Friday, February 24, 2012

3 NASDAQ 100 stocks on the move up

This morning I used Barchart to screen the NASDAQ 100 stocks to find the 3 with the most consistent upward price momentum and found Micorsoft (MSFT). Comcast (CMCSA) and Alexion Pharmaceuticals (ALXN)

Microsoft (MSFT)


Barchart technical indicators:
  • 96% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 14 new highs and up 5.52% in the last month
  • Relative Strength Index 70.63%
  • Barchart computes a technical support level at 30.73
  • Recently traded at 31.37 with a 50 day moving average of 28.44
Comcast (CMCSA)


Barchart technical indicators:
  • 100% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 13 new highs and up 14.963% in the last month
  • Relative Strength Index 84.28%
  • Barchart computes a technical support level at 28.96
  • Recently traded at 29.81 with a 50 day moving average of 25.73
Alexion Pharmaceuticals (ALXN)


Barchart technical indicators:
  • 96% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 13 new highs and up 15.58% in the last month
  • Relative Strength Index 70.18%
  • Barchart computes a technical support level at 82.64
  • Recently traded at 85.91 with a 50 day moving average of 74.68




Barchart Morning Call 2/24

Barchart Morning Call
Overnight Developments
  • Global stocks this morning are higher with the Euro Stoxx 50 up +0.09% and Mar S&Ps up +3.70 points. Treasuries are weaker and the dollar index slid to a 2-week low as global economic optimism propels stock prices higher. The euro climbed to a 2-1/2 month high against the dollar on the prospects that G-20 officials meeting this weekend in Mexico City may discuss committing further resources to Europe's debt crisis. French consumer confidence unexpectedly rose for a second month in Feb, which added to today's bullish factors for stocks, after the Feb French consumer confidence indicator rose +1 to 82, better than expectations of unchanged at 81 and its best level in 4 months. Comments from St. Louis Fed President Bullard also gave stocks a lift and weakened Treasuries when he said he sees "possible 3% growth" in 2012 and that a drop in the unemployment rate to 7.8% is possible by year-end. Liquidity concerns continue to ease in Europe as the Euribor-OIS spread, a measure of European banks' reluctance to lend to one another, fell to 66 bp between the euro interbank offered rate and overnight indexed swaps, a 5-3/4 month low.
  • Asian stocks today closed mostly higher with Japan up +0.54%, China +1.60%, Australia +0.48%, South Korea +0.61%, India -0.86%. Asian stocks rose on optimism Europe will contain its debt crisis; increased speculation China will ease monetary policy and signs that the U.S. economy is improving. Japan's Nikkei 2225 Stock Average climbed to a 6-1/2 month high led by strength in exporters, as the yen weakened to a 7-1/2 month low against the dollar and boosted exporters' earnings prospects. South Korean stocks closed higher after Feb South Korean consumer confidence rose +2 to 100, a 3-month high, while China's Shanghai Stock Index posted a 3-1/4 month high on speculation local governments are relaxing restrictions on the property market and an improving economy will spur Chinese exports.
Overnight U.S. Stock News
  • March S&Ps this morning are trading up +3.70 points. The US stock market Thursday erased early losses and settled higher after weekly U.S. jobless claims unexpectedly held at a 3-3/4 year low and FHFA Dec U.S. home prices rose more than expected: Dow Jones +0.36%, S&P 500 +0.43%, Nasdaq Composite +0.81%. Bullish factors Thursday included (1) weekly initial U.S. unemployment claims that unexpectedly held steady at a 3-3/4 year low of 351,000, better than expectations of a +7,000 increase to 355,000, (2) a rally in home builders after the larger-than-expected increase in the Dec FHFA house price purchase only index (+0.7% m/m versus expectations of +0.1% m/m), and (3) optimism that Europe may be able to withstand the negative effects of the region's debt crisis after the Fed German IFO business climate rose to a 7-month high and ECB President Draghi said "positive" signs have increased within the last 2 weeks in the Euro-Zone.
  • Bearish factors included (1) carry-over weakness from a slide in European stocks after the European Commission cut its 2012 Euro-Zone GDP forecast to contraction of -0.3% from a Nov forecast of +0.5% growth and (2) comments from Dallas Fed President Fisher who said additional asset-purchases from the Fed are unnecessary and are "wishful thinking" by Wall Street.
  • American International Group (AIG) jumped 8.1% in European trading after the company said it posted net income in Q4 of $19.8 billion and that it will generate emough profit to use tax assets, tied to prior losses, that can limit future payments to the government.
Today's Market Focus
  • March 10-year T-notes this morning are down -1 tick. T-note prices Thursday weakened early after weekly jobless claims unexpectedly held steady but then erased their losses and settled higher after strong demand was seen for the Treasury's $29 billion 7-year T-note auction: TYH2 +5.0, FVH2 -0.5, EDM2 -1.5. Bullish factors Thursday included (1) economic growth concerns after the European Commission cut its 2012 Euro-Zone GDP forecast to contraction of -0.3% from a Nov forecast of +0.5% growth and (2) strong demand for the Treasury's $29 billion auction of 7-year T-notes that had a bid-to-cover ratio of 3.11, higher than the 12-auction average of 2.81. Bearish factors included (1) weekly initial U.S. unemployment claims that unexpectedly held steady at a 3-3/4 year low of 351,000, better than expectations of a +7,000 increase to 355,000, (2) the larger-than-expected increase in the Dec FHFA house price purchase only index (+0.7% m/m versus expectations of +0.1% m/m), (3) comments from Dallas Fed President Fisher who said additional asset purchases by the Fed are unnecessary and calls for such a move are ?wishful thinking? by Wall Street, and (4) carry-over weakness from a slide in German bunds after the Fed German IFO business climate index rose to a 7-month high.
  • The dollar index this morning is weaker and posted a 2-week low with the dollar/yen +0.56 yen and the euro/dollar +0.52 cents. The dollar index Thursday slipped to a 1-1/2 week low and settled lower after the Feb German IFO business confidence climbed to a 7-month high: Dollar Index -0.392, USDJPY -0.294, EURUSD +0.01229. Bearish factors included (1) strength in the euro which rose to a 2-1/4 month high against the dollar on optimism the European economy may withstand the region's debt crisis after the Feb German IFO business climate climbed to its best level in 7 months and (2) euro positive comments from ECB President Draghi who said "positive" signs have increased within the last 2 weeks in the Euro-Zone. Bullish factors included (1) the action by the EU to cut its 2012 Euro-Zone GDP forecast to contraction of -0.3% from a Nov forecast of +0.5% growth and (2) dollar positive comments from Dallas Fed President Fisher who said additional asset-purchases from the Fed are unnecessary and are "wishful thinking" by Wall Street.
  • Apr crude oil prices this morning are up +52 cents a barrel and Apr gasoline is +0.15 of a cent per gallon. Crude oil and gasoline prices Thursday settled higher as an increase in German business confidence and a weaker dollar offset a larger-than-expected increase in weekly DOE crude supplies along with comments from Saudi Arabia's deputy oil minister: CLJ12 +$1.55, RBJ +2.59. Apr crude posted a 9-1/2 month high and Apr gasoline rose to a 6-1/2 month high. Bullish factors included (1) the weaker dollar, (2) improvement in the U.S. labor market that may boost fuel demand after weekly initial U.S. unemployment claims unexpectedly held at a 3-3/4 year low, and (3) the unexpected decline in weekly DOE gasoline supplies (-649,000 bbl versus expectations of +250,000). Bearish factors included (1) the larger-than-expected increase in weekly DOE crude stockpiles (+1.63 million bbl to a 5-month high of 340.7 million bbl versus expectations of a +1.5 million bbl increase), (2) comments from Saudi Arabia?s deputy oil minister who said oil markets are currently ?well supplied,? and (3) the action by the European Commission to cut its 2012 Euro-Zone GDP forecast to contraction of -0.3% from a Nov forecast of +0.5% growth.
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): NEM-Newmont Mining (BEST earnings consensus $1.27), JCP-J.C. Penney (0.67), AWK-American Water Works (0.33), SUG-Southern Union (0.55), PNW-Pinnacle West Capital (0.04), IPG-Interpublic Group of Cos. (0.39), POM-Pepco Holdings (0.19), ANR-Alpha Natural Resources (0.26), WCRX-Warner Chilcott PLC (0.90), ENDP-Endo Pharmaceuticals Holdings (1.32), USM-United States Cellular (0.24), FSLR-First Solar (1.57), TDS-Telephone & Data Systems (0.25), CIM-Chimera Investment (0.11), Y-Alleghany (3.62).
Global Financial Calendar
Friday 2/24/12
United States
0955 ET Final Feb U.S. University of Michigan consumer confidence expected +0.5 to 73.0, previous -2.5 to 72.5.
1000 ET Jan new home sales expected +2.6% to 315,000, Dec -2.2% to 307,000.
1135 ET St. Louis Fed President James Bullard, New York Fed President William Dudley, Philadelphia Fed President Charles Plosser and San Francisco Fed President John Williams speak on a panel titled ?Housing, Monetary Policy and the Recovery? at the 2012 U.S. Monetary Policy Forum Initiative on Global Markets in New York.
Germany
0200 ET Revised Q4 German GDP, previous -0.2% q/q and +2.0% y/y.
France
0245 ET Feb French consumer confidence indicator expected unchanged at 81, Jan +1 to 81.
1200 ET Jan French jobseekers net change expected +32,500, Dec +29,700. Jan total jobseekers, Dec 2,874,500
United Kingdom
0430 ET Revised Q4 U.K. GDP, previous -0.2% q/q and +0.8% y/y.
0430 ET Q4 U.K. total business investment expected -0.7% q/q and +2.2% y/y, Q3 +0.3% q/q and +4.3% y/y.
Euro-Zone
0400 ET ECB Council member Ewald Nowotny speak at an event in Vienna.
n/a G-20 finance ministers and central bankers meet for a 2-day summit in Mexico City.

Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.

IBM - Barchart Chart of the Day

Barchart.coms Chart of the Day - IBM (IBM)
Related Stocks
IBM - International Business Machines Corp.
Sym Last Chg Pct
IBM 197.61 +3.74 +1.93%
The "Chart of the Day" is IBM (IBM), which showed up on Thursday's Barchart "All Time High" list. IBM on Thursday posted a new all-time high of $199.23 and closed up 1.93%. TrendSpotter has been Long since Jan 23 at $189.98. In recent news on the stock, Sterne Agee on Feb 6 initiated coverage on IBM with a Buy and a target of $230. IBM, with a market cap of $228 billion, sells a broad range of technology-based hardware, software and services.

ibm_700
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
  • TrendSpotter: Buy
  • Short-Term Indicators: 100% Buy
  • Medium-Term Indicators: 100% Buy
  • Long-Term Indicators: 100% Buy
  • Overall Average 100% Buy


Barchart links for further information:

Quotes and Charts
Quote
Detailed Quote
Chart

Technical Analysis
Technicals Summary
Trader's Cheat Sheet™

Barchart Opinions
Barchart Opinion
Barchart Snapshot
Trading Strategies

Company Info
Company Profile
Key Statistics
Ratios
Income Statement-Quarterly
Income Statement-Annual
Balance Sheet-Current
Balance Sheet-Annual


Chart of the Day Archive
View Past Chart of the Day Reports

Thursday, February 23, 2012

3 Sma;; Cap S&P 600 stocks on the move up

This morning I used Barchart to screen the Small Cap S&P 600 stocks to find the 3 with the best technical momentum and found Encore Wire (WIRE), Texas Roadhouse (TXRH) and Prospect Capital (PSEC)

Encore Wire (WIRE)


Barchart technical indicators:
  • 100% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 7 new highs and up 9.78% in the last month
  • Relative Strength Index 69.66
  • Barchart computes a technical support level at 28.57
  • Recently traded at 29.57 with a 50 day moving average of 26.93
Texas Roadhouse (TXRH)


Barchart technical indicators:
  • 100% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 8 new highs and up 11.18% in the last month
  • Relative Strength Index 77.23
  • Barchart computes a technical support level at 16.46
  • Recently traded at 17.40 with a 50 day moving average of 15.33
Prospect Capital (PSEC)


Barchart technical indicators:
  • 100% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 12 new highs and up 9.00% in the last month
  • Relative Strength Index 78.19%
  • Barchart computes a technical support level at 11.11
  • Recently traded at 11.39 with a 50 day moving average of 10.09




Barchart Morning Call 2/23

Barchart Morning Call
Overnight Developments
  • Global stocks this morning are mixed with the Euro Stoxx 50 down -0.03% and Mar S&Ps up +0.30 of a point. Stocks and commodities gained, Treasuries weakened and the dollar index slipped to a 1-1/2 week low after German business confidence climbed more than forecast, but stocks gave up their advance and turned lower when the European Commission predicted the Euro-Zone economy will contract this year. The euro rose to a 2-1/4 month high against the dollar after the Feb German IFO business climate rose +1.3 to 109.6, greater than expectations of +0.5 to 108.8 and its best level in 7 months. The euro fell back from its best level and stocks retreated after the European Commission cut its 2012 Euro-Zone GDP forecast to contraction of -0.3% from a Nov forecast of +0.5% growth, mainly due to projected contractions of -1.3% in Italy and -1.0% in Spain with EU Economic and Monetary Commissioner Rehn saying "The euro are has entered a mild recession." The commission also raised its 2012 Euro-Zone inflation forecast to 2.1% from a Nov estimate of 1.7%, which may potentially limit the ECB's scope for further interest rate cuts. The British pound rebounded from Wednesday's 1-week low against the dollar after the Feb U.K. CBI index of total factory orders rose +13 to -3, better than expectations of +3 to -13 and its best level in 6 months.
  • Asian stocks today closed mixed with Japan up +0.44%, China +0.34%, Australia -0.16%, South Korea -1.14%, India -0.37%. Japan's Nikkei 225 Stock Average climbed to a 6-1/2 month high as the yen's plunge to a 7-1/4 month low against the dollar boosted the earnings outlook for exporters. Japan's TSE Second Section Price Index, a measure of smaller companies on the Tokyo stock exchange, posted gains for the 28th consecutive day, its longest series of advances since Bloomberg data began in 1961 as Japan's $250 billion in spending to rebuild after last year's record earthquake is helping to fuel the rally in smaller stocks. China's Shanghai Stock Index posted a 2-1/2 month high as property developers and builders rallied on speculation more local governments are challenging real-estate restrictions after the National Business Daily reported that a county in Zhejiang province canceled restrictions on buying homes from this year. Falling home prices in China has fueled attempts by some of the country's smaller cities to release tightening on property policies.
Overnight U.S. Stock News
  • March S&Ps this morning are trading up +0.30 of a point. The US stock market Wednesday finished lower as global economic concerns along with weaker than expected Jan U.S. existing home sales undercut support for stock prices: Dow Jones -0.21%, S&P 500 -0.33%, Nasdaq Composite -0.51%. Bearish factors Wednesday included (1) global economic growth concerns after the Feb China HSBC flash manufacturing PMI showed China's manufacturing activity may have contracted for a fourth month (+0.9 to 49.7) along with the unexpected contraction in the Feb Euro-Zone PMI composite index (-0.7 to 49.7 versus expectations of +0.1 to 50.5), (2) a slump in homebuilders after the weaker than expected Jan U.S. existing home sales (+4,3% to 4.57 million versus expectations of +1.1% to 4.66 million, and (3) heightened European sovereign-debt concerns after Fitch Ratings cut Greece's credit rating 2 levels to C from CCC and said a default is "highly likely in the near term."
  • Bullish factors included (1) overall improvement in the housing market despite the weaker-than-expected Jan U.S. existing home sales which climbed to 4.57 million, the most in 20 months and (2) reduced funding concerns for European banks as the 3-month cross-currency basis swap, the rate banks pay to convert euro interest payments into dollars, fell to 68 bp below the euro interbank offered rate, a 6-1/2 month low.
  • Hewlett-Packard (HPQ) slipped 1.4% in European trading after the company said profit before some items in the 3 months through April will be 88 cents to 91 cents a share, below analysts' estimates of 95 cents.
Today's Market Focus
  • March 10-year T-notes this morning are down -4 ticks. T-note prices Wednesday settled higher on increased safe-haven demand over Greek default concerns along with decent demand for the Treasury's $35 billion 5-year T-note auction: TYH2 +13.0, FVH2 +6.2, EDM2 -0.5. Bullish factors included (1) increased safe-haven demand for Treasuries after Fitch Ratings cut Greece's credit rating 2 levels to C from CCC and said a default is "highly likely in the near term," (2) the Fed's purchase of $1.84 billion of long-term Treasuries as it replaces the short-term debt in its portfolio with longer-term Treasuries as part of its Operation Twist program to keep borrowing costs low, and (3) decent demand for the Treasury's $35 billion auction of 5-year T-notes that had a bid-to-cover ratio of 2.89, stronger than the 12-auction average of 2.87. Bearish factors Tuesday included (1) the increase in Jan existing U.S. home sales to their best level in 20-months (+4.3% to 4.57 million), and (2) supply pressures ahead of the Treasury's $29 billion auction of 7-year T-notes on Thu.
  • The dollar index this morning is weaker and at a 1-1/2 week low with the dollar/yen -0.14 yen and the euro/dollar +0.43 cents. The dollar index Wednesday settled slightly higher after the Feb Euro-Zone PMI composite unexpectedly contracted along with the slump in the yen to a 7-1/4 month low against the dollar: Dollar Index +0.167, USDJPY +0.552, EURUSD +0.00151. Bullish factors included (1) the slide in the yen as the BOJ's actions to boost its asset purchases weakens the yen's interest rate differentials, (2) weakness in the British pound which fell to a 1-week low against the dollar after the minutes of the Feb 8-9 BOE policy meeting showed 2 policy makers wanted the BOE to increase its asset purchases by 75 billion pounds, more than the 50 billion pound increase supported by the other 7 policy makers, (3) the action by Fitch Ratings to cut Greece's credit rating 2 levels to C from CCC, saying a default is "highly likely in the near term," and (4) the unexpected contraction in the Feb Euro-Zone PMI composite, which is euro negative.
  • Apr crude oil prices this morning are up +7 cents a barrel and Apr gasoline is +0.85 of a cent per gallon. Crude oil and gasoline prices Wednesday fluctuated on both sides of unchanged and finally finished slightly higher as geopolitical risks from Iran outweighed global energy demand concerns: CLJ12 +$0.03, RBJ +1.45. Bullish factors included (1) heightened geopolitical concerns after officials from the IAEA said they were denied access to an Iranian military base and that talks over Iran's nuclear program "couldn't find a way forward," and (2) the prediction from Goldman's head of energy research that "stronger-than-expected demand against limited inventory and scarce excess production capacity leaves the market vulnerable to price spikes in the near-to-medium term." Bearish factors included (1) strength in the dollar, (2) the unexpected contraction in the Feb Euro-Zone PMI composite index, which signals weakened fuel demand, and (3) concern over Chinese fuel demand after the Feb China HSBC flash manufacturing PMI shows China's manufacturing activity may have contracted for a fourth month. Expectations for Thursday's weekly DOE inventory report (released 1-day late due to Monday's holiday) are for crude oil supplies to increase 1.5 million bbl, gasoline stockpiles to fall -250,000 bbl, distillate inventories to decline -1.38 million bbl and the refinery utilization rate to fall -0.5 to 83.5% of capacity.
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): AIG-American International Group (BEST earnings consensus $0.56), TGT-Target (1.39), AMT-American Tower (0.29), PSA-Public Storage (0.96), CRM-Salesforce.com (0.40), PEG-Public Service Enterprise Group (0.48), VNO-Vornado Realty Trust (0.42), KSS-Kohls (1.80), DISH-Dish Network (0.61), ESV-Ensco PLC (0.95), GPS-The Gap (0.40), LINTA-Liberty Interactive (0.38), LMCA-Liberty Media (0.40), MNST-Monster Beverage (0.37), MRVL-Marvell Technology Group Ltd. (0.17), ADSK-Autodexk (0.45), HRL-Hormel Foods (0.48).
Global Financial Calendar
Thursday 2/23/12
United States
0830 ET Weekly initial unemployment claims expected +7,000 to 355,000, previous -13,000 to 348,000. Weekly continuing claims expected +34,000 to 3.460 million, previous 100,000 to 3.426 million.
1000 ET Dec FHFA house price index purchase only expected +0.1% m/m, Nov +1.0% m/m. Q4 FHFA house price index purchase only expected +0.2% q/q, Q3 +0.2% q/q.
1300 ET Treasury auctions $29 billion 7-year T-notes.
1630 ET Weekly money supply report and Fed balance sheet.
Germany
0400 ET Feb German IFO business climate expected +0.5 to 108.8, Jan +1.0 to 108.3. Feb IFO current assessment expected +0.2 to 116.5, Jan 0.4 to 116.3. Feb IFO expectations expected +1.1 to 102.0, Jan +2.3 to 100.9.
Euro-Zone
0515 ET European Commission issues interim economic forecasts.
United Kingdom
0600 ET Feb U.K. CBI total orders expected +3 to -13, Jan +7 to -16.
Japan
1850 ET Jan Japan corporate service price index expected +0.1% y/y, Dec +0.1% y/y.
CHI
2100 ET Jan China Conference Board leading economic index.

Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.

Ross Stores - ROST - Barchart Chart of the Day

Barchart.coms Chart of the Day - Ross Stores (ROST)
Related Stocks
ROST - Ross Stores
Sym Last Chg Pct
ROST 52.94 +0.89 +1.71%
The "Chart of the Day" is Ross Stores (ROST), which showed up on Wednesday's Barchart "All Time High" list. Ross Stores on Wednesday broke out to a new all-time high of $53.62 and closed up 1.71%. TrendSpotter has been Long since Nov 29 at $44.70. Ross Stores was last featured on Chart of the Day on the October 11 close of $42.48, which means the stock has since rallied by more than $10 per share. In recent news on the stock, the company on Feb 2 reported sales up 5%, raised its quarterly dividend by 27% to 14 cents, and said it plans to complete the rest of its $450 million buyback plan in FY 12. Ross Stores, with a market cap of $11.8 billion, operates a chain of off-price retail apparel and home accessories stores that target value-conscious men and women between the ages of 25 and 54 in middle-to-upper middle income households.

rost_700
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
  • TrendSpotter: Buy
  • Short-Term Indicators: 100% Buy
  • Medium-Term Indicators: 100% Buy
  • Long-Term Indicators: 100% Buy
  • Overall Average 100% Buy


Barchart links for further information:

Quotes and Charts
Quote
Detailed Quote
Chart

Technical Analysis
Technicals Summary
Trader's Cheat Sheet™

Barchart Opinions
Barchart Opinion
Barchart Snapshot
Trading Strategies

Company Info
Company Profile
Key Statistics
Ratios
Income Statement-Quarterly
Income Statement-Annual
Balance Sheet-Current
Balance Sheet-Annual


Chart of the Day Archive
View Past Chart of the Day Reports

Wednesday, February 22, 2012

3 Mid Cap S&P 400 stocks on the move up

I used Barchart to screen the Mid Cap S&P 400 stocks to find the 3 with the most consistent upward price momentum and found Oceaneering International (OOI), Nordson (NDSN), and Dril-Quip (DRQ)

Oceaneering International (OII)


Barhchart technical indicators:
  • 96% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 17 new highs and up 17.18% in the last month
  • Relative Strength Index 78.39%
  • Barchart computes a technical support level at 54.19
  • Recently traded at 56.01 with a 50 day moving average of 48.78
Nordson (NDSN)


Barchart technical indicators:
  • 96% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 16 new highs and up 15.45% in the last month
  • Relative Strength Index 72.11%
  • Barchart computes a technical support level at 51.01
  • Recent;y traded at 51.86 with a 50 day moving average of 45.13
Dril-Quip (DRQ)


Barchart technical indicators:
  • 96% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 16 new highs and up 12.80% in the last month
  • Relative Strength Index 65.91%
  • Recently traded at 75.07 with a 50 day moving average of 68.22




Barchart Morning Call 2/22

Barchart Morning Call
Overnight Developments
  • Global stocks this morning are lower with the Euro Stoxx 50 down 0.9% and Mar S&Ps down 2.00 points (-0.15%). The main bearish factor was the drop in the Feb Eurozone composite PMI to 49.7 from 50.4 in January, which was weaker than market expectations for a small 0.1 point increase to 50.5. The Eurozone manufacturing PMI rose by 0.2 points to 49.0 from 48.8 in January, while the services PMI fell by 1.0 point to 49.4 from 50.4 in January. On the brighter side, the Eurozone industrial new orders report of +1.9% m/m and -1.7% y/y was stronger than market expectations of +0.5% m/m and -2.8% y/y. European stocks are also lower as the market waits to see if all the conditions and approvals for the Greek bailout deal are completed. The Obama administration today plans to release a plan to reduce the corporate tax rate to 28% from 35% and close corporate tax breaks to cover the lost revenue.
  • Asian stocks today closed mostly higher: Japan +0.96%, Hong Kong +0.33%, China +1.37%, Taiwan +1.01%, Australia +0.4%, Singapore -0.97%, South Korea +0.28%, India -1.54%.
Overnight U.S. Stock News
  • March S&Ps this morning are trading -2.00 points on negative carry-over from the 0.89% sell-off in European stocks and the weaker-than-expected Eurozone PMI report. The US stock market Tuesday settled mostly higher after China cut banks reserve requirements by 50 bp and after European leaders agreed on a 130 billion euro bailout for Greece: Dow Jones +0.12%, S&P 500 +0.07%, Nasdaq Composite -0.11%. The S&P 500 posted a 9-1/2 month high, the Dow Jones climbed to its highest level in 3-3/4 years and the Nasdaq climbed to an 11-year high. Bullish factors Tuesday included (1) optimism Chinese growth will strengthen and boost the overall global economy after the PBOC cut banks' reserve requirements Saturday by 50 bp to 20.5% from Feb 24, (2) reduced Greek default concerns after European finance ministers approved a 130 billion euro aid plan for Greece, and (3) strength in energy and raw-material producers as most commodities rallied on optimism global economic growth will expand.
  • Bearish factors included (1) concern that the Greek debt crisis remains unresolved after IMF and European officials indicated that Greece may remain encumbered by debt even after the bailout and that Greece's debt may still balloon to 160% of GDP in a worst case scenario, which would violate the terms of its bailout and send it to default, (2) weakness in airline and transportation stocks after crude prices surged to a 9-1/2 month high, which may increase fuel costs and reduce their profit margins, and (3) the jump in the 10-year T-note yield to a 4-week high of 2.077%.
Today's Market Focus
  • March 10-year T-notes this morning are trading -2 ticks on continued negative technicals. T-note prices Tuesday tumbled to a 4-week low and settled lower for a third day after EU finance ministers agreed on a second bailout package for Greece, which reduced the safe-haven demand for Treasuries: TYH2 -9.0, FVH2 -5.0, EDM2 +0.5. Bearish factors Tuesday included (1) long-liquidation pressures in Treasuries as the action by EU finance ministers to agree to a 130 billion euro aid package for Greece fueled a rally in the S&P 500 to a 9-1/2 month high that curbed the safe-haven demand for U.S. government debt, and (2) supply pressures ahead of the Treasury's $35 billion auction of 5-year T-notes on Wed. Bullish factors included (1) increased safe-haven demand for Treasuries after IMF and European officials indicated that Greece may remain encumbered by debt even after the bailout and that Greece's debt may still balloon to 160% of GDP in a worst case scenario, which would violate the terms of its bailout and send it to default and (2) decent demand for the Treasury's $35 billion auction of 2-year T-notes that had a bid-to-cover ratio of 3.54, stronger than the 12-auction average of 3.42.
  • The dollar index this morning is up 0.119 points with USDJPY up 0.51 and the EURUSD unchanged. The dollar index Tuesday fell to a 1-week low on reduced safe-haven demand after Greece won a second international bailout: Dollar Index -0.287, USDJPY +0.112, EURUSD -0.00082. Bearish factors included (1) strength in the euro after European finance ministers approved 130 billion euros of aid for Greece, (2) reduced safe-haven demand for the dollar after the S&P 500 rose to a 9-1/2 month high, (3) the euro supportive statement from Germany's Bundesbank that "the outlook for the German economy improved perceptibly" even as risks remain from the European debt crisis, and (4) reduced safe-haven demand for the dollar after China cut banks' reserve ratios by 50 bp, which should improve global economic prospects. Bullish factors Tuesday included (1) weakness in the yen which remained near Monday's 6-1/2 month low against the dollar after Standard & Poor's on Monday affirmed Japan's sovereign-debt rating at AA- while maintaining a negative outlook and warned that "a downgrade is likely if medium-term growth prospects weaken," (2) concern the Greek debt crisis may still be unresolved after IMF and European officials indicated that Greece may remain encumbered by debt even after the bailout and that Greece's debt may still balloon to 160% of GDP in a worst case scenario, and (3) increased safe-haven demand for the dollar on heightened geopolitical concerns after Iran's Fars news agency reported an Iranian military commander who said Iran would consider taking pre-emptive action in response to threats from the West.
  • Apr crude oil prices this morning are down 41 cents and Mar gasoline is down 0.98 cents per gallon on general commodity weakness. Crude oil and gasoline prices Tuesday rallied sharply after Euro-Zone finance ministers agreed to a bailout for Greece along with Iran's halt to oil exports to the U.K. and France: CLJ12 +$2.65, RBJ +6.09. Apr crude posted a 9-1/2 month high and Apr gasoline rose to a 6-1/2 month high. Bullish factors included (1) the slide in the dollar index to a 1-week low, (2) the action by EU finance ministers to award Greece with 103 billion euros in aid for financing its debt, which reduces he chances of a Greek default, (3) the action by Iran to stop selling crude to the U.K. and France and its pledge to press on with its nuclear program, which increases geopolitical risks in the Middle East, and (4) the action by China to cut banks' reserve requirements by 50 bp, which may stimulate economic growth and fuel demand in the world's second-largest crude consumer, and (5) the rally in the S&P 500 to a 9-1/2 month high, which boosts confidence in the economic outlook and energy demand.
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): HPQ-Hewlett-Packard (BEST earnings consensus $0.87), TJX-TJX Cos. (0.63),ESRX-Express Scripts (0.85), WPZ-Williams Partners LP (0.98), WMB-Williams Cos. (0.41), CLR-Continental Resources (0.78), LTD-Limited Brands (1.46), LBTYA-Liberty Global (0.26), ADI-Analog Devices (0.48), CXO-Concho Resources (1.19), DLTR-Dollar Tree (1.58), FLR-Fluor (0.82), AVGO-Avago Technologies Ltd. (0.58), GRMN-Garmin Ltd. (0.64), WIN-Windstream (0.20), MGM-MGM Resorts International (-0.20).
Global Financial Calendar
Wednesday 2/22/12
United States
0700 ET Weekly MBA mortgage applications, previous -1.0% with purchase mortgage sub-index -8.4% and refinancing sub-index +0.8%.
0745 ET ICSC (Int?l Council of Shopping Centers) weekly retailer sales.
0855 ET Redbook weekly retailer sales.
1000 ET Jan existing home sales expected +1.1% to 4.66 million, Dec +5.0% to 4.61 million.
1130 ET Weekly 4-week T-bill auction.
1300 ET Treasury auctions $35 billion 5-year T-notes.
France
0130 ET Jan French CPI (EU harmonized) expected -0.2% m/m and +2.8% y/y, Dec +0.4% m/m and +2.7% y/y.
0300 ET Feb French PMI manufacturing expected +0.5 to 49.0, Jan -0.4 to 48.5.
0300 ET Feb French PMI services expected -0.3 to 52.0, Jan +2.0 to 52.3.
Germany
0330 ET Feb German PMI manufacturing expected +0.5 to 51.5, Jan +2.6 to 51.0.
0330 ET Feb German PMI services expected +0.1 to 53.8, Jan +1.3 to 53.7.
Euro-Zone
0400 ET Feb Euro-Zone PMI composite expected +0.1 to 50.5, Jan +2.1 to 50.4.
0500 ET Dec Euro-Zone industrial new orders expected +0.5% m/m and -2.8% y/y, Nov -1.2% m/m and -2.7% y/y.
United Kingdom
0430 ET Minutes of the Feb 8-9 BOE policy meeting.

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TJC Companies - TJX - Barchart Chart of the Day

Barchart.coms Chart of the Day - TJX Companies (TJX)
Related Stocks
TJX - Tjx Companies
Sym Last Chg Pct
TJX 35.13 -0.09 -0.26%
The "Chart of the Day" is TJX Companies (TJX), which showed up on Tuesday's Barchart "All Time High" list. TJX on Tuesday posted a new all-time high of $35.30 and closed up 1.00%. TrendSpotter has been Long for the last three months since Nov 11 at $30.67. In recent news on the stock, UBS on Jan 31 added TJX to its Most Preferred list. TJX Companies, with a market cap of $25 billion, is the leading off-price retailer of apparel and home fashions in the U.S. and worldwide. The Company operates T.J. Maxx, Marshalls, and HomeGoods stores in the United States, Winners, HomeSense, Marshalls, and STYLESENSE stores in Canada, and T.K. Maxx and HomeSense stores in Europe.

tjx_700
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
  • TrendSpotter: Buy
  • Short-Term Indicators: 100% Buy
  • Medium-Term Indicators: 100% Buy
  • Long-Term Indicators: 100% Buy
  • Overall Average 100% Buy


Barchart links for further information:

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Quote
Detailed Quote
Chart

Technical Analysis
Technicals Summary
Trader's Cheat Sheet™

Barchart Opinions
Barchart Opinion
Barchart Snapshot
Trading Strategies

Company Info
Company Profile
Key Statistics
Ratios
Income Statement-Quarterly
Income Statement-Annual
Balance Sheet-Current
Balance Sheet-Annual


Chart of the Day Archive
View Past Chart of the Day Reports

Tuesday, February 21, 2012

3 Large Cap S&P 500 stocks on the move

This morning I used Barchart to screen the Large Cap S&P 500 stocks to find those having the most consistent upward momentum and found Limited Brands (LTD), Cincinnati Financial (CINF) and Coach (COH):

Limited Brands (LTD)


Barchart technical indicators:
  • 80% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 11.38% in the last month
  • Relative Strength Index 69.39%
  • Barchart computes a technical support level at 45.47
  • Recently traded at 45.90 with a 50 day moving average of 41.53
Cincinnati Financial (CINF)


Barchart technical indicators:
  • 100% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 10.26% in the last month
  • Relative Strength Index 83.47%
  • Barchart computes a technical support level at 35.33
  • Recently traded at 35.87 with a 50 day moving average of 31.90
Coach (COH)


Barchart technical indicators:
  • 72% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 15.79% in the last month
  • Relative Strength Index 74.37%
  • Barchart computes a technical support level at 74.22
  • Recently traded at 75.06 with a 50 day moving average of 65.38




Barchart Morning Call 2/23

Barchart Morning Call
Overnight Developments
  • Global stocks this morning are mixed with the Euro Stoxx 50 down -0.31% and Mar S&Ps up +2.70 points. The euro fell back from a 1-week high against the dollar and European stocks retreated even after European finance ministers approved 130 billion euros of aid for Greece on concern that Greece's debt crisis will persist even after a second bailout. The dollar index climbed to a 1-week high after IMF and European officials indicated that Greece may remain encumbered by debt even after the bailout and that Greece's debt may still balloon to 160% of GDP in a worst case scenario. Crude oil surged to a 9-1/2 month high in overnight electronic trade after Greece's second bailout was agreed upon along with the report Sunday from Iran's oil-ministry news website Shana that Iran will cut oil supplies to the U.K. and France. U.S. stock futures moved higher after China cut banks' reserve requirements by 50 bp to 20.5% from Feb 24.
  • Asian stocks today closed mixed with Japan down -0.23%, China up +0.86%, Australia +0.82%, South Korea -0.0%, India +0.76%. Japanese stocks retreated from Monday's 6-1/2 month high after the yen recovered from its 6-1/2 month low against the dollar. The yen plunged to a 6-1/2 month low against the dollar Monday after Standard & Poor's affirmed Japan's sovereign-debt rating at AA- while maintaining a negative outlook and warned that "a downgrade is likely if medium-term growth prospects weaken." China's Shanghai Stock Index finished higher and just below Monday's 2-1/2 month high as banks and financial stocks rallied on carry-over support from Monday's gains after the PBOC cut banks reserve requirements by 50 bp Saturday along with strength in exporters after the China Daily reported that Vice Commerce Minister Zhong Shan said China will raise export tax rebates for some goods for the first time since 2009 this year.
Overnight U.S. Stock News
  • March S&Ps this morning are trading up +2.70 points. The US stock market on Friday settled mostly higher on increased economic confidence along with optimism that an agreement on a Greek rescue package can be reached: Dow Jones +0.35%, S&P 500 +0.23%, Nasdaq Composite -0.27%. The S&P 500 posted a 9-1/2 month high and the Dow Jones climbed to its highest level in 3-3/4 years. Bullish factors Friday included (1) the +0.4% increase in Jan leading indicators, which rose for the fourth consecutive month and points to continued economic strength and (2) optimism a resolution to a Greek aid package can finally be reached after a conference call between Italian Prime Minister Monti, German Chancellor Merkel and Greek Prime Minister Papademos ended with all parties saying an "agreement on Greece" can be reached at the Feb 20 Euro-Zone finance ministers meeting.
  • Bearish factors included (1) concern that the action by the ECB to swap its Greek debt holdings for new Greek bonds may be construed by ratings agencies as a default and (2) concern over China's banking system after the China Banking Regulatory Commission reported that Q4 China commercial banks' bad loans rose 20.1 billion yuan ($3.2 billion) to 427.9 billion yuan as non-performing loans accounted for 0.96% of total lending, up from 0.95% in Q3.
  • Home Depot (HD) climbed 1% in pre-market trading after the company reported Q4 EPS of 50 cents, well ahead of analysts' estimates of 42 cents.
Today's Market Focus
  • March 10-year T-notes this morning are down -7.5 ticks. T-note prices on Friday dropped to a 1-1/2 week low and settled lower for a second day as a rally in stocks and speculation that EU leaders will reach an agreement to provide funding for Greece discouraged the safe-haven demand for Treasuries: TYH2 -2.0, FVH2 +0.5, EDM2 -0.5. Bearish factors Friday included (1) the larger-than-expected increase in Jan core CPI which rose at its fastest pace in 3-1/3 years (+2.3% y/y versus expectations of +2.2% y/y), (2) the rally in the S&P 500 to a 9-1/2 month high, which reduced the safe-haven demand for Treasuries, and (3) a conference call between Italian Prime Minister Monti, German Chancellor Merkel and Greek Prime Minister Papademos in which they all agreed that an "agreement on Greece" can be reached at the Feb 20 Euro-Zone finance ministers meeting. Bullish factors included (1) the Fed's action to purchase $4.96 billion of long-term Treasuries as part of its Operation Twist program to hold down borrowing costs by exchanging shorter-term debt in its holdings for longer ones and (2) increased safe-haven demand for Treasuries on concern that the ECB's swap of Greek bonds for new ones may be construed by ratings agencies as a default.
  • The dollar index this morning is higher with the dollar/yen +0.03 yen and the euro/dollar -0.37 cents. The dollar index on Friday gyrated on either side of even and finally settled little changed: Dollar Index -0.017, USDJPY +0.620, EURUSD +0.00113. Bearish factors included (1) strength in the euro on optimism a bailout for Greece will soon be finalized, (2) reduced safe-haven demand for the dollar after the S&P 500 rose to a 9-1/2 month high, and (3) strength in the British pound which rose to a 1-week high against the dollar after Jan U.K. retail sales unexpectedly increased for a second month. Bullish factors Friday included (1) weakness in the yen which plunged to a 3-1/2 month low against the dollar and (2) the +0.4% increase in Jan leading indicators, which rose for the fourth consecutive month and point to economic strength that is dollar supportive.
  • Mar crude oil prices this morning are up +$1.38 a barrel at a 9-1/2 monthhigh and Mar gasoline is +2.13 cents per gallon at a 6-1/2 month high. Crude oil and gasoline prices Friday settled mixed as weak U.S. fuel demand undercut gasoline while confidence in the U.S. economy and optimism for a Greek aid package lifted crude: CLH12 +$0.93, RBH -3.13. Mar crude posted a 1-1/2 month high and Mar gasoline rose to a 5-1/2 month high but erased its gains and closed lower. Bullish factors included (1) the rally in the S&P 500 to a 9-1/2 month high, which boosts confidence in the economic outlook and energy demand and (2) optimism that progress has been made for Greece to receive an aid package it needs to avoid default. Bearish factors included (1) API data that showed the total deliveries of petroleum products, a measure of demand, fell -5.7% y/y in Jan to 18 million barrels a day, the lowest for a Jan in 17 years and (2) data that shows Jan U.S. crude production climbed by +3.8% to 5.69 million barrels a day, an 8-year high for the month.
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): WMT-Wal-Mart Stores (BEST earnings consensus $1.45), HD-Home Depot (0.42), KFT-Kraft Foods (0.57), MDT-Medtronic (0.84), DELL-Dell (0.51), MHS-Medco Health Solutions (1.17), INTU-Intuit (0.45), CHK-Chesapeake Energy (0.59), M-Macy's (1.65), WFT-Weatherford International Ltd (0.33), RRC-Range Resources (0.30), GPC-Genuine Parts (0.83), MYL-Mylan (0.50), EXPD-Expeditors International (0.46), HLF-Herbalife Ltd. (0.72).
Global Financial Calendar
Tuesday 2/21/12
United States
0830 ET Jan Chicago Fed national activity index expected +0.05 to +0.22, Dec +0.63 to +0.17.
1130 ET Weekly 3-mo and 6-mo T-bill auctions.
1300 ET Treasury auctions $35 billion 2-year T-notes.
United Kingdom
0430 ET Jan U.K. public sector net borrowing expected -9.1 billion pounds, Dec +10.8 billion pounds.
Canada
0830 ET Dec Canada retail sales expected -0.2% and +0.2% less autos, Nov +0.3% and +0.3% less autos.
0830 ET Dec Canada wholesale sales expected +0.5% m/m, Nov -0.4% m/m.
Euro-Zone
0300 ET EU finance ministers meet in Brussels.
1000 ET Feb Euro-Zone consumer confidence expected +0.4 to -20.3, Jan +0.6 to -20.7.

Barchart.com provides Financial Quotes, Charts and Technical Analysis for Stock and Commodity Traders.

FMC Corp - FMC - Barchart Chart of the Day

Barchart.com's Chart of the Day - FMC Corp (FMC)
Related Stocks
FMC - Fmc Corp.
Sym Last Chg Pct
FMC 97.75 +1.13 +1.17%
The "Chart of the Day" is FMC Corp (FMC), which showed up on Friday's Barchart "All Time High" and "Gap Up" lists. FMC on Friday posted a new all-time high of $96.74 and closed +1.50%. TrendSpotter last Monday took a profit on a long trade, briefly turned neutral, and then issued a new Buy signal last Wednesday. In recent news on the stock, FMC last Friday announced a hike in its quarterly dividend by 20% to 18 cents per share from 15 cents and also announced a $250 million share repurchase plan. FMC on Feb 8 reported Q4 adjusted EPS of $1.58 versus the consensus of $1.37. FMC, with a market cap of $6.7 billion, is one of the world's leading producers of machinery and chemicals for industry and agriculture.

fmc_700
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "All Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new All-Time high is typically showing strong upside momentum.
The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
  • TrendSpotter: Buy
  • Short-Term Indicators: 100% Buy
  • Medium-Term Indicators: 100% Buy
  • Long-Term Indicators: 100% Buy
  • Overall Average 100% Buy


Barchart links for further information:

Quotes and Charts
Quote
Detailed Quote
Chart

Technical Analysis
Technicals Summary
Trader's Cheat Sheet™

Barchart Opinions
Barchart Opinion
Barchart Snapshot
Trading Strategies

Company Info
Company Profile
Key Statistics
Ratios
Income Statement-Quarterly
Income Statement-Annual
Balance Sheet-Current
Balance Sheet-Annual


Chart of the Day Archive
View Past Chart of the Day Reports