Oil finished up 92 cents to $127.54pb. This looks like major weakness and due to that we like the DUG etf.
The British Bankers' Association chose to do nothing with the way LIBOR is calculated. This decision left many skeptics feeling dumbfounded.
Investment Banks announced today that they see M&A activity up for the next 2 quarters in the banking industry. This comes as no surprise as regional banks battle to keep their head above water due to the housing crisis.
Well, the storm selloff did not happen today. But peak weakness is showing still. If oil drops next week, the Markets could vault themselves through the resistance of 1404-6 on the S&P.
Natural Gas was up 32 cents today. NG might dislocate itself from oil next week if oil take a dive South. Also, you might want to keep an eye on coal.
Have a great weekend.
Good Fortune from Trade-Equity.com!!!
Friday, May 30, 2008
$Market LunchBox$ Fridays Look Forward
TIF beat earnings and look as if it is headed back to 55 per share. Meanwhile other retailers such as JCrew are losing double digit percentages.
At 1:40 EST, the Dow is up 12.70 points to 12, 658, after drifting back and forth today, off its high of 12,689.70.
The Dow looks very unsure of itself compare to the S&P, who looks like it wants to break out of the 1406 resistance level. This will be more difficult as the calendar moves forward. More earnings will come out that will reflect the cost of oil, and these cost will be past on to the consumer. This in turn will effect the consumer, who has taken a hit in his/her net worth, due to reeal estate price decline. In the 3rd and 4th quarter of 2008, the consumer will spend a considerable amount less that they did in the 3rd and 4th quarter of 2007 because of this.
The housing crisis should peak in September or October of this year. We think the commercial real estate front will be taking a big hit due to energy and the poor consumer.
China will probably fall off a bit post Olympics. But will pick back up within 3 months we believe.
With big support around $124-125 per barrel, oil will possible test those levels next week.
Gold is up $8.90 today. The VIX is down almost 3% to 17.61.
Good Fortune from Trade-Equity.com!!!
At 1:40 EST, the Dow is up 12.70 points to 12, 658, after drifting back and forth today, off its high of 12,689.70.
The Dow looks very unsure of itself compare to the S&P, who looks like it wants to break out of the 1406 resistance level. This will be more difficult as the calendar moves forward. More earnings will come out that will reflect the cost of oil, and these cost will be past on to the consumer. This in turn will effect the consumer, who has taken a hit in his/her net worth, due to reeal estate price decline. In the 3rd and 4th quarter of 2008, the consumer will spend a considerable amount less that they did in the 3rd and 4th quarter of 2007 because of this.
The housing crisis should peak in September or October of this year. We think the commercial real estate front will be taking a big hit due to energy and the poor consumer.
China will probably fall off a bit post Olympics. But will pick back up within 3 months we believe.
With big support around $124-125 per barrel, oil will possible test those levels next week.
Gold is up $8.90 today. The VIX is down almost 3% to 17.61.
Good Fortune from Trade-Equity.com!!!
$PreMarket Buzz$Looks Like a Higher Open!
The numbers are starting to come in.
Consumer spending slowed in this quarter. Fuel costs, real estate, slow wage growth have America questioning the next dollar they spend.
Dell beat earnings with solid numbers after the bell yesterday.
It sounds as if United and USAirways have broken off talks.
Currently with 10 minutes til open, the Dow Futures are up 44. Gold is up over $7.
The S&P is up 4.20.
This gives us an interesting outlook.
http://www.marketwatch.com/news/economy/economic_calendar.asp?siteId=
It looks like today will open up in positive territory.
Good Trading from Trade-Equity.com!!!
Consumer spending slowed in this quarter. Fuel costs, real estate, slow wage growth have America questioning the next dollar they spend.
Dell beat earnings with solid numbers after the bell yesterday.
It sounds as if United and USAirways have broken off talks.
Currently with 10 minutes til open, the Dow Futures are up 44. Gold is up over $7.
The S&P is up 4.20.
This gives us an interesting outlook.
http://www.marketwatch.com/news/economy/economic_calendar.asp?siteId=
It looks like today will open up in positive territory.
Good Trading from Trade-Equity.com!!!
Thursday, May 29, 2008
$Market Closer$ Fridays Open Could Be Lower
With oil closing the session at $126.62pb, the Dow tailed off of its highs to close up 52.19 points to 12646.72.
We think oil might bounce again off of its support at $125.50 and head North back up to $135pb.
Bernanke will be in the news tomorrow and his speech content also.
GM said that 19000 people took a buyout. At the same time, JP Morgan merges with Bear Stearns and 8000 people go unemployed.
Chris Plummer wrote a great piece on why you want $8 a gallon gas. It is a shame that it takes $8 to motivate the US on an energy policy or pushing technology in the right direction.
http://www.marketwatch.com/news/story/eight-reasons-youll-rejoice-we/story.aspx?guid=%7B82FCE1B0%2D1889%2D43B0%2DA465%2DE29BFEE95576%7D
We are trading in a range and it looks like 1406 on the S&P is a difficult spot of resistance.
Tomorrow sure looks like a great day to selloff.
Good Fortune from Trade-Equity.com!!!
We think oil might bounce again off of its support at $125.50 and head North back up to $135pb.
Bernanke will be in the news tomorrow and his speech content also.
GM said that 19000 people took a buyout. At the same time, JP Morgan merges with Bear Stearns and 8000 people go unemployed.
Chris Plummer wrote a great piece on why you want $8 a gallon gas. It is a shame that it takes $8 to motivate the US on an energy policy or pushing technology in the right direction.
http://www.marketwatch.com/news/story/eight-reasons-youll-rejoice-we/story.aspx?guid=%7B82FCE1B0%2D1889%2D43B0%2DA465%2DE29BFEE95576%7D
We are trading in a range and it looks like 1406 on the S&P is a difficult spot of resistance.
Tomorrow sure looks like a great day to selloff.
Good Fortune from Trade-Equity.com!!!
$Market LunchBox$ One Hour to Bernanke!
The Dow is up 113 points to 12,707. This looks like the perfect storm to see a sell off start with the Bernanke speech. His speech is in Switzerland and prob won't be covered live by CNBC or Bloomberg, the market might have a delayed reaction to the news. He is supposed to start speaking at 2:30pm EST.
We like the SKF, and although it looks like it might be a little early, the SKF(with the pressure of Lehman Brothers-LEH) in the industry, we think the SKF is headed higher.
Oil spiked on inventory short 8.8 million barrels. then headed South to test the support levels again. Currently oil is $127.06pb.
The VIX is down over 6% to 17.89.
If the selloff happens today and possibly tomorrow the we might be headed down to test the lows of 13500 on the Dow.
The GLD is down almost 2% currently.
Good Fortune from Trade-Equity.com!!!
We like the SKF, and although it looks like it might be a little early, the SKF(with the pressure of Lehman Brothers-LEH) in the industry, we think the SKF is headed higher.
Oil spiked on inventory short 8.8 million barrels. then headed South to test the support levels again. Currently oil is $127.06pb.
The VIX is down over 6% to 17.89.
If the selloff happens today and possibly tomorrow the we might be headed down to test the lows of 13500 on the Dow.
The GLD is down almost 2% currently.
Good Fortune from Trade-Equity.com!!!
$PreMarket Buzz$ Big News Day
Bernanke will be the key to todays close.
It looks as if the Dow will open about 30 point down. Oil is $1.99 to $129.04 pb.
Gold is opening down today. GDP was revised to analyst expectations.
Sears reports losses, and Costco beats estimates. Big Lots is trading 6-7% higher in pre-market.
Jobless claims come in higher again.
It is going to be a busy day today.
http://www.bloomberg.com/markets/ecalendar/index.html
Good Fortune from Trade-Equity.com!!!
It looks as if the Dow will open about 30 point down. Oil is $1.99 to $129.04 pb.
Gold is opening down today. GDP was revised to analyst expectations.
Sears reports losses, and Costco beats estimates. Big Lots is trading 6-7% higher in pre-market.
Jobless claims come in higher again.
It is going to be a busy day today.
http://www.bloomberg.com/markets/ecalendar/index.html
Good Fortune from Trade-Equity.com!!!
Wednesday, May 28, 2008
$Market Closer$Oil Moving North Off Support
This afternoon was a little different. The Dow finished up 45.68 points, to 12594.03. While oil finished up after a 2-3 day pull back to bounce off of its support around $125.50pb to over $130pb.
The news is that the demand is slowing based on higher oil prices. Yet we are still living with threats like the one that exist in Nigeria and the Rebels attacking the pipeline. Along with hurricane season we think that threats to demand will increase over the next several months.
Tomorrow, at 2:30pm EST, Bernanke speaks. Not to mention the massive amount of economic information that will be released prior to him speaking. This could be a great reason for the Market to head South if Bernanke starts to speak about bank failures or keeping interest rates the same or raising them.
Financials have been breaking down the last few days and may show a positive sign in the morning tomorrow, and then turn in the afternoon. That could be one scenario.
Business spending is up and this is an extremely good sign that you do not normally see going into a recession. Plus, over the last several years, companies have put a lot of cash on their books.
DRYS finished up over 9% today. It might go to $130 by September.
Gold was down today.
We think the consumer is the key to the whole economic situation. And this might be a good time to be in cash to take advantage of another shoe to drop. The Market has shown strength since the Bear Stearns/JP Morgan purchase. The chance that the Dow might pull back to 12300, we feel is pretty good once everyone understands the regional banking situation, consumer inflation, and the tax on earnings oil might provide the corporations in the next 2 months.
Can our economy handle this pressure without having the Market react negatively?
Good Fortune from Trade-Equity.com!!!
The news is that the demand is slowing based on higher oil prices. Yet we are still living with threats like the one that exist in Nigeria and the Rebels attacking the pipeline. Along with hurricane season we think that threats to demand will increase over the next several months.
Tomorrow, at 2:30pm EST, Bernanke speaks. Not to mention the massive amount of economic information that will be released prior to him speaking. This could be a great reason for the Market to head South if Bernanke starts to speak about bank failures or keeping interest rates the same or raising them.
Financials have been breaking down the last few days and may show a positive sign in the morning tomorrow, and then turn in the afternoon. That could be one scenario.
Business spending is up and this is an extremely good sign that you do not normally see going into a recession. Plus, over the last several years, companies have put a lot of cash on their books.
DRYS finished up over 9% today. It might go to $130 by September.
Gold was down today.
We think the consumer is the key to the whole economic situation. And this might be a good time to be in cash to take advantage of another shoe to drop. The Market has shown strength since the Bear Stearns/JP Morgan purchase. The chance that the Dow might pull back to 12300, we feel is pretty good once everyone understands the regional banking situation, consumer inflation, and the tax on earnings oil might provide the corporations in the next 2 months.
Can our economy handle this pressure without having the Market react negatively?
Good Fortune from Trade-Equity.com!!!
$Market LunchBox$ DRYS is Bouncing North!
We think that with the Dow trading down currently <2:07> down 23 points to 12525, and in the mid-term in a range between 12,500 and 11,500, you really have to look for superstars in this market.
Yesterday, we discussed DRYS looking like it was ready to bounce. Today the stock is up over 6%.
We think it will go back to $116 and possibly to $130 per share.
And while overall Stocks is going back and forth from negative to positive today, Treasuries still remain out of favor. This tells us that the major money remains positive on Stocks. While the Financial sector is showing considerable weakness today(displayed in the XLF/SKF), the news today is clearly making note of how bad the banking situation is for regional banks in the US.
The number we keep hearing is 100 to 150 are going to fail over the next 2-3 years.
We think that this might open a door for a major client grab from Internet banks and larger banks. Think about it, gas is up, driving is down. Your bank fails as you read the news online and there is an ad running next to your news article. BINGO! This might be the first alternative for millions of people.
SYNO and TGH are showing extremely high volume today.
Good Fortune from Trade-Equity.com!!!
Yesterday, we discussed DRYS looking like it was ready to bounce. Today the stock is up over 6%.
We think it will go back to $116 and possibly to $130 per share.
And while overall Stocks is going back and forth from negative to positive today, Treasuries still remain out of favor. This tells us that the major money remains positive on Stocks. While the Financial sector is showing considerable weakness today(displayed in the XLF/SKF), the news today is clearly making note of how bad the banking situation is for regional banks in the US.
The number we keep hearing is 100 to 150 are going to fail over the next 2-3 years.
We think that this might open a door for a major client grab from Internet banks and larger banks. Think about it, gas is up, driving is down. Your bank fails as you read the news online and there is an ad running next to your news article. BINGO! This might be the first alternative for millions of people.
SYNO and TGH are showing extremely high volume today.
Good Fortune from Trade-Equity.com!!!
$PreMarket Buzz$ Durable Goods look Durable!
Positive news this morning, minus cars and planes numbers not looking so good.
All of the Equity Futures are up with 22 minutes to open. The Dow is up 39 points to 12592.
Oil is down $1.71 to $125.17pb. Gold and Silver are pointing down to open.
Something very interesting was announced by Dow Chemical today. They said they will raise prices 20% to make up for the losses due to fuel and energy prices they are incurring.
This looks like the first (sector) that will be passing along these cost directly, and adding to inflation across the board. We knew transports would have to do that, but if Industrials start show price increases in the area of 20%, it will effect many consumer products that are used daily.
Good Fortune from Trade-Equity.com!!!
All of the Equity Futures are up with 22 minutes to open. The Dow is up 39 points to 12592.
Oil is down $1.71 to $125.17pb. Gold and Silver are pointing down to open.
Something very interesting was announced by Dow Chemical today. They said they will raise prices 20% to make up for the losses due to fuel and energy prices they are incurring.
This looks like the first (sector) that will be passing along these cost directly, and adding to inflation across the board. We knew transports would have to do that, but if Industrials start show price increases in the area of 20%, it will effect many consumer products that are used daily.
Good Fortune from Trade-Equity.com!!!
Tuesday, May 27, 2008
$Market Closer$ Financials and Nasdaq Lead the Close
As lunch ended the Nasdaq and the Financials kicked in and started to lead the Market higher.
The Dow closed at 12548.35, up 68.72 points. Oil was down $3.44pb at 4pm EST.
But as the dollar maintains low levels, you will probably see oil climb through the summer months.
Economic growth might be positive the rest of the year. And without 2 negative quarters of growth, it is hard to call it a recession. Let's set the "R" word aside, if oil stays between $125pb and $150pb, our economy could dwindle to a stand still even if th interest rates stay steady for the next 6 months.
It sounds as if the old St.Louis favorite, ticker symbol BUD, doesn't have much defense if the a buyout was forced by InBev. After being up 7% last week, it was up again today .25%.
Keep an eye on the IYR if it hits $71, you might see some room for gains in the $65 Put Options.
It looks as if it will try to test the $60 level again. Also, depressed asset are starting to be bought, and therefore being recognized as depressed assets in real dollars.
DRYS hit $84.80 today and sure looks like a buy from where we are sitting.
Gold dropped today again. With inflation heading North, we see a buying opportunity at around $880 per ounce.
Keep an eye on the Vix, it hit a high over 20 today, yet closed at 19.64. This was the first time in about 30 days it reached that level.
Good Fortune from Trade-Equity.com!!!
The Dow closed at 12548.35, up 68.72 points. Oil was down $3.44pb at 4pm EST.
But as the dollar maintains low levels, you will probably see oil climb through the summer months.
Economic growth might be positive the rest of the year. And without 2 negative quarters of growth, it is hard to call it a recession. Let's set the "R" word aside, if oil stays between $125pb and $150pb, our economy could dwindle to a stand still even if th interest rates stay steady for the next 6 months.
It sounds as if the old St.Louis favorite, ticker symbol BUD, doesn't have much defense if the a buyout was forced by InBev. After being up 7% last week, it was up again today .25%.
Keep an eye on the IYR if it hits $71, you might see some room for gains in the $65 Put Options.
It looks as if it will try to test the $60 level again. Also, depressed asset are starting to be bought, and therefore being recognized as depressed assets in real dollars.
DRYS hit $84.80 today and sure looks like a buy from where we are sitting.
Gold dropped today again. With inflation heading North, we see a buying opportunity at around $880 per ounce.
Keep an eye on the Vix, it hit a high over 20 today, yet closed at 19.64. This was the first time in about 30 days it reached that level.
Good Fortune from Trade-Equity.com!!!
5-27-2008 $Market LunchBox$DRYS Bounce to 120?
The Dow has been back and forth from 50 points up and 20 points down today. Currently (1:50pm EST) the Market is up 22 points at 12,501 on the Dow.
Layoffs are big and in every inch of the news. Generally speaking this happens at Market bottoms, not Market tops. This might be an indicator, since the Investment Banking firms can provide steady indication.
LDK Solar is taking a breather today right along with oil, who is down $2.50 to 129. 69pb. Oil is showing great support at $125pb. Buy the dips in energy and shipping is probably the right thing to do here.
Watch DRYS bounce back North after on future profits and a low PE under 6.
It is a slow day today, with not a lot of news out to move the Markets. Gold is down today also.
Home prices fell the most in 20yrs. It is going to get through September. Homebuilders with possibly the exception of Toll Brothers, are in trouble and showing considerable weakness.
Good Fortune from Trade-Equity.com
Layoffs are big and in every inch of the news. Generally speaking this happens at Market bottoms, not Market tops. This might be an indicator, since the Investment Banking firms can provide steady indication.
LDK Solar is taking a breather today right along with oil, who is down $2.50 to 129. 69pb. Oil is showing great support at $125pb. Buy the dips in energy and shipping is probably the right thing to do here.
Watch DRYS bounce back North after on future profits and a low PE under 6.
It is a slow day today, with not a lot of news out to move the Markets. Gold is down today also.
Home prices fell the most in 20yrs. It is going to get through September. Homebuilders with possibly the exception of Toll Brothers, are in trouble and showing considerable weakness.
Good Fortune from Trade-Equity.com
Monday, May 26, 2008
5-27-2008 $PreMarket Buzz$ LIBOR in Question?
As the pressure mounts in the US Banking system, so does it start to climb in London. Interest rates on corporate bonds, leveraged buyouts loans, derivatives and even U.S. mortgages are pegged to the Libor rate. After UBS was quoted saying (post 38billion in write downs) that it could get better rates than that of the other banks with less write downs. This difference and others have lead to a lack of confidence in the 24 year old system of setting rates.
To resolve this issue, the British Bankers' Assoc. is looking into ways solve the problem and will offer information regarding a solution on May 30th, 2008. What they offer, may give us a clue to how long the credit crisis might last.
Asia had its first up day in 6 days yesterday. This might be something to watch. If you are considering buying anything Asian (equities), you might take a look now. The tide might be shifting.
New Home Sales numbers and Consumer Confidence numbers will come out on Tuesday morning, along with the Richmond Fed Index(all at 10am EST).
Thursday will give us Jobless Claims report and will probably offer the some of the largest fundamental movement this week.
This weeks economic calendar.
http://www.bloomberg.com/markets/ecalendar/index.html
With 17 min. to open, Dow futures are up 18, with oil down .85 cents to $131.34pb.
Hoping your weekend was cheap on gas.....
Good Fortune from Trade-Equity.com!!!
To resolve this issue, the British Bankers' Assoc. is looking into ways solve the problem and will offer information regarding a solution on May 30th, 2008. What they offer, may give us a clue to how long the credit crisis might last.
Asia had its first up day in 6 days yesterday. This might be something to watch. If you are considering buying anything Asian (equities), you might take a look now. The tide might be shifting.
New Home Sales numbers and Consumer Confidence numbers will come out on Tuesday morning, along with the Richmond Fed Index(all at 10am EST).
Thursday will give us Jobless Claims report and will probably offer the some of the largest fundamental movement this week.
This weeks economic calendar.
http://www.bloomberg.com/markets/ecalendar/index.html
With 17 min. to open, Dow futures are up 18, with oil down .85 cents to $131.34pb.
Hoping your weekend was cheap on gas.....
Good Fortune from Trade-Equity.com!!!
Saturday, May 24, 2008
15 years and the Future Web Curve-Will the Oil Market Push People to the Web?
The Internet is celebrating 15 years of adaptation and growth
I am reading this article by some of the most experienced Internet types in the world, and the futuristic views they have for the Internet.
In thinking about your next software or Internet stock trade or investment, you might want to understand these people and their views about the overall direction of the Internet.
http://news.bbc.co.uk/2/hi/technology/7373717.stm
Good Fortune from Trade Equity!!!
I am reading this article by some of the most experienced Internet types in the world, and the futuristic views they have for the Internet.
In thinking about your next software or Internet stock trade or investment, you might want to understand these people and their views about the overall direction of the Internet.
http://news.bbc.co.uk/2/hi/technology/7373717.stm
Good Fortune from Trade Equity!!!
Friday, May 23, 2008
12300 Correction /Market Closer
The Dow closed at 12479.63 today. Todays drop was only a 145.99 points. Am I crazy or does it see like this elevator is taking the fast shaft down? If so, is it slowing down. We had a couple days of 200+ down now today, only 146 points.
We think we might see the basement around 12300 due to the fact this will represent the 50% correction from the recent highs.
This is not new news, but there might be a trade here.
http://www.bloomberg.com/apps/news?pid=20601087&sid=arJRg6BLyYl8&refer=home
Bloomberg reports the following:
Vallejo became the largest California city to seek bankruptcy protection a week after it rejected an offer by labor unions for $10 million in pay cuts.
This is probably the tip of the iceberg for California. They have laws dictating your property taxes be lowered if your value has dropped X %. This sounds great for the homeowners, but must be putting a crunch on local governments.
Dow Jones Transportation Index has risen with the Oil Services Index, together they are up 17% and 16% percent YTD. Oil finished up today to $1.38 to $132.19p.b.. Please remember to look at DRYS this weekend, it has had a pullback following an earnings report where they missed by 4 cents.
LDK was up today again, over 8%.
Next week will probably be both short and light on volume.
Good Fortune from Trade Equity!!!
We think we might see the basement around 12300 due to the fact this will represent the 50% correction from the recent highs.
This is not new news, but there might be a trade here.
http://www.bloomberg.com/apps/news?pid=20601087&sid=arJRg6BLyYl8&refer=home
Bloomberg reports the following:
Vallejo became the largest California city to seek bankruptcy protection a week after it rejected an offer by labor unions for $10 million in pay cuts.
This is probably the tip of the iceberg for California. They have laws dictating your property taxes be lowered if your value has dropped X %. This sounds great for the homeowners, but must be putting a crunch on local governments.
Dow Jones Transportation Index has risen with the Oil Services Index, together they are up 17% and 16% percent YTD. Oil finished up today to $1.38 to $132.19p.b.. Please remember to look at DRYS this weekend, it has had a pullback following an earnings report where they missed by 4 cents.
LDK was up today again, over 8%.
Next week will probably be both short and light on volume.
Good Fortune from Trade Equity!!!
Market LunchBox
With the Dow currently down 150.55 to 12,475, we are witnessing the Friday sell off that we talked about yesterday.
After bad housing news this morning, the market went into freefall.
Resales of U.S. houses and condos dropped 1% to a seasonally adjusted annualized rate of 4.89 million from 4.94 million in March. Economists expected sales to fall to 4.83 million.
We are looking for the Dow to correct to 12300 and then head North back to 13000 or 13500.
Today is a very light volume day in the Markets.
BUD is up 7% today on a buyout rumour by InBev.
A merger of the two companies would result in production of about 350 million hectoliters of beer each year and add up to approximately $20 billion in annual revenue.
Gold and oil are up today.
Gold is up $6.50 and oil is up to $132.10 p.b..
This is todays global economic calendar.
http://www.forexfactory.com/
Good Fortune from Trade Equity!!!
After bad housing news this morning, the market went into freefall.
Resales of U.S. houses and condos dropped 1% to a seasonally adjusted annualized rate of 4.89 million from 4.94 million in March. Economists expected sales to fall to 4.83 million.
We are looking for the Dow to correct to 12300 and then head North back to 13000 or 13500.
Today is a very light volume day in the Markets.
BUD is up 7% today on a buyout rumour by InBev.
A merger of the two companies would result in production of about 350 million hectoliters of beer each year and add up to approximately $20 billion in annual revenue.
Gold and oil are up today.
Gold is up $6.50 and oil is up to $132.10 p.b..
This is todays global economic calendar.
http://www.forexfactory.com/
Good Fortune from Trade Equity!!!
PreMarket Buzz
Kimberly Clark announced they would raise there price 6-8%. This is inflation at its best.
The Dow Futures are showing an opening of 46 points lower.
Yahoo is delaying its annual meeting once again. While the stock is down this week, it looks as if Microsoft is looking around for something other than Yahoo now.
Euro-zone May purchasing managers index falls to lowest level in five years. This shows that the global slow down in is happening across the world.
The existent home sales numbers are released this morning at 10am EST.
These numbers cannot be great. But most everyone knows this.
There are a few companies reporting earnings today.
http://biz.yahoo.com/research/earncal/today.html
Good Fortune from Trade Equity!!!
The Dow Futures are showing an opening of 46 points lower.
Yahoo is delaying its annual meeting once again. While the stock is down this week, it looks as if Microsoft is looking around for something other than Yahoo now.
Euro-zone May purchasing managers index falls to lowest level in five years. This shows that the global slow down in is happening across the world.
The existent home sales numbers are released this morning at 10am EST.
These numbers cannot be great. But most everyone knows this.
There are a few companies reporting earnings today.
http://biz.yahoo.com/research/earncal/today.html
Good Fortune from Trade Equity!!!
Thursday, May 22, 2008
Market Closer
The Dow closed today, after digesting the Natural Gas report and the Jobless claims report, at 12,625.62, up 24.43.
This is a good sign to see the Dow close above 12600. Tomorrow will be pretty calm with the VIX at 18.05. But do not forget it is Friday and there probably won't be too many traders that want to keep open positions over a 3 day weekend.
The Gap and Footlocker beat analyst estimates on earnings after close today. Both stocks were up in after hour trading.
Watch the SKF next week.
You can see here that tomorrow is not a big news day.....
http://www.bloomberg.com/markets/ecalendar/index.html
Good Fortune from Trade Equity!!!
This is a good sign to see the Dow close above 12600. Tomorrow will be pretty calm with the VIX at 18.05. But do not forget it is Friday and there probably won't be too many traders that want to keep open positions over a 3 day weekend.
The Gap and Footlocker beat analyst estimates on earnings after close today. Both stocks were up in after hour trading.
Watch the SKF next week.
You can see here that tomorrow is not a big news day.....
http://www.bloomberg.com/markets/ecalendar/index.html
Good Fortune from Trade Equity!!!
Market Lunch
After opening this morning to be over 50 points up on the Down, the market then sold off and went to even. Currently, are drifting North to 31 points up on the Dow.
Ford is a loser today, based on the fact the will not be profitable as soon as they thought while trying to sell large trucks and SUVs, instead of small and hybrid cars.
One of the smartest guys on Wall Street is Bill Gross of Pimco. Today he made some interesting statements.
http://www.bloomberg.com/apps/news?pid=20601087&sid=axXH0Xr98tDw&refer=home
Oil is pulling back right now, it is down $1.20 p.b. to $132.
Earnings after the close are here:
http://biz.yahoo.com/research/earncal/today.html
The DBA(commodity ETF) is down today and there is not a lot of news out that is moving the Marketplace.
Gold is down $9.50, but not where we like it yet to get in.
Good Fortune from Trade Equity!!!
Ford is a loser today, based on the fact the will not be profitable as soon as they thought while trying to sell large trucks and SUVs, instead of small and hybrid cars.
One of the smartest guys on Wall Street is Bill Gross of Pimco. Today he made some interesting statements.
http://www.bloomberg.com/apps/news?pid=20601087&sid=axXH0Xr98tDw&refer=home
Oil is pulling back right now, it is down $1.20 p.b. to $132.
Earnings after the close are here:
http://biz.yahoo.com/research/earncal/today.html
The DBA(commodity ETF) is down today and there is not a lot of news out that is moving the Marketplace.
Gold is down $9.50, but not where we like it yet to get in.
Good Fortune from Trade Equity!!!
PreMarket Buzz
Crude oil in the last 12 hours of trading to over $135 p.b..
Oil is up 19% and outside of OPEC rising production or demand lessening, there is no Easy button to push.
Most traders are wondering how close to $200 p.b.. we will get before the numbers begin to turn around.
First-time jobless claims fell 9,000 to 365,000, from a revised 374,000 the prior week, the Labor Department said today. The total number of people collecting benefits was unchanged at a four-year high of 3.073 million for the week ended May 10.
Existing home sales numbers come out tomorrow. This is an important number and could move the market this time.
If you are like us, and like to invest in the shipping industry, you will enjoy knowing the Baltic Dry Index, as of Tuesday, the index hit 11,793, and companies such as Eagle Bulk and Dryships, are showing incredible gains.
A lot of the gain is due to the fact that China has to keep up with coal and iron ore.
The Mexican Stock exchange is ready to go public in June.
Bolsa Mexicana de Valores, or BMV, mentioned in a preliminary prospectus released Wednesday that it plans for 121 million shares to be sold in Mexico and for 158 million shares, are going to be sold in the U.S.
Watch the SKF today, it looks like broker related stocks are going to fall today.
Good Fortune from Trade Equity!!!
Oil is up 19% and outside of OPEC rising production or demand lessening, there is no Easy button to push.
Most traders are wondering how close to $200 p.b.. we will get before the numbers begin to turn around.
First-time jobless claims fell 9,000 to 365,000, from a revised 374,000 the prior week, the Labor Department said today. The total number of people collecting benefits was unchanged at a four-year high of 3.073 million for the week ended May 10.
Existing home sales numbers come out tomorrow. This is an important number and could move the market this time.
If you are like us, and like to invest in the shipping industry, you will enjoy knowing the Baltic Dry Index, as of Tuesday, the index hit 11,793, and companies such as Eagle Bulk and Dryships, are showing incredible gains.
A lot of the gain is due to the fact that China has to keep up with coal and iron ore.
The Mexican Stock exchange is ready to go public in June.
Bolsa Mexicana de Valores, or BMV, mentioned in a preliminary prospectus released Wednesday that it plans for 121 million shares to be sold in Mexico and for 158 million shares, are going to be sold in the U.S.
Watch the SKF today, it looks like broker related stocks are going to fall today.
Good Fortune from Trade Equity!!!
Wednesday, May 21, 2008
Market Closer
The Dow closed down 227 points to 12,601.19.
As oil hit 135p.b. around the world, Asia started to feel the heat of the higher price.
And while Iceland's central bank may raise its benchmark interest rate today for the third time this year, certain countries are seriously watching the pressure, oil and other inflationary "add ons" might have on their economy.
Stagflation is the word that keeps rearing its ugly head.
As defined by Wiki:
http://en.wikipedia.org/wiki/Stagflation
One of the most popular tools used in portfolio management today are ETFs.
Some of the ETFs available are constructed to return more than others.
Here is a great article on several of the more leveraged opportunities in ETFs.
http://www.marketwatch.com/news/story/proposed-etfs-would-magnify-stock/story.aspx?guid=%7B3D68AF7C%2DCCBF%2D494A%2D84BC%2D9E367BFA8134%7D
http://www.reuters.com/article/marketsNews/idUSTKU00329320080522
Good Fortune from Trade Equity!!!
As oil hit 135p.b. around the world, Asia started to feel the heat of the higher price.
And while Iceland's central bank may raise its benchmark interest rate today for the third time this year, certain countries are seriously watching the pressure, oil and other inflationary "add ons" might have on their economy.
Stagflation is the word that keeps rearing its ugly head.
As defined by Wiki:
http://en.wikipedia.org/wiki/Stagflation
One of the most popular tools used in portfolio management today are ETFs.
Some of the ETFs available are constructed to return more than others.
Here is a great article on several of the more leveraged opportunities in ETFs.
http://www.marketwatch.com/news/story/proposed-etfs-would-magnify-stock/story.aspx?guid=%7B3D68AF7C%2DCCBF%2D494A%2D84BC%2D9E367BFA8134%7D
http://www.reuters.com/article/marketsNews/idUSTKU00329320080522
Good Fortune from Trade Equity!!!
Market LunchBox
The Dow started a back and forth pattern this morning, but Fed Minutes combined with oil coming in 5 million barrels short on the crude report drove oil above $133 p.b. and drove the Dow to 225 points down.
The Dow has currently bounced back to 202 down.
The Fed said today that they would not lower interest rates further unless the market conditions fell off the cliff. They also said that they see worse times due to unemployment, and inflation.
The VIX was up today over 5% to above 18.
We are watching and own NIHD, VMW, LDK, OSK, DBA, and SDTH.
LDK is the star performer today and yesterday. We look for this stock to hit 60+ before September.
Oil is up currently 4.57 to $133+. On CNBC today, there are people on their that are saying the oil demand will not slow growth dramatically. That is hard to believe.
We see technology reap the benefit of people slowing down on transportation, and doing more and more work, buying, and all other activites online. The popularity of the gaming community right now is a precursor to the ability society has to embrace online activity.
Good Fortune from Trade Equity!!!
The Dow has currently bounced back to 202 down.
The Fed said today that they would not lower interest rates further unless the market conditions fell off the cliff. They also said that they see worse times due to unemployment, and inflation.
The VIX was up today over 5% to above 18.
We are watching and own NIHD, VMW, LDK, OSK, DBA, and SDTH.
LDK is the star performer today and yesterday. We look for this stock to hit 60+ before September.
Oil is up currently 4.57 to $133+. On CNBC today, there are people on their that are saying the oil demand will not slow growth dramatically. That is hard to believe.
We see technology reap the benefit of people slowing down on transportation, and doing more and more work, buying, and all other activites online. The popularity of the gaming community right now is a precursor to the ability society has to embrace online activity.
Good Fortune from Trade Equity!!!
PreMarket Buzz
9:08 EST
Dow Futures are showing an opening of 11 points down on the Dow.
This morning we will have Crude Oil inventories out. It will be interesting to see of the equities move at this tipping point.
Obama looks like the candidate of choice and you might start seeing some industries(healthcare and defence come to mind) start to possibly show strength or weakness depending on the news.
Germany posted a confident report this morning regarding their economy. The German economy is in rough shape currently.
Gold is showing a $1.90 drop right now. If Gold pulls back to 875 per ounce, we consider it a buy due to inflation showing in government numbers around the world.
With sales of PCs rising around the world as many third world countries com online, Hewlett-Packard reported 16% rise in quarterly profit. Keep an eye on the Computer stocks today. 16% is a number that might get things move in this sector.
Good Fortune from Trade Equity!!!
Dow Futures are showing an opening of 11 points down on the Dow.
This morning we will have Crude Oil inventories out. It will be interesting to see of the equities move at this tipping point.
Obama looks like the candidate of choice and you might start seeing some industries(healthcare and defence come to mind) start to possibly show strength or weakness depending on the news.
Germany posted a confident report this morning regarding their economy. The German economy is in rough shape currently.
Gold is showing a $1.90 drop right now. If Gold pulls back to 875 per ounce, we consider it a buy due to inflation showing in government numbers around the world.
With sales of PCs rising around the world as many third world countries com online, Hewlett-Packard reported 16% rise in quarterly profit. Keep an eye on the Computer stocks today. 16% is a number that might get things move in this sector.
Good Fortune from Trade Equity!!!
Tuesday, May 20, 2008
Market Closer
The Dow closed 199 points down to 12828.
The big question on our mind today is (after how close will we get to 13500 on the Dow first) what is going to be the catalyst to turn the Market around to trend down?
There are a few catalyst that can step up to the plate and hit a homerun in the area.
1. Oil can do it, when the price of oil starts to effect earnings of companies other than Fedex. When you see the grocery stocks start to lose their slim margins, due to their delivery cost, might constitute enough pressure to send the Dow to the basement. level of 12500.
2. Inflation, as we saw it today, can be a driver for the downward spiral.
The consumer is being pinched right now and the bank accounts that were held in the home of the foreclosed and will-be-foreclosed are not accessible as they were in years prior. So, we are watching these numbers closely. We don't have a lot of faith in the housing plan that is being presented to President Bush currently.
3. Jobs, or the lack thereof, remain an important factor. If you watch prices rise, the residential bank account go, and employment hunting become an Olympic sport, the US economy can be crushed.
There are other factors for sure, but these 3 elements are key areas to keep an eye on.
After the bell today Hewlett Packard and may help the Tech sector see daylight tomorrow. (HPQ)
Oil finished up over $2 today to above $129 p.b..
Gold was up over $13 per ounce.
Warren Buffet, George Soros, and Meredith Whitney from Oppenheimer, are in the same boat whn it come to believing the Credit Crunch is not over. Buffet, the realist, and Soros, the skeptic met Whitney at the crossroads.
In the MarketWatch pages, Whitney is quoted as saying,
Oppenheimer warns of billions of dollars of additional asset write-downs and loan-loss reserves as a result of underwriting excesses. "We estimate that by the end of 2009, over $170 billion of reserve builds will flow through bank earnings on top of 'business as usual' loan-loss provisions," Whitney wrote. "Multitrillion dollars of loans were underwritten with the false assumption that home prices would go up in perpetuity on a national basis," the analyst said
The rest of the article can be found here>>>
Good Fortune from Trade Equity!!!
The financial sector -- which comprises 16.5% of the S&P 500 -- acted as the biggest drag with a 2.2% loss.
The big question on our mind today is (after how close will we get to 13500 on the Dow first) what is going to be the catalyst to turn the Market around to trend down?
There are a few catalyst that can step up to the plate and hit a homerun in the area.
1. Oil can do it, when the price of oil starts to effect earnings of companies other than Fedex. When you see the grocery stocks start to lose their slim margins, due to their delivery cost, might constitute enough pressure to send the Dow to the basement. level of 12500.
2. Inflation, as we saw it today, can be a driver for the downward spiral.
The consumer is being pinched right now and the bank accounts that were held in the home of the foreclosed and will-be-foreclosed are not accessible as they were in years prior. So, we are watching these numbers closely. We don't have a lot of faith in the housing plan that is being presented to President Bush currently.
3. Jobs, or the lack thereof, remain an important factor. If you watch prices rise, the residential bank account go, and employment hunting become an Olympic sport, the US economy can be crushed.
There are other factors for sure, but these 3 elements are key areas to keep an eye on.
After the bell today Hewlett Packard and may help the Tech sector see daylight tomorrow. (HPQ)
Oil finished up over $2 today to above $129 p.b..
Gold was up over $13 per ounce.
Warren Buffet, George Soros, and Meredith Whitney from Oppenheimer, are in the same boat whn it come to believing the Credit Crunch is not over. Buffet, the realist, and Soros, the skeptic met Whitney at the crossroads.
In the MarketWatch pages, Whitney is quoted as saying,
Oppenheimer warns of billions of dollars of additional asset write-downs and loan-loss reserves as a result of underwriting excesses. "We estimate that by the end of 2009, over $170 billion of reserve builds will flow through bank earnings on top of 'business as usual' loan-loss provisions," Whitney wrote. "Multitrillion dollars of loans were underwritten with the false assumption that home prices would go up in perpetuity on a national basis," the analyst said
The rest of the article can be found here>>>
Good Fortune from Trade Equity!!!
The financial sector -- which comprises 16.5% of the S&P 500 -- acted as the biggest drag with a 2.2% loss.
Market LunchBox
1:30 EST
As the Dow comes off of its low of over 200 points down on the day, the Market is showing strength in the area of energy, again. Oil is up over 2 dollars p.b., to over 129 p.b..
Gold is up today also. And so is the DBA.
If you missed it today, Boone Pickens did mention that he sees oil at 150 p.b. and he bought 10 million shares of YHOO after Icahn got in deep. Can you say, one specie of whale swimming with another specie of whale?
(HPQ) Hewlett Packard reports earnings after close today, and should give us some insight to business IT spending. Currently, HPQ is off 25 cents to $46.46 per share.
Meredith Whitney is hammering the financials again with what will probably be very realistic predictions into JP Morgan and Citigroup.
Steel looks to be taking a breather with a few companies showing a little weakness today. Depending on your portfolio, this might create an opportunity to jump in.
Good Fortune from Trade Equity!!!
PreMarket Buzz
The Dow Futures are showing down 91 to 12954, and Oil is up 73 cents to $127.78.
Home Depot reported a 66% loss in income with what we think will be 4-6 more months of increased foreclosure exposure.
China is going to relocate 12 million due further danger and disease.
Producer prices were announced this morning and the numbers showed the highest inflation in core prices in 17 years.
The dollar slipped against the euro in trading overnight.
Busy day today on the economic calendar.
Good Fortune from Trade Equity!!!
Home Depot reported a 66% loss in income with what we think will be 4-6 more months of increased foreclosure exposure.
China is going to relocate 12 million due further danger and disease.
Producer prices were announced this morning and the numbers showed the highest inflation in core prices in 17 years.
The dollar slipped against the euro in trading overnight.
Busy day today on the economic calendar.
Good Fortune from Trade Equity!!!
Monday, May 19, 2008
Market Closer
As oil hit an all time high today, the Market shaved off the overall rally du jour.
Registering a high of 13132 today and then heading South between 230EST and the close.
The VIX closed up 3.28% today to 17.01.
Are we seeing the same pattern we saw in late 2007?
The late day sell off. Possibly, but here is the difference. This time around we have 2 major differences.
1. We have light volume compared to the 3rd and the 4th quarter of last year.
and
2. We are coming off the one of the darkest period Wall Street has seen in the last 50 years.
We think that the Dow will pull back when it hit the 13500-13800 marker on the Dow.
Where will it pull back to? Well that is anyones guess. What will be the catalyst that will initiate the pull back?
The catalyst could be oil, it could be the dollar, or it could be inflation.
There are trades that are setting up right now, concerning the 13500-13800 level on the Dow.
Keep an eye on the the currencies or the Rydex currency shares to give you a true hint of when these trades might start to unwind.
Follow these symbols, FXA, FXB, FXC, FXE, FXY, FXM, FXF, FXS.
We like NIHD in Latin America.
The also have on options on these currencyshares.
Google entered the health market today.
What a great company. Probably the company that will look more like a world government for the internet in 5-10 years. But I have one issue. Too much too fast in the direction of private information. They want your health records.
I want someone to tell me why this is a good idea. Please honestly, tell me one reason why anyone would want to relinguish their health records to Google. I am ready to learn the reason an individual would be involved in this, at anytime.
Emerging markets are seeing a lot of attention in the last few days. MSCI earnings have quadrupled in the last 5 years. Countries such as Brazil, Russia, Taiwan, and South Africa look as if they are decoupling from the US Market.
Good Fortune from Trade Equity!!!
Registering a high of 13132 today and then heading South between 230EST and the close.
The VIX closed up 3.28% today to 17.01.
Are we seeing the same pattern we saw in late 2007?
The late day sell off. Possibly, but here is the difference. This time around we have 2 major differences.
1. We have light volume compared to the 3rd and the 4th quarter of last year.
and
2. We are coming off the one of the darkest period Wall Street has seen in the last 50 years.
We think that the Dow will pull back when it hit the 13500-13800 marker on the Dow.
Where will it pull back to? Well that is anyones guess. What will be the catalyst that will initiate the pull back?
The catalyst could be oil, it could be the dollar, or it could be inflation.
There are trades that are setting up right now, concerning the 13500-13800 level on the Dow.
Keep an eye on the the currencies or the Rydex currency shares to give you a true hint of when these trades might start to unwind.
Follow these symbols, FXA, FXB, FXC, FXE, FXY, FXM, FXF, FXS.
We like NIHD in Latin America.
The also have on options on these currencyshares.
Google entered the health market today.
What a great company. Probably the company that will look more like a world government for the internet in 5-10 years. But I have one issue. Too much too fast in the direction of private information. They want your health records.
I want someone to tell me why this is a good idea. Please honestly, tell me one reason why anyone would want to relinguish their health records to Google. I am ready to learn the reason an individual would be involved in this, at anytime.
Emerging markets are seeing a lot of attention in the last few days. MSCI earnings have quadrupled in the last 5 years. Countries such as Brazil, Russia, Taiwan, and South Africa look as if they are decoupling from the US Market.
Good Fortune from Trade Equity!!!
Market LunchBox
Well, it looks like oil and gold are trailing the transports that are off to the races today. Dow Jones Transports are up about 2.5% today.
Although, the DBA is sitting on $36.30 currently, and is down 30 cents on the day, it looks as if it is holding the support level of $36 per share. It was down by about 70 cents earlier and looks like it might come back before the close of today.
Todays dollar index, was at 73.084, up from 72.799 in late US trading Friday.
Amazon(amzn) is up about 10% on an upgrade. This stock is likely to do very well at Christmas again. Will it beat last years numbers? Maybe...maybe not due to the overall economy, will it be a stock to watch before December earnings
We found this article on wind power very interesting.
If you think energy is important, you might want to give this a read.
Good Fortune from Trade Equity!!!
Although, the DBA is sitting on $36.30 currently, and is down 30 cents on the day, it looks as if it is holding the support level of $36 per share. It was down by about 70 cents earlier and looks like it might come back before the close of today.
Todays dollar index, was at 73.084, up from 72.799 in late US trading Friday.
Amazon(amzn) is up about 10% on an upgrade. This stock is likely to do very well at Christmas again. Will it beat last years numbers? Maybe...maybe not due to the overall economy, will it be a stock to watch before December earnings
We found this article on wind power very interesting.
If you think energy is important, you might want to give this a read.
Good Fortune from Trade Equity!!!
PreMarket Buzz
Yahoo is up 1.5% in Premarket trading this morning.
With the Dow Futures down 3 points and oil is up .83 to 127.12.
Citigroup has cut earnings outlooks for Goldman Sachs, Lehman, and Morgan Stanley.
Trading losses are to blame due to a tough operating environment.
There is not a lot of news coming out today.
/
We think see the DBA moving north in the next several weeks.
With the Dow Futures down 3 points and oil is up .83 to 127.12.
Citigroup has cut earnings outlooks for Goldman Sachs, Lehman, and Morgan Stanley.
Trading losses are to blame due to a tough operating environment.
There is not a lot of news coming out today.
/
We think see the DBA moving north in the next several weeks.
Sunday, May 18, 2008
Sunday PreMarket Buzz
As Microsoft opens more communication with Yahoo about a potential buyout, it seems as if the terms of the deal may be shifting a bit. The latest info is the Microsoft might be leading to purchasing only the online advertising business from Yahoo. This might be the golden arrow to rival Google on its home turf.
This could leave Yahoo looking like a shell, and therefore less than attractive to investors.
Outside of this speculation, one thing we know for sure, is the more player involved the more potential scenario outcomes we have to factor in.
Looking toward this week and the housing data that will be released, you can imagine that the Market will not bounce when the bad housing data is released vs. something like Citigroup writing down a $3 billion charge and then subsequently raising an amount double of the write down.
At 11pm EST, the Nikkei is up 14 points.
Good Fortune from Trade Equity!!!
This could leave Yahoo looking like a shell, and therefore less than attractive to investors.
Outside of this speculation, one thing we know for sure, is the more player involved the more potential scenario outcomes we have to factor in.
Looking toward this week and the housing data that will be released, you can imagine that the Market will not bounce when the bad housing data is released vs. something like Citigroup writing down a $3 billion charge and then subsequently raising an amount double of the write down.
At 11pm EST, the Nikkei is up 14 points.
Good Fortune from Trade Equity!!!
Friday, May 16, 2008
Market Closer
Fridays close brought some interesting signs.
Starbucks was up almost 6% today Solarfun was up 24.26%.
Starbucks is taking on an investment from Nelson Peltz/Train Partners. This happening at almost the same time Goldman Sachs Asset Management revealed it had dumped 12.4 million shares as of March 31, while Morgan Stanley Hedge Fund Partners said it sold 4.9 million shares.
Solarfun gains on a deal with HOKU(Hoku Materials). We aren't sure about SOLF over the long term, but do like the solar sector.
Housing starts came in higher than expected today.
The Dow was down about 100 points at the low today. Then it came bouncing back to almost positive, which for a Friday is a surprise.
At the close, Dow was down 5.86 points today,to 12986.
Resistance seems to be there but the Dow is sure being patient, from our point of view, in trying to pass this level and get to 13500.
The WII Fit hits the market next week and is family directed. Now you can workout with the WII in the comfort of your home. This will work for Nintendo. Watch the numbers on this product.
China is going through a lot with the earthquake and diminished refining capacity due to to the quake. This might create a buying opportunity for China or the region. Possibly an infrastructure play. Don't miss this opportunity.
The Turkish Lira rallied today against the Dollar.
Looking toward next week, here is a look a the possible fundamentals that might effect the market.
http://www.bloomberg.com/markets/ecalendar/index.html
http://biz.yahoo.com/research/earncal/20080519.html
Good Fortune from Trade Equity!!!
Starbucks was up almost 6% today Solarfun was up 24.26%.
Starbucks is taking on an investment from Nelson Peltz/Train Partners. This happening at almost the same time Goldman Sachs Asset Management revealed it had dumped 12.4 million shares as of March 31, while Morgan Stanley Hedge Fund Partners said it sold 4.9 million shares.
Solarfun gains on a deal with HOKU(Hoku Materials). We aren't sure about SOLF over the long term, but do like the solar sector.
Housing starts came in higher than expected today.
The Dow was down about 100 points at the low today. Then it came bouncing back to almost positive, which for a Friday is a surprise.
At the close, Dow was down 5.86 points today,to 12986.
Resistance seems to be there but the Dow is sure being patient, from our point of view, in trying to pass this level and get to 13500.
The WII Fit hits the market next week and is family directed. Now you can workout with the WII in the comfort of your home. This will work for Nintendo. Watch the numbers on this product.
China is going through a lot with the earthquake and diminished refining capacity due to to the quake. This might create a buying opportunity for China or the region. Possibly an infrastructure play. Don't miss this opportunity.
The Turkish Lira rallied today against the Dollar.
Looking toward next week, here is a look a the possible fundamentals that might effect the market.
http://www.bloomberg.com/markets/ecalendar/index.html
http://biz.yahoo.com/research/earncal/20080519.html
Good Fortune from Trade Equity!!!
Market LunchBox
Well the retailers came around today. With the XRT showing about a 2% loss currently, and possibly going lower. We were just about 1 week in front of this trade. We look for retail to sink for the next 4 months.
Only seven of the 30 Dow Jones components are trading with a gain. The Dow's two best performers this session are Exxon Mobil (XOM 92.22, +0.92) and Chevron (CVX 99.84, +1.35).
The dollar dropped to its lowest level in 1 month.
The Dow is at 12953 down 39 points. This is far off the lows of the day,
With oil up $2.21 to over $126 pb, the Saudis agreed to up production by 300k barrels per day to make up for lost production in place such as Nigeria.
Intelligence is everywhere today, but the best article that I have read is here.
http://www.bloomberg.com/apps/news?pid=20601109&sid=a8AZRX5LUMYE&refer=home
Gold rallied the most it has in 3 months to $21 up on the day today.
Good Fortune from Trade Equity!!!
Only seven of the 30 Dow Jones components are trading with a gain. The Dow's two best performers this session are Exxon Mobil (XOM 92.22, +0.92) and Chevron (CVX 99.84, +1.35).
The dollar dropped to its lowest level in 1 month.
The Dow is at 12953 down 39 points. This is far off the lows of the day,
With oil up $2.21 to over $126 pb, the Saudis agreed to up production by 300k barrels per day to make up for lost production in place such as Nigeria.
Intelligence is everywhere today, but the best article that I have read is here.
http://www.bloomberg.com/apps/news?pid=20601109&sid=a8AZRX5LUMYE&refer=home
Gold rallied the most it has in 3 months to $21 up on the day today.
Good Fortune from Trade Equity!!!
PreMarket Buzz
With the Dow set to open in 7 minutes, Dow futures are showing 17 points up on opening.
The ASCO.org ploy to curb insider trading in the Pharma industry by posting all the results on the internet seems it will have a positive force on the open of Pharma trading this morning.
Oil is up $3.43 to $127+ pb.
Gold is up 18 dollars this morning.
Fannie Mae said it will lower down payments in hard hit areas today, due to consumer groups. Well, here we go again. You can now count on another real estate down turn in the next 5-10 year.
Good Fortune From Trade Equity!!!
The ASCO.org ploy to curb insider trading in the Pharma industry by posting all the results on the internet seems it will have a positive force on the open of Pharma trading this morning.
Oil is up $3.43 to $127+ pb.
Gold is up 18 dollars this morning.
Fannie Mae said it will lower down payments in hard hit areas today, due to consumer groups. Well, here we go again. You can now count on another real estate down turn in the next 5-10 year.
Good Fortune From Trade Equity!!!
Thursday, May 15, 2008
Market Closer
Petroleo Brasileiro S.A.(PBR) made an announcement today that might shape the oil world for the next 2-3 years. Several months ago they announced that they might have found the worlds largest oil deposit in the Brazil.
Today they announced they want to extend leases with RIG for deep water drilling.
There could be a major long term trade here.
Getting back to the Dow that finished up 94.28 points to 12,992.
Oil finshed down 38 cents to 122.63.
It looks like the commodity trade is starting to unwind. Watch the DBA, for keys to this trade.
The saga continues with Icahn and Yahoo. If you would like to see how the pros do it, you might want to check out this letter to Yahoo. It will give you the framework how deals of this sort get done.
http://www.marketwatch.com/news/story/complete-text-carl-icahns-letter/story.aspx?guid=%7bFF85A1D4-4B12-4EAB-8762-7E0FCF49436C%7d&print=true&dist=printTop
Th options buying tells us that the odds are against this deal in terms of it ever getting done. But when you have Icahn and Paulson(the guy that earned the most on the Mortagage crisis) couple with a power house of potential board members, you have to feel that even if Microsoft doesn't step back up to the plate to play ball, these guys have a "what if" backup in mind.
The dollar ended up softer today after sluggish economic news.
Natural Gas was down in the NY session due to higher inventories post announcement today.
Comex Gold was up $2.90 today.
Good Fortune from Trade Equity!!!
Today they announced they want to extend leases with RIG for deep water drilling.
There could be a major long term trade here.
Getting back to the Dow that finished up 94.28 points to 12,992.
Oil finshed down 38 cents to 122.63.
It looks like the commodity trade is starting to unwind. Watch the DBA, for keys to this trade.
The saga continues with Icahn and Yahoo. If you would like to see how the pros do it, you might want to check out this letter to Yahoo. It will give you the framework how deals of this sort get done.
http://www.marketwatch.com/news/story/complete-text-carl-icahns-letter/story.aspx?guid=%7bFF85A1D4-4B12-4EAB-8762-7E0FCF49436C%7d&print=true&dist=printTop
Th options buying tells us that the odds are against this deal in terms of it ever getting done. But when you have Icahn and Paulson(the guy that earned the most on the Mortagage crisis) couple with a power house of potential board members, you have to feel that even if Microsoft doesn't step back up to the plate to play ball, these guys have a "what if" backup in mind.
The dollar ended up softer today after sluggish economic news.
Natural Gas was down in the NY session due to higher inventories post announcement today.
Comex Gold was up $2.90 today.
Good Fortune from Trade Equity!!!
Market LunchBox
The housing numbers look pretty rough still. Except for the Southwest and Northwest stats from the National Homebuilders Association.
Homebuilder stocks are up again today also.
The Dow is showing the high for the day currently, up 45+ points to 12941.
At the Bernanke Fed conference in Chicago today, Bernanke put the big push on for banks to raise more cash. After hearing the same message at a few different venues, the banks would do well to take this message into consideration(this is our gut feeling).
Bernanke seems to be wanting to get out in front of the predicted bank downturn.
And rightfully so, due to what he has just gone through.
The commodity exchange ICE, is experiencing power issues today. But they have stated the issues are being handled and coming back online.
Keep an eye on VMW. Up 6% and room to move further over the next 6 months.
Good Fortune from Trade Equity!!!
Homebuilder stocks are up again today also.
The Dow is showing the high for the day currently, up 45+ points to 12941.
At the Bernanke Fed conference in Chicago today, Bernanke put the big push on for banks to raise more cash. After hearing the same message at a few different venues, the banks would do well to take this message into consideration(this is our gut feeling).
Bernanke seems to be wanting to get out in front of the predicted bank downturn.
And rightfully so, due to what he has just gone through.
The commodity exchange ICE, is experiencing power issues today. But they have stated the issues are being handled and coming back online.
Keep an eye on VMW. Up 6% and room to move further over the next 6 months.
Good Fortune from Trade Equity!!!
PreMarket Buzz
With Asia and Europe finishing up, with 18 minutes before the Dow opens, Dow futures are up 24, and the S&P is up 4.4.
Oil is showing 125+, up about 1.30.
CBS is on the move to purchase CNET. CNET is the 9th most visited site in the world.
This might be the catalyst to turn the CBS share price around.
CNET stock has surged 42%.
Sina gained 12% after posting an 87% gain in the first quarter. The increase in profits were due to modification on the website allowing user to listen to more music and benefit through the use of real estate information.
GE is trying to sell its appliance unit. Goldman Sachs has been hired to assist in this sale. The proposed number on the street is $8B.
The big news today the slow NY manufacturing number and the unemployment claims. With the unrevised Unemployment number being the most important prior to open.
Although, the NY manufacturing number was worse than expected, the unemployment numbers are not getting any better, which leads us to believe they might be reissued later to be worse than today.
The dollar reacted negatively toward the news after it was released.
Bernanke is talking in Chicago this morning and could bring the market down.
Oil is showing 125+, up about 1.30.
CBS is on the move to purchase CNET. CNET is the 9th most visited site in the world.
This might be the catalyst to turn the CBS share price around.
CNET stock has surged 42%.
Sina gained 12% after posting an 87% gain in the first quarter. The increase in profits were due to modification on the website allowing user to listen to more music and benefit through the use of real estate information.
GE is trying to sell its appliance unit. Goldman Sachs has been hired to assist in this sale. The proposed number on the street is $8B.
The big news today the slow NY manufacturing number and the unemployment claims. With the unrevised Unemployment number being the most important prior to open.
Although, the NY manufacturing number was worse than expected, the unemployment numbers are not getting any better, which leads us to believe they might be reissued later to be worse than today.
The dollar reacted negatively toward the news after it was released.
Bernanke is talking in Chicago this morning and could bring the market down.
Wednesday, May 14, 2008
Market Closer
Icahn says the proxy fight is happening!
Thank you! is all we can say after watching Yahoo turn down what should have been a deal to start with.
Gold is the under appreciated story today.....down over $19 for the last 3 sessions, keep an eye on GLD if global inflation keeps inching upward. On the same note, Russia admitted to the fact that they will step in to keep stability in their currency.
http://in.reuters.com/article/asiaCompanyAndMarkets/idINL1484107720080514
Watch airlines start to rally if oil keeps sliding downward. This business is dependent on the price of fuel, just like FedEx, UPS(who hedges), and all the trucking firms.
The USD looked stronger against the Yen and the Swiss, vs, the pseudo strength against the Euro and the Cable.
The Vix continued to hang out under the 18 marker. CNBC mentioned the sell off at the end of the day today, was due to complacency exhibited by the Vix or as Pisani called it, "good old fashioned profit taking". Either way, the Dow sold off, 130+ points up to 66 points up at close.
The Market showed strength and unless the retail company numbers, unemployment numbers,
Bernanke, or the Philadelphia manufacturing numbers announce devastating results tomorrow,
we might continue our run up til Friday afternoon(possible scenario).
http://www.forexfactory.com/index.php?tomorrow=1
Thank you! is all we can say after watching Yahoo turn down what should have been a deal to start with.
Gold is the under appreciated story today.....down over $19 for the last 3 sessions, keep an eye on GLD if global inflation keeps inching upward. On the same note, Russia admitted to the fact that they will step in to keep stability in their currency.
http://in.reuters.com/article/asiaCompanyAndMarkets/idINL1484107720080514
Watch airlines start to rally if oil keeps sliding downward. This business is dependent on the price of fuel, just like FedEx, UPS(who hedges), and all the trucking firms.
The USD looked stronger against the Yen and the Swiss, vs, the pseudo strength against the Euro and the Cable.
The Vix continued to hang out under the 18 marker. CNBC mentioned the sell off at the end of the day today, was due to complacency exhibited by the Vix or as Pisani called it, "good old fashioned profit taking". Either way, the Dow sold off, 130+ points up to 66 points up at close.
The Market showed strength and unless the retail company numbers, unemployment numbers,
Bernanke, or the Philadelphia manufacturing numbers announce devastating results tomorrow,
we might continue our run up til Friday afternoon(possible scenario).
http://www.forexfactory.com/index.php?tomorrow=1
Wednesday Market LunchBox
Icahn has 3.5% stake in Yahoo. Can you say brilliant?
The Dow is 137 currently. The rally today is due to the inflation numbers combined with the Freddie Mac numbers.
Macys also reported better than expected numbers, pulling retail up today.
The money on the sidelines looks to be adding to the volume of trading this week.
Oil is currently down on the session, to 124.64 pb, while natural gas is up .27 today.
Good Fortune from Trade Equity!!!
The Dow is 137 currently. The rally today is due to the inflation numbers combined with the Freddie Mac numbers.
Macys also reported better than expected numbers, pulling retail up today.
The money on the sidelines looks to be adding to the volume of trading this week.
Oil is currently down on the session, to 124.64 pb, while natural gas is up .27 today.
Good Fortune from Trade Equity!!!
PreMarket Buzz
Inflation looks to have dropped per the April CPI report.
The Market looks like it will open higher this morning. The Dow Futures are up 49 and the S&P is up 5.50.
Oil traded higher last night, but currently down to $125.22 pb. At 10:30am EST we should have the data for Crude Oil Inventories.
Freddie Mac reported good number today and should help lead the financials higher.
Today look like a steady positive day with the Vix still under 20 and good news in the Premarket.
It has been confirmed, Carl Icahn is on the heels of Yahoo.
Good Fortune from Trade Equity!!!
The Market looks like it will open higher this morning. The Dow Futures are up 49 and the S&P is up 5.50.
Oil traded higher last night, but currently down to $125.22 pb. At 10:30am EST we should have the data for Crude Oil Inventories.
Freddie Mac reported good number today and should help lead the financials higher.
Today look like a steady positive day with the Vix still under 20 and good news in the Premarket.
It has been confirmed, Carl Icahn is on the heels of Yahoo.
Good Fortune from Trade Equity!!!
Tuesday, May 13, 2008
Market Closer
In a day where you might think all the old trades are unwinding, you see thing such as Gold down $15. If you think global inflation is picking up as many do, this might create a buying opportunity. All the while, the dollar showed gains again today.
Good news lifted the Market higher today.
First, Clear Channel announced their deal is on and the financing lives! We can all take a deep breath having not to hear David Faber announce this daily. Wow, I think we had put options that this might never end.
Second, it is rumoured that Carl Icahn has a accumulated a stake in Yahoo to bring on a Proxy fight. Yahoo(YHOO) was up about 5% today because of the rumour.
In another bit of California, San Francisco Fed President Janet Yellen said today that the inflation has peaked and that we should see some relief next quarter due to
rate cuts. The Fed has cut overnight interest rates to 2% from 5.25%, starting last summer.
Hewlett Packard does not look like it will get to 43 today. It has bounced back from its low today and might show a more favorable reaction on the open tomorrow.
Walmart(wmt) showed 7% increase revenues but the guidance, due to fuel price increase, fell short of expectations. This led to 2.5%+ loss today.
Dan Gallagher reported today, that Ebay is being sued by Craigslist. You have to wonder when Ebay looks like it might have hit a ceiling in its bid to conquer the auction world with a not so happy Ebay community, and the Paypal and Skype acquisitions not performing as well as expected, why would you step on the toes of another community site?
This will be interesting to watch in the coming months.
Market LunchBox
Well...Oil headed North, not South as we felt this morning. Currently up about $1.96 to 126.18. Plus the Dollar is up a bit to lead the Dow to the 75 points down.
While the S&P is only off 1.85 points to sit on top of 1401+.
The Global Growth story seems to be working with Fluor(FLR) and Jacobs Engineering (JEC)surging today on Fluor earnings.
Abbott is having good returns yesterday and today on stent news.
HPQ is still suffering about a 7% decrease on the purchase of EDS. If the HPQ hits 42, we consider it a buy for a 6 month outlook.
We think the SKF might be inline depending on the close today. Currently, the Financials are showing weakness.
With all the Fed speak today, the market expected to hear more inflationary outlook. After digesting less than what was expected, the Down starts showing signs of improvement, well off the lows of the day.
Good Fortune from Trade Equity!!!
While the S&P is only off 1.85 points to sit on top of 1401+.
The Global Growth story seems to be working with Fluor(FLR) and Jacobs Engineering (JEC)surging today on Fluor earnings.
Abbott is having good returns yesterday and today on stent news.
HPQ is still suffering about a 7% decrease on the purchase of EDS. If the HPQ hits 42, we consider it a buy for a 6 month outlook.
We think the SKF might be inline depending on the close today. Currently, the Financials are showing weakness.
With all the Fed speak today, the market expected to hear more inflationary outlook. After digesting less than what was expected, the Down starts showing signs of improvement, well off the lows of the day.
Good Fortune from Trade Equity!!!
PreMarket Buzz
With 20 minutes to go prior to Market open, oil is 22 cents higher with what looks like the expectation to go further down after yesterday.
Dow futures are up 31 and the Sp futures are showing up 3.5 points.
Mr. Bernanke spoke this morning and mentioned increasing the Fed lending facilities.
Retail numbers came out this morning, and came in they posted the expected -2% loss.
(XRT)
There are fundamentals coming out this week that can help to shape the Market.
http://www.forexfactory.com/
With the Vix below 18, this is probably not a great index day. It look a lot like like week where the Dow stayed 30 points up to 30 points down all day. Picture a sideways trading range in the small neighborhood.
WalMart came out with conservative guidance today, which is currently leading the stock stock.
LDK crushed their numbers yesterday btw.
Good Fortune from Trade Equity!!!
Dow futures are up 31 and the Sp futures are showing up 3.5 points.
Mr. Bernanke spoke this morning and mentioned increasing the Fed lending facilities.
Retail numbers came out this morning, and came in they posted the expected -2% loss.
(XRT)
There are fundamentals coming out this week that can help to shape the Market.
http://www.forexfactory.com/
With the Vix below 18, this is probably not a great index day. It look a lot like like week where the Dow stayed 30 points up to 30 points down all day. Picture a sideways trading range in the small neighborhood.
WalMart came out with conservative guidance today, which is currently leading the stock stock.
LDK crushed their numbers yesterday btw.
Good Fortune from Trade Equity!!!
Monday, May 12, 2008
Market Closer
The Dow is celebrating today. While the Dolans from Cablevision got 100% financing from the Bank of America, and Hewlett Packard goes after EDS, we are still in a credit crunch.
Yet, today is a good sign(after Jamie Dimon says the Credit Crunch is almost over and a deep recession is underway).
The Dow closed today 130.43 higher to 12876.31. The VIX closed down over 8% to 17.84.
LDK reports tonight at 6pm EST and we are expecting a solid earnings report. If you are interested in listening to the report live, you can call the 1800 here>>>
http://www.ldksolar.com/4-23-08.html
China is still reeling from the earthquake, and the chance of major disruptions for an extended period of time is slim to none we believe.
HSBC wrote down $5B today and walked away with a profit to change the tide of expectations for investors.
CNBC has a Portfolio Challenge going starting today. This is a great opportunity for a lot of people that might never have a chance to display their talent.
This year they have added Currency Trading. Hopefully next year they will add Options Trading.
Good Fortune from Trade Equity!!!
Yet, today is a good sign(after Jamie Dimon says the Credit Crunch is almost over and a deep recession is underway).
The Dow closed today 130.43 higher to 12876.31. The VIX closed down over 8% to 17.84.
LDK reports tonight at 6pm EST and we are expecting a solid earnings report. If you are interested in listening to the report live, you can call the 1800 here>>>
http://www.ldksolar.com/4-23-08.html
China is still reeling from the earthquake, and the chance of major disruptions for an extended period of time is slim to none we believe.
HSBC wrote down $5B today and walked away with a profit to change the tide of expectations for investors.
CNBC has a Portfolio Challenge going starting today. This is a great opportunity for a lot of people that might never have a chance to display their talent.
This year they have added Currency Trading. Hopefully next year they will add Options Trading.
Good Fortune from Trade Equity!!!
Post LunchBox
With the Market up 140 currently and the S&P is at 1402.
Hewlett Packard is very close to closing a deal for EDS worth $12-13B.
Oil is down about $2 pb, And the Financials and the retailers look strong today.
With the death toll over 8500 in China, trading has been haulted in the Sichuan province and Chongqing city for over 45 listed companies.
The earthquake could prove to be bullish for US commodites.
The VIX is currently trading under 18.
Oil companies are still some of the leaders today. While Humana is being investigated potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA"). The investigation focuses on investments in Humana by the Humana Retirement and Savings Plan.
Good Fortune from Trade Equity!!!
Hewlett Packard is very close to closing a deal for EDS worth $12-13B.
Oil is down about $2 pb, And the Financials and the retailers look strong today.
With the death toll over 8500 in China, trading has been haulted in the Sichuan province and Chongqing city for over 45 listed companies.
The earthquake could prove to be bullish for US commodites.
The VIX is currently trading under 18.
Oil companies are still some of the leaders today. While Humana is being investigated potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA"). The investigation focuses on investments in Humana by the Humana Retirement and Savings Plan.
Good Fortune from Trade Equity!!!
Post PreMarket Buzz
The earthquake in China has everyone wondering what, if any industries will be effected.
This week brings us many retailers reporting. While WalMart reports stronger numbers due to the suffering consumer, we think the majority of the retailers will show weakness. To play this trade, the XRT is a great ETF.
11:08 EST
Oil(USO) is changing direction, and you could see the retailers earlier liking the fact that oil was down for the day but with oil up 7 cents currently that might be changing.
LDK reports earnings today after the close. They reported initially they expected 39 cents per share, yet on their website they mention reporting 41-45 cents per share.
The website was updated on 3-5 and linked below.
http://media.corporate-ir.net/media_files/irol/19/196973/March_LDK_Management_Presentation_2008.pdf
Ann Taylor increased guidance today.
Cablevision is purchasing NewsDay.
Rimm unveils there latest technology.
Good Fortune from Trade Equity!!!
This week brings us many retailers reporting. While WalMart reports stronger numbers due to the suffering consumer, we think the majority of the retailers will show weakness. To play this trade, the XRT is a great ETF.
11:08 EST
Oil(USO) is changing direction, and you could see the retailers earlier liking the fact that oil was down for the day but with oil up 7 cents currently that might be changing.
LDK reports earnings today after the close. They reported initially they expected 39 cents per share, yet on their website they mention reporting 41-45 cents per share.
The website was updated on 3-5 and linked below.
http://media.corporate-ir.net/media_files/irol/19/196973/March_LDK_Management_Presentation_2008.pdf
Ann Taylor increased guidance today.
Cablevision is purchasing NewsDay.
Rimm unveils there latest technology.
Good Fortune from Trade Equity!!!
Friday, May 9, 2008
Market Closer 5-9-2008
The Dow closed today, down 120.90 to 12,745.88.
But the overall huge news this week is our slimy friend, oil. Up from $85 per barrel in Feb., to $125+ today. Up 1.84% just today, again.
Yet you ask where are the signs that oil is slowing our business cycle? Well had you asked me yesterday, I would have been hard pressed to give a you a real measure of slowing due to oil.
But today I can point you directly to FedEx and their after hour report stating that the cost of oil directly led to their profit in a range of $1.45 to $1.50 a share, down from its previous forecast of $1.60 to $1.80 a share. While the share price fell over 6% today, FedEx said that there estimated fuel cost has risen $100M since oil it $100 per barrel.
Is this the straw that will help pull back the transport run up we have witnessed?
***Maybe it is time to hire a trader(or 10) and start hedging 100% of the time? We love to trade, but that is just an idea.
ANB Financial is the 3rd bank to close and it happened today. If you want the full story, get it here, right from the stable owners mouth, not the horse. Keep your belt buckled as we prepare to see this 50 more times. This shoe will turn out to be a sandal, due to a government bail out.
You heard that here first, possibly. We are more concerned about your neighbor that has lost his residential checking account due to the lack of pre-governance between the Federal Gov(who regulates and licenses everything from airlines to stock brokers, but allowed every cowboy in the US to issue loans) and Mortgage industry.
http://www.fdic.gov/bank/individual/failed/anb.html
Keep an eye on who is financing the Democratic nominees, and as we draw closer to November, what the market does in coordination with news from the Democratic camp. It will be interesting as foreclosures peak in September, oil hits all time highs, and the Democrats look like they might be taking in more money than Senator McCain, from the same people that backed Bush in his campaign.
It looks like Bush, btw, might veto the bill from Barney Frank and Friends. Thank you.
Good Fortune from Trade Equity!!!
But the overall huge news this week is our slimy friend, oil. Up from $85 per barrel in Feb., to $125+ today. Up 1.84% just today, again.
Yet you ask where are the signs that oil is slowing our business cycle? Well had you asked me yesterday, I would have been hard pressed to give a you a real measure of slowing due to oil.
But today I can point you directly to FedEx and their after hour report stating that the cost of oil directly led to their profit in a range of $1.45 to $1.50 a share, down from its previous forecast of $1.60 to $1.80 a share. While the share price fell over 6% today, FedEx said that there estimated fuel cost has risen $100M since oil it $100 per barrel.
Is this the straw that will help pull back the transport run up we have witnessed?
***Maybe it is time to hire a trader(or 10) and start hedging 100% of the time? We love to trade, but that is just an idea.
ANB Financial is the 3rd bank to close and it happened today. If you want the full story, get it here, right from the stable owners mouth, not the horse. Keep your belt buckled as we prepare to see this 50 more times. This shoe will turn out to be a sandal, due to a government bail out.
You heard that here first, possibly. We are more concerned about your neighbor that has lost his residential checking account due to the lack of pre-governance between the Federal Gov(who regulates and licenses everything from airlines to stock brokers, but allowed every cowboy in the US to issue loans) and Mortgage industry.
http://www.fdic.gov/bank/individual/failed/anb.html
Keep an eye on who is financing the Democratic nominees, and as we draw closer to November, what the market does in coordination with news from the Democratic camp. It will be interesting as foreclosures peak in September, oil hits all time highs, and the Democrats look like they might be taking in more money than Senator McCain, from the same people that backed Bush in his campaign.
It looks like Bush, btw, might veto the bill from Barney Frank and Friends. Thank you.
Good Fortune from Trade Equity!!!
Market LunchBox
1:50 EST
Oil showed its biggest weekly gain in 2 years, and is $1.60 up for the session currently $125.29 pb.
Gold is up $4.20 to rise above $886 po.
The Dow is down 130 points currently, but still above 12700 at 12736.
If we can close above 12700 today, or 12750, Monday could be looking good.
Today is a buying opportunity for stocks that beat up after earnings and this week in general.
HANS missed earnings yesterday and is down today. You might take a look at it, and listen to the conference call on Hansens.com. The company took some cost this quarter it may not face next quarter leading us to believe it may show well next quarter. We would wait til it rounds the corner heading North, before you jump in.
LDK is still performing well for us, and BW looks very promising also.
We own both LDK and BW.
Good Fortune from Trade Equity!!!
Oil showed its biggest weekly gain in 2 years, and is $1.60 up for the session currently $125.29 pb.
Gold is up $4.20 to rise above $886 po.
The Dow is down 130 points currently, but still above 12700 at 12736.
If we can close above 12700 today, or 12750, Monday could be looking good.
Today is a buying opportunity for stocks that beat up after earnings and this week in general.
HANS missed earnings yesterday and is down today. You might take a look at it, and listen to the conference call on Hansens.com. The company took some cost this quarter it may not face next quarter leading us to believe it may show well next quarter. We would wait til it rounds the corner heading North, before you jump in.
LDK is still performing well for us, and BW looks very promising also.
We own both LDK and BW.
Good Fortune from Trade Equity!!!
PreMarket Buzz
Oil up, Financials down, and Retail down.
Bad news out of AIG, lead some to believe that this could be the end of the bear market rally that
the market has been enjoying since March 18th. We do not think this is the case. While oil strangles the US economy, we think oil and financials will bring us back down toward 12700-12100.
Citi is looking forward to many changes under Pandit.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWst.LBIN368&refer=home
After that, we might see 13500 on the DOW again.
Watch the SKF and the XRT today, not to mention the USO.
Good Fortune from Trade Equity!!!
Bad news out of AIG, lead some to believe that this could be the end of the bear market rally that
the market has been enjoying since March 18th. We do not think this is the case. While oil strangles the US economy, we think oil and financials will bring us back down toward 12700-12100.
Citi is looking forward to many changes under Pandit.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aWst.LBIN368&refer=home
After that, we might see 13500 on the DOW again.
Watch the SKF and the XRT today, not to mention the USO.
Good Fortune from Trade Equity!!!
Thursday, May 8, 2008
Market Close>5-8-08
The DOW finished up 54.23 to 12,866.78. Unable to hold onto earlier gains, the DOW looks to be trading in a range and doing a little consolidation during this period.
AIG reported a $7.81B loss for the quarter after the close today. And you can bet this will effect the financials for the 3rd day in a row tomorrow. They also mentioned raising $12.5B in capital and got downgraded by S&P also today.
Rough times for AIG and by looking at the chart, we might see AIG in the $40-50 for the next 3-6 months, or when the write downs slow down.
Chevron also took a major hit today when it announced layoffs of 1000 workers after reporting income of over $5B.
We like the SKF over the next week, as fundamentals continue to write the story
and the Feds start to push on the FHA housing plan on the plate of Barney Frank. This bill is estimated at a cost of $2.7B over 5 years. One might think, due to history, this plan might cost double the amount they are currently estimating. If that happens we can count on the SKF rallying for decades or maybe only several years.
Feel free to call or write Barney Frank and let him know your thoughts on propping up housing markets, federal give away programs, and waisting tax payer dollars on free markets.
Good Fortune from Trade Equity!!!
Thursday Late Lunch
3:23pm
After being up as much as 90+ points, the DOW is now only up 20 points.
Gold(GLD) is heading higher for the 3rd day, and oil is down by .88 cents. Keep an eye on GLD over the next 2-3 months. We could be heading higher as the world feels inflation from fuel and food.
Retail is starting to slip a bit on news that the retailers that are heading higher are the same ones that selling groceries and gasoline.
It looks like the DBA is up slightly to $37.02. Meaning the Ag trade look as if it could be heading higher.
But the big news today is the Bank of England, deciding to keep interest rate the same, while the belief was that they needed to lower much like the US.
Good Fortune from Trade Equity!!!
After being up as much as 90+ points, the DOW is now only up 20 points.
Gold(GLD) is heading higher for the 3rd day, and oil is down by .88 cents. Keep an eye on GLD over the next 2-3 months. We could be heading higher as the world feels inflation from fuel and food.
Retail is starting to slip a bit on news that the retailers that are heading higher are the same ones that selling groceries and gasoline.
It looks like the DBA is up slightly to $37.02. Meaning the Ag trade look as if it could be heading higher.
But the big news today is the Bank of England, deciding to keep interest rate the same, while the belief was that they needed to lower much like the US.
Good Fortune from Trade Equity!!!
Thursday PreMarket
The open today looks positive. Retailers(XRT) look to be leading the pack. Within 30 seconds of opening the DOW is up 35.
We look for a strong day due to the fact Unemployment Claims came in under the forecast. The number that was issued was 365K, while the forecast was 370k.
Meanwhile Oil is currently down .23. The VIX is down .04 to 19.75.
The economy has hurt some and helped others. Wal-Mart and Costco are reporting higher revenues due tougher times. Costco sales advanced 8% year over year.
Toyota suffers 28% in net profit.
But the larger story today is the fact that the lawsuits are starting to roll in for
improper investing by State Street. Prudential is suing them for over $7B.
Good Fortune from Trade Equity!!!
We look for a strong day due to the fact Unemployment Claims came in under the forecast. The number that was issued was 365K, while the forecast was 370k.
Meanwhile Oil is currently down .23. The VIX is down .04 to 19.75.
The economy has hurt some and helped others. Wal-Mart and Costco are reporting higher revenues due tougher times. Costco sales advanced 8% year over year.
Toyota suffers 28% in net profit.
But the larger story today is the fact that the lawsuits are starting to roll in for
improper investing by State Street. Prudential is suing them for over $7B.
Good Fortune from Trade Equity!!!
Wednesday, May 7, 2008
Market Close 5-7-2008
4:05pm EST
The DOW sold off today, possibly due to short covering on the announcement post yesterdays Fannie Mae increase on news of $6B in capital raising. The DOW closed at 12813.78, down 207 today. S&P closed at 1392.57, down 25+. Also, the general consensus says the market is concerned over a possible interest rate rise.
With the overall market down over 2%, the Financials keep selling off and XLF currently showing 3.78% down for the day.
Crude finished up $1.74, over $123 barrel.
AIG reports earnings tomorrow. This should be an important number for the market to follow.
While the SEC announce today that it was going to increase Broker disclosure of capital resources, MBI and UBS issued bad financial news that could lead to more headaches, and a possible "can of worms" for companies that marketed mortgage debt prior to the Subprime meltdown. They agreed to pay $35M back to 20 towns in Massachusetts.
The VIX jumped 8.3% today to 19.73. This could be a sign that increased volatility is on the rise.
Watch the 20 level for significant movement.
Good Fortune from Trade Equity!!!
The DOW sold off today, possibly due to short covering on the announcement post yesterdays Fannie Mae increase on news of $6B in capital raising. The DOW closed at 12813.78, down 207 today. S&P closed at 1392.57, down 25+. Also, the general consensus says the market is concerned over a possible interest rate rise.
With the overall market down over 2%, the Financials keep selling off and XLF currently showing 3.78% down for the day.
Crude finished up $1.74, over $123 barrel.
AIG reports earnings tomorrow. This should be an important number for the market to follow.
While the SEC announce today that it was going to increase Broker disclosure of capital resources, MBI and UBS issued bad financial news that could lead to more headaches, and a possible "can of worms" for companies that marketed mortgage debt prior to the Subprime meltdown. They agreed to pay $35M back to 20 towns in Massachusetts.
The VIX jumped 8.3% today to 19.73. This could be a sign that increased volatility is on the rise.
Watch the 20 level for significant movement.
Good Fortune from Trade Equity!!!
Wednesday Lunch
Oil announced over 5 million barrel surplus yet currently is up 1.29 per barrel.
The market is currently down 90 points with the financials leading the fall(small banks and mortgages), after showing a small gain around 10:30am EST.
Fluor announces two-for-one stock split (FLR) 162.57 currently.
It would be a plus if we could close above 13000 DOW today, but it is not looking good.
The VIX is up 2.58% but still under 19 at 18.68.
CRS and DRYS are up over 2.25% today
Good Fortune from Trade Equity!!!
The market is currently down 90 points with the financials leading the fall(small banks and mortgages), after showing a small gain around 10:30am EST.
Fluor announces two-for-one stock split (FLR) 162.57 currently.
It would be a plus if we could close above 13000 DOW today, but it is not looking good.
The VIX is up 2.58% but still under 19 at 18.68.
CRS and DRYS are up over 2.25% today
Good Fortune from Trade Equity!!!
PreMarket Buzz
Clearwire and Sprint are doing a $12B joint venture and Sprint is set to open 7% higher.
With 15 minutes to market open, oil is down .15, and the S&P Futures is down 1.5, DOW Futures are down 2.
Polycom(PLCM) announced a $300M share repurchase program this morning.
Transocean(RIG) and Owens Corning(OC) beat earnings estimates today
Keep an eye on the following announcements today:
Pending Home Sales(10 am EST)
Crude oil inventories(10:30 am EST)
Consumer Credit(3pm EST)
Good Fortune from Trade Equity!!!
With 15 minutes to market open, oil is down .15, and the S&P Futures is down 1.5, DOW Futures are down 2.
Polycom(PLCM) announced a $300M share repurchase program this morning.
Transocean(RIG) and Owens Corning(OC) beat earnings estimates today
Keep an eye on the following announcements today:
Pending Home Sales(10 am EST)
Crude oil inventories(10:30 am EST)
Consumer Credit(3pm EST)
Good Fortune from Trade Equity!!!
Tuesday, May 6, 2008
Tuesday Turnaround
After opening and going 100+points South, the DOW then headed North, inch by inch today. Closing 51.29 points up, at 13,020.83 and the S&P 1418.26.
Also you can see the graph, the MACD was making higher consistent lows, exhibiting strength.
On the open this morning, Fannie Mae noted a lost of $3Billion, cut its dividend to .25, and committed to raise over $6Billion. Most analyst say they should raise more capital. Yet the stock closed up 8.91%.
This is a positive sign that cannot be ignored while the VIX closed at 18.90 today.
Agriculture and Commodities are up again today. Oil and the DBA were both up. Oil set a new record after Goldman Sachs predicted a spike in oil to a possible 200 per barrel.
Keep in mind the summer driving season is always a historical time for gasoline/oil.
The dollar appreciation trade may be back on the scene, but prob not this week and possibly not before July 4th.
Financials finished strong today also.
Record oil prices has not shut down the equities, and everyone we hear talk, wants to mention all of the regional banks(1000 out of 3500) that risk failure. This could trigger a major downside for commerical real estate(IYR is the ETF).
After hours, Sprint announced it might do a deal with Clearwire, and with data growing quicker than voice, this could be a great match. Disney reported better than expected earnings due mainly to theme park management, and so did Cisco with higher revenue.
Good Fortune from Trade Equity!!!
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