Pts Morning Call 11-27-09
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THE DAILY BRIEF 2385 Executive Center Drive, Suite 400 • Boca Raton, Florida 33431 Phone: (561) 922-5266 • Fax: (561) 623-6235 www.prismtradingschool.com
Friday
11.27.2009
CURRENT MARKET SENTIMENT
Nothing matters more than the first, second and third print! As the market worries about what to do next, will there be contagion? The S&P came back from 1068 to 1082, pre-
market. Selling pressure is the key to a further move down. With half day, there is limited time for getting out orderly.
PRISM CALL
Expected moves that yield no trading opportunity! The market will sell first and reflect what’s next. The banks are the first to suffer from a sectoral point of view. Commodities are very likely to fair better. Be careful on the shorts given that we are so far down in one day.
ECONOMIC CALENDAR
NO ECONOMIC NUMBERS TODAY!
INDU & SPUZ TECHNICALS
INDICES INDU (DOW) SPUZ (S&P)
S2
S1
PIVOT
R1
R2
10155 10418
10456
10493
10516
1102
1109
1113
1115
1105
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.
FOREIGN MARKETS
NEWS
CRH CRH plc initiated with a Sell at ING Group (26.51 )
%
5189.1
5.03
-0.1
DAX
5611.64
2.53
-0.05
HANG SENG
21134.5
1075.91
-4.84
NIKKEI
9081.52
301.72
-3.22
CHINA
3096.2265
74.715
-2.36
MARKET
PRICE
FTSE
VLO Credit Suisse notes that the depressed refining environment continues Equity futures sharply lower after Dubai debt worries trigger overseas selloff Dubai World has $20 bln of loans and bonds coming due in the next 18 months, and the banks reportedly with the greatest exposure are concentrated in Europe, specifically the UK.
COMMODITY PRICES COMMODITY
PRICE
OIL
74.33
3.63
GOLD
1160.8
2.20
Bank of Japan checks rates, but intervention unlikely – Reuters FRO Frontline beats by $0.05, beats on revs (26.99 )
UPGRADES & DOWNGRADES STOCKS UPGRADED COMPANY
BROKERAGE FIRM
RATINGS CHANGE
QLT Inc (QLTI)
RBC Capital Mkts
Sector Perform » Outperform
Prudential Plc (PUK)
Citigroup
Hold » Buy
PRICE
TARGET
$4.50 » $6
STOCKS DOWNGRADED COMPANY
BROKERAGE FIRM
RATINGS CHANGE
CGI Group (GIB)
Scotia Capital
Sector Outperform » Sector Perform
ABB Ltd (ABB)
HSBC Securities
Overweight » Neutral
EuroBancshares (EUBK)
Keefe Bruyette
Outperform » Mkt Perform
PRICE
Page |2 www.prismtradingschool.com
TARGET
DE Deere: RBC lowers their FY10 revenue est below consensus following earnings Wednesday morning (53.70 )
TECHNICAL ANALYSIS
Symbol
S7
S6
S5
S4
S3
S2
S1
PIVOT
R1
R2
R3
R4
R5
R6
R7
1106.39
1108.85
1111.31
1112.07
1112.83
1115.28
1117.74
1119.26
1121.71
Sectors SPX
1095.99 1098.45 1099.97 1102.42 1104.88 1105.64
INDU
10334.53 10357.65 10371.94 10395.07 10418.19 10425.34 10432.45 10455.61 10478.76 10485.88 10493.02 10516.15 10539.27 10553.56 10576.69
NDX
1775.14 1778.35 1780.33 1783.54 1786.75 1787.74
1788.72
1791.94
1795.15
1796.14
1797.13
1800.34
1803.55
1805.53
1808.74
XBD
112.11 43.25 3909.98 683.08 183.76 485.66 768.38 390.11 302.88 396.16
112.41 43.44 3920.54 686.64 185.61 490.58 773.12 392.09 304.27 398.39
112.59 43.57 3927.06 688.84 186.75 493.63 776.06 393.31 305.12 399.77
112.90 43.76 3937.61 692.40 188.59 498.56 780.81 395.29 306.50 402.01
113.20 43.95 3948.17 695.96 190.44 503.48 785.55 397.27 307.89 404.24
113.29 44.02 3951.43 697.06 191.01 505.01 787.02 397.88 308.31 404.93
113.38 44.07 3954.67 698.16 191.58 506.52 788.48 398.49 308.74 405.62
113.69 44.27 3965.24 701.72 193.42 511.46 793.24 400.47 310.12 407.86
113.99 44.47 3975.81 705.28 195.27 516.39 797.99 402.45 311.51 410.09
114.08 44.53 3979.06 706.38 195.84 517.91 799.45 403.06 311.93 410.78
114.17 44.59 3982.32 707.48 196.41 519.43 800.92 403.67 312.36 411.47
114.48 44.78 3992.87 711.04 198.25 524.36 805.67 405.65 313.74 413.71
114.78 44.97 4003.43 714.60 200.10 529.28 810.41 407.63 315.13 415.94
114.96 45.10 4009.95 716.80 201.24 532.33 813.35 408.85 315.98 417.32
115.27 45.29 4020.50 720.36 203.08 537.26 818.10 410.83 317.36 419.56
109.87 103.28 43.72 54.17 58.35 113.32 55.66 18.48 72.36 8.53 34.88 36.52 23.47
110.13 103.52 43.80 54.37 58.56 114.57 56.08 18.68 73.15 8.60 35.04 37.02 23.64
110.29 103.67 43.85 54.49 58.70 115.34 56.34 18.81 73.65 8.64 35.15 37.32 23.74
110.55 103.92 43.93 54.69 58.91 116.60 56.77 19.01 74.44 8.71 35.32 37.82 23.91
110.81 110.89 104.16 104.24 44.01 44.03 54.89 54.95 59.12 59.19 117.85 118.24 57.20 57.33 19.21 19.28 75.24 75.49 8.78 8.80 35.48 35.54 38.32 38.47 24.08 24.13
110.97 104.31 44.06 55.01 59.26 118.62 57.46 19.34 75.73 8.82 35.59 38.62 24.18
111.23 104.56 44.14 55.21 59.47 119.88 57.89 19.54 76.53 8.89 35.76 39.12 24.35
111.49 104.80 44.22 55.41 59.68 121.13 58.31 19.74 77.33 8.96 35.92 39.62 24.52
111.57 104.88 44.24 55.47 59.75 121.52 58.44 19.81 77.58 8.98 35.98 39.77 24.57
111.65 104.95 44.27 55.53 59.82 121.90 58.57 19.87 77.82 9.00 36.03 39.92 24.62
111.91 105.20 44.35 55.73 60.03 123.16 59.00 20.07 78.62 9.07 36.20 40.42 24.79
112.17 105.44 44.43 55.93 60.24 124.41 59.43 20.27 79.42 9.14 36.36 40.92 24.96
112.33 105.59 44.48 56.05 60.38 125.18 59.69 20.40 79.91 9.18 36.47 41.22 25.06
112.59 105.84 44.56 56.25 60.59 126.44 60.12 20.60 80.71 9.25 36.64 41.72 25.23
BKX TRAN OIX OSX XNG CYC UTY DRG RLX Tradeables SPY DIA QQQQ QLD IWM OIH XLE FAZ FAS SRS SDS USO SKF
Page |3 www.prismtradingschool.com
Friday
11.27.2009
CURRENT MARKET SENTIMENT
Nothing matters more than the first, second and third print! As the market worries about what to do next, will there be contagion? The S&P came back from 1068 to 1082, pre-
market. Selling pressure is the key to a further move down. With half day, there is limited time for getting out orderly.
PRISM CALL
Expected moves that yield no trading opportunity! The market will sell first and reflect what’s next. The banks are the first to suffer from a sectoral point of view. Commodities are very likely to fair better. Be careful on the shorts given that we are so far down in one day.
ECONOMIC CALENDAR
NO ECONOMIC NUMBERS TODAY!
INDU & SPUZ TECHNICALS
INDICES INDU (DOW) SPUZ (S&P)
S2
S1
PIVOT
R1
R2
10155 10418
10456
10493
10516
1102
1109
1113
1115
1105
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.
FOREIGN MARKETS
NEWS
CRH CRH plc initiated with a Sell at ING Group (26.51 )
%
5189.1
5.03
-0.1
DAX
5611.64
2.53
-0.05
HANG SENG
21134.5
1075.91
-4.84
NIKKEI
9081.52
301.72
-3.22
CHINA
3096.2265
74.715
-2.36
MARKET
PRICE
FTSE
VLO Credit Suisse notes that the depressed refining environment continues Equity futures sharply lower after Dubai debt worries trigger overseas selloff Dubai World has $20 bln of loans and bonds coming due in the next 18 months, and the banks reportedly with the greatest exposure are concentrated in Europe, specifically the UK.
COMMODITY PRICES COMMODITY
PRICE
OIL
74.33
3.63
GOLD
1160.8
2.20
Bank of Japan checks rates, but intervention unlikely – Reuters FRO Frontline beats by $0.05, beats on revs (26.99 )
UPGRADES & DOWNGRADES STOCKS UPGRADED COMPANY
BROKERAGE FIRM
RATINGS CHANGE
QLT Inc (QLTI)
RBC Capital Mkts
Sector Perform » Outperform
Prudential Plc (PUK)
Citigroup
Hold » Buy
PRICE
TARGET
$4.50 » $6
STOCKS DOWNGRADED COMPANY
BROKERAGE FIRM
RATINGS CHANGE
CGI Group (GIB)
Scotia Capital
Sector Outperform » Sector Perform
ABB Ltd (ABB)
HSBC Securities
Overweight » Neutral
EuroBancshares (EUBK)
Keefe Bruyette
Outperform » Mkt Perform
PRICE
Page |2 www.prismtradingschool.com
TARGET
DE Deere: RBC lowers their FY10 revenue est below consensus following earnings Wednesday morning (53.70 )
TECHNICAL ANALYSIS
Symbol
S7
S6
S5
S4
S3
S2
S1
PIVOT
R1
R2
R3
R4
R5
R6
R7
1106.39
1108.85
1111.31
1112.07
1112.83
1115.28
1117.74
1119.26
1121.71
Sectors SPX
1095.99 1098.45 1099.97 1102.42 1104.88 1105.64
INDU
10334.53 10357.65 10371.94 10395.07 10418.19 10425.34 10432.45 10455.61 10478.76 10485.88 10493.02 10516.15 10539.27 10553.56 10576.69
NDX
1775.14 1778.35 1780.33 1783.54 1786.75 1787.74
1788.72
1791.94
1795.15
1796.14
1797.13
1800.34
1803.55
1805.53
1808.74
XBD
112.11 43.25 3909.98 683.08 183.76 485.66 768.38 390.11 302.88 396.16
112.41 43.44 3920.54 686.64 185.61 490.58 773.12 392.09 304.27 398.39
112.59 43.57 3927.06 688.84 186.75 493.63 776.06 393.31 305.12 399.77
112.90 43.76 3937.61 692.40 188.59 498.56 780.81 395.29 306.50 402.01
113.20 43.95 3948.17 695.96 190.44 503.48 785.55 397.27 307.89 404.24
113.29 44.02 3951.43 697.06 191.01 505.01 787.02 397.88 308.31 404.93
113.38 44.07 3954.67 698.16 191.58 506.52 788.48 398.49 308.74 405.62
113.69 44.27 3965.24 701.72 193.42 511.46 793.24 400.47 310.12 407.86
113.99 44.47 3975.81 705.28 195.27 516.39 797.99 402.45 311.51 410.09
114.08 44.53 3979.06 706.38 195.84 517.91 799.45 403.06 311.93 410.78
114.17 44.59 3982.32 707.48 196.41 519.43 800.92 403.67 312.36 411.47
114.48 44.78 3992.87 711.04 198.25 524.36 805.67 405.65 313.74 413.71
114.78 44.97 4003.43 714.60 200.10 529.28 810.41 407.63 315.13 415.94
114.96 45.10 4009.95 716.80 201.24 532.33 813.35 408.85 315.98 417.32
115.27 45.29 4020.50 720.36 203.08 537.26 818.10 410.83 317.36 419.56
109.87 103.28 43.72 54.17 58.35 113.32 55.66 18.48 72.36 8.53 34.88 36.52 23.47
110.13 103.52 43.80 54.37 58.56 114.57 56.08 18.68 73.15 8.60 35.04 37.02 23.64
110.29 103.67 43.85 54.49 58.70 115.34 56.34 18.81 73.65 8.64 35.15 37.32 23.74
110.55 103.92 43.93 54.69 58.91 116.60 56.77 19.01 74.44 8.71 35.32 37.82 23.91
110.81 110.89 104.16 104.24 44.01 44.03 54.89 54.95 59.12 59.19 117.85 118.24 57.20 57.33 19.21 19.28 75.24 75.49 8.78 8.80 35.48 35.54 38.32 38.47 24.08 24.13
110.97 104.31 44.06 55.01 59.26 118.62 57.46 19.34 75.73 8.82 35.59 38.62 24.18
111.23 104.56 44.14 55.21 59.47 119.88 57.89 19.54 76.53 8.89 35.76 39.12 24.35
111.49 104.80 44.22 55.41 59.68 121.13 58.31 19.74 77.33 8.96 35.92 39.62 24.52
111.57 104.88 44.24 55.47 59.75 121.52 58.44 19.81 77.58 8.98 35.98 39.77 24.57
111.65 104.95 44.27 55.53 59.82 121.90 58.57 19.87 77.82 9.00 36.03 39.92 24.62
111.91 105.20 44.35 55.73 60.03 123.16 59.00 20.07 78.62 9.07 36.20 40.42 24.79
112.17 105.44 44.43 55.93 60.24 124.41 59.43 20.27 79.42 9.14 36.36 40.92 24.96
112.33 105.59 44.48 56.05 60.38 125.18 59.69 20.40 79.91 9.18 36.47 41.22 25.06
112.59 105.84 44.56 56.25 60.59 126.44 60.12 20.60 80.71 9.25 36.64 41.72 25.23
BKX TRAN OIX OSX XNG CYC UTY DRG RLX Tradeables SPY DIA QQQQ QLD IWM OIH XLE FAZ FAS SRS SDS USO SKF
Page |3 www.prismtradingschool.com
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