Financial Tides -- A Stock Market Investing Newsletter by Jim Van Meerten: 2012-08-19

Saturday, August 25, 2012

3 Great S and P 500 Large Caps

Today I used Barchart to screen the S&P 500 Large Cap Index stocks to find the 3 with the best technical indicators and found Watson Pharmaceuticals (WPI), H J Heinz (HNZ) and Discover Financial Services (DFS):

Watson Pharmaceuticals (WPI)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
3 new highs and up 11.55% in the last month
Relative Strength Index 71.30%
Barchart computes a technical support level at 79.35
Recently traded at 88.32 with a 50 day moving average of 76.28

H J Heinz (HNZ)

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 3.55% in the last month
Relative Strength Index 65.99%
Barchart computes a technical support level at 55.10
Recently traded at 56.27 with a 50 day moving average of 54.88

Discover Financial Services (DFS)

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 12.73% in the last month
Relative Strength Index 65.10%
Barchart computes a technical support level at 37.53
Recently traded at 38.60 with a 50 day moving average of 35.47

Sherwin Williams - SHW - Barchart Chart of the Day

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

Barchart Research Team - BC - Fri Aug 24, 7:05PM CDT

The "Chart of the Day" is Sherwin-Williams Company (SHW), which showed up on Friday's Barchart "All-Time High" list. Sherwin-Williams posted an all-time high Friday at $143.38 and closed up +2.02%. TrendSpotter has been long Sherwin-Williams since July 26 at $133.17. In recent news on the stock, Jim Cramer on his "Mad Money" show on Aug 14 said it was "time to go shopping for home-related stocks" due to improvement in the housing market and that Sherwin-Williams was a "Buy." On Aug 7, Sherwin-Williams reported Q2 earnings of $2.17 per share, beating analysts' estimates of $2.13 and that its first-half 2012 sales were $4.71 billion, up +11.9% y/y from $4.21 billion in the first-half of 2011. Sherwin-Williams, with a market cap of $14.445 billion, is a manufacturer, distributor and retailer of paint, coatings and related products. It is the one of largest paint companies in the United States and in the world. Well known brands include Sherwin-Williams, Dutch Boy, Pratt & Lambert, Martin-Senour, Thompson's, Minwax and Krylon.

shw_700_05

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

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

Barchart links for further information:

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

Friday, August 24, 2012

3 Stocks for your Watch Lists

3 stocks I'd like to highlight from Barchart's New High list are Canadian Imperial Bank of Commerce (CM), Alti Nanotechnologies (ALTI) and Brocade Communications Systems (BRCD):

Canadian Imperial Bank of Commerce (CM)

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 9.91% in the last month
Relative Strength Index 72.98%
Barchart computes a technical support level at 75.41
Recently traded at 77.09 with a 50 day moving average of 72.29

Alti Nanotechnologies (ALTI)

Barchart technical indicators:

48% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
17 new highs and up 39.58% in the last month
Relative Strength Index 65.24%
Barchart computes a technical support level at .54
Recently traded at .60 with a 50 day moving average of .50

Brocade Communications Systems (BRCD)

Barchart technical indicators:

80% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
17 new highs and up 25.79% in the last month
Relative Strength Index 75.48%
Barchart computes a technical support level at 5.74
Recently traded at 5.94 with a 50 day moving average of 5.03

Barchart Morning Call 8/24

Barchart Morning Call

BC - Fri Aug 24, 7:00AM CDT

Overnight Developments

Sep E-mini S&Ps this morning are trading down -0.13% and the Euro Stoxx 50 is down -0.23%. EUR/USD weakened -0.33% after German lawmaker Kauder said Germany can't make more money available for Greece. Most Commodities are weaker with Oct crude down -0.44% and Sep copper down -0.82%, although grain prices are higher with Dec corn up +0.77% and Nov soybeans up +0.87%. Sep T-notes are up +4 ticks.
Asian stocks closed lower after weekly U.S. jobless claims rose more than expected and as concern intensified that European leaders are making little progress on the debt crisis: Japan -1.17%, Hong Kong -1.25%, China -1.15%, Australia -0.79%, South Korea -1.38%, India -0.38%. Asian mining stocks and the Australian dollar also fell after RBA Governor Stevens said that Australia's mining investment boom will peak "within the next year or two."
Volker Kauder, parliamentary caucus leader for German Chancellor Merkel's Christian Democratic Union, said Germany cannot extend funding for Greece and that Greece's exit from the euro would "not be a problem for the euro."
German government spokesman Seibert said that future decisions on Greece will depend on the results of a review of the country's economic reform efforts by its international creditors. Greek Prime Minister Samaras is scheduled to meet with German Chancellor Merkel and French President Hollande this weekend to try to persuade them to allow Greece 2 more years to meet its deficit targets, which would allow Greece to spread its cutbacks to 2016 instead of 2014, as stated in its previous bailout agreement.
U.K. Q2 GDP was revised upward to -0.5% q/q and -0.5% y/y from the originally reported -0.7% q/q and -0.8% y/y.

Weekly Shanghai copper inventories rose +2,787 MT to 158,938 MT, their first increase in the last 3 weeks.
Market Comments

Sep E-mini S&Ps this morning are down -1.75 points (-0.13%). The stock market on Thursday closed moderately lower: S&P 500 -0.81%, Dow Jones -0.88%, Nasdaq 100 -0.77%. Bearish factors included (1) continued long liquidation pressure after the S&P 500 index on Tuesday hit a new 4-year high, (2) the 4,000 rise in initial unemployment claims, (3) hawkish comments by St. Louis Fed President Bullard, who called the FOMC minutes "stale" due to the recent stronger economic data and thus downplayed the chances of QE3, (4) the weak Chinese PMI report of -1.5 points to 47.8, and (5) the generally weak Eurozone PMI indexes.
Sep 10-year T-notes this morning are up 4 ticks. T-note prices on Thursday extended Wednesday's sharp rally: TYU2 +12, FVU2 +3.75. Bullish factors included increased safe-haven demand with the fairly sharp sell-off in stocks and continued hopes for QE3 in September.
The dollar index this morning is up +0.24% with EUR/USD down -0.33% USD/JPY unchanged. The dollar index on Thursday extended the downside breakout and closed mildly lower: Dollar index -0.13 (-0.15%), EUR/USD +0.0036 (+0.29%), USD/JPY -0.08 (-0.10%). The dollar posted a new 2-month low and nearly took out the 3-month low posted in mid-June. EUR/USD posted a new 1-1/2 month high. The dollar continued to show weakness on the speculation about QE3. However, gains in EUR/USD were limited as Eurozone officials appear to have little idea at present about how to handle Greece.
Oct WTI crude oil prices this morning are down -42 cents a barrel (-0.44%) and Oct gasoline is up +0.0002 cent a gallon (+0.01%). Oct crude oil prices on Thursday rallied to a new 3-month high and Sep gasoline rallied to a new 4-month high but then fell on long liquidation pressure sparked by the weakness in stocks: CLV2 +0.58 (+0.60%), RBU2 +0.0339 (+1.18%). Crude oil prices were also hurt by the weak Chinese Aug manufacturing PMI report of -1.5 to 47.8 and the weak European PMI reports.

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 (ranked by market cap): Madison Square (Consensus $0.20), Teekay Offshore (0.29), PSS-Collective Brand (0.23).
Global Financial Calendar

Friday 8/24/12
United States
0830 ET	July durable goods orders expected +2.5%, June +1.3%. July durable goods orders ex-transportation expected +0.5%, June -1.4%.
Japan
0345 ET	BOJ Governor Shirakawa holds a press conference.
Euro-Zone
0400 ET	Spain's cabinet meets followed by a news conference.
United Kingdom
0430 ET	Revised U.K. Q2 GDP, previous -0.7% q/q and -0.8% y/y.

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

Regeneron Pharmaceuticals - REGN - Barchart's Chart of the Day

Barchart.coms Chart of the Day - Regeneron Pharmaceuticals (REGN)

Barchart Research Team - BC - Thu Aug 23, 5:24PM CDT

The "Chart of the Day" is Regeneron Pharmaceuticals (REGN), which showed up on Thursday's Barchart "All-Time High" list. Regeneron on Thursday rallied to a new all-time high of $145.81 and closed +2.94%. TrendSpotter has been long since July 26 at $135.64. In recent news on the stock, Lazard Capital on Aug 7 initiated coverage on Regeneron with a Neutral. On Aug 3, the FDA approved Regeneron's Zaltrap cancer treatment drug. BMO Capital on Aug 1 reiterated its Outperform rating and its $158 target. Regeneron Pharmaceuticals, with a market cap of $13 billion, is a biopharmaceutical company that discovers, develops, and commercializes therapeutic drugs for the treatment of serious medical conditions.

regn_700_02

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: 33% Buy
Overall Average 88% Buy

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

Procter and Gamble

http://www.thestreet.com/story/11674089/1/iras-should-love-procter-gamble.html

Thursday, August 23, 2012

APPL, GOOG, GE

Apple (AAPL), Google (GOOG) and General Electric (GE) are 3 of the most widely followed stocks on the Internet. Let's use Barchart and see how they are doing:

Apple (AAPL)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
12 new highs and up 10.69% in the last month
Relative Strength Index 74.70%
Barchart computes a technical support level at 641.10
Recently traded at 668.87 with a 50 day moving average of 604.65

Google (GOOG)

Barchart technical indicators:

96% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
12 new highs and up 10.86% in the last month
Relative Strength Index 75.27%
Barchart computes a technical support level at 660.93
Recently traded at 677.18 with a 50 day moving average of 607.77

General Electric (GE)

Barchart technical indicators:

32% Barchart technical buy signal
Trend Spotter buy signal
Above its 50 and 100 day moving averages but below its 20 day moving average
7 new highs and up 4.58% in the last month
Relative Strength Index 53.46%
Barchart computes technical support level at 20.63
Recently traded at 20.78 with a 50 day moving average of 20.31

Barchart Morning Call 8/23

Barchart Morning Call

BC - 1 hr 27 mins ago

Overnight Developments

Sep E-mini S&Ps this morning are trading slightly higher by +0.23%, supported by continued optimism about yesterday's FOMC minutes and dovish comments today by Chicago Fed President Evans on his visit to China. The Euro Stoxx 50 index this morning is up +0.16%. Commodity prices are up by an average +0.45% this morning. The stock and commodity markets today have been able to shake off the weaker-than-expected chinese PMI report of 47.8, which was down by 1.5 point from July.
Asian stock markets today closed higher: Japan +0.51%, Hong Kong +1.23%, China +0.29%, Taiwan +0.11%, Australia +0.18%, Singapore +0.23%, South Korea +0.42%, India +0.02%, Turkey +0.11%.
German Chancellor Merkel meets today in Berlin with French President Hollande with the main topic of discussion being the Spanish and Greek bailouts. Greek Prime Minister Samaras will then meet with Ms. Merkel on Friday and with Mr. Hollande on Saturday.
Chicago Fed President Charles Evans told reporters in Beijing today that he has already decided that the Fed needs to take more easing action and he urged other central banks around the world to do the same. He said, "I don't need to see any more data to know that I think we should have more accommodation. I certainly would applaud anybody who takes action in order to strengthen their economies" around the world, including China. He added that QE3 would "provide confidence to the markets that we are intending to be accommodative for quite some time." Mr. Evans is not currently a member of the FOMC although he is an alternate member and attends FOMC meetings.
China's flash estimate for the Aug PMI from HSBC/Markit fell by 1.5 point to 47.8 from 49.3 in July, which was the weakest level since November and the tenth consecutive month below the expansion-contraction level of 50.0.
Today's German and Eurozone PMI reports were all below the expansion-contraction level of 50.0. The manufacturing PMI reports were stronger than expected while the services PMI reports were weaker than expected.
The German Aug manufacturing PMI report of 45.1 rose by 2.1 points from July's 43.0 and was much stronger than market expectations for a 0.4 point increase to 43.4. However, the German Aug services PMI of 48.3 was down by 2.0 points from July's 50.3 and was weaker than market expectations for a 0.2 point drop to 50.1.

The Eurozone Aug manufacturing PMI report 45.3 was up by 1.3 point from July's 44.0 and was stronger than market expectations for a 0.2 point increase to 44.2. However, the Aug Eurozone services PMI of 47.5 was down by 0.4 points from July's 47.9 and was weaker than market expectations for a 0.2 point drop to 47.7.
Market Comments

Sep E-mini S&Ps this morning are up +3.25 points (+0.23%) on higher European stocks, dovish comments by Chicago Fed President Evans, and carry-over optimism from yesterday's FOMC minutes that raised hopes for a QE3 announcement at the FOMC's next meeting on Sep 12-13. The stock market on Wednesday showed weakness early on the poor Japanese export report and nervousness about this week's European crisis meetings, but then rallied after the FOMC minutes and closed mixed: S&P 500 +0.02%, Dow Jones -0.23%, Nasdaq 100 +0.40%.
Sep 10-year T-notes this morning are up by another 6 ticks on hopes for QE3 by September. T-note prices on Wednesday closed sharply higher after the July 31-Aug 1 FOMC minutes said that "many members judged that additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery:" TYU2 +22.5, FVU2 +12.25. The FOMC minutes made QE3 a very real possibility for as soon as September.
The dollar index this morning is trading slightly lower by -0.03 (-0.04%) and EUR/USD is up +0.0011 (+0.09%). USD/JPY is up +0.07 (+0.09%). The dollar index on Wednesday extended Tuesday's technical breakdown to a new 1-1/2 month low: Dollar index -0.42 (-0.51%), EUR/USD +0.0056 (+0.45%), USD/JPY -0.71 (-0.90%). The dollar index was undercut on Wednesday by the FOMC minutes, which made further Fed easing appear more likely over the near-term, which would be bearish for the dollar index.
Oct WTI crude oil prices this morning are up +0.49 (+0.50%) and Oct gasoline is up +0.0246 (+0.84%) on general commodity strength and on Tropical Storm Isaac, which is expected to grow into a hurricane and move into the eastern part of the Gulf of Mexico by Monday. Oct crude oil prices on Wednesday rallied to a new 3-month high and Sep gasoline rallied to a new 4-month high: CLV2 +0.58 (+0.60%), RBU2 +0.0339 (+1.18%). Bullish factors included the sharp drop in the dollar index, economic optimism if the Fed goes ahead with QE3 in September, and the sharp 5.4 million barrel drop in U.S. crude oil inventories, which was much larger than expectations for a small drop of 300,000 barrels.

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 (ranked by market cap): CRM-Salesforce.com (Consensus $0.39), ADSK-Autodesk (0.49), HRL-Hormel Foods (0.41), SIG-Signet Jewelers (0.83), PDCO-Patterson (0.49), MCRS-Micros Systems (0.60).
Global Financial Calendar

Thursday 8/23/12
United States
0830 ET	Weekly initial unemployment claims expected -1,000 to 365,000, previous +2,000 to 366,000. Weekly continuing claims expected -5,000 to 3.300 million, previous -31,000 to 3.305 million.
0830 ET	USDA weekly exports.
1000 ET	July new home sales expected +4.3% to 365,000, June -8.4% to 350,000.
1000 ET	June FHFA house price purchase only index expected +0.6% m/m, May +0.8% m/m. Q2 FHFA house price purchase only index expected +2.6% q/q, Q1 +0.6% q/q.
1030 ET	DOE natural gas storage.
1100 ET	Treasury announces amounts of 2-year T-notes (previous $35 billion), 5-year T-notes (previous $35 billion) and 7-year T-notes (previous $29 billion) to be auctioned Aug 28-30.
1300 ET	Treasury auctions $14 billion 5-year TIPS.
1630 ET	Weekly money supply report and Fed balance sheet.
Germany
0200 ET	Revised German Q2 GDP, previous +0.3% q/q and +1.0% y/y.
0330 ET	German Aug PMI manufacturing expected +0.4 to 43.4, July -2.0 to 43.0.
0330 ET	German Aug PMI services expected -0.2 to 50.1, July +0.4 to 50.3.
Euro-Zone
0400 ET	Euro-Zone Aug PMI composite expected unchanged at 46.5, July +0.1 to 46.5.
1000 ET	Euro-Zone Aug consumer confidence expected -0.5 to -22.0, July -1.7 to -21.5.
United Kingdom
0600 ET	U.K. Aug CBI reported sales expected 18, July 11.
Japan
1950 ET	Japan July corporate service price index expected -0.2% y/y, Jun -0.3% y/y.

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

Whole Foods - WFM - Barchart's Chart of the Day

Barchart.coms Chart of the Day - Whole Foods Market (WFM)

Barchart Research Team - BC - Wed Aug 22, 5:38PM CDT

The "Chart of the Day" is Whole Foods Market (WFM), which showed up on Wednesday's Barchart "All-Time High" list. Whole Foods on Wednesday posted a new all-time high of $97.75 and closed +1.10%. TrendSpotter has been long since Aug 16 at $95.93. In recent news on the stock, S&P on Aug 7 raised Whole Foods' corporate credit rating to BBB- from BB+, citing the company's strong operating trends. On Aug 3, Morgan Stanley upgraded Whole Foods to Overweight from Neutral with a price target of $110 based on valuation, earnings power, and continued margin growth. Whole Foods Market, with a market cap of $17 billion, owns and operates the country's largest chain of natural food supermarkets.

wfm_700_03

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

Linktone buy signals

Today I added Linktone (LTON) to the Barchart Van Meerten Speculative portfolio:

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
17 new highs and up 29.49% in the last month
Relative Strength Index 77.12%
Barchart computes a technical support level at 1.83
Recently traded at 2.02 with a 50 day moving average of 1.59

A Shulman and Brocade Communications Systems buy signals

Today I added A. Shulman (SHLM) and Brocade Communications Systems (BRCD) to the Barchart Van Meerten New High portfolio:

A. Shulman (SHLM)

Barchart technical indicators:

80% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving average
19 new highs and up 12.00% in the last month
Relative Strength Index 69.55%
Barchart computes a technical support level at 24.08
Recently traded at 24.45 with a 50 day moving average of 21.12

Brocade Communications Systems (BRCD)

Barchart technical indicators:

80% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
17 new highs and up 21.12% in the last month
Relative Strength Index 73.41%
Barchart computes a technical support level at 5.72
Recently traded at 5.85 with a 50 day moving average of 4.97

Wednesday, August 22, 2012

3 Great Small Caps

Today I used Barchart to screen a list of small cap stocks that analysts think have a chance to beat the market to find those with the best technical indicators and found Streamline Health Solutions (STRM), Repos Therapeutics (RPRX) and Reeds (REED):

Streamline Health Solutions (STRM)

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 36.01% in the last month
Relative Strength Index 67.99%
Barchart computes a technical support level at 4.51
Recently traded at 4.83 with a 50 day moving average of 3.81

Repos Therapeutics (RPRX)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and100 day moving averages
5 new highs and up 27.51% in the last month
Relative Strength Index 72.31%
Barchart computes a technical support level at 10.42
Recently traded at 11.27 with a 50 day moving average of 8.94

Reeds (REED)

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 68.32% in the last month
Relative Strength Index 80.53%
Barchart computes a technical support level at 5.93
Recently traded at 6.70 with a 50 day moving average of 4.16

Barchart's Morning Call 8/22

Barchart Morning Call

BC - 2 hrs 45 mins ago

Overnight Developments

Sep E-mini S&Ps this morning are trading mildly lower by -0.30%, pressured by a -0.83% sell-off in European stocks and a very weak Japanese export report that indicated weak Asian economic growth. Commodity prices are down by -0.37%, with Oct crude oil down -0.44%, Dec gold down -0.07%, Sep copper down -0.45%, and agricultural prices trading mostly lower. The dollar index is slightly higher by +0.11% and EUR/USD is down -0.20%. Sep 10-year T-notes are up 6.5 ticks.
Asian stocks today closed lower across the board: Japan -0.27%, Hong Kong -1.06%, China -0.78%, Taiwan -0.14%, Australia -0.17%, Singapore -0.53%, South Korea -0.50%, India -0.21%, Turkey -0.12%. The Chinese stock market was undercut by the weak Japanese export report and by a report in China's Legal Evening News that Hubei province is proposing property-tax rules.
On the European debt crisis front, Luxembourg Finance Minister Jean-Claude Juncker, the head of the Eurozone group of finance ministers, visits Athens today to meet with Greek Prime Minister Samaras and hear his plea for a 2-year delay in Greece's austerity targets. Mr. Samaras said before the meeting that Greece is just asking for more time, not necessarily more bailout money. German Chancellor Merkel and French President Hollande then meet in Berlin on Thursday to discuss debt crisis measures. Greek President Samaras will then separately meet with Ms. Merkel and Mr. Hollande on Friday and Saturday.
Japan last night reported an unadjusted July trade deficit of -517.4 billion yen (-$6.5 billion), wider than market expectations of -270 billion yen. On a seasonally adjusted basis, Japan's July trade deficit of -325.7 billion yen was narrower than market expectations of -451 billion yen. The report showed that Japan's July exports fell -8.1% y/y, which was much weaker than expectations of -2.9% y/y and weaker than June's report of -2.3% y/y. The report showed that exports to China fell -12% y/y and that exports to Europe plunged -25% y/y. The report indicating weakening overall economic growth in Japan tied to China's slower economic growth and Europe's recession.

Chicago Fed President Evans told reporters in China today that a weakening in global trade is "awful." He said the Fed will consider whether it needs to step up monetary easing given the current circumstances on the economy and financial stability.
Market Comments

Sep E-mini S&Ps this morning are down -4.25 points (-0.30%) due to the -0.83% sell-off in the Euro Stoxxx 50 index, the weak Japanese export report, and weakness in the PC sector after negative news from Dell. Dell is down 4.6% in European trading this morning after the company cut its fiscal 2013 earnings forecast due to weaker personal computer sales, saying that Q3 revenue will drop 2-5% from the previous quarter. The stock market on Tuesday closed mildly lower: S&P 500 -0.35%, Dow Jones -0.51%, Nasdaq 100 -0.44%. The S&P 500 on Tuesday posted a new 4-year high on optimism about the European debt crisis but then lost ground after a 1.4% sell-off in Apple helped to drag down the technology sector.
Sep 10-year T-notes this morning are up 6.5 ticks on some increased safe-haven demand with today's sell-off in global stocks and the weak Japanese exports report. T-note prices on Tuesday closed slightly higher: TYU2 +3, FVU2 +0.25. T-notes were able to close higher on reduced safe-haven demand with the lower close in the stock market.
The dollar index this morning is trading slightly higher by +0.09 (0.11%) and EUR/USD is down -0.0025 (-0.20%) on some increased dollar safe-haven demand with the impending European crisis meetings and the weak Japanese trade report that showed a 25% y/y plunge in Japanese exports to Europe. USD/JPY is little changed this morning. The dollar index on Tuesday closed sharply lower on a technical breakdown to a new 1-1/2 month low: Dollar index -0.55 (-0.67%), EUR/USD +0.0127 (+1.03%), USD/JPY -0.14 (-0.18%). EUR/USD rallied to a new 1-1/2 month high on increased optimism about the European debt crisis after key German lawmakers indicated there is room for some concessions for Greece in terms of a lower interest rate and a longer maturity on its bailout loans.
Oct WTI crude oil prices this morning are trading -0.43 (-0.44%) and Oct gasoline is down -0.0211 (-0.73%) on concern about global economic growth with the weak Japanese export report. Oct crude oil prices on Wednesday rallied to a new 3-month high and closed moderately higher: CLV2 +0.58 (+0.60%), RBU2 +0.0339 (+1.18%). Bullish factors included the sharp drop in the dollar index, improved economic sentiment with the recent rally in global stocks, and Tuesday's news of a sharp 6 million barrel drop in oil inventories in the API's weekly inventory report. The market consensus for Wednesday's weekly DOE report is now for a 250,000 barrel decline in crude oil inventories, a 1.4 million barrel drop in gasoline inventories, a 1 million barrel rise in distillate inventories, and a 0.2 point drop in the refinery utilization rate to 92.4% from 92.6% last week.

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 (ranked by market cap): HPQ-Hewlett-Packdard (Consensus $0.98), TOL-Toll Brothers (0.18), SNPS-Synopsys (0.50), AEO-American Eagle Outfitters (0.21), FMCN-Focus Media (0.59), EV-Eaton Vance (0.47), GES-Guess (0.51), CHS-Chico's Fas (0.30), HAIN-Hain Celestial (0.45).
Global Financial Calendar

Wednesday 8/22/12
United States
0700 ET	Weekly MBA mortgage applications, previous -4.5% with purchase sub-index -2.0% and refi sub-index -5.1%.
1000 ET	July existing home sales expected +3.3% to 4.52 million, June -5.4% to 4.37 million.
1030 ET	DOE Weekly Petroleum Status Report.
1400 ET	Minutes of the July 31-Aug 1 FOMC meeting.
2330 ET	Chicago Fed President Evans holds a press briefing at the U.S. embassy in Beijing, China.
CHI
2230 ET	China Aug HSBC flash manufacturing PMI, July 49.3.

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

Amdocs Limited - DOZ - Barchart of the Day

Barchart.coms Chart of the Day - Amdocs Limited (DOX)

Barchart Research Team - BC - Tue Aug 21, 6:26PM CDT

The "Chart of the Day" is Amdocs Limited (DOX), which showed up on Tuesday's Barchart "52-Week High" list. Amdocs on Tuesday posted a new 4-high of $32.58 and closed +0.56%. TrendSpotter has been long since Aug 3 at $30.59. In recent news on the stock, Amdocs on Aug 1 reported Q3 non-GAAP EPS of 70 cents, above the consensus of 67 cents, and raised its 2012 non-GAAP EPS growth view to 14-16% from 12-14%. Amdocs Limited, with a market cap of $5 billion, is a leading provider of customer care, billing and order management systems for communications and Internet services.

dox_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: 33% Buy
Overall Average 80% Buy

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Abbott Labs - ABT

http://www.thestreet.com/story/11670862/1/abbott-labs-outpacing-the-sector.html

Monday, August 20, 2012

FaceBook - How Low Can It Go?

Readers want to know where Facebook (FB) seems headed and I'll let the technical indicators and charts tell you that:

Barchart technical indicators:

34.42% down during the month
50.67% off its previous high
Relative Strength Index 28.71%
Recently traded at 18.84 which is below its 50 day moving average of 27.10

Conclusion: Only seems to be one conclusion - the support level has still not been reached

Growth Stocks with Great Technicals

This morning I used a list of stocks analysts list as high growth to find the ones with the best Barchart technical indicators and found Ebay (EBAY), Urban Outfitters (URBN) and SEI Investment Company (SEIC)

Ebay (EBAY)

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 19.96% in the last month
Relative Strength Index 65.23%
Barchart computes a technical support level at 45.26
Recently traded at 46.87 with a 50 day moving average of 42.60

Urban Outfitters (URBN)

Barchart technical indicators:

96% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
2 new highs and up 2.65% in the last month
Relative Strength Index 62.01%
Barchart computes a technical support level at 30.44
Recently traded at 31.40 with a 50 day moving average of 29.09

SEI Investment Company (SEIC)

Barchart technical indicators:

96% Barchart technical buy signal
Trend Spotter buy signal
Above its 20. 50 and 100 day moving average
6 new highs and up 10.06% in the last month
Relative Strength Index 65.01%
Barchart computes a technical support level at 21.47
Recently traded at 21.89 with a 50 day moving average of 20.21

Barchart's Morning Call 8/20

Barchart Morning Call

BC - 1 min ago

Overnight Developments

Sep E-mini S&Ps this morning are trading slightly higher by +0.11% on support from a 0.50% rally in European stocks and on the Der Spiegel report that the ECB is considering a plan to cap Eurozone peripheral bond yields. Commodity prices are trading mildly higher by +0.31% on average with Oct crude oil up +0.05%, Dec gold down -0.11%, Sep copper down -0.94%, and agricultural prices trading higher. The dollar index is trading slightly lower by -0.03% and EUR/USD is down -0.13%. Sep 10-year T-notes are down -8 ticks.
Asian stocks today closed mostly lower on reduced hopes for Chinese easing with the strongest home price report in 14 months: Japan +0.09%, Hong Kong -0.06%, China -0.51%, Taiwan -0.48%, Australia -0.13%, South Korea -0.07%.
The Bundesbank today said that the ECB's plan to begin a government bond purchase program entails "significant stability risks." The Bundesbank said that the sharing of solvency risks is a decision that should be taken by governments or parliaments, not by the ECB.
Der Spiegel reported over the weekend that the ECB is considering setting yield caps on peripheral sovereign bond yields with the potential for essentially unlimited bond buying. The Spanish 10-year bond yield today fell sharply by 20 bp to 6.21% and the Italian bond yield fell by 6 bp to 5.71% on the Der Spiegel report.
The Chinese central bank has no plans over the short-term to cut bank reserve-requirement ratios, according to commentary in the Chinese central bank's Finance News. Over the weekend, data showed that China home prices rose in 49 of the 70 cities tracked by the government survey, the best report in 14 months. The report reduced hopes for further stimulus measures from the Chinese government, which is trying to clamp down on property prices.

Japan's June final-June leading index rose 0.6 points to 93.2 from the previous report of 92.6.
Market Comments

Sep E-mini S&Ps this morning are up +1.50 points (+0.11%), supported by this morning's 0.50% rally in the Euro Stoxx 50 and the report that the ECB is considering yield caps on peripheral bond yields. The stock market on Friday fluctuated on both sides of unchanged early and then pushed higher late and closed with modest gains on better-than-expected economic data: S&P 500 +0.19%, Dow Jones +0.19%, Nasdaq 100 +0.44%. Stock prices were supported Friday on reduced European debt concerns after Spain's 10-year bond yield fell to a 6-week low and as Aug U.S. University of Michigan consumer confidence and July leading indicators strengthened more than expected.
Sep 10-year T-notes this morning are down 8 ticks on reduced safe-haven demand with the report that the ECB is considering yield caps. T-note prices on Friday moved higher on short covering and finished with moderate gains as they snapped a 4-session decline: TYU2 +4.5, FVU2 +2.2. An unexpected increase in the Aug U.S. University of Michigan consumer confidence and a drop in the Spanish 10-year bond yield to a 6-week low reduced safe-haven demand for T-notes and capped Friday's advance.
The dollar index this morning is down -0.024 (-0.03%). EUR/USD is down -0.0016 (-0.13%) after the news of Bundesbank opposition to the ECB's bond buying program offset the weekend Der Spiegel report that the ECB is considering yield caps. USD/JPY is down -0.04 (-0.05%). The dollar index on Friday shook off early losses and closed higher after the yield spread between U.S. and German 10-year government securities widened to a 2-1/2 month high of 32 bp, which improved the dollar's interest rate differentials and undercut the euro: Dollar index +0.239 (+0.29%), EUR/USD -0.19%, USD/JPY +0.28%. The yen fell to a 1-month low against the dollar on reduced safe-haven demand as investors sold the yen in favor of higher-yielding, higher-risk assets.
Oct WTI crude oil prices this morning are trading slightly higher by +0.05 (+0.05%) and Oct gasoline is up +0.0114 (+0.40%) on improved economic sentiment with this morning's modest rally in U.S. and European stocks. Crude oil and gasoline prices on Friday posted 3-month highs early but then shed their gains and settled mixed after a White House spokesperson said the release of crude form the SPR to increase crude supplies "is an option that is on the table," and after the API said U.S oil demand in July fell -2.7% y/y to a nearly 4-year low of 18.1 million barrels a day: CLU2 +0.41 (+0.43%), RBU2 -0.0557 (-1.81%). Energy prices were supported early in the session on the stronger-than-expected Aug University of Michigan consumer confidence along with heightened Middle East tensions after Hezbollah's chief said Iran's response to an attack by Israel would be "huge."

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 (ranked by market cap): LOW-Lowe's (Consensus $0.70), URBN-Urban Outfitters (0.33), NDSN-Nordson (0.99), CIM-Chimera Investment (0.10), CUB-Cubic Corp. (0.77).
Global Financial Calendar

Monday 8/20/12
United States
0830 ET	July Chicago Fed national activity index, June -0.15.
1100 ET	USDA weekly grain export inspections.
1130 ET	Weekly 3-mo and 6-mo T-bill auctions.
1600 ET	USDA Crop Progress
Japan
0100 ET	Revised Japan Jun leading index CI, previous 92.6.. Revised Jun coincident index CI, previous 93.8.
Germany
0200 ET	German Finance Ministry publishes monthly report for Aug.
Euro-Zone
0500 ET	Jun Euro-Zone construction output, May +0.1% m/m and -8.4% y/y.

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

Apple - AAPL - Barchart's Chart of the Day

Barchart.coms Chart of the Day - Apple (AAPL)

Barchart Research Team - BC - Fri Aug 17, 6:15PM CDT

The "Chart of the Day" is Apple (AAPL), which showed up on Friday's Barchart "All-Time High" list. Apple gapped higher Friday and posted an all-time high at $648.19 and closed up +1.85%. TrendSpotter has been long Apple since Aug 3 at $615.70. In recent news on the stock, Jefferies & Co. analyst Peter Misek raised his price target on the stock to $900 from $800 on Friday, saying an "iPad Mini" is in production in China. His belief is based on readings of reports from Apple's suppliers, contract manufacturers and contacts in the region. He now believes Apple will build 25 million iPads of all kinds in the current quarter, up from a previous estimate of 16 million, which did not include the "Mini." Analysts now believe the iPhone 5 will go on sale in late September, and it's widely believed that it will be the biggest phone launch ever. Rumored upgrades include the ability to access the latest wireless data networks in the U.S. and a slightly bigger screen. Apple, with a market cap of $589.9 billion, designs, manufactures and markets personal computers and related personal computing and communicating solutions for sale primarily to education, creative, consumer, and business customers.

aapl_700_01

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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