Financial Tides -- A Stock Market Investing Newsletter by Jim Van Meerten: 2012-06-10

Thursday, June 14, 2012

3 Great NASDAQ 100 stocks

This morning I used Barchart to screen the NASDAQ 100 stocks to find the 3 with the best technical momentum and found Ross Stores (ROST), Perrigo Company (PRGO) and Monster Beverage Corp. (MNST)

Ross Stores (ROST)

Barchart technical indicators:

96% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
7 new highs and up 6.95% in the last month
Relative Strength Index 60.52%
Barchart computes a technical support level at 63.40
Recently traded at 64.87 with a 50 day moving average of 61.44

Perrigo Company (PRGO)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving average
13 new highs and up 10.07% in the last month
Relative Strength Index 68.43%
Barchart computes a technical support level at 107.95
Recently traded at 110.24 with a 50 day moving average of 103.96

Monster Beverage Corp. (MNST)

Barchart technical indicators:

96% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
8 new highs and up 6.89% in the last month
Relative Strength Index 62.71%
Barchart computes a technical support level at 73.67
Recently traded at 75.84 with a 50 day moving average of 68.41

Barchart's Morning Call 6/14

Barchart Morning Call

BC - 2 hrs 3 mins ago

Overnight Developments

Sep E-mini S&Ps this morning are slightly higher by 2.75 points (+0.21%). European stocks are little changed. Crude oil, gold and copper are little changed and agricultural commodities are mixed. The dollar index is slightly higher by +0.08%. Sep 10-year T-notes are down 2 ticks.
The Euro Stoxx 50 this morning is slightly lower by -0.07%. Asian stocks today closed lower on carry-over weakness from yesterday's U.S. stock market session and the 3-step downgrade for Spain by Moody's: Japan -0.22%, Hong Kong -1.15%, China -0.78%, Taiwan -0.19%, Australia -0.53%, Singapore -0.47%, South Korea +0.62%, India -1.20%, Turkey -0.09%.
The Chinese stock market today was undercut by cuts in growth estimates. Credit Suisse cut its Chinese GDP growth estimate for 2012 to +7.7% from 8.0% and for 2013 to +7.9% from +8.2%. Deuschebank cut its 2012 GDP growth estimate to +7.9% from +8.2%.
OPEC at its meeting today is expected to leave its production ceiling unchanged at 30 million bpd. OPEC is currently pumping 31.6 million bpd of oil, which is 1.6 million bpd above the ceiling. Saudi Arabia and its Gulf partners favor raising the target by 500,000 bpd but have run into strong resistance from Iran, Venezuela and other members of the cartel.
Spain's 10-year yield rose to a euro-era record of 6.86% today, moving towards the 7.00% level that has prompted a bailout in other countries. Spain has a bailout coming for its banking system but hopes to continue to finance its government budget deficit in the private bond markets. If the Spanish yield continues rising, Spain will need a full sovereign bailout that will cost somewhere in the neighborhood of $300-400 billion euros. Italy's 10-year bond yield rose to 6.29% today. French President Hollande meets today in Rome with Italian President Monti.
Italy today successfully sold its intended amount of 4.5 billion euros worth of 3-year, 7-year and 8-year bonds. However, Italy had to pay 5.3% on the 3-year bonds, up 140 bp from its 3-year sale a month ago.
Spanish bank net borrowing from the ECB rose to 288 billion euros in May from 264 billion euros in April. That indicates that the Spanish banking system will be heavily dependent on ECB loans for a matter of years even in the wake of last Saturday's announcement of a Spanish bank bailout of up to 100 billion euros.
German Chancellor Merkel today said that she has nothing against the ECB taking on a larger role in regulating European banks. France said yesterday that it will press the EU at the upcoming summit on June 28-29 to adopt a plan for the ECB to be in charge of bank supervision and to allow the ECB to provide money directly to troubled banks for bailout capital. France is also pushing to allow the ESM to have a banking license so that it can borrow from the ECB and leverage its capital to have a larger bailout capacity.
Japan's final April industrial production report was revised lower to -0.2% m/m and +12.9% y/y from +0.2% m/m and +13.4% y/y. April capacity utilization fell -0.6% m/m versus the previous +1.3% m/m.

The Eurozone May CPI report of -0.1% m/m and +2.4% y/y was close to market expectations of -0.2% m/m and +2.4% y/y. The Eurozone May core CPI was unchanged from the previous month at +1.6% y/y.
Market Comments

Sep E-mini S&Ps this morning are up +2.75 points (+0.21%) as the news front is relatively quiet and the market is looking ahead to today's U.S. economic reports and Sunday's Greek election. The stock market on Wednesday closed moderately lower: S&P 500 -0.70%, Dow Jones -0.62%, Nasdaq 100 -0.74%. Bearish factors centered on continued worries about Europe and the U.S. retail sales report which showed back-to-back declines of -0.2% in April/May and caused worries that the U.S. economy may be in the throes of a significant slowdown. The U.S. stock market is particularly worried ahead of Sunday's election in Greece, which could end up in a showdown between Greek politicians and Eurozone officials and a possible exit of Greece from the euro.
Sep 10-year T-notes this morning are down 2 ticks on the relatively quiet risk front so far today. Sep 10-year T-note prices on Wednesday closed moderately higher: TYU2 +16, FVU2 +6.75. Bullish factors included the weak U.S. retail sales report and increased safe-haven demand with the weakness in stocks and the ongoing bad news in Europe that included credit rating downgrades and higher bond yields in Italy and Spain.
The dollar index this morning is up +0.06 (+0.08%), EUR/USD is up +0.0009 (+0.07%), and USD/JPY is down -0.21 (-0.26%). The dollar index on Wednesday closed mildly lower: Dollar Index -0.272 (-0.33%), EUR/USD +0.0054 (+0.43%), USD/JPY -0.05 (-0.06%). The dollar index fell on Wednesday due to the weak U.S. retail sales report. EUR/USD saw some short-covering after the Financial Times Deutschland reported that European leaders may consider relaxing Greece's austerity program after the June 17 election. In addition, Radical Left Syriza leader Tsipras told Bloomberg he has no intention of pulling Greece out of the euro, suggesting that there may be room for a compromise even if Tsipras becomes the head of a coalition government after the election.
July WTI crude oil prices this morning are trading slightly higher by +0.03 points and July gasoline down -0.0087 (-0.33%). The market is waiting for the outcome of today's OPEC meeting. Crude oil and gasoline prices on Wednesday closed mixed: CLN2 -0.70 (-0.84%), RBN2 +0.52 (+0.20%). Crude oil prices fell on the weak U.S. retail sales report and the smaller-than-expected -191,000 bbl decline in DOE U.S. oil inventories versus expectations of -1.5 mln bbl. Gasoline prices were supported by the -1.724 mln bbl decline in U.S. gasoline inventories vs expectations of +1.5 mln bbl. Distillate inventories fell -63,000 bbl vs expectations of +1.0 mln bbl, which was bullish for heating oil and diesel fuel. The refinery utilization rate rose by 1.0 point to the very high level of 92.0%, which means that refineries are now running flat out and that crude oil inventories should start to decline on a sustained basis and that gasoline and distillate inventories should start to increase on a sustained basis.

For the complete 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): KR-Kroger (consensus $0.73), SFD-Smithfield Foods (0.53), PIR-Pier One Imports (0.16).
Global Financial Calendar

Thursday 6/14/12
United States
0830 ET	Weekly initial unemployment claims expected -2,000 to 375,000, previous -12,000 to 377,000. Weekly continuing claims expected -24,000 to 3.269 mln, previous +34,000 to 3.293 mln.
0830 ET	May CPI expected -0.2% m/m and +1.9% y/y, Apr unch m/m and +2.3% y/y. May core CPI expected +0.2% m/m and 2.2% y/y, Apr +0.2% m/m and +2.3% y/y.
0830 ET	Q1 current account deficit expected -$132.0 bln, Q4 -$124.1 bln.
0830 ET	USDA weekly exports.
0830 ET	NOPA May oilseed report.
1030 ET	DOE natural gas storage.
1300 ET	Treasury sells $13 bln in 30-year T-bonds.
1500 ET	Apr consumer credit, Mar +$21.355 bln.
1630 ET	Weekly money supply report and Fed balance sheet.
n/a	Treasury announces 30-year TIPS auction for June 21, last $9 bln.
n/a	OPEC meets in Vienna.
Japan
0030 ET	Japan final-Apr industrial production expected unrevised from preliminary +0.2% m/m and +13.4% y/y. Final-Apr capacity utilization expected unrevised at +1.3% m/m.
n/a	BOJ begins 2-day meeting.
Euro-Zone
0400 ET	ECB June monthly report.
0500 ET	Eurozone May CPOI expected -0.2% m/m and +2.4% y/y, Apr +0.5% m/m and +2.4% y/y. May core CPI expected +1.6% y/y, Apr +1.6% y/y.
0500 ET	Eurozone Q1 labor costs expected +2.6% y/y, Q4 +2.8% y/y.
Germany
0200 ET	German May wholesale price index, Apr +0.5% m/m and +2.4% y/y.

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Family Dollar Stores - FDO - Barchart's Chart of the Day

Barchart.com's Chart of the Day - Family Dollar Stores (FDO)

Barchart Research Team - BC - Wed Jun 13, 5:02PM CDT

Related Stocks

FDO - Family Dollar Stores

Sym	Last	Chg	Pct
FDO	72.01	+1.93	+2.75%

The "Chart of the Day" is Family Dollar Stores (FDO), which showed up on Wednesday's Barchart "All-Time High" list. Family Dollar Stores on Wednesday posted a new all-time high of $71.07 and closed up 0.95%. TrendSpotter just turned long again on Wednesday's close at $70.08. In recent news on the stock, Family Dollar Stores announced on June 4 that it reached an agreement to place Redbox movie/game rental machines in its stores. Northcoast on June 4 upgraded Family Dollar Stores to Buy from Neutral with a target of $81 on expectations that the company's operating results will improve with the rollout of tobacco products, increased breadth of merchandise, and ongoing optimization. Family Dollar Stores, with a market cap of $8 billion, is a discount store chain in the United States that provides consumers with good-value, low-cost, basic merchandise for family and home needs.

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

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Wednesday, June 13, 2012

3 Terrific Small Caps

This morning I used Barchart to screen the Small Cap S & P 600 stocks to find 3 with good technical momentum indicators and found Skechers USA (SKX), Questcor Pharmaceutical (QCOR) and Neogen (NEOG)

Skechers USA (SKX)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
7 new highs and up 17.48% in the last month
Relative Strength Index 73.69%
Barchart computes a technical support level at 19.76
Recenlty traded at 20.46 with a 50 day moving average of 16.58

Questcor Pharmaceuticals (QCOR)

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 17.48% in the last month
Relative Strength Index 72.79%
Barchart computes a technical support level at 42.77
Recently traded at 48.31 with a 50 day moving average of 41.79

Neogen (NEOG)

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 10.94% in the last month
Relative Strength Index 77.20%
Barchart computes a technical support level at 41.85
Recently traded at 43.63 with a 50 day moving average of 38.92

Barchart's Morning Call 6/13

Barchart Morning Call

BC - 2 hrs 3 mins ago

Overnight Developments

E-mini S&Ps this morning are mildly lower by -0.27% ahead of this morning's U.S. retail sales report, which is expected to show a decline of -0.1% m/m. Commodity prices are mixed this morning with crude oil -0.19%, gold -0.19%, copper +0.57%, and agricultural commodities mixed. The dollar index is -0.12% while EUR/USD is up +0.22%. Sep 10-year T-note prices are -6 ticks.
The Euro Stoxx 50 index this morning is little changed as the market awaits Sunday's Greek election. Asian stocks today closed mostly higher: Japan +0.60%, Hong Kong +0.82%, China +1.59%, Taiwan +0.24%, Australia -0.22%, Singapore -0.36%, South Korea +0.26%, India +0.11%, Turkey +0.11%.
Chinese stocks rallied by 1.6% today on speculation the Chinese government is planning additional stimulus measures to boost the economy. Japanese stocks received a boost today from news that Japan's April machine orders rose sharply by +5.7% m/m.
Spanish Prime Minister Rajoy is again calling on the ECB to buy Spanish bonds under its Securities Market Program to bring down Spanish bond yields. Spanish bond yields have soared in the wake of Saturday's Spanish bank bailout because the European bailout facility is now likely to have seniority over private Spanish bond holders and because Spain is now likely to miss its budget deficit reduction targets. The ECB will not appreciate Spain's political pressure to buy bonds, although the ECB may yet step in to buy Spanish and Italian bonds if yields continue to rise and market confidence is in danger of spiraling out of control.
Italy today was able to sell 6.5 billion euros of 1-year bills, its maximum target, at a yield of 3.972%, up from 2.34% at the previous auction on May 11. Completing the sale was a step in the right direction although Italy should not have had trouble selling short-term bills due to the relatively low risk on shorter-term securities. The tougher test will come on Thursday when the Italy is due to sell 3-year, 7-year and 8-year bonds. Germany today easily sold 4.04 billion euros of 10-year bund at an average yield of 1.52%.
In some good news on the European debt crisis, the Italian 10-year bond yield today fell by 8 bp to 6.09% and the Spanish 10-year bond yield fell by 4 bp to 6.66%.
Japan Apr machine orders rose +5.7% m/m and +6.6% y/y, which was stronger than market expectations of +1.6% m/m and +4.9% y/y.
Germany's May final EU-harmonized CPI was left unrevised at -0.2% m/m and +1.9% y/y, which was in line with market expectations.

Eurozone April industrial production fell by -0.8% m/m and -2.3% y/y, which was a smaller decline than expectations of -1.2% m/m and -2.7% y/y, but nevertheless added to the decline of -0.1% m/m seen in March.
Market Comments

Sep E-mini S&Ps this morning are down -3.50 points (-0.27%) on some nervousness ahead of today's April retail sales report, which is expected to show a -0.1% m/m decline, the second consecutive weak monthly report. The US stock market on Tuesday closed with solid gains: S&P 500 +1.17%, Dow Jones +1.31%, Nasdaq 100 +1.15%. Bullish factors on Tuesday included (1) dovish comments by Chicago Fed President Evans who said he favors extending Operation Twist as well as "pretty much any accommodative policy I've heard about," (2) increased hopes for FOMC action at its meeting next Tuesday/Wednesday as an antidote to the current turmoil, and (3) the ECB's endorsement of a European Commission proposal to guarantee bank deposits. The U.S. stock market was able to shake off Fitch's warning that Spain is likely to miss its deficit reduction targets by a "significant" margin and the 19 bp rise in the Spanish 10-year bond yield to 6.68%. The Italian 10-year bond yield rose by 14 bp to 6.16%.
Sep 10-year T-notes this morning are down -6 ticks on generally stable global stock markets and on some supply overhang ahead of today's auction of $21 billion in 10-year T-notes. Sep 10-year T-note prices on Tuesday closed moderately lower: TYU2 -18, FVU2 -8.75. T-note prices on Tuesday fell on reduced safe-haven demand tied to the rally in stocks.
The dollar index this morning is down -0.101 (-0.12%) on generally stable global equity markets. EUR/USD is up +0.0028 (+0.22%) and USD/JPY is up +0.15 (+0.19%). The dollar index on Tuesday closed mildly lower: Dollar Index -0.092 (-0.11%), EUR/USD +0.0021 (+0.17%), USD/JPY +0.09 (+0.11%). The dollar index fell on Tuesday as the rally in stocks slightly reduced safe-haven demand for the dollar.
July WTI crude oil prices this morning are trading -0.16 (-0.19%) while July gasoline is +0.0079 (+0.30%). Crude oil saw some downward pressure from today's IEA report that global oil production in May rose by 200,000 bpd to 91.1 million bpd. The petroleum market is looking ahead to today's weekly DOE report, which is expected to show a decline in crude oil inventories and a rise in product inventories. Crude oil and gasoline prices on Tuesday closed mixed: CLN2 +0.62 (+0.75%), RBN2 -0.0064 (-0.24%). U.S. WTI crude oil prices on Tuesday closed moderately higher on some short-covering and on a little brighter economic view with the rally in the stocks and hopes that the FOMC next week will extend Operation Twist or adopt a new securities purchase program. July gasoline prices closed lower on Tuesday thanks mainly to the 86-cent sell-off in Brent crude oil on Saudi Arabia's push for a higher OPEC production target at Thursday's meeting. July Nymex gasoline prices are priced in NY Harbor and are often influenced more by European Brent crude oil than by Nymex WTI crude oil futures, which are priced in Cushing, Oklahoma.

For the complete 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): KFY-Korn-Ferry (consensus $0.27).
Global Financial Calendar

Wednesday 6/13/12
United States
0700 ET	Weekly MBA mortgage applications, previous +1.3%, purchase sub-index -1.8%, refi sub-index +2.0%.
0830 ET	May PPI expected -0.6% m/m and +1.3% y/y, Apr -0.2% m/m and +1.9% y/y. May core PPI expected +0.2% m/m and +2.7% y/y, Apr +0.2% m/m and +2.7% y/y.
0830 ET	May retail sales expected -0.1% m/m, Apr +0.1% m/m. May retail sales ex-autos expected unchanged m/m, Apr +0.1% m/m.
1000 ET	Apr business inventories expected +0.3%, Mar +0.3%.
1030 ET	DOE Weekly Petroleum Status Report.
1300 ET	Treasury sells $21 billion in 10-year T-notes.
Germany
0200 ET	German final-May CPI expected unrevised from preliminary -0.2% m/m and +1.9% y/y. German final-May EU-harmonized CPI expected unrevised from -0.3% m/m and +2.1% y/y.
Euro-Zone
0500 ET	Eurozone Apr industrial production expected -1.2% m/m and -2.7% y/y, Mar -0.3% m/m and -2.2% y/y.

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

AthenaHealth - ATHN - Barchart's Chart of the Day

Barchart.com's Chart of the Day - AthenaHealth (ATHN)

Barchart Research Team - BC - Tue Jun 12, 5:45PM CDT

Related Stocks

ATHN - Athenahealth

Sym	Last	Chg	Pct
ATHN	81.08	+1.08	+1.35%

The "Chart of the Day" is AthenaHealth (ATHN), which showed up on Tuesday's Barchart "All-Time High" list. AthenaHealth on Tuesday posted a new all-time high of $80.13 and closed up +4.90%. TrendSpotter has been long since last Friday at $78.05. In recent news on the stock, Wells Fargo on May 30 initiated coverage on AthenaHealth with an Outperform and a target of $85-90. Lazard Capital on May 23 initiated coverage on AthenaHealth with a Buy and a target of $87. AthenaHealth, with a market cap of $2.8 billion, is a leading provider of internet-based business services for physician practices.

athn_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

Tuesday, June 12, 2012

3 Great Mid Caps

This morning I used Barchart to screen for the 3 S & P 400 Mid Cap stocks having the best technical momentum and found T W Telecom (TWTC), Westar Energy (WR) and Under Armour (UA):

T W Telecom (TWTC)

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 7.83% in the last month
Relative Strength Index 70.02%
Barchart computes a technical support level at 23.65
Recently traded at 24.43 with a 50 day moving average of 22.41

Westar Energy (WR)

Barchart technical indicators:

96% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
10 new highs and up 2.95% in the last month
Relative Strength Index 66.74%
Barchart computes a technical support level at 29.02
Recently traded at 29.35 with a 50 day moving average of 28.21

Under Armour (AU)

Barchart technical indicators:

96% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
9 new highs and up 9.42% in the last month
Relative Strength Index 62.24%
Barchart computes a technical support level at 99.53
Recently traded at 103.75 with a 50 day moving average of 96.88

Barchart's Morning Call 3/12

Barchart Morning Call

BC - 1 hr 59 mins ago

Overnight Developments

E-mini S&Ps this morning are up +0.44% on a +0.65% rally in European stocks and hopes for FOMC stimulative action next week after dovish comments by Chicago Fed President Evans. Commodity prices are mixed this morning with oil down -0.23%, gold down -0.26%, and copper down -0.09%, but with most agricultural prices trading higher. Sep 10-year T-note prices are down -4 ticks. The dollar index is down -0.08% while EUR/USD is up +0.23%.
The Euro Stoxx 50 index today is up +0.65% despite a further rise in the Spanish 10-year bond yield this morning as Spain's stock market recovered by +0.68% today. Asian stocks today closed mostly lower: Japan -1.02%, Hong Kong -0.43%, China -0.71%, Taiwan -0.68%, Australia +0.23%, Singapore +0.33%, South Korea -0.75%, India +1.17%, and Turkey +0.59%.
The Spanish 10-year bond yield today rose by 16 bp to 6.65%, which is only 5 bp below the record high of 6.70% posted last November. Fitch today said that Spain will miss its budget deficit target again this year and next year by a substantial margin due in part to the need for the Spanish government to borrow up to 100 billion euros to bail out its banking system.
Fitch Managing Director Ed Parker said today at an event in Oslo that sovereign credit ratings for countries in the Eurozone, including those that currently have a AAA rating, risk downgrades if they cannot demonstrate an end to the Eurozone debt crisis. Meanwhile, Fitch Co-Head of Financial Institutions Ratings James Longsdon said at the same event that a Greek exit from the Eurozone would make a third LTRO from the ECB "inevitable."
Chicago Fed President Evans reportedly said in an interview on Bloomberg TV that airs today that "I've been in favor of pretty much any accommodative policy I've heard about." He said, "extending Twist would be useful." He added, "More asset purchases would be useful. More mortgage-backed security purchases would be good."

UK April manufacturing production fell -0.7% m/m and -0.3% y/y, which was weaker than market expectations of -0.1% m/m and +0.4% y/y. UK April industrial was unchanged and -1.0% y/y, which was close to expectations of +0.1% m/m and -1.0% y/y.
Market Comments

Sep E-mini S&Ps this morning are up +5.75 points (+0.44%) on a +0.65% rally this morning in European stocks and on dovish comments by Chicago Fed President Evans, which is raising hopes for further FOMC action at next week's meeting such as extending Operation Twist. The US stock market on Monday closed with fairly sharp losses: S&P 500 -1.26%, Dow Jones -1.14%, Nasdaq 100 -1.64%. The global stock markets started out the day with a rally after Saturday's Spanish bank bailout and generally positive Chinese economic data over the weekend and on Monday. However, optimism quickly faded about the Spanish bank bailout after Spanish bond yields rose fairly sharply on concern that Spanish bond holders will have a junior claim compared with the Eurozone bailout facility. The market is also very worried about this Sunday's Greek election since the Radical Left Syriza party is expected to do well and cause continued problems with Greece keeping its bailout package and staying in the euro.
Sep 10-year T-notes this morning are down -4 ticks on reduced safe-haven demand with today's rally in U.S. and European stocks. Sep 10-year T-note prices on Monday closed higher: TYU2 +11.5, FVU2 +4.25. T-note prices rallied on Monday on the sharp sell-off in the U.S. stock market from its initial gains and on the knowledge that the European debt crisis is far from over despite the Spanish bank bailout.
The dollar index this morning is slightly lower by -0.19 points (-0.23%) on reduced safe-haven demand with the rallied in U.S. and European stocks. EUR/USD is up +0.0029 (+0.23%) and USD/JPY is up +0.10 (+0.13%). The dollar index on Monday closed little changed: Dollar Index +0.004, EUR/USD -0.0035 (-0.28%), USD/JPY -0.05 (-0.06%). The dollar index on Monday rallied back from early losses and closed the day little changed. Safe-haven demand for the dollar index returned as market optimism about the Spanish bank bailout quickly faded.
July WTI crude oil prices this morning are mildly lower by -0.19 (-0.23%) and July gasoline is down -0.0055 (-0.21%). The main bearish factor this morning is a report that the Gulf Cooperation Council nations (Saudi Arabia, Kuwait, UAE, Qatar) are pushing a proposal to raise OPEC's production target of 30 million bpd by 500,000 bpd at Thursday's OPEC meeting. Crude oil and gasoline prices on Monday closed sharply lower: CLN2 -2.66 (-3.16%), RBN2 -0.0537 (-2.00%). Bearish factors included (1) pessimism about Europe, (2) the fact that the U.S. yesterday granted exemptions to 7 more countries to its list of countries that can import oil from Iran without violating sanctions, and (3) expectations that OPEC on Thursday will leave its production target unchanged and not try to cut production to support oil prices.

For the complete 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): KORS-Michael Kors Holdings (consensus $0.16), FDS-Factset Research (1.16), CASY-Casey's General (0.67).
Global Financial Calendar

Tuesday 6/12/12
United States
0745 ET	ICSC (Int'l Council of Shopping Centers) weekly retailer sales.
0830 ET	May import price index expected -1.0% m/m and -0.6% y/y, Apr -0.5% m/m and +0.5% y/y.
0830 ET	USDA WASDE report.
0855 ET	Redbook weekly retailer sales.
1130 ET	Weekly 4-week T-bill auction.
1300 ET	Treasury sells $32 bln in 3-year T-notes.
1300 ET	World Bank releases new global economic forecasts.
1400 ET	May Treasury budget statement expected -$110.0 bln.
1630 ET	API weekly U.S. oil statistics.
Japan
1950 ET	Japan Apr machine orders expected +1.6% m/m and +4.9% y/y, Mar -2.8% m/m and -1.1% y/y.
United Kingdom
0430 ET	UK Apr industrial production expected +0.1% m/m and -1.0% y/y, Mar -0.3% m/m and -2.6% y/y. Apr manufacturing production expected -0.1% m/m and +0.4% y/y, Mar +0.9% m/m and -0.9% y/y.

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Ferrellgas Partners - FGP - Barchart's Chart of the Day

Barchart.com's Chart of the Day - Ferrellgas Partners (FGP)

Barchart Research Team - BC - Mon Jun 11, 5:04PM CDT

Related Stocks

FGP - Ferrellgas Partners L.P.

Sym	Last	Chg	Pct
FGP	18.08	+0.28	+1.57%

The "Chart of the Day" is Ferrellgas Partners (FGP), which showed up on Monday's Barchart "NYSE 3-Month High" list. Ferrellgas on Monday posted a new 3-month high of $18.02 and closed up +3.19%. TrendSpotter has been long since May 3 at $15.78. In recent news on the stock, Ferrellgas on June 8 reported fiscal Q3 EPS of 26 cents versus the consensus of 19 cents and said it sees positive momentum carrying over into fiscal Q4. Ferrellgas Partners, with a market cap of $1.2 billion, is engaged in the sale, distribution, marketing and trading of propane and other natural gas liquids.

fgp_700

How we found the Chart of the Day:
We found the "Chart of the Day" by clicking on the "Stocks" entry on the top menu bar, clicking on the "New Highs/Lows" entry on the left-menu bar, and then clicking on the entry for "NYSE 3-month Highs" page. We then clicked on the "Percent" column header in order to sort the list and find the stocks that had a relatively large percentage gain on the day. Stocks that have posted a new 3-month high are showing some 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: 33% Buy
Overall Average 88% Buy

Chart of the Day Archive
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Monday, June 11, 2012

Social Media stocks

Social Media Stocks discussed:

http://www.thestreet.com/story/11576050/1/social-media-can-be-antisocial-toward-investors.html

5 Great Large Caps

This morning I used Barchart to screen the S&P 500 Large Cap stocks for 5 with really good technical price momentum and found Wisconsin Energy (WEC), Verizon Communications (VZ), Integrys Energy (TEG), AT&T (T) and Sempra Energy (SRE):

Wisconsin Energy (WEC)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving average
8 new highs and up 3.87% in the last month
Relative Strength Index 72.86%
Barchart computes a technical support level at 37.95
Recently traded at 38.74 with a 50 day moving average of 36.53

Verizon Communications (VZ)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving average
6 new highs and up 3.38% in the last month
Relative Strength Index 69.03%
Barchart computes a technical support level at 41.32
Recently traded at 42.59 with a 50 day moving average of 40.60

Integrys Energy (TEG)

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 3.89% in the last month
Relative Strength Index 68.13%
Barchart computes a technical support level at 54.45
Recently traded at 55.95 with a 50 day moving average of 53.57

AT&T (T)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving average
10 new highs and up 3.33% in the last month
Relative Strength Index 67.78%
Barchart computes a technical support level at 33.89
Recently traded at 34.71 with a 50 day moving average of 32.59

Sempra Energy (SRE)

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 3.25% in the last month
Relative Strength Index 68.61%
Barchart computes a technical support level at 65.58%
Recently traded at 67.00 with a 50 day moving average of 63.96

Barchart's Morning Call 6/11

Barchart Morning Call

BC - 2 hrs 2 mins ago

Overnight Developments

E-mini S&Ps this morning are up +0.64% and European stocks are up 1.83% on the weekend news of a Spanish bank bailout and on a strong Chinese May export report of +15.3% y/y. The dollar index is down -0.42% and EUR/USD is up +0.36%, which is providing a boost for commodity prices. Commodity prices are up by an average of +0.56%, with crude oil up 1.01%, gold up 0.08%, copper up 1.80%, and agricultural prices trading higher. T-notes are down -6 ticks and Bunds are down -0.24 points on reduced safe-haven demand.
The Euro Stoxx 50 is up sharply by +1.83% this morning on the Spanish bank bailout. The Spanish stock market is seeing the largest gain with the Spain IBEX 35 index up +2.40%. The Asian stock markets today closed higher on support from last Friday's U.S. stock market rally, the weekend Chinese economic data, and the weekend Spanish bailout news: Japan +1.96%, Hong Kong +2.44%, China +1.34%, Taiwan +1.72%, Singapore +1.82%, South Korea +1.89%, India -0.30%, Turkey +1.63%.
The Spanish 10-year yield today fell by 14 bp to 6.07% in response to Saturday's news of a Eurozone bailout of Spain's banking sector of up to 100 billion euros. The markets are still waiting to hear whether the bailout will come from the temporary EFSF or from the permanent ESM bailout facility. If the bailout comes from the ESM, then the ESM will have seniority over Spanish bond holders and Spain's bond yields will remain higher than if Spanish bond holders had equal seniority to the bailout facility. The good news is that Spanish yields fell 14 bp today even though there is still uncertainty about the seniority of Spanish bond holders relative to the bailout facility.
The French Socialist party had a good showing in Sunday's first round of voting. However, it is necessary to wait for the results from this coming Sunday's second round of voting to see whether the Socialist party can obtain an outright majority of seats. French President Hollande will only have substantial power if his Socialist party can gain a majority of seats or can at least form a coalition government with closely allied parties. A strong government would be good for the European debt crisis since Mr. Hollande would have more power to push potentially controversial measures such as additional austerity through the parliament.
China's exports in May rose sharply by +15.3%, which was stronger than market expectations of +7.1%. China's May trade balance of $18.70 billion down from $18.43 billion in April but was higher than market expectations of $16.25 billion. Meanwhile, China's May industrial production strengthened slightly to +9.6% y/y from +9.3% in April but was a bit weaker than market expectations of +9.8%. China May retail sales eased to +13.8% from +14.1% in April and were a bit weaker than market expectations of +14.2%. China's May CPI ease to +3.0% y/y from +3.4% in April, which was weaker than market expectations of +3.2% and gives the Chinese central bank more flexibility to ease rates down the road.
In positive news for China, May new bank lending was 793.2 billion yuan ($125 billion), which was stronger than market expectations of 700 billion yuan. That suggested that the Chinese economy is a bit stronger than expected.

Japan's May consumer confidence index rose to 40.7 from 40.0 in April and was stronger than market expectations of 39.8. However, the Japan May machine tool orders report of -2.9% y/y was down from +0.4% y/y in April.
Market Comments

June E-mini S&Ps this morning are trading up 8.50 points (+0.63%) on the Spanish bank bailout and generally favorable economic news out of China. The US stock market on Friday closed with solid gains: S&P 500 +0.81%, Dow Jones +0.75%, Nasdaq 100 +0.94%. The stock market on Friday rallied on expectations for a Spanish bank bailout over the weekend. The bank bailout overcame bearish factors such as Fitch's 3-step credit rating cut for Spain and the 1.7% drop in German exports.
Sep 10-year T-notes this morning are down 6 ticks on reduced safe-haven demand with the rally in stocks and the Spanish bank bailout. Sep 10-year T-note prices on Friday closed slightly higher: TYU2 +2, FVU2 +0.25. The T-note market closed higher on Fitch's credit rating cut for Spain and the 1.7% drop in Spanish exports, which outweighed the decline in safe-haven demand tied to the rally in stocks.
The dollar index this morning is down -0.42% on reduced safe-haven demand with the Spanish bank bailout and the rally in stocks. EUR/USD is up 0.00045 (+0.36%) and USD/JPY is -0.07 yen (-0.09%). The dollar index on Friday closed slightly higher: Dollar Index +0.046 (+0.56%), EUR/USD -0.0044 (-0.35%), USD/JPY -0.14 (-0.18%). The dollar on Friday closed slightly higher while EUR/USD closed mildly lower. EUR/USD was undercut by Fitch's credit rating cut for Spain and the 1.7% decline in German exports. EUR/USD failed to get much upside support from expectations for a Spanish bank bailout over the weekend. The U.S. April trade deficit narrowed to -$50.1 bln from a revised -$52.6 bln in March, which was wider than expectations of -$49.5 bln.
July WTI crude oil prices this morning are up +0.85 (+1.01%) and July gasoline is up +0.0186 (+0.69%) on the weaker dollar, the Spanish bank bailout, and the generally positive Chinese economic data. Crude oil and gasoline prices on Friday closed mixed: CLN2 -0.72 (-0.85%), RBN2 +0.0002 (+0.01%). Crude oil and on Friday closed moderately lower while gasoline closed virtually unchanged as the market remains pessimistic about global fuel demand, although Friday's lack of any IAEA-Iran progress on inspections was a longer-term bullish factor.

For the complete 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): FNSR-Finisar (consensus $0.21).
Global Financial Calendar

Monday 6/11/12
United States
1100 ET	USDA weekly grain export inspections.
1130 ET	Weekly 3-mo and 6-mo T-bill auctions.
1200 ET	Fed's Lockhart speaks on U.S. economy in Chicago.
1600 ET	USDA Crop Progress
1800 ET	Fed's Pianalto speaks on improving educational attainment.
2015 ET	Fed's Evans speaks on U.S. economy in Chicago.
Japan
0100 ET	Japan May consumer confidence expected 39.8, Apr 40.
0200 ET	Japan final-May machine tool orders, last 0.40% y/y.
1950 ET	Japan Apr tertiary industry index expected +0.3% m/m, Mar -0.6% m/m.
1950 ET	Japan May domestic CGPI expected -0.4% m/m and -0.4% y/y, Apr +0.3% m/m and -0.2% y/y.
Germany
1801 ET	Germany Q3 manpower employment outlook.
United Kingdom
1901 ET	UK May RICS house price balance expected -0.17%, Apr -0.19%

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

Under Armour - AU - Barchart's Chart of the Day

Barchart.coms Chart of the Day - Under Armour (UA)

Barchart Research Team - BC - Sat Jun 09, 8:32PM CDT

Related Stocks

UA - Under Armour

Sym	Last	Chg	Pct
UA	104.42	+1.11	+1.07%

The "Chart of the Day" is Under Armour (UA), which showed up on Friday's Barchart "All-Time High" list. Under Armour on Friday posted a new all-time high of $103.32 and closed up 3.50%. TrendSpotter has been long since May 30 at $100.70. In recent news on the stock, Cowen on June 4 reiterated its Outperform rating on Under Armour and said that the company's running footwear will gain market share and that margins will improve on reduced input costs. Buckingham on May 29 reiterated its Buy rating on Under Armour with a target of $115. Under Armour, with a market cap of $5.2 billion, sells branded performance products for men, women and youth.

ua_700_01

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