Joined Dec 4, 2012
319 Blog Posts

Daily Playbook

December 20, 2012

In After Hours Trading

ACN (+.02), BBBY (+.01), MLHR (-.04), JBL (+.05), SCS (+.01).

What’s Happening This Morning

US futures: (S&P +1.250, DJI +8, NDX +4.80 with fair value lower) Asia and Europe higher. Copper and gold higher with WTI Crude Futures higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US ten-year Treasury Yield -.019. Prices as of 7:45 a.m. EST.

Earnings Expected

Earnings due after the close NKE RHT RIMM MU CTAS TIBX RECN FCEL. Due tomorrow morning before the open WAG SHAW PNY.

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

AAM (-.51), DRI (-.01), KBH (+.04), RAD (+.09), SCHL (-.16).

Data Points

Yesterday saw 1504 stocks rise and 1518 fall on the NYSE. NASDAQ saw 1236 rise and 1211 fall. The S&P 500 now back above its 50 day moving average and above the 200 day moving average. The 10 day spread moving average of breadth is positive. We are back to invested on the Madison Market Timing Indicator.



Q3 GDP is due out at 8:30 a.m. EST and is expected to rise to 2,8% from 2.7%. Then at 10:00 a.m. EST, November Existing Home Sales are due out and are expected to rise to 4.90 million from 4.79 million and November Leading Indicators are expected to fall to -0.2% from 0.2%.


House expected to vote on Boehner’s Plan B.

Conference & Analyst Meetings

None of note.

Conference of Note

None of note.

M & A News

ICE may bid for NYX at $33 a share.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs SLGN
Morgan Stanley
Deutsche Bank
Citigroup MTZ
Wachovia/Wells Fargo
Credit Suisse
Banc of America
Merrill Lynch
Jefferies LXP
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