Traders Expect a Strong End to 2011 As Market Gyrations Go According to the Book
Analyst: Rally is Signaling a Double Dip AKA Repeat of 2008 (video)
What Will Move Markets This Coming Week?
Barton Biggs Says the China Bears are WRONG
U.S. Equities Digest Around the Unch Line
Today’s Heat Map is Cold and Flat
Warren Buffet’s Favorite Indicator Is Still Moving North
10 Indicators Suggesting No Double Dip Coming
Does the VIX Decline Offer Opportunity in Equities ?
Income Grew Marginally While Weak Consumers Keep Spending
While consumers do keep spending it it no where near levels that suggest a healthy economy.
Comments »Upgrades and Downgrades This Morning
Upgrades
IT – Gartner initiated with a Outperform at Northland Securities
OXY – Occidental Petro upgraded to Outperform from Neutral at Credit Suisse
TWC – Time Warner Cable downgraded to Market Perform from Outperform at Wells Fargo
FORR – Forrester Research initiated with a Market Perform at Northland Securities
PEP – PepsiCo initiated with a Buy at Deutsche Bank
KO – Coca-Cola initiated with a Buy at Deutsche Bank
HOS – Hornbeck Offshore upgraded to Buy from Neutral at Pritchard
WFM – Whole Foods upgraded to Neutral from Underperform at Credit Suisse
SPLS – Staples initiated with an Overweight at Morgan Stanley
BCS – Barclays PLC upgraded to Overweight from Neutral at JPMorgan
FOSL – Fossil initiated with a Buy at BofA/Merrill
AMD – Advanced Micro upgraded to Outperform from Market Perform at Wells Fargo
LLY – Eli Lilly upgraded to Outperform from Market Perform at First Global
SPB – Spectrum Brands initiated with an Outperform at Credit Suisse
S – Sprint Nextel upgraded to Outperform from Neutral at Macquarie
M – Macy’s initiated with a Buy at Nomura
PC – Panasonic upgraded to Outperform from Neutral at Credit Suisse
Downgrades
ED – Con Edison downgraded to Underperform from Sector Perform at RBC Capital
HS – Healthspring downgraded to Neutral from Positive at Susquehanna
NFLX – Netflix target lowered to $100 at Oppenheimer
DPS – Dr Pepper Snapple initiated with a Hold at Deutsche Bank
VMED – Virgin Media removed from Pan Europe Conviction Buy List at Goldman
HPY – Heartland Payment Systems downgraded to Neutral from Buy at Suntrust
NUVA – NuVasive downgraded to Market Perform from Outperform at William Blair
NCI – Navigant Consult downgraded to Neutral from Buy at Suntrust
LAMR – Lamar Advertising downgraded to Neutral from Overweight at JP Morgan
BBD – Banco Bradesco ADS downgraded to Neutral from Overweight at HSBC
AIXG – Aixtron downgraded to Neutral from Buy at Sterne Agee
CMS – CMS Energy downgraded to Neutral from Buy at Suntrust
ARBA – Ariba downgraded to Hold from Buy at Craig Hallum
BMY – Bristol-Myers downgraded to Underperform from Outperform at Credit Suisse
ORI – Old Republic downgraded to Underperform from Mkt Perform at Raymond James
PCS – MetroPCS downgraded to Underperform from Buy at BofA/Merrill
SPG – Simon Properties downgraded to Neutral from Buy at UBS
MDR – McDermott downgraded to Market Perform from Outperform at William Blair
SCHN – Schnitzer Steel downgraded to Neutral from Buy at BofA/Merrill
VLY – Valley National downgraded to Hold at Stifel Nicolaus
IRBT – IRobot downgraded to Neutral from Overweight at JP Morgan
KIM – Kimco Realty downgraded to Outperform from Strong Buy at Raymond James
NATL – National Interstate downgraded to Underperform from Mkt Perform at Raymond James
PLL – Pall downgraded to Neutral from Overweight at JP Morgan
CWEI – Clayton Williams downgraded to Mkt Perform from Outperform at Raymond James
FCBC – First Comm Banc downgraded to Hold at Stifel Nicolaus
CVE – Cenovus Energy downgraded to Neutral from Buy at UBS
IRM – Iron Mountain downgraded to Hold at Stifel Nicolaus
Comments »Gapping up and Down This Morning
Gaping up
QTM +4.3%, SOHU +4.2%, SLV +4.2%, SINA +4.1%, YOKU +3.9%, QIHU +3.7%, LVS +3.5%, DANG +2.8%,
WY +2.6%, EXEL +2.4%, ELGX +2.3%, VRSN +2.2%, CERN +1.9%, BAC +1.3%, X +1.3%, VRTX +1.3%,
ALGN +13.4%, CLF +8.4%, HLIT +7.5%, BIDU +6.7%, TORM +6%, AMD +4.7%, STMP +4.5%, DECK +4.4%,
Gapping down
TSYS -5.6%, INPH -5.4%, EXPE -5.1%, AMKR -4.7%, ARBA -4.4%, ERTS -4.1%, VMED -3.7%, SONS -3.4%,
NANO -14.9%, CSTR -11.2%, QLIK -9.9%, MF -9.1%, IPCM -8.7%, LEG -5.8%, DRIV -5.7%, PWER -5.7%,
ING -3.3%, VAR -2.6%, INSP -2.4%, MT -2.1%, TOT -2%, NTGR -1.9%, YHOO -1.6%, BP -1.5%, UBS -1.4%,
BHP -1.3%, RIO -0.9%,
Comments »In Play and on the Wires
Germany’s Federal Constitutional Court Halts Parliamentary ESFS Decision
Probably why European markets pared gains overnight. The decision is temporary until lawsuits by lawmakers are heard.
Comments »Emerging Markets See a Second Week of Money In-Flows
Asia Holds Gains Overnight While Europe & U.S. Futures Fall Back
Correlation Rules
The Nikkei and the rest of Asia have decided to correlate with retard to the upside moves controlled by bots, short coverings, and desperately under invested fund managers….
[youtube://http://www.youtube.com/watch?v=-XyTpENuoCI 450 300] Comments »S&P 500 Best Months Ever
The S&P 500 is now up more than 14% this month, putting the index on pace for its best month since October 1974 and its ninth best month ever. So for a lot of people this is the best month for the market in their entire lives. In order to exceed October 1974’s return of 16.30%, the S&P 500 would have to close out the month of October above 1,316, or 2.1% above current levels.
Read the rest here at Bespoke (and see the graph).
Comments »FLASH: Bears Get in the Way of Bulls Break Dancing
DOW up silly
S&P up really silly
NASDAQ up stupid silly
Dollar down, but climbs into the close
Gold up $20.60
WTI up $3.47
[youtube://http://www.youtube.com/watch?v=UMHmBTNiC-A&feature=related 450 300]Comments »