Friday (and even better weekend)!
* I'm making steady progress on the move (packing, getting rid of junk, showing our home to prospective buyers, etc.) which should allow more time for me to post next week. As always, I appreciate your patience during this transition.
Posted by Kirk at 9:00 AM in Premarket | Bookmark | Feeds | Link |
Thursday, July 17, 2008
Relief Rally Underway
Good morning. The market is set up for a positive day following yesterday's long overdue relief rally.
Better-than-expected earnings results (see JPM, KO, UTX, & NOK) and a some positive economic data in the form of stronger than expected housing starts and weekly jobless claims have provided a positive bias. In addition, traders are looking for some positive flow after yesterday's key reversal from the bottom of the trend channel.
[image: S&P 500]
Premarket gainers:FRE, HURN, BRL, YHOO, JPM, FNM, CATS, ECOL, AMED, RDN, BRL, ABK, WM, BAC, NOK, CIT, HOG, HBAN, CY, RECN, WM, LEH, CCK, AMTD, ETFC, KMP, UTX, CELL, GPOR, CROX, & ERIC.
Premarket losers: EBAY, VIVO, VCLK, PLCM, KOG, UPL, UFPI, MSO, URI, JCI, XLNX, CSIQ, YUM, CCE, & CMC.
The last economic datapoint for this week arrives at 10:AM with the Philly Fed Survey. However, traders will be trying to position ahead of some big earnings reports after the closing bell from Google (GOOG), International Business Machines Corporation (IBM), & Microsoft (MSFT) among others. According to Bloomberg, earnings have surpassed analysts' estimates by an average of +6.9% for the 44 companies in the S&P 500 that have released second-quarter results so far.
Have a terrific Thursday!
Posted by Kirk at 9:29 AM in Premarket | Bookmark | Feeds | Link |
Wednesday, July 16, 2008
Earnings, Oil, Inflation, & Fear
[image: 428.gif]Good morning. Premarket futures have been volatile this morning as investors sort through a batch of earnings reports that were for the most part not as bad as previously feared (WFC, INTC, ABT, CSX) and another drop in oil prices. However, a much higher than expected CPI has restrained overall premarket sentiment.
Premarket gainers:ASYT, ANR, INTV, WFC, CXO, WLT, TSL, CSGP, FRE, ICOC, ALTR, LCC, WM, FNM, LEH, MEE, JAVA, BEAV, CIT, JRCC, INTC, & CHNR.
Premarket losers: NMX, CBI, FBN, OESX, ASML, NITE, STX, CRME, RBS, STX, PAC, INFA, BCS, CLF, & PDO.
Both Bernanke and economic data will keep traders busy today. At 9:AM we have the Treasury International Capital report, at 10:AM Bernanke will give his semiannual testimony before the House Financial Services Committee, and at 10:35 we have the weekly oil inventories report. This afternoon the housing market index comes out at 1:PM and the FOMC minutes at 2:PM. Indeed, another busy day with lots of data to ponder beyond earnings reports.
Have a wonderful Wednesday!
Posted by Kirk at 9:11 AM in Premarket | Bookmark | Feeds | Link |
Tuesday, July 15, 2008
Busy Day
[image: 37.gif] Good morning. The market will face information overload with a number of economic data points, earnings, and speeches.
So far, reaction to this morning's data is profoundly negative with premarket futures pointing to another negative open. Among other things, a higher than expected PPI, weak retail sales, another big drop in the U.S. dollar, and a gain in oil prices have pressured premarket sentiment.
Premarket gainers:CWTR, ESLR, SANM, BEXP, IKN, FHN, ETFC, PKD, SANM, BBX, SAF, AMED, AUY, JNJ, STT, WM, RMBS, & EXR.
Premarket losers: FNM, FRE, WB, NCC, CNB, FTEK, XING, KMB, AIG, CSIQ, BID, JASO, AXA, ING, LMC, C, IBN, ETN, HYGS, AIB, & UIS.
No doubt, Ben Bernanke will be on the hot seat and we'll see if he can calm down the market.
I don't have to tell you that a lot is going wrong at the moment and investors are preparing themselves for worst case scenarios now (i.e. total collapse of the banking and financial systems). Such behavior is creating opportunities out there, but few investors are willing to step up amid these headlines and interesting times we now find ourselves in. Technically, we are scraping against the bottom of the long-term trend channel in the S&P 500 but we need something to go right for a change for this constant sell pressure to end:
[image: S&P 500]
Have a terrific Tuesday! I'll be back when I can.
Posted by Kirk at 9:06 AM in Premarket | Bookmark | Feeds | Link...
