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Monthly Archives: September 2011

Black Toast

Technicals are hard to call during extremely volatile markets, but it would appear as of this morning that the S&P is toast.

IMO Were looking at a test of 1045 area with a possible breach of 1000.

 So don’t be afraid to keep your powder dry a little while longer.

Given all the news one would think gold would be up. This is the only curious trade i can not figure out momentarily, but longer term this should be a buying opportunity.

Here was a piece FYI on $1700 gold

At any rate, the t.v. keeps talking about hope. I say fuck hope given a possible banking contagion.

The markets still have some resilience despite all the negativity. Look for the 1140 level on today’s close. Below that we have 1120, 1100, 1045, 990. Thankfully the S&P has bounced off the 50 day of 1132ish. Let’s hope for a hold of this area, but I will not bet on it.

Oversold territory has only been a bounce effect lately. I suppose it is important to note that we are very oversold.

The 1050 area tested last June feels like the magnet area to where we might get pulled down too.

Good luck to all.

[youtube:http://www.youtube.com/watch?v=UxrljsaGrqc 450 300]




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G20 Worries Over Contagion

Europe must have taken stupid pills as they have still not made any decisive actions to get ahead of the curb. G20 nations freak out over contagion writing a letter pleading for some sense of leadership.

Full article

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Your Tax Dollars at Work

Had enough of being the police. Take care of home and citizens first before looking beyond our borders. Please no comments on how we need to be the police of the world. Our foreign policy helped greatly to force us into that position.

Full article

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Upgrades and Downgrades This Morning


NFLX – Netflix upgraded to Outperform at Wedbush

LULU – lululemon athletica initiated with a Buy at Argus

TEVA – Teva Pharma resumed with a Buy at Goldman

GIS – General Mills target raised to $44 from $40 at Stifel Nicolaus

BMY – Bristol-Myers upgraded to Buy from Neutral at Goldman

STJ – St. Jude Medical initiated with a Buy at Kaufman Bros

GSK – GlaxoSmithKline upgraded to Neutral from Sell at Goldman

RHT – Red Hat target raised to $50 from $48 at RBC Capital Mkts

SYK – Stryker upgraded to Buy from Hold at Citigroup

HNZ – HJ Heinz initiated with a Buy at Jefferies

INTC – Intel upgraded to Buy from Neutral at BofA/Merrill

BRCM – Broadcom upgraded to Market Perform from Underperform at JMP Securities

LVS – Las Vegas Sands tgt raised to $59 from $52 at Goldman


YOKU – Youku.com removed from Conviction Buy List at Goldman

JNJ – Johnson & Johnson downgraded to Neutral from Buy at Goldman

PG – Procter & Gamble downgraded to Neutral from Buy at SunTrust

UA – Under Armour downgraded to Hold at Needham

MLNX – Mellanox Tech reinstated with a Neutral at Credit Suisse

CVS – CVS Caremark initiated with a Hold at Deutsche Bank

BMO – Bank of Montreal downgraded to Underperform from Sector Perform at Scotia

MDU – MDU Resources initiated with a Hold at Capstone

CPRT – Copart target lowered to $42 from $45 at RBC Capital Mkts

WPI – Watson Pharm resumed with Conviction Buy at Goldman

URBN – Urban Outfitters downgraded to Underperform at Wedbush

WCG – WellCare Group target lowered to $55 from $57 at Stifel Nicolaus

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Gapping Up and Down This Morning

Gapping up

YHOO +1.4%, MLHR +11.5%, INTU +1.3%, HNZ +0.9%,  NFLX +0.6%, TNH +4.3%, GR +7.8%,  MOS +2.2%,

RHT +6.5%, MOS +2.2%, BBBY +1.7%,

Gapping down

do you even have to look at this category given the futures and world market performance ?

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