Thursday, March 8, 2012

3 NASDAQ 100 stocks on the move up

Today I used Barchart to screen the NASDAQ 100 stock to find those with the most steady upward price momentum and found Priceline.com (PCLN), Costco Wholesale (COST) and O'Reilly Automotive (ORLY).

Priceline.com (PCLN)


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 21.46% in the last month
  • Relative Strength Index 77.12%
  • Barchart computes a technical support level at 654.27
  • Recently traded at 654.37 with a 50 day moving average of 543.96
Costco Wholesale (COST)




Barchart technical indicators:
  • 88% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 12 new highs and up 4.89% in the last month
  • Relative Strength Index 75.28%
  • Barchart computes a technical support level at 87.59
  • Recently traded at 88.45 with a 50 day moving average of 83.64
O'Reilly Automotive (ORLY)


Barchart technical indicators:

  • 96% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above it's 20, 50 and 100 day moving averages
  • 12 new highs and up 8.13% in the last month
  • Relative Strength Index 72.04%
  • Barchart computes a technical support level at 89.40
  • Recently traded at 90.28 with a 50 day moving average of 83.50




Jarden - JAH

Today I added Jarden (JAH) to the Barchart Van Meerten New High portfolio for very steady upward price momentum:


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 12.00% in the last month
  • Relative Strength Index 85.51%
  • Barchart computes a technical support level at 36.99
  • Recently traded at 38.15 with a 50 day moving average of 33.24

Barchart Morning Call 3/8

Barchart Morning Call
Overnight Developments
  • Global stocks this morning are higher with the Euro Stoxx 50 up +1.27% and Mar S&Ps up +11.90 points. Treasuries, bunds and the dollar weakened as stocks and commodities rose on speculation Greece will attract enough investors to make its debt-swap plan a success. The yield on the Italian 10-year bond fell to a 9-month low of 4.75% as investors with about 60% of the Greek bonds eligible for the nation's debt swap indicated a willingness to participate. Another positive for stocks and commodities was the strength in Jan German industrial production which rose +1.6% m/m and +1.8% y/y, stronger than expectations of +1.1% m/m and +1.1% y/y. On the negative side, the Feb Bank of France business sentiment unexpectedly fell -1 point to 95 and matched its lowest level in 2-1/2 years. As expected, the BOE maintained its benchmark rate at 0.50% and kept its asset purchase target at 325 billion pounds.
  • Asian stocks today closed higher with Japan up +2.01%, China +1.26%, Australia +0.66%, South Korea +0.96%, India closed for holiday. Asian stocks closed higher after Japan's economy contracted less than originally estimated and as Greece moved closer to completing its debt swap. The yen weakened against the dollar and boosted Japanese exporters after the Jan Japan current-account deficit was reported at -437.3 billion yen, wider than expectations of a -320 billion-yen deficit and the biggest shortfall since data began in 1985. Higher-than-estimated capital spending was responsible for an upward revision of Q4 Japan GDP to -0.2% q/q and -0.7% y/y from the originally reported -0.6% q/q and -2.3% y/y. Chinese stocks finished higher on speculation the government will increase efforts to stimulate the economy even after Standard & Poor's warned that Chinese home prices may fall 10% by June from a year earlier and that property developers face more credit rating downgrades over the next 6 months as refinancing risks increase.
Overnight U.S. Stock News
  • March S&Ps this morning are trading up +11.90 points. The U.S. stock market Wednesday rallied after a private report showed U.S. companies increased hiring last month along with reduced Greek default concerns as more investors signed on to a Greek debt swap deal: Dow Jones +0.61%, S&P 500 +0.69%, Nasdaq Composite +0.87%. Bullish factors Wednesday included (1) optimism that the U.S. labor market will continue to strengthen after the Feb ADP employment change rose +216,000, slightly above expectations of +215,000 and after December's ADP increase was revised up to +173,000 from the originally reported +170,000, (2) reduced Greek default concerns after investors with 58% of the Greek bonds eligible for the debt-swap program indicated they'll agree to terms of the bond exchange, and (3) the larger-than-expected increase in Jan U.S. consumer credit (+$17.776 billion, larger than expectations of +$10.800 billion).
  • Bearish factors Wednesday centered on global economic concerns after (1) Q4 Australian GDP rose +0.4% q/q, weaker than expectations of +0.8% q/q, (2) Jan German factory orders unexpectedly fell -2.7% m/m, weaker than expectations of a +0.6% m/m increase, and (3) after Chinese Commerce Minister Chen Deming said China's exports rose about 7% over the first two months of this year, which signals Feb China exports, to be released on Mar 10, will be less than the +32% y/y gain expected.
Today's Market Focus
  • June 10-year T-notes this morning are down -5.5 ticks. T-note prices Wednesday settled lower as an increase in private hiring in the Feb ADP employment change bolstered optimism in the U.S. economic outlook and reduced the safe-haven demand for Treasuries: TYM2 -6.5, FVM2 -5.0, EDU2 +0.5. Bearish factors Wednesday included (1) the +216,000 gain in the Feb ADP employment change, slightly above expectations of +215,000 and as December's ADP increase was revised up to +173,000 from the originally reported +170,000, and (2) decreased safe-haven demand for Treasuries after the stock market rallied on expectations Greece will be able to complete its debt swap as more investors of Greek debt signed on to the offer. Bullish factors included (1) the Fed's purchase of $1.969 billion of Treasuries as part of its Operation Twist program to replace $400 billion of short-term debt in its portfolio with longer-term Treasuries in an effort to keep borrowing costs low and (2) global economic concerns after Jan German factory orders unexpectedly declined and after Q4 Australian GDP expanded less than expected.
  • The dollar index this morning is lower with the dollar/yen +0.61 yen and the euro/dollar +1.14 cents. The dollar index Wednesday fell back from a 2-1/2 week high and settled lower on reduced safe-haven demand as stocks and EUR/USD rallied as more investors decided to accept the terms of the Greek debt-swap program: Dollar Index -0.154, USD/JPY +0.194, EUR/USD +0.00366. Bearish factors included (1) strength in EUR/USD after investors with 58% of the Greek bonds eligible for the debt-swap program indicated they'll agree to terms of the bond exchange, (2) reduced safe-haven demand for the dollar as stocks rallied, and (3) reduced dollar funding costs for European banks after the 3-month cross-currency basis swap, the rate banks pay to convert euro interest payments into dollars, fell to 65.5 bp below the euro interbank offered rate, a 7-month low. Bullish factors included (1) the unexpected decline in Jan German factory orders, which is euro negative and (2) concerns over a global economic slowdown, which boosts the safe-haven demand for the dollar, after Q4 Australian GDP rose +0.4% q/q, weaker than expectations of +0.8% q/q, and after Chinese Commerce Minister Chen Deming said China's exports rose about 7% over the first two months of this year, which signals Feb China exports, to be released on Mar 10, will be less than the +32% y/y gain expected.
  • Apr crude oil prices this morning are up +83 cents a barrel and Apr gasoline is +2.88 cents per gallon. Crude oil and gasoline prices Wednesday rebounded from early losses and settled higher as an increase in Greece's debt-swap program reduced Greek default concerns and boosted equities and optimism in the economic outlook and energy demand: CLJ12 +$1.46, RBJ +5.75. Apr crude posted a 2-week low but shed its losses and finished higher. Bullish factors included (1) the reversal in the dollar after the dollar index posted a 2-1/2 week high but erased its advance and closed lower, which boosts investment demand in commodities, (2) reduced concern that Greece will default and throw the global economy into chaos after more investors signed on to its debt-swap program, and (3) the strong Feb ADP employment change, which bodes well for continued economic growth and increased fuel demand. Bearish factors included (1) the smaller-than-expected decline in weekly DOE gasoline supplies (-396,000 bbl versus expectations of -1.75 million bbl), (2) the increase in weekly DOE crude stockpiles to a 5-3/4 month high (+832,000 bbl to 345.7 million bbl), and (3) concern that a slowdown in the global economy will reduce energy demand after Jan German factory orders unexpectedly declined and after Q4 Australian GDP rose less than expected.
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): ULTA-Ulta Salon Cosmetics & Fragrance (BEST earnings consensus $0.67), WSM-Williams-Sonoma (1.13), COO-Cooper Cos. (1.04), SFD-Smithfield Foods (0.65), FMCN-Focus Media Holding Ltd. (0.62), RENN-Renren (0.00), JW/A-John Wiley & Son. (0.94), NAV-Navistar International (-0.27), BKE-Buckle (1.15), ARO-Aeropostale (0.38), HMIN-Home Inns & Hotels Management (0.27), AREX-Approach Resources (0.22), ZUMZ-Zumiez (0.59), WX-WuXi PharmaTech Cayman (0.28), IILG-Interval Leisure Group (0.10).
Global Financial Calendar
Thursday 3/8/12
United States
0730 ET Feb Challenger job cuts, Jan +38.9% y/y.
0830 ET Weekly initial unemployment claims expected unchanged at 351,000, previous -2,000 to 351,000. Weekly continuing claims expected -2,000 to 3.400 million, previous -2,000 to 3.402 million.
1100 ET Treasury announces amounts of 3-year T-notes (previous $32 billion), 10-year T-notes (previous $24 billion) and 30-year T-bonds (previous $16 billion) to be auctioned Mar 12-14.
1630 ET Weekly money supply report and Fed balance sheet.
Japan
0000 ET Feb Japan eco watchers survey current expected +1.9 to 46.0, Jan -2.9 to 44.1. Feb eco watchers survey outlook, Jan +2.7 to 47.1.
0100 ET Feb Japan machine tool orders, Jan -6.9% y/y.
France
0130 ET Revised Q1 French payrolls expected no change at -0.2% q/q.
0230 ET Feb Bank of France business sentiment expected unchanged at 96, Jan unchanged at 96.
0245 ET Jan French trade balance expected -5.150 billion euros, Dec -4.993 billion euros.
Germany
0600 ET Jan German industrial production expected +1.1% m/m and +1.1% y/y, Dec -2.9% m/m and +0.9% y/y.
United Kingdom
0700 ET BOE announces interest rate decision (expected no change to the 0.50% benchmark rate) and asset purchase target (expected no change at 325 billion pounds).
Euro-Zone
0745 ET ECB announces interest rate decision (expected no change to the 1.00% 2-week refinancing rate).
0830 ET ECB President Mario Draghi speaks at monthly press conference.
Canada
0815 ET Feb Canada housing starts expected +200,000, Jan +198,000.
0830 ET Jan Canada new housing price index expected +0.1% m/m and +2.5% y/y, Dec +0.1% m/m and +2.5% y/y.
0900 ET BOC announces interest rate decision (expected no change to the 1.00% benchmark rate).
CHI
2030 ET Feb China CPI expected +3.4% y/y, Jan +4.5% y/y.
2030 ET Feb China PPI expected +0.1% y/y, Jan +0.7% y/y.

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

Allergan - AGN - Barchart Chart of the Day

Wednesday, March 7, 2012

3 Small Cap S&P 600 stocks on the move up

Today I used Barchart to screen the Small Cap S&P 600 stock to find some with steady upward momentum and found Men's Wearhouse (MW), Heartland Payment Systems (HPY), and RUE21 (RUE).

Men's Wearhouse (MW)


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 7.87% in the last month
  • Relative Strength Index 68.99%
  • Barchart computes a technical support level at 38.99
  • Recently traded at 40.18 with a 50 day moving average of 35.96
Heartland Payment Systems (HPY)


Barchart technical indicators:
  • 48% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 12 new highs and up 15.03% in the last month
  • Relative Strength Index 59.94%
  • Barchart computes a technical support level at 28.00
  • Recently traded at 28.47 with a 50 day moving average of 25.88
RUE21 - (RUE)


Barchart technical indicators:
  • 16% Barchart technical buy signal
  • Trend Spotter buy signal
  • Although below its 20 day moving average it's above it's 50 & 100 day moving averages
  • 11 new highs and up .31% in the last month
  • Relative Strength Index 50.87%
  • Barchart computes a technical support level at 25.40
  • Recent;y traded at 26.12 with a 50 day moving average of 24.58







Barchart Morning Call 3/7

Barchart Morning Call
Overnight Developments
  • Global stocks this morning are mixed with the Euro Stoxx 50 up +0.10% and Mar S&Ps up +5.90 points. Treasuries weakened as the euro and commodities rose amid speculation private investors will accept terms of a Greek bond exchange needed for it to receive a second bailout package. Greece's six largest banks said they plan to accept the offer, according to the Greek Finance Ministry, while Societe Generale SA, France's second-biggest bank, Assicurazioni Generali SpA and UniCredit SpA joined other lenders saying they will participate in Greece's debt swap. The Greek government, which set a 75% participation rate as a threshold for proceeding with the transaction, said it will use collective action clauses to force holders of Greek-law bonds to accept the swap if it receives sufficient consent from investors. Another bullish factor for stocks and the euro is the decline in dollar finding costs for European banks after the 3-month cross-currency basis swap, the rate banks pay to convert euro interest payments into dollars, declined to 65.5 bp below the euro interbank offered rate, a 7-month low. Limiting gains in European stocks was the unexpected decline in Jan German factory orders which fell -2.7% m/m, weaker than expectations of a +0.6% m/m increase.
  • Asian stocks today closed lower with Japan down -0.64%, China -0.69%, Australia -1.45%, South Korea -0.95%, India -0.16%. Most Asian stock markets finished lower as financial stocks weakened on concern Greece's debt-swap deal were threatened by reluctant bond holders. Chinese stocks also fell after Commerce Minister Chen Deming said exports rose about 7% over the first two months of this year, which suggests that Feb China exports, to be released on Mar 10, will be less than the +32% y/y gain expected. Australian stocks tumbled and the Australian dollar slid to a 6-week low against the dollar after Q4 Australia GDP expanded +0.4% q/q, weaker than expectations of +0.8% q/q.
Overnight U.S. Stock News
  • March S&Ps this morning are trading up +5.90 points. The U.S. stock market Tuesday tumbled and settled lower for a third day on global growth concerns along with concern that Greece may not be able to finalize a voluntary debt-swap deal by Thursday's deadline: Dow Jones -1.57%, S&P 500 -1.54%, Nasdaq Composite -1.36%. The S&P 500 posted a 3-week low, the Dow slumped to a 1-month low while the Nasdaq slipped to a 1-week low. Bearish factors Tuesday included (1) global growth concerns after Q4 Euro-Zone GDP remained unrevised at -0.3% q/q and +0.7% y/y, (2) concern that Greece will struggle to complete a debt-swap by Thursday's deadline as only 20% of the private creditors have agreed to the voluntary debt swap, below the 75% participation rate the Greek government has set as a threshold for proceeding with the transaction, and (3) weakness in mining companies and raw material and energy producers as strength in the dollar along with demand concerns fueled a decline in the prices of most commodities.
  • Bullish factors included (1) positive comments from EU Commissioner for Economic and Monetary Affairs, Ollie Rehn, who said the Euro-Zone economy will likely be "turning the tide in the coming months," and (2) reduced liquidity concerns in Europe after the Euribor-OIS spread, a measure of European banks' reluctance to lend to one another that's measured as the difference between the borrowing benchmark and overnight indexed swaps, narrowed to a 7-month low of 59 bp.
  • Netflix (NFLX) rose 1.8% in European trading after CEO Hastings said the company is considering partnerships with cable operators to offer its service as part of their premium lineup.
Today's Market Focus
  • June 10-year T-notes this morning are down -4 ticks. T-note prices Tuesday traded in positive territory the entire day and settled higher as a slump in global equities spurred safe-haven demand for Treasuries along with concern that Greece may not be able to persuade creditors to agree to a debt-swap plan: TYM2 +17.5, FVM2 +8.0, EDU2 -0.5. Bullish factors Tuesday included (1) increased safe-haven demand for Treasuries after the S&P 500 slumped to a 3-week low, (2) a flight-to-quality into Treasuries on concern Greece will struggle to complete a debt-swap by Thursday's deadline, and (3) the Fed's purchase of $4.027 billion of Treasuries as part of its Operation Twist program to replace $400 billion of short-term debt in its portfolio with longer-term Treasuries in an effort to keep borrowing costs low. Bearish factors included (1) reduced safe-haven demand for Treasuries as liquidity concerns diminished in Europe after the Euribor-OIS spread, a measure of European banks' reluctance to lend to one another that's measured as the difference between the borrowing benchmark and overnight indexed swaps, narrowed to a 7-month low of 59 bp, and (2) reduced safe-haven demand for Treasuries after the EU Commissioner for Economic and Monetary Affairs, Ollie Rehn, said the Euro-Zone economy will likely be "turning the tide in the coming months" as the ECB's actions have prevented a credit crunch, and "significant steps" by Italy and Spain have improved confidence and reduced tensions on government bond markets.
  • The dollar index this morning is weaker with the dollar/yen -0.14 yen and the euro/dollar +0.22 cents. The dollar index Tuesday rallied to a 2-1/2 week high on increased safe-haven demand as the stock market slumped along with weakness in EUR/USD on concern Greece will struggle to complete a debt-swap by Thursday's deadline in order to receive a 130 billion-euro bailout: Dollar Index +0.540, USD/JPY -0.663, EUR/USD -0.01042. Bullish factors included (1) the fall in EUR/USD to a 2-1/2 week low on concern Greece will struggle to complete a debt-swap by Thursday's deadline as only 20% of the private creditors have agreed to the voluntary debt swap, below the 75% participation rate the Greek government has set as a threshold for proceeding with the transaction, (2) increased safe-haven demand for the dollar after the S&P 500 fell to a 3-week low, and (3) the increase in the ECB's balance sheet to a record 3.02 trillion euros, which increases inflation risks. Bearish factors included (1) euro positive comments from EU Commissioner for Economic and Monetary Affairs, Ollie Rehn, who said the Euro-Zone economy will likely be "turning the tide in the coming months" as the ECB's actions have prevented a credit crunch, and "significant steps" by Italy and Spain have improved confidence and reduced tensions on government bond markets, and (2) reduced dollar funding costs for European banks after the 3-month cross-currency basis swap, the rate banks pay to convert euro interest payments into dollars, fell to 67 bp below the euro interbank offered rate, a 7-month low.
  • Apr crude oil prices this morning are up +62 cents a barrel and Apr gasoline is +2.81 cents per gallon. Crude oil and gasoline prices Tuesday settled lower as the dollar rallied and after the EU offered to restart negotiations with Iran over its nuclear program: CLJ12 -$2.02, RBJ -2.81. Apr crude posted a 2-week low. Bearish factors included (1) the rally in the dollar index to a 2-1/2 week high, which discourages investment demand in commodities, (2) reduced geopolitical concerns after EU foreign policy chief Ashton said she urged Iran's nuclear envoy to meet her to seek an accord on its nuclear program, and (3) the slide in the S&P 500 to a 3-week low, which erodes confidence in the economic outlook and energy demand. Bullish factors included (1) optimistic comments from the EU Commissioner for Economic and Monetary Affairs, Ollie Rehn, who said the Euro-Zone economy will likely be "turning the tide in the coming months," which would be positive for energy demand and consumption and (2) the outlook for Wednesday's weekly DOE inventory report to show that gasoline supplies fell for a third week as refiners shut plants for maintenance. Expectations for Wednesday's weekly DOE inventory report are for crude oil supplies to increase +1.5 million bbl, gasoline stockpiles to fall -1.75 million bbl, distillate inventories to decline -1.65 million bbl and the refinery utilization rate to remain unchanged at 83.6% of capacity.
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): BF/B-Brown-Forman (BEST earnings consensus $1.01), PLL-Pall Corp. (0.74), HRB-H&R Block (0.07), AEO-American Eagle Outfitters (0.35), EXPR-Express (0.68), TFM-Fresh Market (0.37), MW-Men's Warehouse (-0.13), RLJ-RLJ Lodging Trust (0.18), SMTC-Semtech (0.31), CIEN-Ciena (-0.03), PLCE-Children's Place Retail Stores (0.90), PWRD-Perfect World Co. Ltd. (0.58), HTHT-China Lodging Group Ltd. (0.10), DK-Delek US Holdings (-0.17).
Global Financial Calendar
Wednesday 3/7/12
United States
0700 ET Weekly MBA mortgage applications, previous -0.3% with purchase mortgage sub-index+8.2% and refinancing sub-index -2.2%.
0815 ET Feb ADP employment change expected +215,000, Jan +170,000.
0830 ET Revised Q4 non-farm productivity expected +0.8%, previous +0.7%. Revised Q4 unit labor costs expected no change at +1.2%.
1500 ET Jan consumer credit expected +$10.8 billion, Dec +$19.308 billion.
Japan
0000 ET Jan Japan coincident index CI expected 93.4, Dec 93.6. Jan leading index CI expected 95.0, Dec 94.0.
1850 ET Revised Q4 Japan GDP expected -0.2% q/q and -0.6% y/y, previous -0.6% q/q and -2.3% y/y.
2330 ET Feb Japan bankruptcies, Jan-5.4% y/y.
Germany
0600 ET Jan German factory orders expected +0.6% m/m and -1.7% y/y, Dec +1.7% m/m and unchanged y/y.
Canada
0830 ET Jan Canada building permits expected -3.0% m/m, Dec +11.1% m/m.

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

Dick's Sporting Goods -- Barchart Chart of the Day

Barchart.coms Chart of the Day - Dicks Sporting Goods (DKS)
Related Stocks
DKS - Dick's Sporting Goods Inc
Sym Last Chg Pct
DKS 47.23 +0.34 +0.73%
The "Chart of the Day" is Dick's Sporting Goods (DKS), which showed up on Tuesday's Barchart "All Time High" list. Dick's on Tuesday posted a new all-time high of $47.42 and closed +2.90%. TrendSpotter has been Long since Jan 13 at $40.18. Dick's on Tuesday rallied on earnings news and its comment that it has the potential to open 400 more stores over the next several years. UBS on March 2 reiterated its Buy rating on Dick's and raised its target to $52 from $45. Dick's Sporting Goods, with a market cap of $5 billion, is a leading full-line sporting goods retailer in the United States.

dks_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: 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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Tuesday, March 6, 2012

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

Today I used Barchart to screen the Mid Cap S&P 400 stocks to find 3 having steady and positive price momentum and found Old Republic International (ORI) , Exelis (XKS) and Dick's Sporting Goods (DKS)

Old Republic International (ORI)


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 6.22% in the last month
  • Relative Strength Index 66.85%
  • Barchart computes a technical support level at 10.78
  • Recently traded at 10.92 with a 50 day moving average of 9.95
Exelis (XLS)


Barchart technical indicators:
  • Above its 20 and 50 day moving averages
  • 13 new highs and up 10.90% in the last month
  • Relative Strength Index 60.95%
  • Recently traded at 11.19 with a 50 day moving average of 9.97
Dick's Sporting Goods (DKS)


Barchart technical indicators:
  • 100% Barchart technical buy signal
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 10 new highs and up 9.74% in the last month
  • Relative Strength Index 80.78%
  • Barchart computes a technical support level at 43.75
  • Recently traded at 46.89 with a 50 day moving average of 41.36




Barchart Morning Call 3/2

Barchart Morning Call
Overnight Developments
  • Global stocks this morning are weaker with the Euro Stoxx 50 down -1.04% and Mar S&Ps down -11.60 points, both at 1-week lows. Stocks declined, Treasuries rose and the dollar index rallied to a 2-1/2 week high, which fueled a slide in commodities as gold fell to a 5-week low, on signs the global economy was slowing along with concern over how many of Greece's private creditors agree to write down their sovereign-debt holdings by this Thursday's deadline. If at least 75% of the private creditors agree to the voluntary debt swap, Greece will reduce its borrowings by 106 billion euros and lower its debt to 120.5% of GDP by 2020, but so far, only 20% of the investors in Greek debt have declared their participation in the restructuring. As expected, the revised Q4 Euro-Zone GDP remained unchanged at -0.3% q/q and +0.7% y/y, while the cost of insuring European sovereign bonds rose after the Markitt iTraxx SovX Western Europe Index of credit-default swaps on 15 governments rose 5 bp to 352 bp, a 1-1/2 month high. EU Commissioner for Economic and Monetary Affairs, Ollie Rehn, said the Euro-Zone economy will likely be "turning the tide in the coming months" as the ECB's actions have prevented a credit crunch and "significant steps" by Italy and Spain have improved confidence and reduced tensions on government bond markets.
  • Asian stocks today closed lower with Japan down -0.63%, China -1.56%, Australia -1.37%, South Korea -0.72%, India -1.09%. Asian stock markets fell to a 1-week lows on concern a slowdown in China's economy will lead to reduced demand for the region's goods and services. Japanese stocks fell as the yen strengthened which indercut exporters and as shipping companies and machinery makers declined on concern a shift in China's growth strategy away from investment and exports in favor of domestic consumption will reduce demand for Japanese goods. The Australian dollar fell to a 5-week low against the dollar after the RBA kept its benchmark rate at 4.25% as expected and kept its easing bias when it said in a statement that while current settings are "appropriate for the moment," there is scope for easier policy if demand weakens "materially."
Overnight U.S. Stock News
  • March S&Ps this morning are trading down -11.60 points at a 1-week low. The U.S. stock market Monday settled lower for a second day on global growth concerns after China reduced its economic growth target and after the Feb Euro-Zone PMI composite index was unexpectedly revised lower: Dow Jones -0.11%, S&P 500 -0.39%, Nasdaq Composite -0.86%. Bearish factors Monday included (1) carry-over weakness from a fall in Asian and European stocks on global economic concerns after China cut its growth projections to 7.5% from 8.0%, the lowest in 8 years, and after the Feb Euro-Zone PMI composite was unexpectedly revised down to 49.3 from 49.7, which signals greater-than-expected contraction in the European economy, (2) weakness in commodity producers, mining and industrial companies on concern a slowdown economic growth will reduce demand for their goods, and (3) comments from Dallas Fed President Fisher who said he opposes additional Fed asset purchases and that Wall Street should get ready to become less dependent on monetary easing as financial markets "have become hooked on the monetary morphine we provided" after the 2008 financial crisis.
  • Bullish factors included (1) the unexpected increase in the Feb ISM non-manufacturing index to its best level in a year (+0.5 to 57.3, stronger than expectations of -0.7 to 56.1), (2) the smaller-than expected decline in Jan factory orders and the upward revision to Dec (Jan -1.0%, better than expectations of -1.3%, while Dec factory orders were revised up to +1.4% from the originally reported +1.1%), and (3) reduced European sovereign-debt concerns after Greek Finance Minister Venizelos said he expects private creditors to accept its debt-swap terms because it constitutes "the best offer."
  • Amgen (AMGN) fell 1.1% in European trading after Sanford C. Bernstein downgraded the world's largest biotechnology company to "market perform" from "outperform."
Today's Market Focus
  • June 10-year T-notes this morning are up +10 ticks. T-note prices Monday traded on either side of unchanged until mid-morning when they turned down and settled lower after growth in U.S. non-manufacturing industries unexpectedly grew in Feb, while safe-haven demand for Treasuries fell after Greece said it expects private creditors to accept its debt-swap terms: TYM2 -7.0, FVM2 -5.7, EDU2 -3.0. Bearish factors Monday included (1) the unexpected increase in the Feb ISM non-manufacturing index to its best level in a year (+0.5 to 57.3, stronger than expectations of -0.7 to 56.1), (2) comments from Greek Finance Minister Venizelos that dampened the safe-haven demand for Treasuries when he said he expects private creditors to accept its debt-swap terms because it constitutes "the best offer," and (3) hawkish comments from Dallas Fed President Fisher who said he opposes additional Fed asset purchases and that Wall Street should get ready to become less dependent on monetary easing as financial markets "have become hooked on the monetary morphine we provided" after the 2008 financial crisis. Bullish factors included (1) global growth concerns after China cut its growth projections to 7.5% from 8.0%, the lowest in 8 years and after the Feb Euro-Zone PMI composite was unexpectedly revised lower, and (2) increased safe-haven demand for Treasuries as the stock market faltered.
  • The dollar index this morning is higher and at a 2-1/2 week high with the dollar/yen -0.48 yen and the euro/dollar -0.80 cents. The dollar index Monday posted a 2-week high on increased safe-haven demand after China cut its growth projections but then erased its advance and settled lower after the euro gained when Greece said it expects private creditors to accept its debt-swap terms: Dollar Index -0.103, USD/JPY -0.139, EUR/USD +0.00196. Bearish factors included (1) strength in the euro after Greek Finance Minister Venizelos said it expects private creditors to accept its debt-swap terms because it constitutes "the best offer," (2) the unexpected increase in Jan Euro-Zone retail sales, which is euro supportive, and (3) reduced safe-haven demand for the dollar after the Feb ISM non-manufacturing index unexpectedly expanded to its best level in a year. Bullish factors included (1) global growth concerns which boosted the safe-haven demand for the dollar after China cut its growth projections to 7.5% from 8.0%, the lowest in 8 years, (2) the unexpected downward revision to the Feb Euro-Zone PMI composite index to 49.3 from 49.7, which signals greater contraction in the European economy and is euro negative, and (3) data from the IMF that showed Q3 2011 global foreign-exchange holdings of euros fell to a 3-year low of 25.7%, while the U.S. dollar's share climbed to 61.7%, a 1-year high.
  • Apr crude oil prices this morning are down -61 cents a barrel and Apr gasoline is -0.13 of a cent per gallon. Crude oil and gasoline prices Monday settled mixed as a weaker dollar and Iran concerns offset China's cut to its economic growth target: CLJ12 +$0.02, RBJ -1.41. Bullish factors included (1) the reversal in the dollar after the dollar index fell from a 2-week high and closed lower, which boosts investment demand in commodities, (2) increased geopolitical concerns after comments from President Obama who said he takes "no options off the table" including a "military effort" to stop Iran from having a nuclear weapon, and (3) supply concerns in the U.S. Midwest after a vehicle collision and fire prompted Enbridge to close a 320,000 barrel a day pipeline from Superior, Wisconsin to Mokena, Illinois that supplies refineries run by BP Plc and Citgo Petroleum in the Chicago area. Bearish factors included (1) the action by China to cut its economic growth goal to 7.5% from an 8.0% goal that had been in place since 2005, which signals reduced crude consumption by the world's second-largest crude oil consumer, (2) the increase in Iraq's crude production to more than 3 million barrels a day according to Iraq's oil minister, the highest since 1979, which signals increased global supplies, and (3) possible long-liquidation pressures after CFTC data showed hedge funds increased net-long positions in NYMEX crude by +5% to 272,032 contracts in the week ended Feb 28, the highest in 9-1/2 months.
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): DKS-Dick's Sorting Goods (BEST earnings consensus $0.88), KRO-Kronos Worldwide (0.50), P-Pandora Media (-0.02), UNFI-United Natural Foods (0.44), MAKO-MAKO Surgical (-0.14), MTN-Vail Resorts (1.38), AAT-American Assets Trust (-0.03), BPI-Bridgepoint Education (0.38), AKRX-Akorn (0.08), BLT-Bluont International (0.33), SHFL-Shuffle Master (0.11), ESC-Emeritus (-0.36), RIGL-Rigel Pharmaceuticals (-0.24), ALOG-Analogic (0.69).
Global Financial Calendar
Tuesday 3/6/12
United States
0745 ET ICSC (Int?l Council of Shopping Centers) weekly retailer sales.
0855 ET Redbook weekly retailer sales.
1130 ET Weekly 4-week and monthly 1-year T-bill auctions.
United Kingdom
0300 ET Feb U.K. Halifax house prices expected +0.3% m/m and -1.6% y/y, Jan +0.6% m/m and -1.8% y/y.
Euro-Zone
0500 ET Revised Q4 Euro-Zone GDP, previous -0.3% q/q and +0.7% y/y
Canada
1000 ET Feb Ivey purchasing Manager s Index expected -2.1 to 62.0, Jan +0.6 to 64.1.

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Taubman Centers - TCO - Barchart Chart of the Day

Barchart.coms Chart of the Day - Taubman Centers (TCO)
Related Stocks
TCO - Taubman Centers
Sym Last Chg Pct
TCO 69.80 -0.77 -1.09%
The "Chart of the Day" is Taubman Centers (TCO), which showed up on Monday's Barchart "All Time High" list. Taubman on Monday posted a new all-time high of $70.81 and closed +1.41%. TrendSpotter has been Long since Oct 26 at $58.11. In recent news on the stock, Taubman on March 1 raised its quarterly dividend by 2.8% to 46.25 cents per share. ISI Group on Feb 15 upgraded Taubman Centers to a Buy from Hold. Taubman on Feb 8 reported Q4 adjusted funds from operation (FFO) of 93 cents versus the consensus of 85 cents. Taubman Centers, with a market cap of $4 billion, is a real estate investment trust specializing in owning and operating regional retail shopping centers.

tco_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

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Technicals Summary
Trader's Cheat Sheet™

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Barchart Snapshot
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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

Monday, March 5, 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 3 having steady upward price momentum and found Phillip Morris International (PM), Chipotle Mexican Grill (CMG) and TJX Companies (TJX):

Phillip Morris International (PM)


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 10.31% in the last month
  • Relative Strength Index 77.21%
  • Barchart computes a technical support level at 83.87
  • Recently traded at 84.52 with a 50 day moving average of 78.69
Chipolte Mexican Grill (CMG)


Barchart technical indicators:
  • 96% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 15 new highs and up 6.00% in the last month
  • Relative Strength Index 76.92%
  • Barchart computes a technical support level at 390.50
  • Recently traded at 394.44 with a 50 day moving average of 364.57
TJX Companies (TJX)


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 7.88% in the last month
  • Relative Strength Index 77.05%
  • Barchart computes a technical support level at 36.71
  • Recently traded at 37.20 with a 50 day moving average of 34.02




Barchart Morning Call 3/5

Barchart Morning Call
Overnight Developments
  • Global stocks this morning are lower with the Euro Stoxx 50 down -0.56% and Mar S&Ps down -6.00 points. The dollar index rose to a 2-week high and Treasuries are stronger while stocks and commodities moved lower after China announced its lowest economic growth target in 8 years and European services and manufacturing output last month was revised lower. The euro fell to a 2-week low against the dollar and the cost of insuring against default on European government debt rose to a 1-1/2 month high after the Feb Euro-Zone PMI composite was unexpectedly revised down -0.4 to 49.3 from the originally reported 49.7. The euro recovered from its worst levels against the dollar after Jan Euro-Zone retail sales unexpectedly rose +0.3% m/m and was unchanged y/y, stronger than expectations of -0.1% m/m and -1.5% y/y. The British pound slipped to a 1-week low against the dollar after Feb U.K. PMI services dropped -2.2 to 53.8, weaker than expectations of -1.1 to 54.9.
  • Asian stocks today closed lower with Japan down -0.80%, China -0.64%, Australia -0.24%, South Korea -1.01%, India -1.55%. The biggest negative factor dragging Asian and other global equity markets lower was the action by Chinese Premier Wen Jiabao to cut China's growth target to 7.5% from an 8.0% goal in place since 2005, saying China needs to shift to a more sustainable and efficient economic model and achieve "higher-quality development over a longer period of time." China will also aim for inflation of about 4% this year, unchanged from its 2011 goal, even after China's consumer prices rose 5.4% last year. Another negative factor for Chinese stocks was the -4.5 point decline in the Feb China non-manufacturing index to 48.4, its weakest pace of growth in a year. Japanese stocks closed lower on the China news along with a stronger yen, which clouds the earnings outlook for exporters.
Overnight U.S. Stock News
  • March S&Ps this morning are trading down -6.00 points. The U.S. stock market Friday settled lower on concern the recent rally in the S&P 500 to a 3-3/4 year high has outpaced global growth prospects: Dow Jones +0.22%, S&P 500 +0.62%, Nasdaq Composite +0.74%. The Nasdaq posted a fresh 11-year high but shed its gains and closed lower. Bearish factors Friday included (1) concern over sustainability of the global expansion after Jan German retail sales unexpectedly declined and Jan Japan overall household spending fell more than expected, (2) concern over contagion of the European crisis after Spain's Prime Minister raised his country's budget deficit target for 2012 to 5.8% of GDP, defying a previous 4.4% level previously agreed to with EU leaders, and (3) weakness in energy and raw material producers after a surge in the dollar index to a 2-week high prompted weakness in most commodities.
  • Bullish factors included (1) comments from St. Louis Fed President Bullard who said recent U.S. economic data is "better than expected," and the U.S. could weather a recession in Europe and (2) carry-over support from a rally in European banks after Goldman Sachs raised the European banking industry to "overweight" from "neutral," citing an anticipated boost in liquidity and profits from the ECB's 3 year loans to European lenders.
  • Freeport-McMoran Copper & Gold (FCX) slipped 1.2% in European trading after copper declined on concern China's demand for industrial metals may slow after Premier Wen Jiabao cut China's growth target.
Today's Market Focus
  • June 10-year T-notes this morning are up +0.5 of a tick. T-note prices Friday settled higher on dovish comments from San Francisco Fed President Williams along with increased safe-haven demand on concern European economic growth may slow after Jan German retail sales unexpectedly declined: TYM2 +18.0, FVM2 +9.7, EDU2 +2.0. Bullish factors Friday included (1) comments from San Francisco Fed President Williams who said the Fed should maintain an "extraordinarily supportive policy" to reduce an unemployment rate that will probably exceed 7% for years and "we may need to do more if the recovery falters or if inflation stays below 2%," (2) concern the European economy may slow after Jan German retail sales unexpectedly declined, and (3) increased safe-haven demand for Treasuries as stocks retreated. A bearish factor was comments from St. Louis Fed President Bullard who said recent U.S. economic data is "better than expected," and the U.S. could weather a recession in Europe.
  • The dollar index this morning is higher and at a 2-week high with the dollar/yen -0.48 yen and the euro/dollar -0.11 cents. The dollar index Friday posted a 2-week high and settled higher after the euro weakened on an unexpected decline in German retail sales while the yen sank on speculation the BOJ may expand its monetary easing measures: Dollar Index +0.614, USDJPY +0.583, EURUSD -0.01146. The euro fell to a 1-1/2 week low and the yen sank to a 9-month low against the dollar. Bullish factors included (1) concern that economic growth in Europe may slow after Jan German retail sales unexpectedly declined, (2) the action by Spain's Prime Minister to raise the country's budget deficit target for 2012 to 5.8% of GDP, defying a previous 4.4% level previously agreed to with EU leaders, which may worsen the European debt crisis and weaken the euro, (3) the weaker-than-expected Jan Japan household spending along with the unexpected increase in the Jan Japan jobless rate, which undercut the yen on speculation the BOJ may boost its easing measures to stimulate economic growth, and (4) increased safe-haven demand for the dollar as stocks tumbled. Bearish factors included (1) dollar negative comments from San Francisco Fed President Williams who said the Fed should maintain an "extraordinarily supportive policy" to reduce the unemployment rate and (2) reduced safe-haven demand for the dollar after Goldman Sachs upgraded the European banking industry to "overweight" from "neutral," citing an anticipated boost in liquidity and profits from the ECB's 3 year loans to European lenders.
  • Apr crude oil prices this morning are down -39 cents a barrel and Apr gasoline is +0.05 of a cent per gallon. Crude oil and gasoline prices Friday settled lower after Saudi Arabia denied a report of sabotage at its oil facilities and after the dollar rallied: CLJ12 -$2.14, RBJ -7.96. Bearish factors included (1) the rally in the dollar index to a 2-week high, which discourages investment demand in commodities, (2) the denial from a Saudi official who said there was no damage or sabotage to its oil facilities in the Qatif area, contradicting reports from Iran's Press TV late Thursday that an explosion hit pipelines in the area, (3) comments from President Obama who said in an interview with The Atlantic magazine that a pre-emptive strike against Iran might generate "sympathy" for Iran and allow it to portray itself as a victim, which eases concern that a pre-emptive attack may take place, and (4) concern that economic growth in Europe may slow after Jan German retail sales unexpectedly declined. Bullish factors included (1) concern over Monday's meeting between President Obama and Israeli Prime Minister Netanyahu and whether it will lead to military action against Iran over its nuclear program and (2) comments from San Francisco Fed President Williams who said the Fed should maintain an "extraordinarily supportive policy" to reduce the unemployment rate, which may spur economic growth and boost fuel demand.
Today's U.S. Earnings Reports Earnings reports (confirmed releases, sorted by mkt cap): EEP-Enbridge Energy Partners LP (BEST earnings consensus $0.38), PAY-Verifone Systems (0.52), ARCO-Arcos Dorados Holdings (0.23), MSG-Madison Square Garden (0.15), CASY-Casey's General Stores (0.44), HGIC-Harleysville Group (0.65), ABM-ABM Industries (0.22), GA-Giant Interactive Group (0.17), SONO-SonoSite (0.84), NX-Quanex Building Products (-0.03).
Global Financial Calendar
Monday 3/5/12
United States
1000 ET Feb ISM non-manufacturing index expected -0.7 to 56.1, Jan +3.8 to 56.8.
1000 ET Jan factory orders expected -1.3%, Dec +1.1%.
1130 ET Weekly 3-mo and 6-mo T-bill auctions.
1320 ET Dallas Fed President Richard Fisher speaks to the Dallas Regional Chamber on ?The State of the Economy.?
CHI
0200 ET Zhang Ping, head of the National Development and Reform Commission, China?s top planning agency, holds a press briefing during the annual session of the National People?s Congress.
France
0350 ET Revised Feb French PMI services expected no change at 50.3.
Germany
0355 ET Revised Feb German PMI services expected no change at 52.6.
Euro-Zone
0400 ET Revised Feb Euro-Zone PMI composite expected no change at 49.7.
0430 ET Mar Euro-Zone Sentix investor confidence expected+6.1 to -5.0, Feb +10.0 to -11.1.
0500 ET Jan Euro-Zone retail sales expected -0.1% m/m and -1.5% y/y, Dec -0.3% m/m and -1.3% y/y.
United Kingdom
0430 ET Feb U.K. PMI services expected -1.1 to 54.9, Jan +2.0 to 56.0.
Japan
2030 ET Jan Japan labor cash earnings expected -0.3% y/y, Dec +0.1% y/y.

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Sonic Automotive - SAH - Barchart Chart of the Day

Barchart.coms Chart of the Day - Sonic Automotive (SAH)
Related Stocks
SAH - Sonic Automotive
Sym Last Chg Pct
SAH 18.65 +0.10 +0.54%
The "Chart of the Day" is Sonic Automotive (SAH), which showed up on Friday's Barchart "52-Week High" list. Sonic on Friday posted a new 3-1/2 year high of $18.64 and closed +5.10%. TrendSpotter issued a new Buy signal last Tuesday at $17.92. In recent news on the stock, Sonic on Feb 28 reported Q4 EPS of 43 cents, above the consensus of 38 cents. Sonic Automotive, with a market cap of $900 million, is one of the largest automotive retailers in the United States.


sah_700
How we found the Chart of the Day:
We found the "Chart of the Day" by scanning the Barchart "52-week Highs" page. That page shows all the stocks that have posted new 52-week highs, which is a popular sign of 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