Joined Dec 4, 2012
319 Blog Posts

Daily Playbook

December 19, 2012

In After Hours Trading

AIR (+.04), APOG (+.05), HEI (+.01), ORCL (+.03).

What’s Happening This Morning

US futures: (S&P +3.50, DJI +35, NDX +10.80 with fair value lower) Asia higher and Europe higher. Copper and gold higher with WTI Crude Futures higher. $ is lower vs Euro, lower vs. Pound and flat vs. Yen. US ten-year Treasury Yield +.007. Prices as of 7:55 a.m. EST.

Earnings Expected

Earnings due after the close NKE RHT RIMM MU CTAS TIBX RECN FCEL. Due tomorrow morning before the open CCL DFS CAG KMX DRI KBH NEOG RAD SCHL WGO.

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

FDX (+.09), GIS (+.07), NAV (-10.46).

Data Points

Yesterday saw 2272 stocks rise and 793 fall on the NYSE. NASDAQ saw 1795 rise and 700 fall. The S&P 500 now back below its 50 day moving average and above the 200 day moving average. The 10 day spread moving average of breadth is now positive again, barely, and we remain with the buy signal but a turn may be forthcoming. We are back to invested on the Madison Market Timing Indicator.



November Housing Starts are due out at 8:30 a.m. EST and are expected to drop to 873,000 from 894,000.


Bank of England releases latest minutes. President Obama to appoint Vice President Biden to review gun control changes.

Conference & Analyst Meetings

Analyst Meetings JCI CBI.

Conference of Note

None of note.

M & A News

KCG receives a bid for $3.75 from GETCO.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs
Morgan Stanley
Deutsche Bank
Wachovia/Wells Fargo
Credit Suisse
Banc of America
Merrill Lynch
Jefferies ATRS
Cantor Fitzgerlad FB
Dahlman Rose
Sterne Agee
Stifel Nicolaus
Societe Generale
Keefe Bruyette
Friedman Billings
Robert W. Baird
Needham VTSS
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