Saturday, June 23, 2012

The9 Limited - NCTY - buy signals

This weekend I placed a buy order in for The9 Limited (NCTY) in the Barchart Van Meerten Speculative portfolio:

Barchart technical indicators:

24% Barchart technical buy signal
Trend spotter buy signal
Above its 20 and 50 day moving averages
15 new highs and up 49.64% in the last month
Relative Strength Index 60.31
Barchart computes a technical support level at 6.04
Recently traded at 6.27 with a 50 day moving average of 5.72

Mead Johnson Nutrition - MJN - Brachart's Chart of the Day

Barchart.coms Chart of the Day - Mead Johnson Nutrition (MJN)

Barchart Research Team - BC - Fri Jun 22, 10:40PM CDT

Related Stocks

MJN - Mead Johnson Nutrition Company

Sym	Last	Chg	Pct
MJN	88.64	+2.77	+3.23%

The "Chart of the Day" is Mead Johnson Nutrition (MJN), which showed up on Friday's Barchart "All-Time High" list. Mead Johnson on Friday posted a new all-time high of $88.72 and closed up 3.23%. TrendSpotter has been long since June 15 at $85.32. In recent news on the stock, Credit Suisse on June 14 raised its earnings estimates for Mead Johnson due to lower commodity prices and recent price increases in China. Credit Suisse reiterated its Outperform rating and $98 price target. Miller Tabak on June 5 upgraded its rating on Mead Johnson to Buy from Neutral with a price target of $90. Mead Johnson Nutrition, with a market cap of $17 billion, is a global leader in pediatric nutrition and sells more than 70 products in over 50 markets worldwide. The company's "Enfa" family of brands, including Enfamil infant formula, is the world's leading brand franchise in pediatric nutrition.

mjn_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: 60% Buy
Medium-Term Indicators: 100% Buy
Long-Term Indicators: 100% Buy
Overall Average 88% Buy

Barchart links for further information:

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Friday, June 22, 2012

Smart Balance - SMBL - buy signal

This afternoon I added Smart Balance (SMBL) to the Barchart Van Meerten Speculative portfolio:

Barchart technical indicators:

96% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
18 new highs and up 59.86% in the last month
Relative Strength Index 84.68%
Barchart computes a technical support level at 8.50
Recently traded at 9.17 with a 50 day moving average of 6.41

3 High Growth Stock with Great Technicals

This morning I tried an experiment I think you'll enjoy. I used both a fundamental and technical screener to find 3 High Growth stocks that have great technical indicators. First, I used the Value Line screener to find the stocks that analysts thought will have at least a 10% increase in revenue, earnings and price. That narrowed the 1700 stocks in their data base down to 258. I then entered those into Barchart and sorted for those with the best current technical momentum and found Allegiant Travel Company (ALGT), Nuvasive (NUVA) and Dollar General Corp (DG). When a stock has very positive projections from the fundamental analysts and great current price momentum how can you miss?

Allegiant Travel Company (ALGT)

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 11.19% in the last month
Relative Strength Index 67.47%
Barchart computes a technical support level at 68.40
Recently traded at 69.67 with a 50 day moving average of 62.97

Nuvasive (NUVA)

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 17.14% in the last month
Relative Strength Index 64.01%
Barchart computes a technical support level at 21.45
Recently traded at 22.42 with a 50 day moving average of 19.26

Dollar General Corp (DG)

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 13.01% in the last month
Relative Strength Index 68.52%
Barchart computes a technical support level at 51.61
Recently traded at 52.38 with a 50 day moving average of 48.04

Barchart's Morning Call 6/22

Barchart Morning Call

Fri, 22 Jun 2012 07:00:00 -0500

Overnight Developments

Sep E-mini S&Ps are trading higher by +0.49% led by a 3.9% increase in Morgan Stanley after the company was only downgraded two levels by Moody's Investors Service, rather than the three that the rating's company previously said was possible. Commodities are mixed with copper down -0.15% to a 2-week low, while crude oil is up 0.55% after prices rebounded from an 8-1/2 month low. The dollar index rose to a 1-week high with EUR/USD little changed, while JPY/USD slipped to a 5-week low.
The Euro Stoxx 50 index is trading down -0.08% after German business confidence fell more than expected to a 2-year low, while European bank stocks are weak with Credit Suisse AG down nearly 2% after its credit rating was cut three levels by Moody's. Spanish and Italian bond yields rose with 10-year Italian bond yields up 9 bp to 5.84% and Spanish 10-year yields up 7 bp to 6.68% on concern German Chancellor Merkel, who meets today for a summit in Rome with Italian Prime Minister Monti, Spanish Prime Minister Rajoy and French President Hollande, will block proposals to use the Euro-Zone bailout facilities to buy distressed European sovereign debt. Asian stocks today closed lower with Japan -0.29%, China closed for holiday, Australia -0.96%, South Korea -2.52% and India -0.35%.
The German Jun IFO business climate fell -1.6 to 105.3, weaker than expectations of a -1.3 point decline to 105.6 and its lowest reading in 2 years.
The IMF said Europe's crisis has reached a "critical stage" and that Euro-Zone countries must share debt and use rescue funds to recapitalize troubled banks directly to ensure the survival of the currency union.
According to two consulting firms hired by the Spanish government to conduct stress tests on Spanish lenders, Spain's banks would need as much as 62 billion euros in capital to withstand a worst-case scenario.
Spanish bank stocks rallied after the ECB late yesterday said it will relax rules on the collateral lenders can use for funding. The ECB lowered the minimum rating threshold for mortgage-backed securities to BBB- from A-. Spanish banks had been unable to use some securities as collateral because their ratings were too low.
India's rupee fell to a record low today of 57.27 per dollar on concern slower economic growth will reduce capital inflows. Q1 India GDP expanded at a 5.3% pace q/q, the weakest pace in 9 years.

Late yesterday after the U.S. markets closed, Moody's downgraded Morgan Stanley, Credit Suisse Group AG and 13 other international banks, citing "risk of outsized losses inherent to capital market activities."
Market Comments

Sep E-mini S&Ps this morning are trading up +6.50 points (+0.49%). The stock market on Thursday closed sharply lower: S&P 500 -2.23%, Dow Jones -1.96%, Nasdaq 100 -2.53%. Bearish factors on Thursday included very weak Philadelphia Fed report, the weak European and Chinese PMI reports, notification from Moody's that it would downgrade global banks after the close, and a recommendation from a Goldman Sachs analyst to short the S&P 500 index for a 5% downside trade. Weak economic data on Friday included the June Philadelphia Fed manufacturing index (down 10.8 points to -16.6), the decline in the June manufacturing PMIs for the Eurozone to 44.8 from May's 45.1 and for Germany to 44.7 from May's 45.2, and the decline in the China HSBC flash manufacturing PMI by 0.3 points to a 1-1/2 year low of 48.1 from May's 48.4. The Chinese HSBC manufacturing PMI has been below 50 for eight straight months.
Sep 10-year T-notes this morning are trading down -6 ticks. Sep 10-year T-note prices on Thursday closed mildly higher: TYU2 +4.5, FVU2 +3. T-note prices on Thursday closed mildly higher on increased safe-haven demand tied to the sharp sell-off in stocks and the weak U.S. economic data. There was also some carry-over support from the FOMC's announcement on Wednesday that it will purchase another $267 billion of 6-year to 30-year securities through year-end under its Operation Twist program.
The dollar index this morning is trading higher and at a 1-week high with EUR/USD +0.08 and USD/JPY unchanged. The dollar index on Thursday rallied sharply: Dollar Index +0.77 (+0.94%), EUR/USD -0.0156 (-1.23%), USD/JPY +0.75 (+0.94%). The dollar rallied on increased safe-haven demand with the sharp sell-off in the U.S. stock market, the weak U.S., European and Chinese economic data, and Moody's downgrade of 15 global banks. In addition, EUR/USD saw weakness as Germany appears to be taking a hard line on negotiations with Greece over easier austerity terms, which is likely to cause even more voter unrest across Europe.
Aug WTI crude oil prices this morning are up +0.43 (+0.55%) and Aug gasoline is +1.38 cents per gallon (+0.56%). Crude oil and gasoline prices on Thursday closed sharply lower: CLQ2 -3.20 (-3.93%), RBQ2 -0.0518 (-2.07%). Crude oil prices on Thursday fell sharply due to the rally in the dollar and the fresh economic data that indicated weaker global economic growth. Crude oil prices also continued to see weakness from Wednesday's weekly DOE report, which showed an unexpected 2.86 mln bbl rise in U.S. crude oil inventories to a 22-year high even though the refinery utilization rate is very high at 91.9% and should be causing a drawdown in oil inventories. The petroleum markets are carefully watching a big storm in the Gulf of Mexico that has a 70% chance of developing into a tropical cyclone and causing some disruptions to oil rigs in the Gulf and refineries on the Gulf coast.

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): CCL-Carnival (consensus $0.08), DRI-Darden Restaurants (1.15).
Global Financial Calendar

Friday 6/22/12
United States
1400 ET	USDA Cattle on Feed report.
1500 ET	USDA May Cold Storage.
Japan
0100 ET	Japan May supermarket sales, Apr -1.9% y/y.
Germany
0400 ET	German June IFO business climate index expected 105.6, May 106.9. June IFO current assessment index expected 112.0, May 113.3. June IFO expectations index expected 99.8, May 100.9.
CHI
n/a	Chinese markets closed for Dragon Boat Day holiday.

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

US Airways - LCC - Barchart's Chart of the Day

Barchart.coms Chart of the Day - US Airways (LCC)

Barchart Research Team - BC - Thu Jun 21, 4:50PM CDT

Related Stocks

LCC - US Airways Group Inc. New

Sym	Last	Chg	Pct
LCC	13.47	+0.44	+3.38%

The "Chart of the Day" is US Airways (LCC), which showed up on Thursday's Barchart "52-Week High" and "Gap Up" lists. US Airways was one of a limited number of stocks that even closed higher on Thursday as the S&P 500 index fell sharply by -2.23%. US Airways on Thursday posted a new 4-year high of $13.78 and closed up 3.38%. TrendSpotter has been long since May 24 at $12.16. In recent news on the stock, US Airlines on June 14 said that it expects "very strong" Q2 and full-year results and that speculation of its merger with American Airlines when American comes out of bankruptcy is helping its stock price. US Airways, with a market cap of $2 billion, is a major U.S.-based airline carrier with service in the U.S., Canada, Europe, the Caribbean, and Latin America.

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

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

Thursday, June 21, 2012

3 New Short term Highs

I used Barchart to screen stocks hitting new highs today and found 3 stocks that have had very recent and consistent upward momentum and should be considered for your watch lists: Perrigo (PRGO), Ironwood Pharmaceutical (IRWD) and Beam Inc (BEAM):

Perrigo (PRGO)

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 13.46% in the last month
Relative Strength Index 71.41%
Barchart computes a technical support level at 113.53
Recently traded at 114.09 with a 50 day moving average of 104.97

Ironwood Pharmaceuticals (IRWD)

Barchart technical indicators:

64% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
17 new highs and up 19.38% in the last month
Relative strength Index 73.96%
Barchart computes a technical support level at 13.61
Recently traded at 14.51 with a 50 day moving average of 12.61

Beam Inc (BEAM)

Barchart technical indicators:

88% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
16 new highs and up 11.93% in the last month
Relative Strength Index 62.22%
Barchart computes a technical support level at 61.42
Recently traded at 62.51 with a 50 day moving average of 58.73

BG Medicine - BGMD - Buy signs

Today I added BG Medicine (BGMD) to the Barchart Van Meerten Speculative portfolio

Barchart technical indicators:

80% Barchart short term technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
15 new highs and up 74.36% in the last month
Relative Strength Index 72.09%
Barchart computes a technical support level at 6.53
Recently traded at 6.97 with a 50 day moving average of 5.39

Ocwen Financial Corp - OCN - Buy Signals

This morning I added Ocwen Financial Corp (OCN) to the Barchart Van Meerten New High portfolio:

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 22.23% in the last month
Relative Strength Index 77.00%
Barchart computes a technical support level at 17.74
Recently traded at 18.23 with a 50 day moving average of 15.74

Barchart's Morning Call 6/21

Barchart Morning Call

BC - Wed Jun 20, 7:00AM CDT

Overnight Developments

Sep E-mini S&Ps are little changed ahead of today's FOMC meeting where the market is hoping for additional easing moves such as an extension of Operation Twist. Commodity prices are mixed with oil down -0.04%, gold down -0.70%, copper down -0.60%, and agricultural prices mixed. The dollar index is little changed. Sep 10-year T-notes are down -4.5 ticks on generally stable market conditions overnight.
The Euro Stoxx 50 index today is down -0.10%. Asian stocks today closed mostly higher on support from Tuesday's U.S. stock market rally: Japan +1.11%, Hong Kong +0.53%, China -0.23%, Taiwan +0.85%, Australia +0.22%, Singapore +0.47%, South Korea +0.64%, India +0.22%, Turkey +1.11%.
The Turkish stock market rallied by 1.11% today after Moody's raised its credit rating on Turkey by one notch to one step below investment grade.
The Spanish 10-year bond yield fell by 9 bp to 6.91% and the Italian bond yield fell by 9 bp. French President Hollande said today that Eurozone leaders are exploring ways for the ESM bailout fund to buy debt from countries such as Italy that have taken fiscal consolidation measures. France's labor minister said that France is pushing a debt redemption plan for pooling European debt.
Germany today sold 4.005 billion euros of 2-year notes at an average yield of only 0.10%.
New Democracy leader Samaras is expected to formally announce his coalition government later today with the Pasok and Democratic Left parties as coalition members. The new government first needs to discuss the extent to which Greece can get an easing of austerity terms in the bailout agreement. The government needs to satisfy conditions for another tranche of bailout money from the Eurozone before its cash runs out in mid July.
Procter & Gamble is down 1.6% in European trading after cutting its earnings and revenue guidance due to slowing growth in Europe and the U.S. The company cut its fiscal-Q4 organic sales growth forecast to 2-3% from 4-5%. Management cut its EPS ex-items guidance to $0.75-0.79 from $0.79-0.85, which is now less than the analyst consensus of $0.84. Procter & Gamble announced the changes in guidance at a conference in Paris. Unilever's CFO said today at the same conference that Europe is "difficult for everybody."
Japan's May exports rose by 10% y/y, which was a strong figure that provided some encouragement about global demand. Imports rose +9.3% y/y. Japan's May trade surplus was 907.3 billion yen ($11.5 billion), which was much wider than market expectations of 544 billion yen. Japan ran a trade deficit with Europe (11.1 billion yen) for the first ever since trade data began in 1979. Japan's shipments to the EU fell -0.9%, although that was more than offset by a 38% surge in shipments to the U.S.

Japan's parliament today passed a bill to provide $7.6 billion of sovereign insurance to tankers that carry Iranian oil. The European sanctions that begin on July 1 ban European insurance and reinsurance companies from covering tankers that carry Iranian oil, which means that 95% of tankers worldwide will lose their current insurance coverage. This requires sovereigns to step in to provide insurance to tankers carrying Iranian oil, thus providing another obstacle for Iranian oil exports starting July 1.
Market Comments

Sep E-mini S&Ps this morning are trading up +0.25 points as the market awaits the outcome of today's FOMC meeting. The stock market on Tuesday closed with fairly sharp gains: S&P 500 +0.98%, Dow Jones +0.75%, Nasdaq 100 +1.09%. Bullish factors included (1) increased optimism that the FOMC at its meeting that concludes today will announce further easing measures such as an extension of Operation Twist, and (2) the sharp 21 bp drop in the Spanish 10-year bond yield to 7.00%. The stock market was able to shake off the weak May housing starts report of -4.8% versus expectations of +0.7%.
Sep 10-year T-notes this morning are trading -4.5 ticks on reduced safe-haven demand as global stocks are stable. Sep 10-year T-note prices on Tuesday closed mildly lower: TYU2 -8, FVU2 -2.75. T-notes closed lower on reduced safe-haven demand with the rally in the stocks and the decline in the Spanish 10-year bond yield to 7.00%.
The dollar index this morning is virtually unchanged while EUR/USD is up +0.0005 (+0.04%) and USD/JPY is up +0.02 (+0.03%). The forex market is treading water ahead of the outcome of today's FOMC meeting. The dollar index on Tuesday closed moderately lower: Dollar Index -0.57 (-0.69%), EUR/USD +0.0109 (+0.87%), USD/JPY -0.16 (-0.20%). The dollar index closed lower on Tuesday on increased speculation about Fed easing and the improved situation in Europe. The Spanish 10-year bond yield fell sharply by 21 bp to 7.00% and the Greek political parties are on track to announce a new coalition government on Wednesday.
Aug WTI crude oil prices this morning are -0.03 (-0.04%), and Aug gasoline is -0.0149 (-0.58%) as the market awaits today's DOE report and the outcome of today's FOMC meeting. Crude oil and gasoline prices on Monday closed mixed: CLQ2 +0.75 (+0.90%), RBQ2 -0.0166 (-0.64%). Oil prices were boosted by the stock market rally and by the downgrade of the Iranian nuclear talks to the "technical level." The downgrade in the talks confirmed that the talks are going basically nowhere. However, an Israel official said yesterday that there is still time for sanctions and diplomacy to work, so the market did not step up expectations for a near-term Israeli military attack on Iran.

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): BBBY-Bed, Bath & Beyond (consensus $0.84), RHT-Red Hat (0.27), MU-Micron Tech (-0.20), CLC-Clarcor (0.70).
Global Financial Calendar

Wednesday 6/20/12
United States
0700 ET	Weekly MBA mortgage applications, last +18.0% with purchase sub-index +12.8% and refi sub-index +19.2%.
1030 ET	DOE Weekly Petroleum Status Report.
1230 ET	FOMC 2-day meeting concludes with policy decision announcement (federal funds rate target expected unchanged at zero to 0.25%).
1400 ET	FOMC releases projections of economic indicators and federal funds rate.
1415 ET	Fed Chairman Bernanke holds post-meeting press conference.
Japan
1950 ET	Japan May all-industry activity index expected +0.1% m/m, Apr -0.3% m/m
0300 ET	Japan May convenience store sales, Apr +6.1% y/y.
Germany
0200 ET	German May producer prices expected -0.2% m/m and +2.2% y/y, Apr +0.2% m/m and +2.4% y/y.
United Kingdom
0430 ET	Bank of England meeting minutes.
0430 ET	UK May unemployment claimant count rate expected 4.9%, Apr 4.9%. May claimant count change expected -4,000, Apr -13,700. UK Apr ILO unemployment rate expected 8.2%, Mar 8.2%. Apr employment change (3mo/3mo) expected +135,000, Mar +105,000.
0430 ET	UK Apr average weekly earnings expected +0.8% 3mo y/y, Mar +6.0% 3mo y/y. Apr weekly earnings ex-bonus expected +1.8% 3mo y/y, Mar +1.6% 3mo y/y.

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

Ulta Salon - ULTA - Barchart's Chart of the Day

Barchart.coms Chart of the Day - Ulta Salon (ULTA)

Barchart Research Team - BC - Wed Jun 20, 4:51PM CDT

Related Stocks

ULTA - Ulta Salon Cosmetics & Fragrance

Sym	Last	Chg	Pct
ULTA	96.32	-1.38	-1.41%

The "Chart of the Day" is Ulta Salon (ULTA), which showed up on Wednesday's Barchart "All-Time High" list. Ulta on Wednesday posted a new all-time high of $98.42 and closed up 0.97%. TrendSpotter has been long since June 12 at $94.26. In recent news on the stock, Ulta on June 5 reported Q1 EPS of 54 cents versus the consensus of 53 cents. The company opened 18 new stores in Q1 and reported same-store sales growth in Q1 of +10.1%. RW Baird on June 6 reiterated its Outperform rating and raised its target to $110 from $105 on strong Q1 results, along with new products and enhanced marketing. Ulta, with a market cap of $6 billion, is the largest beauty retailer that provides one-stop shopping for prestige, mass and salon products and salon services in the United States.

ulta_700

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

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