iBankCoin
Joined Dec 4, 2012
296 Blog Posts

Morning Briefing Lots On The Plate

In After Hours Trading

IPOs on deck 8 IPOs this week. Secondaries On Deck NRZ.

In After Hours Trading: AEIS +.25 CR +.04 GGG+.14 PKG +.07 PFG +.12 RGA +.39 SANM +.08 WERN +.04.

Lower Guidance: PKG.

Mixed Guidance: .

Positive Guidance: AEIS SANM.

What’s Happening This Morning

U.S. futures: S&P -3, Dow Jones -27, NDX -8.25 and Russell 2000 -1.70. Asia lower and Europe mixed.

Copper, silver and gold higher. WTI Crude and Brent Oil Futures mixed. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield at 2.47% yield, one month change +2 and +55 one year change. Prices as of 7:45 a.m. EDT.

Top Sectors None.

Weak Sectors All.

One month winners All ex Conglomerates.

Three Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.

Six Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.

One Year Winners Energy, Materials, Industrial Goods and Utilities.

Year To Date All.

Earnings Expected

Earnings due after the close (by avg. trade volume): AAPL CB APC AFL EA ILMN EQR BXP CE CHRW AMD FBHS among the leaders.

Due Wednesday morning (by avg. trade volume descending): MO D ADP ANTM BAX MPC PPL IR WEC MPLX AVY USG among the leaders.

Rags & Mags: Inside Wall Street

Bloomberg: The Bank of Japan left rates unchanged and left inflation forecast intact. Inflation popped in Europe to 1.8% increase. Deutsche Bank (DB) fined $629M in fines. Warren Buffet bought $12 billion of stock since the election.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): AET +.19 ABC +.13 AXE +.15 DHR +.02 LLY -.03 HOG -.04 HUBB +.13 MAN +.16 PCAR -.05 SNG +.29 DF +.03 UAA -.02 VLO +.03 WDR +.04 ZBH +.03.

Missing: .

Lower Guidance: AET UAA.

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 887 stocks rise and 2082 fall on the NYSE. NASDAQ saw 682 rise and 2220 fall.

The SP 500 is back above its 50 day exponential moving average and above its 200 day exponential moving average. The Russell 2000 is above its 50 day moving exponential average and its 200 day exponential moving average.

The 10 day spread moving average of breadth is back to invested as of November 15th. The Madison Market Timing Indicator is now invested since November 18th.

YTD 4066 stocks rose for 2016 and 2259 fell. Updated 12/30/16 close.

Economics

The S&P/Case Schiller Home Price Index for November is due out at 9:00 a.m. EST and is expected to drop to 5.0% from 5.1%.

January Chicago PMI is due out at 9:45 a.m. EST and is expected to rise to 55.5 million from 54.6.

January Consumer Confidence is due out at 10:00 a.m. EST and is expected to fall to 113 from 113.70.

Politico

President Trump will meet with Pharmaceutical leaders today. Backlash related to immigration continues.

The European Central Bank (ECB) and European Commission will hold a joint meeting in Frankfurt.

The Federal Reserve Open Market Committee (FOMC) begins its two day meeting that concludes on Wednesday with an interest rate announcement.

The Bank of Japan (BOJ) left rates unchanged.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, NAVB SM. Noble Capital Small Cap & Emerging Growth Investor Conference.

Conference of Note

DistribuTECH 2017

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs
Morgan Stanley
Deutsche Bank
Citigroup SHOO FIT
Merrill Lynch TEVA NNNCBOE
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS
CLSA BWLD
Sanford Bernstein
Jefferies
Nomura
Needham
Raymond James
Buckingham
Friedman Billings
Guggenheim
Stifel QTS
Robert W. Baird

Comments »

The Week Ahead Has Tons Of Data Points And Central Bank Action

1. Geopolitical Events. On Tuesday the FOMC begins a two day meeting. Also on Tuesday a joint ECB and European Commission meeting will meet and a Bank of Japan Rate decision is due. On Thursday the BOE will release its latest interest rate decision. On Friday EU Heads of State will meet. Federal Reserve Chicago President Charles Evans will speak on Friday to finish out the week.

2. Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications, jobless claims and personal income, Chicago PMI, consumer confidence, construction spending, ISM Manufacturing PMI, Q4 Productivity, nonfarm payrolls with the unemployment rate and factory orders.

3. Earnings Releases. Notable releases include EPD GGP AAPL XOM FB MO AMZN V HMC PSX.

Monday, January 30:

December Personal Income is due out at 8:30 a.m. EST and is expected to rise to 0.4% from 0%.

Markets are closed in China for the Lunar New Year. South Korea, Taiwan and several other Asian countries are closed for trading as well. China is closed until Friday.

Tuesday, January 31:

The Bank of Japan rate decision is due.

The S&P/Case Schiller Home Price Index for November is due out at 9:00 a.m. EST and is expected to drop to 5.0% from 5.1%.

January Chicago PMI is due out at 9:45 a.m. EST and is expected to rise to 55.5 million from 54.6.

January Consumer Confidence is due out at 10:00 a.m. EST and is expected to fall to 113 from 113.70.

The European Central Bank (ECB) and European Commission will hold a joint meeting in Frankfurt.

The Federal Reserve Open Market Committee (FOMC) begins its two day meeting that concludes on Wednesday with an interest rate announcement.

Wednesday, February 1:

ADP Payroll for January is due out at 8:15 a.m. EST and is expected to rise to 165,000 from 153,000.

December Construction Spending is due out at 10:00 a.m. EST and is expected to fall to 0.30% from 0.91%.

January ISM Manufacturing PMI is due out at 10:00 a.m. EST and is expected to rise to 55 from 54.70.

The first Federal Reserve Open Market Committee (FOMC) interest rate decision of 2017 is due out at 2:00 p.m. EST.

Monthly Truck and Car Sales are due out at 2:00 p.m. EST. The only short squeeze of note in this space is Tesla Motors (TSLA).

Thursday, February 2:

Challenger, Gray & Christmas Monthly Job Cuts are due out at 7:30 a.m. EST; last month they rose 42.2%.

The Bank of England (BOE) is out with its latest interest rate decision before markets open.

Q4 Productivity is due out at 8:30 a.m. EST and is expected to fall to 0.9% from 3.1%

Friday, February 3:

January Nonfarm Payrolls are due out at 8:30 a.m. EST and are expected to improve to 175,000 from 156,000. The unemployment rate is expected to remain at 4.7%.

December Factory Orders are due out at 10:00 a.m. EST and are expected to rise to 1.4% from -2.4%.

European Union Heads of State meet.

Comments »

Morning Briefing Earnings Fast & Furious Now $SPY

In After Hours Trading

IPOs on deck AnaptsyBio (ANAB) and ObsEva SA (OBSV). Secondaries On Deck AGI ENTL KINS KRNT SVA USFD.

In After Hours Trading: BCG +.07 CTXS +.12 FFIV +.05 LRCX +.05 LVS -.04 MAT -.19 MCK -.04 RJF +.06 URI +.37 VRTX +.06 WDC +.18 XLNX +.03.

Lower Guidance: .

Mixed Guidance: .

Positive Guidance: .

What’s Happening This Morning

U.S. futures: S&P +0.25, Dow Jones +18, NDX +9.25 and Russell 2000 +0.20. Asia higher and Europe higher.

Copper, silver and gold lower. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield at 2.54% yield, one month change +0 and +55 one year change. Prices as of 7:45 a.m. EDT.

5

Top Sectors All except for Conglomerates.

Weak Sectors Conglomerates.

One month winners All ex COnglomerates.

Three Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.

Six Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.

One Year Winners Energy, Materials, Industrial Goods and Utilities.

Year To Date All.

Earnings Expected

Earnings due after the close (by avg. trade volume): GOOGL MSFT INTC SBIX VMW BCR KLAC MXIM EMN JNPR ETFC among others.

Due Friday morning (by avg. trade volume descending): CVX ABBV HOM CL NEE GD APD AAL BEN among the leaders.

Rags & Mags: Inside Wall Street

Bloomberg: U.K. grew om Q4 at 0.6% better than expected due to Brexit. Bond yields are back above 2.50%. Does Dow 20,000 mean time to sell?

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): BIIB +.08 CAT +.16 CMCSA +.02 DOW +.11 ERIC -.26 FCAI -.05 F -.02 LLL+.29 MJN -.03 NOC +.47 OSK +.14 PHM +.08 LUV +.06 SWK +.03TROW +.17 WHR -.07.

Missing: .

Lower Guidance: .

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1909 stocks rise and 1045 fall on the NYSE. NASDAQ saw 1988 rise and 840 fall.

The SP 500 is back above its 50 day exponential moving average and above its 200 day exponential moving average. The Russell 2000 is above its 50 day moving exponential average and its 200 day exponential moving average.

The 10 day spread moving average of breadth is back to invested as of November 15th. The Madison Market Timing Indicator is now invested since November 18th.

YTD 4066 stocks rose for 2016 and 2259 fell. Updated 12/30/16 close.

Economics

Weekly Jobless Claims due out at 8:30 a.m. EST.

December Leading Indicators are due out at 10:00 a.m. EST and are expected to rise to 0.5% from 0%.

December New Home Sales are due out at 10:00 a.m. EST and are expected to fall to 588,000 from 592,000.

Weekly Natural Gas Inventories due out at 10:30 a.m. EST.

Politico

President Trump will travel to Philadelphia to meet with Republicans in an off site meeting.

Eurogroup meets in Brussels.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, URI . CIBC Whistler Institutional Investor Conference.

Conference of Note

M & A News

Johnsonm & Johnson (JNJ) to buy Swiss held Actelion (ALIOY) for $280 per share.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs
Morgan Stanley
Deutsche Bank
Citigroup IP LNC CNDT RGA UNM VOYA AMP
Merrill Lynch SGMS IGT
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS
Key Banc
Sanford Bernstein
Jefferies
Nomura PKX
Needham
Raymond James
Buckingham
Friedman Billings
Guggenheim
Stifel MTOR

Comments »

Morning Briefing Dow 20,000 Today? Bears Back To Hibernation $SPY $DIA

In After Hours Trading

IPOs on deck none of note. Secondaries On Deck FWONK MIK MRDN NEWT PTEN SMBK SND.

In After Hours Trading: AA -.10 CA +.02 CNI +.02 COF -.14 CREE +.07 ISRG +.10 LOGI +.12 STX +.24 TXN +.09 UMBF +.06.

Lower Guidance: CA.

Mixed Guidance: CREE TXN TSS.

Positive Guidance: .

What’s Happening This Morning

U.S. futures: S&P +8.25, Dow Jones +80, NDX +24.75 and Russell 2000 +7.20. Asia higher and Europe higher.

Copper, silver and gold lower. WTI Crude and Brent Oil Futures lower. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield at 2.43% yield, one month change +3 and +38 one year change. Prices as of 7:45 a.m. EDT.

Top Sectors All except Healthcare.

Weak Sectors Healthcare.

One month winners All ex Conglomerates.

Three Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.

Six Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.

One Year Winners Energy, Materials, Industrial Goods and Utilities.

Year To Date All.

Earnings Expected

Earnings due after the close (by avg. trade volume): T QCOM LVS MCK EBAY CCI WDC VRTX LRCX XLNX CTXS NOW SLG RJF among others.

Due Thursday morning (by avg. trade volume descending): CMCSA CELG BMY DOW BIIB CAT F RTN NOC BX PX among the leaders.

Rags & Mags: Inside Wall Street

Bloomberg: German business sentiment fell which was unexpected. Overseas markets higher despite the weakness. Brexit gets more complicated. Yen can rally to 100 as Trump Rally ends.

NY Times: Mexico’s weapons to fight reversal of NAFTA. Trump injects risk to China relationship. Netflix (NFLX) and CBS try to shake up reality TV. India’s cash shortage begins to hit as poor going hungry and unemployment rising.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): BA +.14 GWW +.09 HES +.07 ITW +.02 NSC +.06 ROK +.30 STT +.16 TXT -.07 .

Missing: .

Lower Guidance: JNJ DD.

Current Morning missing: .

Mixed Guidance: LMT PII.

Positive Guidance: SAP IIVI BABA.

Data Points

Yesterday saw 2190 stocks rise and 768 fall on the NYSE. NASDAQ saw 2050 rise and 804 fall.

The SP 500 is back above its 50 day exponential moving average and above its 200 day exponential moving average. The Russell 2000 is above its 50 day moving exponential average and its 200 day exponential moving average.

The 10 day spread moving average of breadth is back to invested as of November 15th. The Madison Market Timing Indicator is now invested since November 18th.

YTD 4066 stocks rose for 2016 and 2259 fell. Updated 12/30/16 close.

Economics

Weekly Crude Inventories due out at 10:30 a.m. EST.

Overnight China Industrial Profits due out at 8:30 p.m. EST.

Politico

President Trump deals with immigration today. See Articles That Matter.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, MENT BP BOBE PAA. CIBC Whistler Institutional Investor Conference.

Conference of Note

Society of Petroleum Engineers Hydraulic Fracturing Technology Conference.

M & A News

Cisco (CSCO) to buy privately held AppDynamics for $3.7 billion in cash.

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan JBLU
Goldman Sachs LSGOF HCP
Morgan Stanley
Deutsche Bank
Citigroup AA PSXP CONE
Merrill Lynch
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS AJMPF
Key Banc
Sanford Bernstein
Jefferies
Nomura
Needham
Raymond James SFNC
Buckingham
Friedman Billings
Guggenheim GOGO ENT
Stifel STAY
Robert W. Baird
Cowen
Sun Trust RH
MKM
Sandler O’Neil PNFP

Comments »

Morning Briefing Trumps Meets With Auto Execs $F $GM $FCAU

In After Hours Trading

IPOs on deck none of note. Secondaries On Deck none of note.

In After Hours Trading: JJSF +.09 MRCY +.05 RMD +.03 YHOO +.04 ZION +.08.

Lower Guidance: .

Mixed Guidance: MRCY .

Positive Guidance: IBM AXP.

What’s Happening This Morning

U.S. futures: S&P -0.50, Dow Jones +4, NDX +3.50 and Russell 2000 +0.10. Asia higher ex Japan and Europe higher.

Copper, silver and gold mixed. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield at 2.43% yield, one month change +3 and +38 one year change. Prices as of 7:45 a.m. EDT.

5

Top Sectors Technology and Consumer Goods.

Weak Sectors Industrial Goods. Healthcare and Utilities.

One month winners All ex COnglomerates.

Three Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.

Six Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.

One Year Winners Energy, Materials, Industrial Goods and Utilities.

Year To Date All.

Earnings Expected

Earnings due after the close (by avg. trade volume): TXN CNI SYK COF DFS ISRG CA STX TSS STLD AA LOGI CREE.

Due Wednesday morning (by avg. trade volume descending): NVS BA UTX ABT ITW NSC STT PGR APH FCX ROK HES GWW TXT among the leaders.

Rags & Mags: Inside Wall Street

Bloomberg: Futures Treasury Secretary Steve Mnuchin warned of too strong a dollar and the pullback from TPP adds to recent weakness. Talk begins about the balance sheet of the Federal Reserve. Hedge fund assets passed $3 trillion dollars. Bitcoin trading falls in China after fees raised.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): BABA +.17 ATI +.08 GLW +.06 DHI +.07 DD +.09 FITB +.04 IIVI +.23 JNJ +.02 KMB +.04 LMT +.21 PHG +.05 PII -.20 SAP +.11 TRV +.39 VZ -.03 WAR +.08.

Missing: .

Lower Guidance: JNJ DD.

Current Morning missing: .

Mixed Guidance: LMT PII.

Positive Guidance: SAP IIVI BABA.

Data Points

Yesterday saw 1591 stocks rise and 1328 fall on the NYSE. NASDAQ saw 1173 rise and 1668 fall.

The SP 500 is back above its 50 day exponential moving average and above its 200 day exponential moving average. The Russell 2000 is above its 50 day moving exponential average and its 200 day exponential moving average.

The 10 day spread moving average of breadth is back to invested as of November 15th. The Madison Market Timing Indicator is now invested since November 18th.

YTD 4066 stocks rose for 2016 and 2259 fell. Updated 12/30/16 close.

Economics

December Existing Home Sales are due out at 10:00 a.m. EST and are expected to fall to 5.50 million from 5.61 million.

Politico

President Trump meets with the leaders of Ford (F), General Motors (GM) and Fiat Chrysler (FCAU) this morning for breakfast.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, SFNC.

Conference of Note

Society of Petroleum Engineers Hydraulic Fracturing Technology Conference.

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs FTI
Morgan Stanley
Deutsche Bank
Citigroup OMAB
Merrill Lynch TV DATA ALSN
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS
Key Banc
Sanford Bernstein
Jefferies
Nomura
Needham
Raymond James KBH
Buckingham
Friedman Billings
Guggenheim
Stifel HRC

Comments »

Ramp Capital Is Back In Business $SPY $IWM $DIA

I was updating a spreadsheet that tracks intraday action. One of the items is tracking the hour by hour moves on the Dow, S&P 500 and Russell.  Something sticks out like Donald Trump at a Hillary Clinton Rally. What is it?

Ramp Capital is back in business.

Guess who just got back today?
Them wild-eyed boys that had been away
Haven’t changed, haven’t much to say
But man, I still think them cats are great

They were asking if you were around
How you was, where you could be found
I told them you were living downtown
Driving all the old men crazy

The boys are back in town

The best trading hour of the day is 3:00-4:00 and last week traded up every day on all three indexes, 100% of the time. Year to date the percentage is 72%. The next best hour is 10:00-11:00 at 51%.

Rally today for a fifth straight day from 3:00-4:00?

evl1

Comments »

Back Up The Truck On Qualcomm ($QCOM)

Last week the FTC came after Qualcomm (QCOM) right before President Obama departed. Coincidence? No way.

Then today Apple (AAPL) files suit against Qualcomm. I will take the opportunity to recommend Qualcomm (QCOM) here. This is positioning by Tim Cook for a settlement. Tim Cook is a “nasty man”.

To protect the position, we will buy the February $55 Put which costs $2.27 or $227. If you buy less than 100 shares, then still buy the put. If you own more than 100 shares, buy one put for each 100 shares you purchase.

Qualcomm’s  reaction is swift and fierce. They think this is bogus. This is the second stock this year I have recommended after last week’s short on Spirit Airlines (SAVE). We will start updating our recommendation each Thursday in a portfolio review.

Unlike others across the finance blogoshpere, once I recommend a name I stick with the recommendation.

Comments »

The Week Ahead Sees Executive Order Actions

1. Geopolitical Events. On Monday President Trump will begin his first work day in the Oval Office. On Thursday the Eurogroup will meet in Brussels.

2. Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications, jobless claims and existing home sales, leading indicators, new home sales, durable goods, Q4 GDP and Michigan Sentiment.

3. Earnings Releases. Notable releases include MCD HAL JNJ BABA T BA GOOGL MSFT CVX ABBV. See the Earnings section.

4. Company, Analyst and Regulatory Meetings. Type 1s: none of note. Type 4s: none of note.

Monday, January 23:

The 45th President of the United States Donald J. Trump will start his first full working day in the oval office.

Tuesday, January 24:

December Existing Home Sales are due out at 10:00 a.m. EST and are expected to fall to 5.50 million from 5.61 million.

Wednesday, January 25:

The latest short interest from the NYSE and NASDAQ through the 15th of January on a settlement basis is due out after the close.

Thursday, January 26:

December Leading Indicators are due out at 10:00 a.m. EST and are expected to rise to 0.5% from 0%.

December New Home Sales are due out at 10:00 a.m. EST and are expected to fall to 588,000 from 592,000.

The Eurogroup meets in Brussels.

Friday, January 27:

December Durable Goods are due out at 8:30 a.m. EST and are expected to rise to 2.75% from -4.5%.

Q4 GDP is due out at 8:30 a.m. EST and is expected to fall to 2.2% from 3.5%.

January Michigan Sentiment is due out at 10:00 a.m. EST and is expected to fall to 98 from 98.l.

Markets are closed in China for the start of the Lunar New Year. South Korea and Taiwan are closed as well.

Comments »

Morning Briefing: ECB Press Conference Ahead & Goldman ($GS) Goes Crazy With Recos This Morning

In After Hours Trading

IPOs on deck none of note. Secondaries On Deck APFH APO HRTX TDOC VNOM ZYNE.

In After Hours Trading: CLC +.04 KMI -.10 NFLX +.02 PLXS +.05 WTFC +.04.

Lower Guidance: .

Mixed Guidance: PLXS.

Positive Guidance: NFLX.

What’s Happening This Morning

U.S. futures: S&P -2.00, Dow Jones -17, NDX -3.75 and Russell 2000 -2.20. Asia mixed and Europe slightly lower.

Copper, silver and gold lower. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury yield at 2.44% yield, one month change -10 and +39 one year change. Prices as of 7:55 a.m. EDT.

Top Sectors Utilities and Consumer Goods.

Weak Sectors Conglomerates led the way down with Industrials and Financials.

One month winners All.

Three Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.

Six Month Winners Conglomerates, Industrial Goods, Financials, Energy and Materials.

One Year Winners Energy, Materials, Industrial Goods and Utilities.

Year To Date All.

Earnings Expected

Earnings due after the close (by avg. trade volume): AXP IBM SWKS.

Due Friday morning (by avg. trade volume descending): GE KSU PG RF COL SLB STI.

Rags & Mags: Inside Wall Street

Bloomberg: Federal Reserve Chairman Yellen sees continued improvement to the economy. Bond Guru says to go long, he called the last bear market 40 years ago. OPEC sees production cut sticking so far. 2016 was the hottest year on record.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): CHKP +.21 KEY +.02 MTG +.06 TAL +.04 WNS +.07.

Missing: .

Lower Guidance: WNS.

Current Morning missing: .

Mixed Guidance: .

Positive Guidance: .

Data Points

Yesterday saw 1569 stocks rise and 1354 fall on the NYSE. NASDAQ saw 1603 rise and 1247 fall.

The SP 500 is back above its 50 day exponential moving average and above its 200 day exponential moving average. The Russell 2000 is above its 50 day moving exponential average and its 200 day exponential moving average.

The 10 day spread moving average of breadth is back to invested as of November 15th. The Madison Market Timing Indicator is now invested since November 18th.

YTD 4066 stocks rose for 2016 and 2259 fell. Updated 12/30/16 close.

Economics

December Housing Starts are due out at 8:30 a.m. EST and are expected to rise to 1,180,000 from 1,090,000.

Tonight sees China GDP, Industrial Production and Retail Sales. The triple threat. Due out at 9:00 p.m. EST.

Politico

The European Central Bank (ECB) is out with its latest interest rate announcement at 7:45 a.m. EST and no change and will hold a press conference with ECB Head Mario Draghi at 8:30 a.m. EST.

Federal Reserve Chairman Janet Yellen speaks from San Francisco again this time at the Stanford Institute for Economic Policy Research at 8:00 p.m. EST.

Conference & Analyst Meetings

Meetings, Conference Calls or Announcements of note, SKLN PKY LQ PAY MNK.

Conference of Note

Canadian Power Finance Conference

M & A News

Key Upgrades and Downgrades

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs MBLY PNRA HGV TGT BLMN GNC RCL HST
Morgan Stanley
Deutsche Bank
Citigroup BAM AKS VSI

Comments »

Death Grip Applied to Spirit Airlines (SAVE), As Such Short It

American Airlines (AAL) is done with Spirit being a competitor. They just announced Basic Economy which means you get the same rights as a Spirit traveler.

They are as follows:

  • One item under seat
  • Seats assigned at check in
  • $$$ for a specific seat
  • No upgrades
  • No changes or refunds
  • Board last

Spirit Airlines (SAVE) is rolling over technically and no one is short. Longs start to sell and there is no covering create pain for the longs.

aal be

As such, this is my first recommendation of the year and first in quite a while on the website. Short Spirit Airlines (SAVE) with a target of $40 and a stop of $60.

Sometimes short ideas are very simple and do not require a ton of analysis. This is one of those. Hasta La Vista Spirit!!!

Comments »