Prism Morning Call 10-26-09
This document was uploaded by user and they confirmed that they have the permission to share it. If you are author or own the copyright of this book, please report to us by using this DMCA report form. Report DMCA
Overview
Download & View Prism Morning Call 10-26-09 as PDF for free.
More details
- Words: 1,444
- Pages: 4
DAILY MARKET HIGHLIGHTS 2385 Executive Center Drive, Suite 400 • Boca Raton, Florida 33431 Phone: (561) 922& 922&5266 • Fax: (561) 623& 623&6235 www.prismtradingschool.com
Monday
10.26.2009
CURRENT MARKET SENTIMENT
A
kiss of death on Wednesday led to resuscitation on Thursday only to be back at the precipice on Friday, leaving the indices to finish below the weekly pivot at 9972 Dow and 1072 S&P. Will Monday test the point of no return 9900-9920 prior to the big Kahuna-
GDP number (3% expected) or, is there room for the shake and bake until that time? Everyone is expecting 11% correction, with no insurance policy taken on the downside, we expect a volatile week. Monday might be a picture perfect replica of Thursday.
PRISM CALL
This weak we are expecting alot of choppiness, so take profits as you have it. The market will probably show little overall direction before Thursday. My bias is to the upside, so be careful shorting. Any down move will probably be controlled. Until real selling pressure comes in, this market won't sell off. INDU & SPUZ TECHNICALS
ECONOMIC CALENDAR
INDICES
S2
S1
PIVOT
R1
R2
INDU (DOW)
9846
9917
10034
10150
10222
1087
1100
1108
SPUZ (S&P)
1066
1074
TIME
INDICATOR
Chicago Fed Nat activity Index
RANGE
EXPECTATION
PRIOR
ACTUAL
-0.9%
FOREIGN MARKETS %
MARKET
PRICE
FTSE
5254.38
11.81
0.23
DAX
5768.53
28.28
0.49
HANG SENG
22589.73
-
NIKKEI
10362.62
79.63
0.77
CHINA
3109.566
1.719
0.06
-
-
Page |1 RISK DISCLAIMER: There is a very high degree of risk involved in trading equities. Trading is not for every investor and only risk capital should be used. Past results are not indicative of future returns. Prism Trading School, LLC (“Prism”) and all individuals affiliated with Prism assume no responsibilities for your trading and investment results. The indicators, strategies, articles and all other features are for educational purposes only and should not be construed as investment advice. Any person who chooses to use this information as a basis for their trading assumes all the liability and risk for themselves and hereby and absolutely agrees to indemnify and hold harmless Prism, its principals, agents and employees. All of the material contained herein is believed to be correct, however, Prism will not be held responsible for accidental oversights, typos or incorrect information from sources that generate fundamental and technical information. Prism does not warrant the completeness or accuracy of such information, and does not warrant any results from the use of the information. Your use of Prism materials is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade and make your own independent decisions regarding any securities mentioned herein. Prism affiliates may have a position or effect transactions in the securities described herein (or options thereon) and/or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies.
DOW STOCKS TO WATCH STRONG
COMMODITY PRICES
NEWS
WEAK
HPQ
BAC
TRV
BA
MCD
HD
MMM
MRK
COMMODITY
PRICE
OIL
80.44
0.06
GOLD
1055.5
0.90
ETH Ethan Allen issues downside EPS and revenue guidance for 1Q10 and expands revolving credit facility (16.67 ) Germans more upbeat on economy, less so on finances – DJ FSA announces strict financial reporting disclosure code – DJ BAC Takeaways from regional banks' earnings; de-leveraging continues FBR Capital Mkts
UPGRADES & DOWNGRADES
ARNA Arena Pharma reports data from BLOOM Ph. 3 trial (4.34 )
STOCKS UPGRADED COMPANY
BROKERAGE FIRM
RATINGS CHANGE
PRICE
TARGET
American Express (AXP)
Stifel Nicolaus
Hold >> Buy
34.58
50
ING ING to split off insurance unit, launch rights issue; preannounces 3Q results - WSJ (17.37 ) Aetna, WellPoint and other managedcare stocks mentioned positively in Barron's
STOCKS DOWNGRADED COMPANY
BROKERAGE FIRM
RATINGS CHANGE
PRICE
H&R Block (HRB)
Morgan Stanley
Equal Weight >> Underweight
19.46
Pearson Plc (PSO)
Stifel Nicolaus
Buy >> Hold
13.88
KBR Inc (KBR)
Stufel Nicolaus
Hold
24.02
TARGET
COMDX Natural gas is selling off in electronic trade this morning and has recently dropped to fresh lows at $4.592; currently lower by 18.8 cents to $4.599 GRMN Garmin removed from Conviction Sell list at Goldman- Reuters (37.92 ) GLD Oppenheimer believes gold optimism is misplaced (103.49 ) U.S. considers reining in ‘too big to fail’ institutions - NY Times Senate on verge of health bill – WSJ Fall in yuan worries China's rivals – WSJ Jefferies says that with the recent surge in the OSX and overall energy tape, they would be very selective in putting new money to work in their universe Capmark files for bankruptcy protection – WSJ
Page |2 www.prismtradingschool.com
EARNINGS
LO Lorillard misses by $0.08, beats on revs (79.82 ) VZ Verizon beats by $0.01, reports revs in-line (28.85 ) ING ING Group: EU says hopes to take ING restructuring decision in coming weeks - DJ (17.37 ) -UpdateBGC General Cable beats by $0.02, reports revs in-line; guides Q4 EPS below consensus, revs in-line (38.60 ) WRI Weingarten Realty misses by $0.04, reports revs in-line; raises FY09 FFO guidance; guides FY10 FFO in-line (20.55 ) MHP McGraw-Hill beats by $0.02, misses on revs; sees hitting top end of prior guidance (30.49 ) ROC Rockwood Holdings beats by $0.04, beats on revs (19.93 ) NOV Natl Oilwell Varco beats by $0.16, beats on revs (46.89 ) ROP Roper Inds misses by $0.01, misses on revs; guides FY09 EPS in-line (52.21 ) GLW Corning beats by $0.03, beats on revs; co sees Q4 glass volume flat to down slightly with pricing similar QoQ (15.65 ) RSH RadioShack reports Q3 (Sep) results, beats on revs (15.66 ) AGP Amerigroup issues lower 3Q09 EPS guidance; doesn't expect to meet FY09 EPS guidance and withdraws guidance for current year (22.59 ) BWP Boardwalk Pipeline misses by $0.09, misses on revs (26.53 ) MRVL Marvell raises 3Q10 revenue guidance (14.58 ) MOS Mosaic declares special cash dividend of $1.30 per share; reaffirms 2010 capital spending guidance (51.79 )
Page |3 www.prismtradingschool.com
TECHNICAL ANALYSIS Symbol
S7
S6
S5
S4
S3
S2
S1
PIVOT
R1
R2
R3
R4
R5
R6
R7
1091.42
1093.81
1096.21
1103.98
1111.75
1116.55
1124.32
Sectors spx.xo
1042.96 1050.73 1055.53 1063.30 1071.07 1073.47
1075.86
1083.64
indu.x
9650.61 9718.25 9760.04 9827.68 9895.32 9916.22
9937.02
10004.75 10072.48 10093.29 10114.18 10181.82 10249.46 10291.25 10358.89
NDX.x
1703.00 1713.90 1720.63 1731.54 1742.44 1745.81
1749.16
1760.08
xbd.x
110.95 44.23 3543.29 660.26 186.68 482.32 743.31 381.85 283.46 375.29
bkx.x tran.x oix.xo osx.x xng.x cyc.x uty.x drg.x rlx.xo
112.56 44.71 3601.12 667.67 190.42 490.50 751.42 385.00 285.29 379.00
113.55 45.00 3636.85 672.25 192.74 495.55 756.43 386.95 286.41 381.29
115.17 45.47 3694.68 679.67 196.49 503.73 764.54 390.10 288.23 385.00
116.78 45.95 3752.51 687.08 200.23 511.91 772.65 393.25 290.06 388.71
1770.99
1774.35
1777.71
1788.62
1799.52
1806.25
1817.16
117.28 117.77 119.39 121.00 121.50 121.99 123.61 125.22 126.21 127.83 46.09 46.24 46.71 47.19 47.33 47.48 47.95 48.43 48.72 49.19 3770.37 3788.16 3846.07 3903.97 3921.76 3939.63 3997.46 4055.29 4091.02 4148.85 689.37 691.65 699.08 706.50 708.78 711.07 718.49 725.90 730.48 737.90 201.39 202.54 206.30 210.05 211.20 212.36 216.11 219.85 222.17 225.92 514.43 516.95 525.14 533.33 535.84 538.37 546.55 554.73 559.78 567.96 775.16 777.65 785.77 793.89 796.39 798.89 807.00 815.11 820.12 828.23 394.22 395.19 398.35 401.50 402.47 403.45 406.60 409.75 411.70 414.85 290.62 291.18 293.00 294.83 295.39 295.95 297.77 299.60 300.72 302.54 389.85 390.99 394.71 398.42 399.56 400.71 404.42 408.13 410.42 414.13
Tradeables SPY DIA QQQQ QLD IWM OIH XLE FAZ FAS SRS SDS USO SKF
104.23 105.04 105.55 106.36 107.17 96.69 97.34 97.74 98.39 99.04 41.87 42.14 42.31 42.58 42.85 49.90 50.58 50.99 51.66 52.34 57.15 57.80 58.21 58.86 59.51 116.19 118.45 119.84 122.09 124.35 54.57 55.35 55.83 56.61 57.39 16.52 17.02 17.33 17.83 18.33 72.36 74.70 76.15 78.49 80.83 8.70 8.87 8.97 9.13 9.30 35.15 35.70 36.04 36.59 37.14 39.53 39.84 40.02 40.32 40.63 21.68 22.11 22.37 22.79 23.22
107.43 99.24 42.94 52.54 59.71 125.04 57.63 18.49 81.56 9.35 37.31 40.72 23.35
107.68 99.44 43.02 52.75 59.92 125.74 57.87 18.64 82.28 9.40 37.48 40.81 23.48
108.49 100.09 43.29 53.42 60.57 127.99 58.65 19.14 84.62 9.56 38.03 41.11 23.90
109.30 100.74 43.56 54.10 61.22 130.25 59.43 19.64 86.97 9.73 38.58 41.42 24.33
Page |4 www.prismtradingschool.com
109.56 100.94 43.65 54.30 61.42 130.94 59.67 19.80 87.69 9.78 38.75 41.51 24.46
109.81 101.14 43.73 54.51 61.63 131.64 59.91 19.95 88.41 9.83 38.92 41.60 24.59
110.62 101.79 44.00 55.18 62.28 133.89 60.69 20.45 90.75 9.99 39.47 41.90 25.01
111.43 102.44 44.27 55.86 62.93 136.15 61.47 20.95 93.09 10.16 40.02 42.21 25.44
111.94 102.84 44.44 56.27 63.34 137.54 61.95 21.26 94.54 10.26 40.36 42.39 25.70
112.75 103.49 44.71 56.94 63.99 139.79 62.73 21.76 96.88 10.42 40.91 42.69 26.12
Monday
10.26.2009
CURRENT MARKET SENTIMENT
A
kiss of death on Wednesday led to resuscitation on Thursday only to be back at the precipice on Friday, leaving the indices to finish below the weekly pivot at 9972 Dow and 1072 S&P. Will Monday test the point of no return 9900-9920 prior to the big Kahuna-
GDP number (3% expected) or, is there room for the shake and bake until that time? Everyone is expecting 11% correction, with no insurance policy taken on the downside, we expect a volatile week. Monday might be a picture perfect replica of Thursday.
PRISM CALL
This weak we are expecting alot of choppiness, so take profits as you have it. The market will probably show little overall direction before Thursday. My bias is to the upside, so be careful shorting. Any down move will probably be controlled. Until real selling pressure comes in, this market won't sell off. INDU & SPUZ TECHNICALS
ECONOMIC CALENDAR
INDICES
S2
S1
PIVOT
R1
R2
INDU (DOW)
9846
9917
10034
10150
10222
1087
1100
1108
SPUZ (S&P)
1066
1074
TIME
INDICATOR
Chicago Fed Nat activity Index
RANGE
EXPECTATION
PRIOR
ACTUAL
-0.9%
FOREIGN MARKETS %
MARKET
PRICE
FTSE
5254.38
11.81
0.23
DAX
5768.53
28.28
0.49
HANG SENG
22589.73
-
NIKKEI
10362.62
79.63
0.77
CHINA
3109.566
1.719
0.06
-
-
Page |1 RISK DISCLAIMER: There is a very high degree of risk involved in trading equities. Trading is not for every investor and only risk capital should be used. Past results are not indicative of future returns. Prism Trading School, LLC (“Prism”) and all individuals affiliated with Prism assume no responsibilities for your trading and investment results. The indicators, strategies, articles and all other features are for educational purposes only and should not be construed as investment advice. Any person who chooses to use this information as a basis for their trading assumes all the liability and risk for themselves and hereby and absolutely agrees to indemnify and hold harmless Prism, its principals, agents and employees. All of the material contained herein is believed to be correct, however, Prism will not be held responsible for accidental oversights, typos or incorrect information from sources that generate fundamental and technical information. Prism does not warrant the completeness or accuracy of such information, and does not warrant any results from the use of the information. Your use of Prism materials is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness of the information. You must assess the risk of any trade and make your own independent decisions regarding any securities mentioned herein. Prism affiliates may have a position or effect transactions in the securities described herein (or options thereon) and/or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies.
DOW STOCKS TO WATCH STRONG
COMMODITY PRICES
NEWS
WEAK
HPQ
BAC
TRV
BA
MCD
HD
MMM
MRK
COMMODITY
PRICE
OIL
80.44
0.06
GOLD
1055.5
0.90
ETH Ethan Allen issues downside EPS and revenue guidance for 1Q10 and expands revolving credit facility (16.67 ) Germans more upbeat on economy, less so on finances – DJ FSA announces strict financial reporting disclosure code – DJ BAC Takeaways from regional banks' earnings; de-leveraging continues FBR Capital Mkts
UPGRADES & DOWNGRADES
ARNA Arena Pharma reports data from BLOOM Ph. 3 trial (4.34 )
STOCKS UPGRADED COMPANY
BROKERAGE FIRM
RATINGS CHANGE
PRICE
TARGET
American Express (AXP)
Stifel Nicolaus
Hold >> Buy
34.58
50
ING ING to split off insurance unit, launch rights issue; preannounces 3Q results - WSJ (17.37 ) Aetna, WellPoint and other managedcare stocks mentioned positively in Barron's
STOCKS DOWNGRADED COMPANY
BROKERAGE FIRM
RATINGS CHANGE
PRICE
H&R Block (HRB)
Morgan Stanley
Equal Weight >> Underweight
19.46
Pearson Plc (PSO)
Stifel Nicolaus
Buy >> Hold
13.88
KBR Inc (KBR)
Stufel Nicolaus
Hold
24.02
TARGET
COMDX Natural gas is selling off in electronic trade this morning and has recently dropped to fresh lows at $4.592; currently lower by 18.8 cents to $4.599 GRMN Garmin removed from Conviction Sell list at Goldman- Reuters (37.92 ) GLD Oppenheimer believes gold optimism is misplaced (103.49 ) U.S. considers reining in ‘too big to fail’ institutions - NY Times Senate on verge of health bill – WSJ Fall in yuan worries China's rivals – WSJ Jefferies says that with the recent surge in the OSX and overall energy tape, they would be very selective in putting new money to work in their universe Capmark files for bankruptcy protection – WSJ
Page |2 www.prismtradingschool.com
EARNINGS
LO Lorillard misses by $0.08, beats on revs (79.82 ) VZ Verizon beats by $0.01, reports revs in-line (28.85 ) ING ING Group: EU says hopes to take ING restructuring decision in coming weeks - DJ (17.37 ) -UpdateBGC General Cable beats by $0.02, reports revs in-line; guides Q4 EPS below consensus, revs in-line (38.60 ) WRI Weingarten Realty misses by $0.04, reports revs in-line; raises FY09 FFO guidance; guides FY10 FFO in-line (20.55 ) MHP McGraw-Hill beats by $0.02, misses on revs; sees hitting top end of prior guidance (30.49 ) ROC Rockwood Holdings beats by $0.04, beats on revs (19.93 ) NOV Natl Oilwell Varco beats by $0.16, beats on revs (46.89 ) ROP Roper Inds misses by $0.01, misses on revs; guides FY09 EPS in-line (52.21 ) GLW Corning beats by $0.03, beats on revs; co sees Q4 glass volume flat to down slightly with pricing similar QoQ (15.65 ) RSH RadioShack reports Q3 (Sep) results, beats on revs (15.66 ) AGP Amerigroup issues lower 3Q09 EPS guidance; doesn't expect to meet FY09 EPS guidance and withdraws guidance for current year (22.59 ) BWP Boardwalk Pipeline misses by $0.09, misses on revs (26.53 ) MRVL Marvell raises 3Q10 revenue guidance (14.58 ) MOS Mosaic declares special cash dividend of $1.30 per share; reaffirms 2010 capital spending guidance (51.79 )
Page |3 www.prismtradingschool.com
TECHNICAL ANALYSIS Symbol
S7
S6
S5
S4
S3
S2
S1
PIVOT
R1
R2
R3
R4
R5
R6
R7
1091.42
1093.81
1096.21
1103.98
1111.75
1116.55
1124.32
Sectors spx.xo
1042.96 1050.73 1055.53 1063.30 1071.07 1073.47
1075.86
1083.64
indu.x
9650.61 9718.25 9760.04 9827.68 9895.32 9916.22
9937.02
10004.75 10072.48 10093.29 10114.18 10181.82 10249.46 10291.25 10358.89
NDX.x
1703.00 1713.90 1720.63 1731.54 1742.44 1745.81
1749.16
1760.08
xbd.x
110.95 44.23 3543.29 660.26 186.68 482.32 743.31 381.85 283.46 375.29
bkx.x tran.x oix.xo osx.x xng.x cyc.x uty.x drg.x rlx.xo
112.56 44.71 3601.12 667.67 190.42 490.50 751.42 385.00 285.29 379.00
113.55 45.00 3636.85 672.25 192.74 495.55 756.43 386.95 286.41 381.29
115.17 45.47 3694.68 679.67 196.49 503.73 764.54 390.10 288.23 385.00
116.78 45.95 3752.51 687.08 200.23 511.91 772.65 393.25 290.06 388.71
1770.99
1774.35
1777.71
1788.62
1799.52
1806.25
1817.16
117.28 117.77 119.39 121.00 121.50 121.99 123.61 125.22 126.21 127.83 46.09 46.24 46.71 47.19 47.33 47.48 47.95 48.43 48.72 49.19 3770.37 3788.16 3846.07 3903.97 3921.76 3939.63 3997.46 4055.29 4091.02 4148.85 689.37 691.65 699.08 706.50 708.78 711.07 718.49 725.90 730.48 737.90 201.39 202.54 206.30 210.05 211.20 212.36 216.11 219.85 222.17 225.92 514.43 516.95 525.14 533.33 535.84 538.37 546.55 554.73 559.78 567.96 775.16 777.65 785.77 793.89 796.39 798.89 807.00 815.11 820.12 828.23 394.22 395.19 398.35 401.50 402.47 403.45 406.60 409.75 411.70 414.85 290.62 291.18 293.00 294.83 295.39 295.95 297.77 299.60 300.72 302.54 389.85 390.99 394.71 398.42 399.56 400.71 404.42 408.13 410.42 414.13
Tradeables SPY DIA QQQQ QLD IWM OIH XLE FAZ FAS SRS SDS USO SKF
104.23 105.04 105.55 106.36 107.17 96.69 97.34 97.74 98.39 99.04 41.87 42.14 42.31 42.58 42.85 49.90 50.58 50.99 51.66 52.34 57.15 57.80 58.21 58.86 59.51 116.19 118.45 119.84 122.09 124.35 54.57 55.35 55.83 56.61 57.39 16.52 17.02 17.33 17.83 18.33 72.36 74.70 76.15 78.49 80.83 8.70 8.87 8.97 9.13 9.30 35.15 35.70 36.04 36.59 37.14 39.53 39.84 40.02 40.32 40.63 21.68 22.11 22.37 22.79 23.22
107.43 99.24 42.94 52.54 59.71 125.04 57.63 18.49 81.56 9.35 37.31 40.72 23.35
107.68 99.44 43.02 52.75 59.92 125.74 57.87 18.64 82.28 9.40 37.48 40.81 23.48
108.49 100.09 43.29 53.42 60.57 127.99 58.65 19.14 84.62 9.56 38.03 41.11 23.90
109.30 100.74 43.56 54.10 61.22 130.25 59.43 19.64 86.97 9.73 38.58 41.42 24.33
Page |4 www.prismtradingschool.com
109.56 100.94 43.65 54.30 61.42 130.94 59.67 19.80 87.69 9.78 38.75 41.51 24.46
109.81 101.14 43.73 54.51 61.63 131.64 59.91 19.95 88.41 9.83 38.92 41.60 24.59
110.62 101.79 44.00 55.18 62.28 133.89 60.69 20.45 90.75 9.99 39.47 41.90 25.01
111.43 102.44 44.27 55.86 62.93 136.15 61.47 20.95 93.09 10.16 40.02 42.21 25.44
111.94 102.84 44.44 56.27 63.34 137.54 61.95 21.26 94.54 10.26 40.36 42.39 25.70
112.75 103.49 44.71 56.94 63.99 139.79 62.73 21.76 96.88 10.42 40.91 42.69 26.12
Related Documents
Prism Morning Call 09-08-09
May 2020 0
Prism Morning Call 10-26-09
June 2020 3
Prism Morning Call 10-12-09
June 2020 3
Prism Morning Call 09-21-09
June 2020 3
Prism Morning Call 09-14-09
June 2020 3