Friday, June 1, 2012

3 NASDAQ 100 stocks for your watch lists

I use screeners to save a tremendous amount of time to find the stocks I'll like to look into further. Today I used Barchart to screen the NASDAQ 100 stocks to find the 3 with the best Barchart buy signals and found Monster Beverages (MNST), Expedia (EXPE) and Whole Foods Market (WFM)

Monster Beverage (MNST)

Barchart technical indicators:

80% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
2 new highs and up 6.38% in the last month
Relative Strength Index 56.00%
Barchart computes a technical support level at 71.11
Recently traded at 71.04 with a 50 day moving average of 66.16

Expedia (EXPE)

Barchart technical indicators:

80% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
5 new highs and up 6.49% in the last month
Relative Strength Index 62.88%
Barchart computes a technical support level at 43.76
Recently traded at 44.32 with a 50 day moving average of 37.57

Whole Foods Markets (WFM)

Barchart technical indicators:

48% Barchart technical buy signal
Trend Spotter buy signal
Above its 50 and 100 day moving averages
3 new highs and up 2.70% in the last month
Relative Strength Index 49.30%
Barchart computes a technical support level at 87.29
Recently traded at 86.39 with a 50 day moving average of 85.37

Barchart's Chart of the Day

Barchart Morning Call

BC - Fri Jun 01, 7:00AM CDT

Overnight Developments

June E-mini S&Ps this morning are trading -15.00 points (-1.15%) on the much weaker-than-expected Chinese May manufacturing PMI report released last night of -2.9 to 50.4. The market is also worried about this morning's US payroll report. Commodity prices are sharply lower this morning with an average loss of -0.88%. Crude oil is down -1.90%, gold is down -0.84%, copper is down -1.01%, and agricultural commodities are mostly lower. June T-notes are up 12 ticks. The dollar index is up 0.30% and EUR/USD is down -0.29%.
The Euro Stoxx 50 is down -1.15% this morning on the Chinese PMI report and on today's climb in the Eurozone unemployment rate to a record high of 11.0%. Asian stocks today closed lower nearly across the board: Japan -1.20%, Hong Kong -0.38%, China +0.04%, Taiwan -2.68%, Australia -0.30%, Singapore -0.97%, South Korea -0.44%, India -1.56%, Turkey -0.59%.
The German 10-year bund yield today fell 4 bp to a new record low of 1.16% on today's sell-off in European stocks and continued flight-to-quality. Spain's 10-year yield this morning is up 1 bp at 6.57%, mildly below this week's peak of 6.66% on Wednesday. The price of Spanish credit default swaps (the cost of insuring against a Spanish sovereign default) rose by 9 bp today to a record 609 basis points.
The Eurozone April unemployment rate was unchanged from March at 11.0%, the highest since the data series began in 1995. The report was in line with market expectations. March was revised higher to 11.0% from 10.9%. The number of unemployed persons rose by 110,000 to 17.4 million. Spain had the highest unemployment rate at 24.3%, up from 24.1% in March.
The markets are still awaiting the results of the Irish vote on the fiscal pact, which is a constitutional balanced budget agreement. One Irish official quoted by the local media predicted the measure will win by 57% to 43% based on early counts. The final results are due to 4pm Dublin time. A "yes" vote is critical because Ireland will not be able to get another bailout from the Eurozone if that becomes necessary unless the country approves the fiscal pact.

China's May manufacturing purchasing managers index (PMI), which was released last night, fell sharply by -2.9 points to 50.4 and was much weaker than expectations of 52.0. In addition, the PMI new orders index fell even more sharply by 4.7 points to 49.8, which was below the expansion-contraction level of 50.
Market Comments

June E-mini S&Ps this morning are trading -15.00 points on last night's weak Chinese PMI report, this morning's 1.15% sell-off in European stocks, and fears of a weaker-than-expected U.S. May payroll report today. U.S. stocks on Thursday closed mildly lower: S&P 500 -0.23%, Dow Jones -0.21%, Nasdaq 100 -0.49%. U.S. stocks were hit with a raft of weak U.S. economic data that included the May ADP employment report of +133,000 (versus expectations of +150,000), the downward revision in Q1 GDP to +1.9% from +2.2% and in Q1 personal consumption to +2.7% from +2.9%, the +13,000 rise in weekly initial unemployment claims, and the sharp 3.5 point drop in the Chicago PMI index to 52.7 versus expectations for a 0.6 point rise. The stock market was also undercut by continued worries about Spain as Spanish Finance Minister Luis de Gindos said on Thursday that, "The future of the euro is going to be at play in the next weeks in Spain and Italy. I don't know if we're on the edge of a precipice, but we're in a very, very, very difficult situation."
June 10-year T-notes this morning are up 12 ticks and the 10-year T-note yield has fallen to a new record low of 1.534%. Safe-haven demand continues with today's sell-off in stocks. T-note prices on Wednesday closed sharply higher: TYM2 +7.5, FVM2 +1.25. The 10-year bond yield on Thursday fell to a new record low of 1.53% and closed the day at 1.56%. In addition to safe-haven demand, T-note prices yesterday received a boost from the raft of weak U.S. economic data, which not only dampened the inflation outlook but also raised the odds that the FOMC at its next meeting on June 19-20 will either extend its Operation Twist program or adopt a reserve-neutral mortgage securities purchase program.
The dollar index this morning is up +0.25 points (+0.30%) as safe-haven buying continues. EUR/USD is down 0.0036 (-0.29%) and USD/JPY is down 0.12 (-0.15%). The dollar index on Thursday closed slightly higher after edging to a new 1-2/3 year high: Dollar Index +0.03 (+0.03%), EUR/USD -0.0002 (-0.02%), USD/JPY -0.95 (-0.50%). EUR/USD fell to a new 2-year low on continued capital flight out of Europe. USD/JPY fell sharply by 0.95 cents to a new 3-1/2 month low as Japanese investors pulled capital back home to flee global volatility and as non-Japanese investors invested in Japan as a safe-haven. Japanese officials are not happy about the strength in the yen and are implicitly threatening forex intervention.
July WTI crude oil prices this morning are sharply lower by 1.64 (-1.90%) on the rally in the dollar and general commodity market weakness tied to the weak Chinese manufacturing PMI report. July gasoline this morning is sharply lower by -4.52 (-1.66%). Bloomberg reported today that OPEC production in May rose by 20,000 bpd to 31.595 million bpd, the highest level since 2008. Meanwhile, Saudi production rose by 80,000 bpd to 9.9 million bpd, the highest level since January 1989.
July crude oil and gasoline prices on Thursday closed sharply lower: CLN2 -1.29 (-1.47%), RBN2 -0.0512 (-1.85%). Bearish factors for crude oil prices included (1) the raft of weak U.S. economic data, (2) news that India's Q1 GDP eased to a 9-year low of +5.3% y/y, which was weaker than market expectations of +6.1% y/y and down from Q4's report of +6.1% y/y. (3) ongoing worries about the fall-out from the European debt crisis, and (4) the continued climb in U.S. crude oil inventories to a new 2-year high. Thursday's weekly DOE report showed a 2.213 million barrel (+0.6%) rise in U.S. crude oil inventories to a new 22-year high. Crude oil inventories are now 9.5% above their 5-year seasonal average, the highest such level since December 2010. Meanwhile the DOE report was bullish for the products with a 833,000 barrel decline in gasoline inventories (versus expectations of 250,000 barrel decline) and a 1.709 million barrel drop in distillate inventories (versus expectations of unchanged). Gasoline inventories are now 3.7% below their 5-year seasonal average and distillate inventories are 12.3% below average. The refinery utilization rate rose by 1 point to 89.1% where it is 1.5 points above its 5-year seasonal average.

For the full subscription version of this daily report (plus a 13-page big-picture weekly report), along with the earliest possible delivery in the morning, please visit http://www.barchart.com/register/crbfms_usmc.php
Today's U.S. Earnings Reports Earnings reports (sorted by mkt cap): GAME-Shanda Games (consensus $0.20), CHRS-Charming Shoppes (0.19).
Global Financial Calendar

Friday 6/1/12
United States
0830 ET	May non-farm payrolls expected +150,000, Apr +115,000. May private payrolls expected +160,000, Apr +130,000. May manufacturing payrolls expected +16,000, Apr +16,000. May average hourly earnings expected +0.2% m/m, Apr unch m/m and +1.8% y/y. May average weekly hours expected unch at 34.5 hours. May unemployment rate expected unch at 8.1%, Apr -0.1 to 8.1%.
0830 ET	Apr personal income expected +0.3% m/m, Mar +0.4% m/m. Apr personal spending expected +0.3% m/m, Mar +0.3% m/m. Apr PCE deflator expected +0.1% m/m and +1.9% y/y, Mar +2.1% y/y. Apr core PCE deflator expected +0.2% m/m and +2.0% y/y, Mar +0.2% m/m and +2.0% y/y.
1000 ET	Apr construction spending expected +0.4%, Mar +0.1%.
1000 ET	May ISM manufacturing index expected -1.0 to 53.8, Apr +1.4 to 54.8. May ISM prices paid sub-index expected -4.5 to 56.5, Apr unch at 61.0.
1700 ET	May U.S. total vehicle sales expected 11.46 mln, May 14.38 mln. May domestic vehicle sales expected 11.20 mln, Apr 11.12 mln.
Japan
0100 ET	Japan May vehicle sales, Apr 92.0% y/y.
Euro-Zone
0400 ET	Eurozone May final manufacturing PMI expected unrevised at 45.0.
0500 ET	Eurozone Apr unemployment rate expected +0.1 to 11.0%, Mar 10.9%.
Germany
0355 ET	German May final manufacturing PMI expected unrevised at 45.0.
United Kingdom
0430 ET	UK May manufacturing PMI expected -0.8 to 49.7, Apr 50.5.

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Walt Disney - DIS - Barchart's Chart of the Day

Barchart.com's Chart of the Day - Walt Disney Company (DIS)

Barchart Research Team - BC - Thu May 31, 7:40PM CDT

Related Stocks

DIS - Walt Disney Company

Sym	Last	Chg	Pct
DIS	44.85	-0.86	-1.88%

The "Chart of the Day" is Walt Disney Company (DIS), which showed up on Thursday's Barchart "All-Time High" list. Disney on Thursday posed a new all-time high of $46.10 and closed up 1.13%. TrendSpotter has been long since May 8 at $44.30. In recent news on the stock, Morgan Stanley on May 29 reiterated its Overweight rating and raised its target to $51 from $46 due to increased margins and its Avengers movie success. Walt Disney Company, with a market cap of $81 billion, is a diversified worldwide entertainment company with operations in five business segments: Media Networks, Studio Entertainment, Theme Parks and Resorts, Consumer Products and Internet and Direct Marketing.

dis_700_01

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: 80% Buy
Medium-Term Indicators: 100% Buy
Long-Term Indicators: 100% Buy
Overall Average 96% Buy

Barchart links for further information:

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Income Statement-Quarterly
Income Statement-Annual
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Chart of the Day Archive
View Past Chart of the Day Reports

Thursday, May 31, 2012

3 Small Caps with Mometum

This morning I used Barchart to screen the Small Cap S&P 600 Index stocks to find the 3 with the best momentum and found West Pharmaceutical Services (WST), Jack in the Box (JACK) and Headwaters Inc (HW)

West Pharmaceutical Services (WST)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving average
9 new highs and up 6.57% in the last month
Relative Strength Index 69.58%
Barchart computes a technical support level at 47.12
Recently traded at 47.85 with a 50 day moving average of 43.45

Jack in the Box (JACK)

Barchart technical indicators:

100% Barchart technical indicators:
Trend Spotter buy signal
Above its 20, 50 and 100 day moving average
9 new highs and up 13.82% in the last month
Relative Strength Index 76.30%
Barchart computes a technical support level at 24.91
Recently traded at 25.86 with a 50 day moving average of 23.37

Headwaters (HW)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
3 new highs and up 5.99% in the last month
Relative Strength Index 62.44%
Barchart computes a technical support level at 4.21
Recently traded at 4.60 with a 50 day moving average of 4.15

Barchart Morning Call 5/31

Barchart Morning Call

Thu, 31 May 2012 07:00:00 -0500

Overnight Developments

June E-mini S&Ps are trading mildly higher by 5.00 points (+0.38%) on today's 0.46% rally in European stocks and some short-covering after yesterday's sharp losses. Commodity prices are mixed with crude oil up +0.20%, gasoline down -0.30%, gold up +0.11%, copper down -0.03%, and agricultural commodities mixed. June 10-year T-notes are slightly lower by 1.5 ticks. The dollar index is mildly lower by -0.19% while the euro is up +0.30%.
Euro Stoxx 50 is up +0.46% this morning as German retail sales were stronger than expected and the German unemployment rate fell to a new two-decade low of 6.7%. Asian stocks today closed mostly lower following Wednesday's weak U.S. stock market session: Japan -1.05%, Hong Kong -0.32%, China -0.39%, Taiwan +0.55%, Australia -0.44%, Singapore -0.41%, South Korea -0.26%, India -0.57%, Turkey +0.93%.
Ireland's voters are going to the polls today to vote on the EU fiscal compact, which is a constitutional balanced budget requirement. Opinion polls indicate the measure should be approved by a comfortable margin. However, a surprise "no" vote would be a disaster for Ireland because it would then be unable to tap the Eurozone bailout funds again after 2013 when its current bailout package expires. The results of today's vote are not expected to be known until tomorrow.
Japan's April industrial production rose +0.2% m/m, which was weaker than market expectations of +0.5% m/m. However, Japan's April housing starts report of +10.3% to 896,000 units was stronger than market expectations of +3.2% to 838,000.
German April retail sales rose +0.6% m/m, which was stronger than market expectations of +0.2%. In addition, March retail sales were revised higher to +1.6% m/m from +0.8%.
The German unemployment report was mixed. The German May unemployment rate eased to a two-decade low of 6.7% versus expectations for an unchanged report of 6.8%. However, German unemployment was unchanged, which showed a less favorable labor market than expectations for a decline of -7,000.
Eurozone May CPI eased to +2.4% y/y from +2.6% and was weaker than expectations of +2.5%, which provided a slightly better inflation picture and may give the ECB a little more room for further monetary policy accommodation.
India's Q1 GDP eased to a 9-year low of +5.3% y/y, which was weaker than market expectations of +6.1% y/y and down from Q4's report of +6.1% y/y. India's economy has been slowed by weaker investment, fiscal austerity with a cut in the budget deficit to 5.1% of GDP in the current fiscal year from 5.9% last year, and the European debt crisis, which has undercut export prospects. India's central bank has limited room to cut interest rates because of the high +7.23% y/y inflation rate in April.

Iran tore down two buildings at its Parchin military complex near where Iran is suspected to have tested explosions on how to trigger a nuclear weapon, according to a report by the Institute for Science and International Security. Iran continues to ban IAEA inspectors from visiting the Parchin site.
Market Comments

June E-mini S&Ps this morning are trading mildly higher by 5.00 points as the market sees a little relief rally and as European stocks are trading mildly higher. U.S. stocks on Wednesday closed sharply lower: S&P 500 -1.43%, Dow Jones -1.28%, Nasdaq 100 -0.84%. Bearish factors on Wednesday included (1) the sharp 5.8% drop in April U.S. pending home sales versus expectations of unchanged, (2) rising concern about Spain's bungling of its banking system crisis and the increasing chances that Spain will need a bailout, (3) the 2.3 point drop in the European May economic confidence index to a 2-1/2 year low of 90.6 from 92.9 in April, and (4) general concern that the wheels are coming off the Eurozone with sharp increases yesterday in Spanish and Italian bond yields.
June 10-year T-notes this morning are down 1.5 ticks as safe-haven buying is taking a breather with today's mildly higher trade in E-mini S&Ps. T-note prices on Wednesday closed sharply higher: TYM2 +27, FVM2 +11.25. The 10-year T-note yield on Wednesday dropped sharply to a new record low of 1.62%. U.S. T-notes, like German bunds, are seeing heavy safe-haven demand as investors dump stocks and flee to the safety of AAA (German) or AA+ (American) government securities. T-notes are also seeing strength as the recent bout of European trouble along with slower global economic growth increases the chances that the Fed in June will extend its Operation Twist program or start a new securities purchase program.
The dollar index this morning is down -0.16 points (-0.19%) and EUR/USD is up -0.00037 (+0.30%) on a pause in the safe-haven trade. USD/JPY is down -0.24 (-0.30%). The dollar index on Tuesday closed slightly higher after edging to a new 1-2/3 year high: Dollar Index +0.54 (+0.65%), EUR/USD -0.0136 (-1.09%), USD/JP-0.42 (-0.50%). The dollar index on Wednesday continued to rally on safe-haven demand and posted a new 1-2/3 year high. Meanwhile, EUR/USD fell sharply to a new 2-year low as investors engaged in wholesale capital flight from euro-denominated investments.
July WTI crude oil prices this morning are slightly higher by +0.18 (+0.20%) going into today's weekly DOE report. The market is looking for an increase in today's weekly DOE crude oil inventory figure, although the API's crude oil inventory figure yesterday fell by 350,000 barrels. July gasoline prices this morning are down -0.82 (-0.30%). July crude oil and gasoline prices on Wednesday closed sharply lower: CLN12 -2.94 (-3.24%), RBN2 -0.0596 (-2.10%). Bearish factors for crude oil included pessimism about the world economy and expectations for another increase in U.S. crude oil inventories in Thursday's weekly DOE report to a new 21-3/4 year high. Saudi Oil Minister al-Naimi is getting his wish for $100 Brent crude oil prices as July Brent crude oil yesterday fell to $103.47. July WTI crude oil on Wednesday fell to a new 7-month low while July gasoline fell to a new 5-month low.

For the full subscription version of this daily report (plus a 13-page big-picture weekly report), along with the earliest possible delivery in the morning, please visit http://www.barchart.com/register/crbfms_usmc.php
Today's U.S. Earnings Reports Earnings reports (sorted by mkt cap): JOY-Joy Global (consensus $1.96), SAI-SAIC (0.33), ASNA-Ascena Retail (0.36), ESL-Esterline Tech (1.28), JOSB-Jos A Bank (0.79).
Global Financial Calendar

Thursday 5/31/12
United States
0730 ET	May Challenger job cuts, Apr 11.2%.
0800 ET	Fed's Pianalto speaks on monetary policy in Cleveland.
0815 ET	May ADP employment expected +150,000, Apr +119,000.
n/a	May ICSC chain store sales, Apr +0.6% y/y.
0830 ET	Weekly initial unemployment claims expected unchanged at 370,000, previous -2,000 to 370,000. Weekly continuing claims expected -10,000 to 3.250 mln, previous -29,000 to 3.260 mln.
0830 ET	Q1 GDP expected revised to +1.9% from +2.2%. Q1 personal consumption unrevised at +2.9%. Q1 GDP price index expected unrevised at 1.5%. Q1 core PCE, last +2.1%.
0830 ET	USDA weekly exports.
0945 ET	May Chicago Purchasing Managers index expected +0.7 to 56.9, Apr -6.0 to 56.2.
1000 ET	May Milwaukee NAPM index expected +0.5 to 53.4, Apr 52.9.
1030 ET	DOE Weekly Petroleum Status Report (postponed one day due to Monday's holiday).
1030 ET	DOE natural gas storage.
1630 ET	Weekly money supply report and Fed balance sheet.
Japan
0000 ET	Japan Apr vehicle production, Mar +143.7% y/y.
0100 ET	Japan Apr construction orders, Mar -0.3% y/y.
0100 ET	Japan Apr housing starts expected +3.2% to 838,000, Mar +5.0% to 848,000.
1950 ET	Japan Q1 capital spending expected +1.0%, Q4 +7.6%. Q1 capital spending ex-software expected -0.1%, Q4 +4.9%.
Germany
0200 ET	German Apr retail sale expected +0.2% m/m and +0.3% y/y, Mar +1.6% m/m and +2.3% y/y.
0355 ET	German May unemployment rate expected 6.8%, Apr 6.8%. May unemployment change expected -7,000, Apr +19,000.
Euro-Zone
0500 ET	Eurozone May CPI expected +2.5% y/y, Apr +2.6% y/y.
United Kingdom
0200 ET	UK May nationwide house prices expected +0.1% m/m and -1.1% y/y, Apr -0.2% m/m and -0.9% y/y.
IRE
n/a	Ireland holds referendum on EU fiscal pact.
CHI
2100 ET	China May manufacturing PMI expected -1.3 to 52.0, Apr 53.3.
2230 ET	China May HSBC manufacturing PMI, Apr 49.3.

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

AZZ Inc - AZZ - Barchart's Chart of the Day

Barchart.coms Chart of the Day - AZZ Inc (AZZ)

Barchart Research Team - BC - Wed May 30, 4:03PM CDT

Related Stocks

AZZ - Azz Inc.

Sym	Last	Chg	Pct
AZZ	54.44	+0.43	+0.80%

The "Chart of the Day" is AZZ Inc (AZZ), which showed up on Wednesday's Barchart "All-Time High" list. AZZ on Wednesday broke out to a new all-time high of $54.64 and closed up 0.80%. TrendSpotter has been long since May 3 at $53.39. In recent news on the stock, AZZ on April 5 reported Q4 EPS of 82 cents, right on market expectations. AZZ on April 30 signed an agreement to acquire Nuclear Logistics, which the company expects to be accretive to earnings to fiscal-year 2013 by 20-25 cents per share. AZZ Inc, with a market cap of $675 million, is an electrical equipment and components manufacturer serving the global growth markets of power generation, transmission and distribution, and industrial markets as well as a provider of hot dip galvanizing services to the steel fabrication market nationwide.

azz_700_01

TrendSpotter: Buy
Short-Term Indicators: 100% Buy
Medium-Term Indicators: 75% Buy
Long-Term Indicators: 100% Buy
Overall Average 96% Buy

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

Wednesday, May 30, 2012

RDI and KONG buy signals

This morning I added Reading International (RDI) and Kongzhong (KONG) to the Barchart Van Meerten Speculative model portfolio:

Reading International (RDI)

Barchart technical indicators:

100% Barchart technical buy signal
Trend spotter buy signal
Above its 20, 50 and 100 day moving averages
11 new highs and up 16.85% in the last month
Relative Strength Index 72.67%
Barchart computes a technical support level at 5.69
Recently traded at 5.79 with a 50 day moving average of 5.01

Kongzhong (KONG)

Barchart technical indicators:

96% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
11 new highs and up 19.95% in the last month
Relative Strength Index 72.36%
Barchart computes a technical support level at 6.80
Recently traded at 6.95 with a 50 day moving average of 5.84

WMT,TASR,SWIR added to model portfolio

This morning I added to following stocks to the Barchart Van Meerten New High model portfolio: Wal-Mart Stores (WMT), Taser International (TASR) and Sierra Wireless (SWIR).

Wal-Mart Stores (WMT)

Barchart 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 11.88% in the last month
Relative Strength Index 79.76%
Barchart computes a technical support level at 65.00
Recently traded at 65.83 with a 50 day moving average of 60.75

Taser International (TASR)

Barchart technical indicators:

80% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving average
13 new highs and up 16.95% in the last month
Relative Strength Index 71.65%
Barchart computes a technical support level at 5.27
Recently traded at 5.38 with a 50 day moving average of 4.62

Sierra Wireless (SWIR)

Barchart technical indicators:

80% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
12 new highs and up 29.22% in the last month
Relative Strength Index 83.94%
Barchart computes a technical support level at 8.34
Recently traded at 8.78 with a 50 day moving average of 7.59

Barchart Moring Call 5/30

Barchart Morning Call

Wed, 30 May 2012 07:00:00 -0500

Overnight Developments

June E-mini S&Ps this morning are trading -7.25 points (-0.54%) on the 1.40% sell-off in European stocks and on today's jump in Spanish and Italian bond yields. The commodity sector this morning is trading with an average loss of -0.64%. Crude oil is down 1.33%, copper is down 1.39%, and agricultural commodities are trading mostly lower, although gold is mildly higher by +0.28%. The dollar index is mildly higher by +0.10 points (+0.12%) and EUR/USD is down -0.52 cents (-0.42%) on the rise in Spanish and Italian bond yields. June 10-year T-notes are up 9.5 ticks this morning.
European stocks this morning are sharply lower with the Euro Stoxx 50 index down 1.40% due to the jump in Italian and Spanish bond yields and today's poor Eurozone confidence reports. The Spanish stock market is down -2.58% and the Italian stock market is down -2.00%. Asian stocks closed lower across the board today: Japan -0.28%, Hong Kong -1.92%, China -0.32%, Taiwan -1.10%, Australia -0.49%, Singapore -0.64%, South Korea -0.24%, India -0.77%, Turkey -0.92%.
Italy today sold 5.73 billion euros of 5-year and 10-year bonds, which was less than the maximum target of 6.25 billion euros. The 10-year debt was sold at 6.03% and the 5-year debt was sold at 5.66%. The 10-year Italian bond yield today soared by 24 bp to 6.01%.
Spain's 10-year bond yield today rose by 24 bp to 6.68%, the highest since late November. The price of 5-year Spanish credit default swaps (the price of insuring against a sovereign default) today rose by 22 bp to a new record high of 583 bp. Market worries are growing about whether Spain will be able to recapitalize its troubled banking system without a Eurozone bailout.
The Eurozone May economic confidence index, measuring business and consumer confidence, fell by 2.3 points to 90.6 from a revised 92.9 in April, which was a 2-1/2 year low and weaker than the consensus of 91.9.
Eurozone April M3 growth fell to +2.5% y/y from a revised +3.1% y/y in March, which was weaker than market expectations of +3.4% and indicated slow money demand.
The European markets are on edge ahead of Thursday's voter referendum in Ireland about whether to approve the terms of the European fiscal pact, which is effectively a constitutional balanced budget requirement. The polls currently indicate that Irish voters will approve the fiscal pact, which would provide some good news for the European debt crisis. Ireland would not be able to receive a second round of bailout funds, if that becomes necessary when the first round runs out, unless it approves the fiscal pact.
The European Commission today called for the European Stability Mechanism (ESM) to be allowed to provide direct aid for European banks that need to be recapitalized, which would be a big help for resolving the European debt crisis but has been opposed by some Eurozone countries such as Germany. Under current rules, the ESM (when it becomes operational in July) can only provide aid to national governments, which in turn can use the funds to recapitalize their banking sectors.

Israeli Defense Minister Ehud Barak today said that the clock is "ticking faster" for Iran and for the U.S. He added, "The metaphorical sword is at our neck." Mr. Barak, together with Israeli Prime Minister Netanyahu, are the two main hawks in Israel and hold a large amount of power on if and when to attack Israel's nuclear facilities, although an attack is not believed to be imminent while the world powers are negotiating with Iran. The third round of talks with Iran is scheduled for June 18-19 in Moscow.
Market Comments

June E-mini S&Ps this morning are down -7.25 points (-0.54%) on the worsening European debt crisis situation and today's declines in the European confidence indexes. U.S. stocks on Tuesday closed moderately higher: S&P 500 +1.11%, Dow Jones +1.01%, Nasdaq 100 +1.26%. Bullish factors on Tuesday centered on (1) short-covering after the recent sharp decline, (2) expectations for additional growth measures from China, and (3) and weekend news that the Greek pro-bailout party New Democracy party is now ahead in the polls, reducing the chances that Radical Left Syriza will win the June 17 election and force a show-down with the Eurozone over its bailout package and end up forcing Greece to leave the Eurozone. Bearish factors included (1) worries about the Spanish banking system with the government's confusion over how it plans to fund the 19 billion bailout of Bankia, Spain's third largest bank, (2) the unexpected 3.8 point decline in the U.S. consumer confidence index from the Conference Board to a 4-month low of 64.9, (3) the smaller-than-expected +0.09% rise in the April Case-Shiller Composite-20 home price index, although that was the first back-to-back gain in two years.
June 10-year T-notes this morning are up 9.5 ticks as flight-to-quality continues with today's sharp rise in Italian and Spanish bond yields. T-note prices on Tuesday closed slight lower: TYM2 -3, FVM2 -2.25. T-note prices were undercut by the rally in U.S. stocks and the +0.58% close in the Euro Stoxx 50 on Tuesday. Still, there is a firm safe-haven bid tied to worries that Spain will eventually need a Eurozone bailout in order to cover banking system losses and deficits at the state/regional level.
The dollar index this morning is mildly higher by +0.10 points (+0.12%) as capital flight from Europe continues. EUR/USD is down -0.0052 (-0.42%) and USD/JPY is down -0.40 yen (-0.50%). The dollar index on Tuesday closed slightly higher after edging to a new 1-2/3 year high: Dollar Index +0.07 (+0.09%), EUR/USD -0.0038 (-0.30%), USD/JPY +0.02 (+0.03%). The dollar index saw a little strength as EUR/USD posted a new 1-3/4 year low. There was good news for Europe from the polls showing pro-bailout New Democracy gained support. However, the market remains very worried about Spain, which has flip-flopped on how to finance the 19 billion euro Bankia bailout. Spain on Monday said it would effectively give Bankia an IOU from the government to fund its gap, but that brought significant criticism and Spanish officials backtracked to say that their preferred method is to use cash raised in the bond markets. The government's attempt to use an IOU to back Bankia suggests that the Spanish government is losing confidence in its ability to raise cash in the debt markets, where the 10-year Spanish yield on Monday rose sharply by 16 bp to 6.45%.
July WTI crude oil prices this morning are down $1.21 (-1.33%) and July gasoline is down 2.63 (-0.93%) on (1) concerns about global economic growth with the worsening European situation, and (2) expectations for another rise in Thursday's DOE crude oil inventory report to a new 21-3/4 year high. July crude oil and gasoline prices on Tuesday closed mixed: CLN12 -0.05 (-0.06%), RBN2 +0.0108 (+0.38%). July crude oil prices closed slightly lower after consolidating near the bottom of the recent $15 per barrel plunge. Crude oil was undercut by the higher dollar but saw some support from (1) the rally in stocks, (2) expectations for additional Chinese growth measures, and (3) reports that Iran is becoming more intransigent in its attitude towards the nuclear talks, which raises the chances for a military attack down the road. Gasoline prices were boosted by reports that Petroplus's Coryton refinery in the U.K. (175,000 bpd capacity) may have to close due to the insolvency of its owner and the lack of a buyer, which would reduce European shipments of gasoline to the U.S.

For the full subscription version of this daily report (plus a 13-page big-picture weekly report), along with the earliest possible delivery in the morning, please visit http://www.barchart.com/register/crbfms_usmc.php
Today's U.S. Earnings Reports Earnings reports (sorted by mkt cap): CZZ-cosan (consensus $0.13), TFM-Fresh Market (0.35), BAH-Booz Allen (0.40).
Global Financial Calendar

Wednesday 5/30/12
United States
0700 ET	Weekly MBA mortgage applications, previous +3.8%, purchase sub-index -3.0%, refi sub-index +5.6%..
1000 ET	Apr pending home sales expected unch m/m and +22.0% y/y, Mar +4.1% m/m and +10.8% y/y.
1330 ET	Fed's Dudley speaks on regional economy in NY.
1630 ET	Fed's Rosengren speaks in Worcester, MA.
Euro-Zone
0400 ET	Eurozone Apr M3 expected +3.4% y/y and +3.1% 3mo avg, Apr +3.2% y/y and +2.8% 3mo avg.
0500 ET	Eurozone May consumer confidence expected -19.3, last -19.3. May economic confidence expected 91.9, last 92.8. May industrial confidence expected -10.2, last -9. May services confidence expected -2.8, last -2.4.
Germany
n/a	German Apr retail sales, Mar 1.6% m/m and +2.3% y/y.
United Kingdom
0430 ET	UK Apr new consumer credit expected +0.2 bln pounds, Mar +0.4 bln pounds. May net lending secured on dwellings expected 1.0 bln pounds, Mar +1.0 bln pounds.
0430 ET	UK Apr mortgage approvals, Mar 49,900.
0430 ET	UK Apr M4 money supply, Mar -0.8% m/m and -5.0% y/y.
1901 ET	UK May GfK consumer confidence survey expected -32, Apr -31.
Japan
1950 ET	Japan Apr industrial production expected +0.5% m/m and +13.7% y/y, Mar +1.3% m/m and +14.2% y/y.
2130 ET	Japan Apr labor cash earnings expected +1.1% y/y, Mar +1.3% y/y.

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

Bed, Bath and Beyond - BBBY - Barchart's Chart of the Day

Barchart.com's Chart of the Day - Bed Bath & Beyond (BBBY) for May 30, 2012

To access recent archived Chart of the Day reports, please go to:
http://www.barchart.com/headlines/search.php?feed=BC&series=COD

The "Chart of the Day" is Bed Bath & Beyond (BBBY), which showed up on Tuesday's Barchart "All-Time High" list. Bed Bath & Beyond on Tuesday posted a new record high of $74.67 and closed up 2.10%. TrendSpotter has been long since May 11 at $71.55. Bed Bath & Beyond was last featured by "Chart of the Day" as of the close on Nov 8, 2011 of $63.44. In recent news on the stock, Argus on May 17 reiterated its Buy rating on BBBY and maintained its $80 target, saying it is positive about the company's acquisition of Cost Plus because the deal will enable BBBY to add some excitement to its stores with new merchandise. Credit Suisse on May 11 upgraded BBBY to Outperform from Neutral and raised its target to $91 from $75 because the Cost Plus acquisition adds growth, improves selection, and reduces sourcing costs. Bed Bath & Beyond, with a market cap of $17 billion, is a nationwide operator of superstores selling predominantly better quality domestics merchandise and home furnishings typically found in better department stores.

bbby_700

TrendSpotter: Buy
Short-Term Indicators: 100% Buy
Medium-Term Indicators: 100% Buy
Long-Term Indicators: 100% Buy
Overall Average 100% Buy

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

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Tuesday, May 29, 2012

Facebook below 30

How low do you think Facebook (FB) can go? It has broken the $30 mark.

3 Mid Caps with momentum

This morning I used Barchart to screen the Mid Cap S&P 400 Index stocks to find 3 with good positive momentum and found Aqua American (WTR), NVR (NVR) and Hawaiian Electric (HE)

Aqua American (WTR)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
6 new highs and up 2.91% in the last month
Relative Strength Index 63.64%
Barchart computes a technical support level at 22.88
Recently traded at 23.02 with a 50 day moving average of 22.28

NVR (NVR)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
6 new highs and up 7.43% in the last month
Relative Strength Index 62.29%
Barchart computes a technical support level at 806.20
Recently traded at 832.53 with a 50 day moving average of 769.58

Hawaiian Electric (HE)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
5 new highs and up 3.26% in the last month
Relative Strength Index 66.57%
Barchart computes a technical support level at 26.81
Recently traded at 27.20 with a 50 day moving average of 25.90

Sherwin-Williams - SHW - Barchart's Chart of the Day

Barchart.coms Chart of the Day - Sherwin-Williams (SHW)

Barchart Research Team - BC - Sat May 26, 9:49PM CDT

Related Stocks

SHW - Sherwin-Williams Company

Sym	Last	Chg	Pct
SHW	126.31	+0.98	+0.78%

The "Chart of the Day" is Sherwin-Williams (SHW), which showed up on Friday's Barchart "All-Time High" list. Sherwin-Williams on Friday posted a new all-time high of $126.43 and closed up 0.78%. TrendSpotter just turned long again last Thursday at $125.33. Sherwin-Williams was last featured by "Chart of the Day" as the close on Feb 14, 2012 of $99.80. In recent new on the stock, Sherwin-Williams on April 19 reported Q1 EPS of 95 cents, well above the consensus of 82 cents. BofA/Merrill on April 2 downgraded Sherwin-Williams to Neutral from Buy on higher input costs and valuation but nevertheless raised its target to $115 from $105. In a more prescient move, Nomura on March 12 added Sherwin-Williams to its Conviction Buy list with a target of $137. Sherwin-Williams, with a market cap of $13 billion, is one of the world's largest producers of paint, coatings and related products.

shw_700_04

TrendSpotter: Buy
Short-Term Indicators: 100% Buy
Medium-Term Indicators: 100% Buy
Long-Term Indicators: 100% Buy
Overall Average 100% Buy

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

Barchart's Morning Call 5/29

Barchart Morning Call

Tue, 29 May 2012 07:00:00 -0500

Overnight Developments

June E-mini S&Ps this morning are up 8.25 points (+0.63%) on reduced fears for Greek turmoil as the pro-bailout Greek party New Democracy was ahead in 6 different voter polls released over the weekend. The market is shaking off concerns about the Spanish government's 19 billion euro bailout of Bankia and the government's uncertainty about how it plans to fund that bailout. The Spanish government continues to claim that it needs no bailout and can cover banking losses and regional deficits its own. Commodity prices are mostly higher this morning. Gold is mildly higher by +0.22%, copper is up +0.68%, crude oil is up +0.43%, and grains are mixed. The dollar index is down -0.21% while EUR/USD is slightly lower by -0.04%. T-notes are up 5.5 ticks.
European stocks are slightly higher this morning by +0.12% following Monday's loss of -0.65%. However, Spanish stocks are down 2.16% this morning and Italian stocks are down -0.43%. Asian stocks today closed higher across the board: Japan +0.74%, Hong Kong +1.35%, China +1.38%, Taiwan +2.89%, Australia +1.14%, Singapore +0.52%, South Korea +1.51%, India +0.13%, Turkey +1.13%.
In Greece, six polls released over the weekend showed that the New Democracy party is now in first place, which is an improvement over some recent polls showing the anti-bailout Syriza party in the lead. The two main Greek political parties, New Democracy and Pasok, together fell only 2 seats short of forming a majority in parliament in the last election on May 6. If they can improve their seat count in the June 17 elections by at least two seats, then they could from a government that upholds the main tenets of the bailout agreement and keeps Greece in the Eurozone.
Spain's 10-year bond yield today is little changed at 6.471% after rising by 17 bp to a 5-month high of 6.479% on Monday due to the Bankia situation. That is just 23 bp below the peak of 6.70% posted on November 25, 2011. The Spanish government last Friday announced that Bankia, Spain's third largest bank, would be given a 19 billion euro bailout by the Spanish government. The Spanish government then announced that it may fund the bailout with an IOU from the government rather than cash, leading to worries that the government does not believe it can raise the money in the debt markets. However, a spokesman for the Spanish economy ministry today said that the nation's preferred option for raising the Bankia bailout funds is through the debt markets.
ECB Council member Ewald Nowotny said today that the ECB is not considering restarting its bond-purchase program, disappointing Spanish Prime Minister Rajoy who last week called for the ECB to buy Spanish bonds after the recent surge in yields.
China's Xinhua News Agency reported today that the Chinese government has no intention of introducing a large-scale stimulus program. The Chinese finance ministry today announced subsidies for energy-saving products that the government says could spur consumption of of more than 135 billion yuan ($21 billion).

Italy today successfully sold 8.5 billion euros of 183-day bills at 2.104%, which was up by 33 bp from 1.772% at the last sale on April 26. The bid cover ratio was 1.61 times, down from 1.71 times at the last sale.
Market Comments

June E-mini S&Ps this morning are up +8.25 points (+0.63%) on the improved position of the pro-bailout New Democracy party in the polls and on slightly higher European stocks today (+0.12%). U.S. stocks on Friday closed mildly lower: S&P 500 -0.22%, Dow Jones -0.60%, Nasdaq 100 -0.17%. The stock market on Friday received some support from the news that the final-May U.S. consumer confidence index from the University of Michigan was revised upward to a +2.9 point gain to a 4-1/2 year high. The S&P 500 index last week consolidated above the 4-month low posted on May 18. The stock market basically has to wait for the June 17 Greek election to better gauge the risk of Greece leaving the Eurozone. The market was encouraged by reports Friday that German Chancellor Merkel will consider a plan for a Eurozone bond redemption fund that would help to pay down debt in troubled Eurozone countries.
June 10-year T-notes this morning are up 5.5 ticks as concern continues about whether Spain will need a bailout. T-note prices on Friday closed higher: TYM2 +7, FVM2 +0.75. June 10-year T-note prices last week consolidated near the recent record high on continued safe-haven demand tied to the European debt crisis and on concern about slowing economic growth in China and Europe.
The dollar index this morning is mildly lower by 0.176 points (0.21%) due to the higher trade in June E-mini S&Ps. EUR/USD is down -0.0005 while USD/JPY is up 0.05 yen. The dollar index on Friday posted another new 1-2/3 year high and closed slightly higher: Dollar Index +0.06 (+0.06%), EUR/USD -0.0015 (-0.11%), USD/JPY +0.08 (+0.10%). The dollar broke out to a new 1-2/3 year high last week as global portfolio managers dumped European stocks, fixed-income securities, and euros on the likelihood of a showdown between Greek and Eurozone officials after the June 17 election that could deteriorate into Greece's exit from the Eurozone. In addition, 3-month Euribor futures yields have fallen sharply across the futures curve and are mostly trading below 3-month Eurodollar futures yields, giving the dollar an interest rate differential advantage against the euro.
July WTI crude oil prices this morning are up 0.39 (+0.43%) and July gasoline is up 1.02 (0.36%) on the lower dollar and some general commodity recovery strength. July crude oil and gasoline prices last Friday closed mildly higher: CLN12 +0.20 (+0.22%), RBN2 +0.0124 (+0.44%). The downward pressure on commodity prices in general eased up later last week as some short-covering emerged. July crude oil prices hit a 6-1/2 month low last Wednesday and moved just slightly higher on Thursday and Friday. Oil prices remain under pressure from the unrelenting rise in U.S. crude oil inventories, the ability of OPEC so far to offset falling Iranian oil production and exports as the July 1 European oil embargo approaches, and the prospects for drawn out talks with the Iranians over their nuclear program that delays any military action into next year.

For the full subscription version of this daily report (plus a 13-page big-picture weekly report), along with the earliest possible delivery in the morning, please visit http://www.barchart.com/register/crbfms_usmc.php
Today's U.S. Earnings Reports Earnings reports (sorted by mkt cap): SAFM-Sanderson Farms (consensus $0.90), DRYS-Dryships (-0.05).
Global Financial Calendar

Tuesday 5/29/12
United States
0745 ET	ICSC (Int'l Council of Shopping Centers) weekly retailer sales.
0855 ET	Redbook weekly retailer sales.
0900 ET	Mar S&P-Case-Shiller Composite 20 U.S. home price index expected +0.2% m/m and -2.55% y/y, Apr +0.15% m/m and -3.49% y/y.
1000 ET	May U.S. consumer confidence (Conference Board) expected +0.3 to 69.5, Apr -0.3 to 69.2.
1030 ET	May Dallas Fed manufacturing activity expected 1.5, Apr -3.4.
1100 ET	USDA weekly grain export inspections.
1130 ET	Weekly T-bill auctions.
1600 ET	USDA Crop Progress
1630 ET	API weekly U.S. oil statistics.
Japan
0100 ET	Japan May small business confidence, Apr 47.6.
1915 ET	Japan May Markit/JMMA manufacturing PMI, Apr 50.7.
Germany
0200 ET	German Apr import prices expected -0.3% m/m and +2.6% y/y, Mar +0.7% m/m and +3.1% y/y.
0400 ET	German state May CPI reports. Apr Saxony +0.1% m/m and +2.0% y/y. Apr Brandenburg +0.2% m/m and +2.1% y/y. Apr Hesse +0.2% m/m and +1.9% y/y.
0600 ET	Bavaria May CPI, Apr +0.3% m/m and +2.2% y/y.
0800 ET	German May CPI expected -0.1% m/m and +2.1% y/y, Apr +0.2% m/m and +2.1% y/y. German May EU harmonized CPI expected unchanged m/m and +2.2% y/y, Apr +0.1% m/m and +2.2% y/y.
United Kingdom
0600 ET	UK May CBI reported sales expected -8, Apr -6.

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

Monday, May 28, 2012

3 Large Caps for your watchlists

This morning I used Barchart to screen the Large Cap S&P 500 index stocks to find 3 with upward momentum and found Wal-Mart Stores (WMT), Sherwin-Williams (SHW) and Hormel Foods (HRL)

Wal-Mart Stores (WMT)

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 13..86% in the last month
Relative Strength Index 78.02%
Barchart computes a technical support level at 64.50
Recently traded at 35.31 with a 50 day moving average of 60.55

Sherwin-Williams (SHW)

Barchart technical indicators:

100% Barchart technical buy signal
Trend spotter buy signal
Above its 20, 50 and 100 day moving averages
9 new highs and up 5.00% in the last month
Relative Strength Index 69.16%
Barchart computes a technical support level at 123.88
Recently traded at 126.31 with a 50 day moving average of 116.08

Hormel Foods (HRL)

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 5.68% in the last month
Relative Strength Index 69.99%
Barchart computes a technical support level at 29.47
Recently traded at 30.15 with a 50 day moving average of 29.00

DVD and BSET deleted

Today I deleted Dover Downs Entertainment (DVD) and Bassett Furniture International (BSET) from the Barchart Van Meerten Speculative portfolio for negative price momentum

Dover Downs Entertainment (DVD)

Barchart technical indicators:

72% Barchart technical sell signal
Trend Spotter sell signal
Below its 20, 50 and 100 day moving averages
39.53% off its 1 year high
Relative Strength Index 34.87%

Bassett Furniture International (BSET)

Barchart technical indicators:

Barchart technical sell signals
Trend Spotter sell signal
Below its 20 and 50 day moving averages
13.19% off its 1 year high
Relative Strength Index 36.57%