Joined Dec 4, 2012
319 Blog Posts

Daily P/Laybook

February 6, 2013

In After Hours Trading

CERN (+.03) CMG (-.01) GNW (+.06) MYGN (+.04) PNRA (+.01) SFLY (+.39) USNA (+06).

What’s Happening This Morning

US futures: (S&P -2.50, DJI -10, NDX -8.20 with fair value higher) Asia lower ex Shanghai and Europe higher. Copper lower and gold higher with WTI Crude and Brent Oil Futures lower. $ is higher vs Euro, lower vs. Pound and lower vs. Yen. US ten-year Treasury Yield -.0179. Prices as of 8:00 a.m. EST.

Earnings Expected

Due after the close today V PRU ALL PAA ORLY FMC AKAM EFX CINF GMCE among others and due tomorrow morning CS BCE TEVA MFC EXC NBL S SNE HOT BG TDC SIAL among others.

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

CMI(+.25) CVS (+.04) ELN(+.11) MSG (+.00) MRO (-.12) SMG (+.01) TWX (+.07) WYN (+.03)

Data Points

Yesterday saw 2185 stocks rise and 807 fall on the NYSE. NASDAQ saw 1806 rise and 683 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.


Markets in Taiwan are closed both today and Thursday.


None of note today other than weekly MBA Mortgage Applications that came in at +3.4% versus -8.1% and Crude Inventories due at 10:30 a.m. EST.


Sequester seems to be moving forward as House GOP and President Obama hold firm on their positions.

Conference & Analyst Meetings

Analyst meetings TRI MWV IPCI UTX NOC. Grocery Manufacturers Food Marketing Institute Supply Chain Conference, Stifel Technology & Telecom Conference, Credit Suisse Energy Summit, Canadian Oil Sands Summit and the Cowen Group 34th Annual Aerospace/Defense Conference.

Conference of Note

Cowen Group 34th Annual Aerospace/Defense Conference as news on BA issues could be discussed.

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs MMC
Morgan Stanley
Deutsche Bank
Merrill Lynch CHRW
Wachovia/Wells Fargo
Credit Suisse
Banc of America
Raymond James MHP
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