Joined Dec 4, 2012
319 Blog Posts

Today’s Playbook

December 10, 2012

In After Hours Trading

Italian Prime Minister Mario Monti will step down.

What’s Happening This Morning

US futures: (S&P -3.20, DJI -23, NDX -6.50 with fair value higher) Asia higher and Europe lower. Copper and gold higher with WTI Crude Futures higher. $ is higher vs Euro, lower vs. Pound and lower vs. Yen. US ten-year Treasury Yield -.0205. Prices as of 7:50 a.m. EDT.

Earnings Expected

CASY ABM IRET TEA LDR PPHM SURG due after the close. Due Tuesday morning before the open DG PTRY.

Rags & Mags: Inside Wall Street

We are big fans of www.247wallst.com summary of the newspapers each day. Going forward we will link to their website so you can read their summary, Media Digest

Reported Earnings This Morning

FGP (+.04) AND CIS ( ).

Data Points

Yesterday saw 1642 stocks rise and 1347 fall on the NYSE. NASDAQ saw 1091 rise and 1241 fall. The S&P 500 is still below its 50 day moving average but back above the 200 day moving average. The 10 day spread moving average of breadth is positive and is now back to a buy signal. We are back to invested on the Madison Market Timing Indicator.



None of note today. Due this week PPI, CPI, retail sales and industrial production.


President Obama gives a speech on the fiscal cliff in Detroit today.

Conference & Analyst Meetings

Analyst Meetings LFUS TXN. Conferences of note Wells Fargo MLP & Energy Conference, Goldman Sachs Financial Services Conference and NASDAQ/OMX Morgan Stanley Investor Conference.

Conference of Note

American Society of Hematology Annual Meeting.

M & A News

AIG to sell its airplane leasing business to Chinese investors for $5.28 billion. Wanxiang wins auction for AONE in bankruptcy matter.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs CME
Morgan Stanley
Deutsche Bank
Citigroup MDU FBR
Wachovia/Wells Fargo
Credit Suisse
Banc of America
Merrill Lynch BBY
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