Financial Tides -- A Stock Market Investing Newsletter by Jim Van Meerten: 2012-11-04

Friday, November 9, 2012

5 NASDAQ 100 picks

I'm still not investing my cash yet but for those who do want back into the market I screened the NASDAQ 100 Index to screen for the 5 with the best Barchart technical indicators and charts. Near the top of my list are C H Robinson (CHRW), Maxim Integrated Products (MXIM), Mylan (MYL), Yahoo! (YHOO) and Texas Instruments (TXN):

C H Robinson Worldwide (CHRW)

Barchart technical indicators:

96% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
5 new highs and up 2.52% in the last month
Relative Strength Index 56.01%
Barchart computes a technical; support level at 60.32
Recently traded at 61.50 with a 50 day moving average of 58.99

Maxim Integrated Products (MXIM)

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 3.13% in the last month
Relative strength Index 58.79%
Barchart computes a technical support level at 28.37
Recently traded at 28.68 with a 50 day moving average of 27.35

Mylan (MYL)

Barchart technical indicators:

96% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
6 new highs and up 4.48% in the last month
Relative strength Index 63.50%
Barchart computes a technical support level at 25.38
Recently traded at 25.65 with a 50 day moving average of 24.36

Yahoo! (YHOO)

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 7.55% in the last month
Relative Strength Index 67.78%
Barchart computes a technical support level at 17.05
Recently traded at 17.24 with a 50 day moving average of 15.93

Texas Instruments (TXN)

Barchart technical indicators:

72% Barchart technical buy signal'
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
9 new highs and up 4.11% in the last month
Relative strength Index 54.82%
Barchart computes a technical support level at 28.87
Recently traded at 29.14 with a 50 day moving aver4gae of 28.45

MORE STOCK PICKS

Barchart Morning Call 11/9

Barchart Morning Call

BC - 42 mins ago

Overnight Developments

Dec E-mini S&Ps this morning are down -0.27% as concerns about the U.S. fiscal cliff have caused a global sell-off in stocks. European stocks this morning are down -0.69% and Asian stocks closed lower across the board. Japanese stocks closed down -0.90%, Hong Kong closed down -0.85%, and China closed down -0.20%. Global stocks at least received a little support from slightly stronger-than-expected Chinese economic data. Commodity prices are down by -0.12% this morning with Dec crude oil down -0.45%, Dec gasoline +0.07%, Dec gold +0.26%, Dec copper -1.33% , and agriculture prices trading mostly lower. The USDA in today's WASDE report is expected to make relatively minor changes in its crop estimates. The dollar index is up +0.20% this morning on increased safe-haven demand, while EUR/USD is down -0.21%. Dec 10-year T-notes are up 8 ticks.
President Obama today at 1:05 PM is due to make a statement at the White House about the economy and the fiscal outlook. The comments are not likely to be detailed, but the markets will be listening carefully to gauge the extent that President Obama may be willing to compromise on the fiscal cliff and possibly a grand bargain.
China's economic data released last night was slightly stronger than expected. The Oct industrial production report of +9.6% y/y was stronger than market expectations of +9.4% and was up from +9.2% in Sep. The Oct retail sales report of +14.5% y/y was slightly stronger than market expectations of +14.4% and was up from +14.2% y/y in Sep. The Oct fixed asset investment (excluding rural) report of +20.7% y/y of +20.7% was stronger than market expectations of +20.6% and was up from +20.5% in Sep. Meanwhile, the Oct CPI rate of +1.7% y/y was weaker than market expectations of +1.9% y/y and Sep's report of +1.9% y/y, which gives the Chinese central bank a little more flexibility on monetary policy to either cut the reserve ratio or interest rates.
China's Oct passenger-vehicle wholesale deliveries rose +6.4% to 1.3 million units, which was slightly stronger than market expectations of +1.28 million units and suggested that consumer demand for vehicles is holding up.
Japan's Oct consumer confidence report of 39.7 was slightly stronger than market expectations of 39.5, although it was down from Sep's 40.1.
The UK Sep visible trade deficit of -8.368 billion pounds was narrower than market expectations of -8.9 bln pounds, which was supportive for the British pound. The Sep non-EU trade deficit of -3.972 billion pounds was narrower than market expectations of -4.6 billion pounds.
The Greek parliament on Sunday is expected to approve the 2013, which should satisfy most of the requirements necessary for Greece to receive its 31 billion euro bailout payment. However, Eurozone officials said yesterday that Eurozone approval is not likely to come until later in November when the final troika report is available.

French Sep industrial production fell -2.7% m/m, which was a much larger drop than market expectations of -1.0%. Meanwhile, the French central bank said that France may be slipping into a recession.
Market Comments

Dec E-mini S&Ps this morning are down -3.75 points (-0.27%) on continued fiscal cliff concerns and on overhang from the sell-off in European and Asian stocks overnight. U.S. stocks on Thursday closed sharply lower again on bearish factors including (1) concern about the fiscal cliff as the CBO released a report providing even more detail about the highly negative effects if the U.S. goes over the fiscal cliff, (2) concern about the apparent delay in a Greek deal until late November, (3) technical weakness with the new 3-month low in the S&P 500 index, and (4) a sharp 3.6% sell-off in Apple on Thursday. Closes: S&P 500 -1.22%, Dow Jones -0.94%, Nasdaq -1.545%. Weekly initial unemployment claims fell by -8,000 to 355,000 and continuing claims plunged by -136,000 to 3.127 mln on Hurricane Sandy distortions.
Dec 10-year T-notes this morning are up 8 ticks on safe-haven demand and worries about the economy. Dec 10-year T-note prices on Thursday continued to rally and posted a new 3-month high on (1) safe-haven demand with the sell-off in stocks, and (2) expectations for weaker economic growth in coming months if the fiscal cliff is not resolved: TYZ2 +9, FVZ2 +2.75. In addition, demand was strong for Thursday's 30-year bond auction with a bid cover ratio of 2.77 that was higher than the 12-auction average of 2.65. In addition, foreign buying was strong with indirect bidders buying 45.4% of the auction, well above the 12-auction average of 33.6%.
The dollar index this morning is up +0.17 points (+0.20%) on increased safe-haven demand with the sell-off in global stocks on fiscal cliff concerns. EUR/USD is down -0.0027 (-0.21%) and USD/JPY is down -0.24 (-0.30%). The dollar index closed little changed as safe-haven demand for the dollar was offset by worries about a possible U.S. recession from the fiscal cliff: Dollar index +0.03 (+0.04%), EUR/USD -0.0024 (-0.19%), USD/JPY -0.53 (-0.66%). The dollar index received a little support on the report that the Sep U.S. trade deficit narrowed to -$41.5 bln from a revised -$43.8 bln in August. The ECB at its policy meeting on Thursday left its refinancing rate unchanged at 0.75%, which was fully in line with market expectations. The Bank of England at its policy meeting left the base rate unchanged at 0.50%. The BOE also left its asset purchase plan at 375 billion pounds, which was disappointing to some stock market participants who had been hoping for an extension of the BOE's quantitative easing program, although it was bullish for GBP/USD.
Dec WTI crude oil prices this morning are down -0.38 (-0.45%) on the higher dollar and worries about the economy. Dec gasoline is up +0.0017 (+0.07%). Dec crude oil and gasoline prices on Thursday closed moderately higher on some short-covering after Wednesday's extraordinary plunges of more than 4%. However, sentiment remains bearish for crude oil on worries about fuel demand if the economy goes off the fiscal cliff and on talk that the Obama administration may launch an aggressive last-ditch negotiating effort with Iran: CLZ2 +0.65 (+0.77%), RBZ2 +0.0184 (+0.71%).

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): COV-Covidien (Consensus:$1.00), AEE-Ameren (1.41), APO-Apollo Global (0.75), JCP-JC Penney (-0.07), LNT-Alliant Energy (1.30), MDVN-Medivation (-0.10), WCRX-Warner Chilcot (0.78), HHC-Howard Hughe (0.19), LPI-Laredo Petroleum (0.13), FWLT-Foster Wheeler (0.45), LORL-Loral Space (na), SPH-Suburban Propane (-0.79), MMS-Maximus (0.69), GEN-Genon Energy (0.03), BPT-PB Prud Bay (na), OPK-Opko Health (-0.03).
Global Financial Calendar

Friday 11/9/12
United States
0830 ET	Oct import price index expected unch m/m and -0.5% y/y, Sep +1.1% m/m and -0.6% y/y.
0830 ET	USDA WASDE report.
0955 ET	Preliminary Nov U.S. University of Michigan consumer confidence expected +0.3 to 82.9, Oct +4.3 to 82.6.
1000 ET	Sep wholesale inventories expected +0.4%, Aug +0.5%.
Japan
0000 ET	Japan Oct consumer confidence expected 39.5, Sep 40.1.
CHI
0030 ET	China Oct industrial production, Sep +9.2% y/y. Oct retail sales expected +14.3% y/y, Sep +14.2% y/y. Oct fixed asset investment ex-rural, +20.5% year-to-date y/y.
United Kingdom
0430 ET	UK Sep visible trade balance expected -8.9 bln pounds, Aug -9.844 bln pounds. Sep non-EU trade balance expected -4.60 bln pounds, Aug -4.972 bln pounds. Sep total trade balance expected -3.2 bln pounds, Aug -4.169 bln pounds.
Germany
0200 ET	German final-Oct CPI expected unch from prelim of unch m/m and +2.0% y/y. Final-Oct CPI EU-harmonized expected unch from prelim of unch m/m and +2.1% y/y.

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

Yamaha Gold - AUY - Barchart Chart of the Day

Barchart.coms Chart of the Day - Yamaha Gold (AUY)

Barchart Research Team - BC - Thu Nov 08, 4:04PM CST

The "Chart of the Day" is Yamaha Gold (AUY), which showed up on Thursday's Barchart "All-Time High" list. Yamaha Gold on Thursday posted a new all-time high of $20.50 and closed up +1.29%. TrendSpotter just turned long again on Nov 1 at 20.08 after taking a profit on a long trade held from mid-August to mid-October. In recent news on the stock, RBC Capital on Nov 6 initiated coverage on Yamaha Gold with an Outperform and a target of $25. CIBC on Oct 31 upgraded Yamaha Gold to Sector Outperformer from Sector Performer. Scotia Capital on Oct 18 upgraded Yamaha Gold to Outperform from Sector Perform. Barclays on Oct 16 initiated coverage on Yamaha Gold with an Overweight and a target of $25. Morgan Stanley on Oct 10 initiated coverage on Yamaha Gold with an Overweight and a target of $25. Yamaha Gold, with a market cap of $14 billion, is a Canadian gold producer with significant gold production, gold and copper-gold development stage properties, exploration properties and land positions in all major mineral areas in Brazil.

auy_700

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

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

Barchart links for further information:

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Income Statement-Quarterly
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Chart of the Day Archive
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Thursday, November 8, 2012

Take a day off!

I'm not investing today. I invest in trends and if you look at the hourly trading chart of the Value Line Index at the moment there are no trends. Sit on the sidelines until we see where the market is going:

Barchart Morning Call 11/8

Barchart Morning Call

BC - 15 mins ago

Overnight Developments

Dec E-mini S&Ps this morning are mildly higher by +0.18% after yesterday's drubbing. The Euro Stoxx 50 index is up +0.81% this morning. Asian stocks closed lower today on the impact from yesterday's sharp sell-off in U.S. stocks. Commodity prices this morning are slightly higher by +0.11%. Dec crude oil is up +0.99%, Dec gasoline is up +1.00%, Dec gold is up +0.20%, Dec copper is up +0.29%, grain prices are mildly higher, and livestock and softs are mostly lower. The dollar index is mildly higher by +0.14%. Dec 10-year T-notes are up 0.5 tick.
The ECB at its meeting today left its refinancing rate unchanged at 0.75%, which was fully in line with market expectations. The ECB is in a holding pattern at present, enjoying the lull in the Eurozone debt crisis and hoping that the Eurozone economy will stabilize and start to improve next year.
The Bank of England today left the base rate unchanged at 0.50%. The BOE also left its asset purchase plan at 375 billion pounds, which was disappointing to some market participants who had been hoping for an extension of the BOE's quantitative easing program. The BOE halted its QE program for the time being since UK inflation of +2.2% is above the BOE's target of 2% and since some BOE members had doubts about QE's effectiveness.
German Finance Minister Schaeuble said today that he does not think Eurozone officials will be able to make a final decision on the Greek bailout package next week. Greece took a big step forward yesterday when its parliament approved the necessary austerity package. The Greek parliament plans to vote on Sunday on the 2013 budget.
Spain today successfully sold 4.76 billion euros of debt securities, which was above its 4.5 billion euro target. As part of today's package, Spain was able to sell 731 million euros of 20-year bonds at 6.328%, which was the longest-dated bond sold since May 2011 when Spain sold 30-year bonds.
German Sep exports fell -2.5% m/m, which was weaker than market expectations of -1.5% and more than reversed the revised +2.3% m/m gain seen in August. Meanwhile, Sep imports were also weak at -1.6% m/m versus expectations of -0.4% m/m. Germany's Sep trade surplus of 16.9 billion euros was larger than market expectations of 15.5 billion euros.
The Greek unemployment rate in August rose to 25.4% from 24.8% in July. The unemployment rate for young people between the ages of 15 and 24 was 58%. The European Commission is forecasting that Greek GDP will fall 6% this year and by 4.2% in 2013 for a total GDP decline of 20%, which qualifies as a depression. The European Commission is forecasting that Greek GDP will finally show growth of +0.6% in 2014.
Japan's Sep machine orders report of -4.3% m/m and -7.8% y/y was substantially weaker than market expectations of -2.1% m/m and -4.9% y/y.
Japan reported a Sep adjusted current account balance of a 142 billion yen versus expectations for a 206 billion yen surplus. Japan's Sep trade deficit of -471 billion yen was moderately wider than market expectations of -414 billion yen. The trade report was mildly bearish for the yen.
Japan's Oct Eco Watcher's outlook index of 41.7 was weaker than market expectations of 42.7 and was down from Sep's report of 43.5. The Eco Watcher's Oct current index of 39.0 was weaker than market expectations of 40.5 and was down from Sep's report of 41.2.

China's central bank governor Zhou Xiaochuan said today that the Chinese economy stabilized in October and some economic indicators are rebounding. The market consensus at present is that China's GDP in Q4 will improve to 7.7% y/y from the 3-year low of +7.4% seen in Q3.
Market Comments

Dec E-mini S&Ps this morning are up +2.50 (+0.18%) on some short-covering after yesterday's sharp sell-off and on today's 0.81% rally in European stocks. U.S. stocks on Wednesday closed sharply lower as the market braced for a tough fight over the year-end fiscal cliff and the possibility that the lack of an agreement would cause a recession in the first half of 2013: S&P 500 -2.37%, Dow Jones -2.36%, Nasdaq -2.55%. The stock market was also hit with heavy technical selling with the S&P 500 index falling to a new 3-month low.
Dec 10-year T-notes this morning are slightly higher by +0.5 tick. Dec 10-year T-note prices on Wednesday closed sharply higher on safe-haven demand with the sharp sell-off in stocks combined with the fact that President Obama's victory likely paves the way for a dovish bond-buying policy to continue if necessary even after Mr. Bernanke's term ends in January 2014: TYZ2 +28, FVZ2 +13.75.
The dollar index this morning is slightly higher by +0.12 points (+0.14%). EUR/USD is down -0.0030 (-0.23%) and USD/JPY is down -0.13 (-0.16%). The dollar index on Wednesday closed mildly higher on some safe-haven demand with the sharp sell-off in stocks: Dollar index +0.14 (+0.18%), EUR/USD -0.0043 (-0.34%), USD/JPY -0.35 (-0.44%).
Dec WTI crude oil prices this morning are up +0.84 (+0.99%) and Dec gasoline is up +0.0258 (+1.00%) on some short-covering after yesterday's plunge and on today's mildly higher trade in E-mini S&Ps. Dec crude oil and gasoline prices on Wednesday plunged on heavy technical selling, the bearish weekly DOE report, and talk that President Obama may offer Iran an aggressive last-ditch compromise on its nuclear program: CLZ2 -4.27 (-4.81%), RBZ2 -0.1100 (-4.08%). The weekly DOE report showed a 1.8 million barrel increase in crude oil inventories, a 2.875 million barrel increase in gasoline inventories, a 131,000 barrel increase in distillate inventories, and a sharp -6.1% drop in gasoline demand due to Hurricane Sandy. In addition, U.S. weekly crude oil production edged higher by +0.1% to a new 17-3/4 year high of 6.677 million barrels per day.

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): DIS-Walt Disney (Consensus:$0.68), DUK-Duke Energy (1.44), PSA-Public Storage (1.07), FE-FirstEnergy (1.06), PPL-PPL Corp (0.67), KSS-Kohl's (0.88), JWN-Norstrom (0.72), NVDA-Nvidia (0.36), CG-Carlyle Group (0.67), MCHP-Microchip Tech (0.48), CFN-Carefusion (0.41), VMC-Vulcan Materials (0.16), AAP-Advance Auto (1.21), WIN-Windstream (0.12).
Global Financial Calendar

Thursday 11/8/12
United States
0830 ET	Weekly initial unemployment claims expected +2,000 to 365,000, previous -9,000 to 363,000. Weekly continuing claims expected -3,000 to 3.260 mln, previous +4,000 to 3.263 mln.
0830 ET	Sep trade deficit expected -$45.0 bln, Aug -$44.2 billion.
0830 ET	USDA Export Sales.
1300 ET	Treasury auctions $16 billion in 30-year T-bonds.
1630 ET	Weekly money supply report and Fed balance sheet.
2000 ET	St. Louis Fed President James Bullard speaks on the U.S. economy and monetary policy at Washington University.
Germany
0200 ET	German Sep trade balance expected 15.5 bln euros, Aug 16.3 bln euros. Sep exports expected -1.5% m/m, Aug +2.5% m/m. Sep imports expected -0.4% m/m, Aug +0.4% m/m. Sep current account balance expected 10.8 bln euros, Aug 11.1 bln euros.
United Kingdom
0700 ET	BOE policy meeting outcome (base rate expected unchanged at 0.50%, asset purchase target expected unchanged at 375 bln pounds).
Euro-Zone
0745 ET	ECB meeting outcome (refinancing rate expected unchanged at 0.75%).
CHI
n/a	China's 18th National Congress of the Communist Party of China begins to decide on once-a-decade leadership changes.
2030 ET	China Oct CPI expected +1.9% y/y, Sep +1.9% y/y. Oct PPI expected -2.8% y/y, Sep -3.6% y/y.
Japan
0000 ET	Japan Oct eco watchers current index expected 40.5, Sep 41.2. Oct eco watchers outlook, Sep 43.5.
1850 ET	Japan Oct M2 expected +2.4% y/y, Sep +2.4% y/y. Oct M3 expected +3.0% y/y, Sep +2.0% y/y.

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

Lennar - LEN - Barchart Chart of the Day

Barchart.coms Chart of the Day - Lennar (LEN)

Barchart Research Team - BC - Wed Nov 07, 5:05PM CST

The "Chart of the Day" is Lennar (LEN), which showed up on Wednesday's Barchart "52-Week High" list. Lennar on Wednesday posted a new 5-year high of $39.33 and closed +0.41%. TrendSpotter has been long since Oct 3 at $37.41. In recent news for the stock, U.S. Sep new home sales rose sharply by 5.7% to a 2-1/2 year high of 389,000 and the supply of new homes on the market fell to a new 7-year low of 4.5 months. Lennar, with a market cap of $7 billion, is one of the nation's leading builders of quality homes, building affordable, move-up and retirement homes.

len_700_01

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

Wednesday, November 7, 2012

Barchart Morning Call - 11/7

Barchart Morning Call

BC - 1 hr 32 mins ago

Overnight Developments

Dec E-mini S&Ps this morning are slightly lower by -0.04% as the markets react to last night's U.S. election returns. European stocks are up +0.38% and Asian stocks closed generally higher with Hong Kong up +0.71%, Taiwan up +0.70%, and Australia up +0.71%, although Japan closed -0.03% and China closed -0.21%. Commodity prices are slightly higher by +0.09% with Dec crude oil down -0.83%, Dec gasoline -0.90%, Dec gold up +0.55%, Dec copper virtually unchanged, and agricultural prices generally trading higher. The dollar index is slightly lower by -0.05% and EUR/USD is slightly lower by -0.09%. Dec 10-year T-notes are up 19.5 ticks.
The election results were in line with pre-election probabilities and the status quo prevailed. President Obama won reelection, Republicans kept control of the House, and Democrats kept control of the Senate. Attention now turns to how Washington will handle the year-end fiscal cliff and the need for a debt ceiling hike by early 2013.
The Greek parliament today will hold its first vote on approving the 13.5 billion euro austerity package that is necessary for Greece to obtain its next 31 billion euro tranche of bailout money. If the Greek parliament cannot approve the austerity package, speculation will quickly arise again about whether Greece may end up leaving the Eurozone. Greek workers today held the second day of their 2-day strike to protest austerity measures.
The European Commission today cut its GDP forecast for the Eurozone for 2013 to +0.1% from its May forecast of +1.0%, acknowledging that the economy will show virtually no growth in 2013 after a forecasted -0.4% decline in 2012.
The Sep Eurozone retail sales report of -0.2% m/m and -0.8% y/y was slightly weaker than market expectations of -0.2% m/m.

The German Sep industrial production report of -1.8% m/m and -1.2% y/y was much weaker than market expectations of -0.7% m/m and +0.1% y/y.
Market Comments

Dec E-mini S&Ps this morning are slightly lower by -0.50 points (-0.04%) after last night's election returns were in line with the pre-election probabilities. E-mini S&Ps are seeing some support today from the +0.38% rally in European stocks. The S&P 500 index on Tuesday closed moderately higher: S&P 500 +0.79%, Dow Jones +1.02%, Nasdaq +0.30%. Bullish factors included some relief that the election uncertainty was nearly over and the +0.73% rally in European stocks.
Dec 10-year T-notes this morning are up 19.5 ticks as the market calculates that the Obama reelection victory will give the FOMC more scope to continue its accommodative monetary policy, although that also boosts the long-term inflation risks. Dec 10-year T-note prices on Tuesday closed moderately lower: TYZ2 -14, FVZ2 -8.25. Bearish factors included reduced safe-haven demand with the rally in stocks and supply overhang with this week's refunding operation. The results from Tuesday's 3-year T-note auction were a bit disappointing with the bid cover ratio of 3.41 being below the 12-auction average of 3.58 and at the lowest level in 9 months. In addition, indirect (foreign) bidders bought only 25.1% of the auction, which was well below the 12-auction average of 33.9% and the lowest level since 2007.
The dollar index this morning is slightly lower by -0.04 (-0.05%) and EUR/USD is down lower by -0.0011 (-0.09%). USD/JPY is down -0.26 (-0.32%). The dollar index on Tuesday closed mildly lower: Dollar index -0.14 (-0.17%), EUR/USD +0.0018 (+0.14%), USD/JPY +0.06 (+0.07%). Bearish factors included (1) reduced safe-haven demand with the rally in the stocks, and (2) the odds for an Obama victory, which would mean support for the Fed's dollar-bearish QE3 program.
Dec WTI crude oil prices this morning are down -0.74 (-0.83%) and Dec gasoline is down -0.0242 (-0.90%) as the markets give back some of yesterday's sharp gains. Dec crude oil and gasoline prices on Tuesday closed sharply higher: CLZ2 +3.06 (+3.57%), RBZ2 +0.0787 (+3.00%). Bullish factors included general commodity strength and the continued disruptions of gasoline supplies in the northeastern U.S. The market consensus for today's DOE report is for a +1.5 million barrel rise in crude oil inventories, a -1.5 million barrel drop in gasoline inventories, a -1.25 million barrel drop in distillate inventories, and a -1.5 point drop in the refinery utilization rate to 86.2% of capacity. However, today's report for the week ended Nov 2 will see severe disruptions from Hurricane Sandy, which made landfall on October 29.

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): QCOM-Qualcomm (Consensus:$0.82), MDLZ-Mondelez (0.36%), TWX-Time Warner (0.82), PRU-Prudential Financial (1.67), KRFT-Kraft Foods (0.67), DVN-Devon Energy (0.69), CTL-Centurylink (0.58), CBS-CBS (0.60), CTSH-Cognizant (0.92), WLP-Wellpoint (1.83), WFM-Whole Foods (0.60), M-Macy's (0.30), BDX-Becton Dickinson (1.40), CLR-Contl Res (0.87), ETE-Energy Transfer (0.40), ATVI-Activision (0.08), PRGO-Perrigo (1.24), BAP-Credicorp (2.43), CXO-Concho Resources (1.04), CNP-Centerpoint Energy (0.34), MPEL-Melco Crown (0.17).
Global Financial Calendar

Wednesday 11/7/12
United States
0700 ET	Weekly MBA mortgage applications, previous -4.8% with purchase sub-index +0.5% and refi sub-index -6.0%.
1030 ET	DOE Weekly Petroleum Status Report.
1300 ET	Treasury auctions $24 billion in 10-year T-notes.
1500 ET	Sep consumer credit expected +$10.6 bln, Aug +$18.123 bln.
Euro-Zone
0500 ET	Eurozone Sep retail sales expected -0.1% m/m and -0.8% y/y, Sep +0.1% m/m and -1.3% y/y.
Germany
0600 ET	German Sep industrial production expected -0.6% m/m and +0.1% y/y, Aug -0.5% m/m and -1.4% y/y.
Japan
1850 ET	Japan Sep machine orders expected -2.1% m/m and -4.9% y/y, Aug -3.3% m/m and -6.1% y/y.
1850 ET	Japan Sep current account expected 761 bln yen, Aug 454.7 bln yen. Sep adjusted current account expected 206 bln yen, Aug 722.3 bln yen. Sep trade balance BOP basis expected -417 bln yen, Aug -644.5 bln yen.
1850 ET	Japan Oct bank lending ex-trusts expected +1.1% y/y, Sep +1.2% y/y.
2100 ET	Tokyo Oct average office vacancies, Sep 8.9%.
2330 ET	Japan Oct bankruptcies, Sep -7.0% y/y.

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

5 Small Cap Picks

Today I screened the S&P 600 Small Cap Index to find the stocks with the best Barchart technical indicators and charts. Near the top of the list were Olympic Steel (ZEUS), Watts Water Technologies (WTS), Encore Wire (WIRE), Winnebago Industries (WGO) and Virtus Investment Partners (VRTS):

Olympic Steel (ZEUS)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
5 new highs and up 9.19% in the last month
Relative Strength Index 62.23%
Barchart computes a technical support level at 18.15
Recently traded at 18.89 with a 50 day moving average of 17.32

Watts Water Technologies (WTS)

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 7.65% in the last month
Relative Strength Index 65.91%
Barchart computes a technical support level at 40.82
Recently traded at 41.09 with a 50 day moving average of 38.27

Encore Wire (WIRE)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
15 new highs and up 8.23% in the last month
Relative Strength Index 70.00%
Barchart computes a technical support level at 31.49
Recently traded at 32.21 with a 50 day moving average of 29.86

Winnebago Industries (WGO)

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 15.89% in the last month
Relative strength Index 71.90%
Barchart computes a technical support level at 12.60
Recently traded at 14.37 with a 50 day moving average of 12.21

Virtus Investment Partners (VRTS)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
16 new highs and up 20.83% in the last month
Relative Strength Index 86.92%
Barchart computes a technical support level at 103.62
Recently traded at 105.05 with a 50 day moving average of 90.25

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Roper Industries - ROP - Barchart Chart of the Day

Barchart.coms Chart of the Day - Roper Industries (ROP)

Barchart Research Team - BC - Tue Nov 06, 3:52PM CST

The "Chart of the Day" is Roper Industries (ROP), which showed up on Tuesday's Barchart "All-Time High" list. Roper on Tuesday posted a new all-time high of $111.75 and closed +0.99%. TrendSpotter just turned long last Friday at $110.43. Chart of the Day last featured Roper Indusries as of the Jan 6, 2012 close of $89.94. In recent news on the stock, Roper on Oct 25 reported Q3 EPS of $1.24, slightly above the consensus of $1.23. Barclays on Sep 13 reinitiated coverage on Roper with an Overweight and a target of $120. Roper Industries, with a market cap of $10 billion, manufactures and distributes specialty industrial controls, fluid handling and analytical instrumentation products worldwide, serving selected segments of a broad range of markets such as oil & gas, scientific research, medical diagnostics, semiconductor, microscopy, chemical and petrochemical processing, large diesel engine and turbine/compressor control applications, bulk-liquid trucking, power generation, and agricultural irrigation industries.

rop_700

TrendSpotter: Buy
Short-Term Indicators: 80% Buy
Medium-Term Indicators: 75% Buy
Long-Term Indicators: 100% Buy
Overall Average 88% Buy

Chart of the Day Archive
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Tuesday, November 6, 2012

5 Mid Cap Picks

Today I screened the S&P 500 Mid Cap Index to find the 5 with the best Barchart technical indicators and charts. Near the top of the last were Waddel & Reed Financial (WDR), Washington Federal (WAFD), Valspar (VAL) , Thor Industries (THO) and Triumph Group (TGI):

Waddel & Reed Financial (WDR)

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 6.86% in the last month
Relative Strength Index 64.44%
Barchart computes a technical support level at 32.93
Recently traded at 34.28 with a 50 day moving average of 32.16

Washington Federal (WAFD)

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 3.62% in the last month
Relative Strength Index 60.89%
Barchart computes a technical support level at 16371
Recently traded at 17.33 with a 50 day moving average of 16.68

Valspar (VAL)

Barchart technical indicators:

100% Barchart technical buy signal
Trend spotter buy signal
Above its 20, 50 and 100 day moving average
16 new highs and up 21.21% in the last quarter
Relative Strength Index 61.52%
Barchart computes a technical support level at 57.46
Recently traded at 59.46 with a 50 day moving average of 56.59

Thor Industries (THO)

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 22.90% in trhe last month'
Relative Strength Index 80.35%
Barchart computes a technical support level at 39.29
Recenlty traded at 45.13 with a 50 day moving average of 35.61

Triumph Group (TGI)

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 4.43% in the last month
Relative Strength Index 64.58%
Barchart computes a technical support level at 64.39
Recently traded at 66.70 with a 50 day moving average of 61.79

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Barchart Morning Call 11/6

Barchart Morning Call

BC - Tue Nov 06, 7:00AM CST

Overnight Developments

Dec E-mini S&Ps this morning are mildly higher by +0.32% going into today's election with support from today's +0.70% rally in European stocks. European stocks have been able to shake off today's generally weak European economic data. The big Asian stock markets closed lower today with Japan down -0.36%, Hong Kong down -0.28%, and China down -0.42%. Commodity prices are trading higher almost across the board today and are up by an average +0.52%. Dec crude oil is up +0.69%, Dec gasoline is up +1.03%, Dec gold is up +0.57%, Dec copper is up +0.45%, and agriculture prices are all trading higher. The dollar index is slightly lower by -0.08 points (-0.09%) and EUR/USD is up +0.0006 (+0.05%). Dec 10-year T-note prices are down -4 ticks.
The markets are waiting to assess the outcome of today's U.S. election, which will at least significantly reduce the uncertainty level for the markets. The first big news will be available when polls close in key eastern states at 8 PM ET. The markets are hoping for a decisive election outcome by late tonight or the early morning hours. The markets hoping that the decision isn't delayed by recounts or court challenges that would cause substantial uncertainty and could even delay the results by a matter of days.
Greek workers began a 48-hour general strike today to protest austerity measures. Meanwhile, doubts continue about whether the Greek parliament will be able to approve the 13.5 billion euro austerity package that is required for Greece to receive its next tranche of bailout aid. European Union Economic and Monetary Affairs Commissioner Olli Rehn said yesterday that the target for a Greek deal is an EU finance ministers meeting this coming Monday (Nov 12), although target that could easily slip since Eurozone officials still haven't decided how to plug the 30 billion euro hole in Greece's long-term deficit reduction plan. Greek Prime Minister Samaras submitted the austerity bill to parliament late Monday. The Greek parliament is expected to vote on the plan on Wednesday and then vote on the budget on Sunday (Nov 11).
The Australian central bank today left its overnight cash rate target unchanged at 3.25% versus some market hopes for a rate cut. The bank cited a more stable global economy as the reason for leaving its rate unchanged. AUD/USD is up +0.64% today on the lack of a rate cut.
Germany's final-Oct services PMI was revised lower by -0.9 points to 48.4 from the early-Oct level of 49.3, leaving the index down by 1.3 points from the Sep level of 49.7. The final-Oct Eurozone services PMI was revised slightly lower by -0.2 points to 46.0 from the early-Oct level of 46.2, leaving the index down by -0.1 point from Sep's level of 46.1.
German Sep factory orders fell by -3.3% m/m and -4.7% y/y, which was weaker than market expectations of -0.4% m/m and -1.5% y/y.
UK Sep industrial production fell -1.7% m/m and -2.6% y/y, which was weaker than market expectations of -0.6% m/m and -1.6% y/y. The UK Sep manufacturing production report of +0.1% m/m and -1.0% y/y was weaker than market expectations of +0.4% m/m and -0.8% y/y.

The Eurozone Sep PPI report of +0.2% m/m and +2.7% y/y was in line with market expectations.
Market Comments

Dec E-mini S&Ps this morning are up +4.50 points (+0.32%) on the +0.70% rally in the Euro Stoxx 50 index this morning. Otherwise, stock investors are simply holding their ground ahead of today's election results. The S&P 500 index on Monday closed mildly higher: S&P 500 +0.22%, Dow Jones +0.15%, Nasdaq +0.63%. The U.S. stock market on Monday was boosted by some short-covering after last Friday's sharp sell-off. The Nasdaq received a boost from a 1.4% rally in Apple after news it sold 3 million of its iPad mini on its debut weekend. U.S. stocks were undercut by the news that the U.S. Oct ISM non-manufacturing index fell by -0.9 points to 54.2, which was mildly weaker than market expectations for a -0.6 point drop to 54.5.
Dec 10-year T-notes this morning are down 4 ticks on today's higher trade in the U.S. and European stock indexes.. Dec 10-year T-note prices on Monday closed moderately higher: TYZ2 +11.5, FVZ2 +4.75. Bullish factors included some safe-haven demand ahead of the election and with increased concerns about Greece. The T-note market shook off supply overhang concerns ahead of the $72 billion refunding operation that begins Tuesday with the Treasury's sale of $35 billion in 3-year T-notes.
The dollar index this morning is slightly lower by -0.08 points (-0.09%) on reduced safe-haven demand with the mildly higher trade in E-mini S&Ps. EUR/USD is up +0.0006 (+0.05%) and USD/JPY is down -0.12 (-0.15%). The dollar index on Monday closed mildly higher: Dollar index +0.11 (+0.13%), EUR/USD -0.0039 (-0.30%), USD/JPY -0.14 (-0.17%). Bullish factors included (1) some safe-haven demand ahead of Tuesday's U.S. election, (2) weakness in EUR/USD on worries about whether the Greek parliament will be able to approve the 13.5 billion euro austerity package that is necessary for Greece to obtain its next 31.5 billion euro tranche of aid and stay in the Eurozone, and (3) some technical strength in the dollar index with the rally to a new 2-mont high and technical weakness in EUR/USD with the new 2-month low.
Dec WTI crude oil prices this morning are up +0.59 (+0.69%) and Dec gasoline is up +0.0271 (+1.03%). Dec crude oil and gasoline prices on Monday closed higher: CLZ2 +0.79 (+0.93%), RBZ2 +0.0466 (+1.81%). Bullish factors include (1) pent-up demand for fuel in Northeastern U.S. with refineries slowly getting back to normal, and (2) news of a temporary shut-down of Valero's Port Arthur, Texas refinery after a fire. Israeli Prime Minister Netanyahu said yesterday that if he wins another term as Prime Minister at Israel's election in January, Iran's nuclear program will no longer exist by the end of his term. The market consensus for Wednesday's DOE report is for a +1.5 million barrel rise in crude oil inventories, a -1.5 million barrel drop in gasoline inventories, a -1.25 million barrel drop in distillate inventories, and a -1.5 point drop in the refinery utilization rate to 86.2% of capacity.

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): CVS-CVS Caremark (Consensus:$0.84), NWSA-News Corp (0.37), EMR-Emerson (1.05), DTV-DirectTV (0.92), DISCA-Discovery Communications (0.63), MRO-Marathon Oil (0.65), MMC-Marsh & McLennan (0.38), SRE-Sempra Energy (1.00), DISH-Dish Network (0.56), HCN-Health Care REIT (0.26), LMCA-Liberty Media (0.94), RAX-Rackspace Hosting (0.19), CPN-Calpine (0.41), EXPD-Expeditors (0.43), CHTR-Charter Communications (-0.33), OAK-Oaktree Capital (0.74), NYX-NYSE Euronext (0.41), SCG-Scana (0.89), DNR-Denbury Resource (0.33), DOX-Amdocs (0.70), FOSL-Fossil (1.16).
Global Financial Calendar

Global Calendar - Tuesday 11/6/12
United States
n/a	U.S. Election Day.
0745 ET	ICSC (Int'l Council of Shopping Centers) weekly retailer sales.
0855 ET	Redbook weekly retailer sales.
1130 ET	Weekly 4-week T-bill auction.
1300 ET	Treasury auctions $32 billion in 3-year T-notes.
1630 ET	API weekly U.S. oil statistics.
Japan
0000 ET	Japan Sep coincident index expected 91.2, Aug 93.5. Sep leading index expected 91.8, Aug 93.2.
Germany
0355 ET	German final-Oct services PMI expected unch from prelim of 49.3.
0600 ET	German Sep factory orders expected -0.5% m/m and -1.5% y/y, Aug -1.3% m/m and -4.8% y/y.
Euro-Zone
0400 ET	Eurozone final-Oct services PMI expected unch from prelim 46.2. Final-Oct composite PMI expected unch from prelim 45.8.
0500 ET	Eurozone Sep PPI expected +0.2% m/m and +2.6% y/y, Aug +0.9% m/m and +2.7% y/y.
United Kingdom
0430 ET	UK Sep industrial production expected -0.6% m/m and -1.6% y/y, Aug -0.5% m/m and -1.2% y/y. Sep manufacturing production expected +0.4% m/m and -0.8% y/y, Aug -1.1% m/m and -1.2% y/y.
1000 ET	UK Oct NIESR GDP estimate, previous +0.8%.
1901 ET	UK Oct BRC shop price index, Sep +1.0% y/y.

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AFLAC - AFL - Barchart Chart of the Day

Barchart.coms Chart of the Day - Aflac (AFL)

Barchart Research Team - BC - Mon Nov 05, 4:33PM CST

The "Chart of the Day" is Aflac (AFL), which showed up on Monday's Barchart "52-Week High" list. Aflac on Monday posted a new 16-month high of $51.31 and closed +1.11%. TrendSpotter has been long since Oct 15 at $48.78. In recent news on the stock, Aflac on Oct 23 reported fiscal Q4 EPS of $1.77, well above the consensus of $1.66. Barron's on Sep 2 ran a story saying that Aflac stock price is cheap compared to its own history and its peers and that there is room for the stock price to grow 30%. Aflac, with a market cap of $23 billion, is a leading supplemental health and life insurance company.

afl_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

Monday, November 5, 2012

5 Large Cap Picks

Today I screened the S&P 500 Large Cap Index to find 5 with the best Barchart technical indicators and charts and found near the top of the list Motorola Solutions (MSI), L-3 Communications (LLL), GameStop (GME), Flow Serve (FLS) and Cigna (CI)

Motorola Solutions (MSI)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
4 new highs and up 3.47% in the last month
Relative Strength Index 62.87%
Barchart computes a technical support level at 52.15
Recently traded at 53.06 with a 50 day moving average of 50.08

L-3 Communications (LLL)

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 2.83% in the last month
Relative Strength Index 64.69%
Barchart computes a technical support level at 73.84
Recently traded at 75.45 with a 50 day moving average of 72.35

Game Stop (GME)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
2 new highs and up 4.29% in the last month
Relative Strength Index 64.25%
Barchart computes a technical support level at 23.43
Recently traded at 24.05 with a 50 day moving average of 21.89

FlowServe (FLS)

Barchart technical indicators:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
5 new highs and up 5.40% in the last month
Relative Strength Index 69.55%
Barchart computes a technical support level at 134.48
Recently traded at 137.43 with a 50 day moving average of 130.46

Cigna (CI)

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 8.99% in the last month
Relative Strength Index 72.90%
Recently traded at 53.24 with a 50 day moving average of 48.06

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Barchart Morning Call 11/5

Barchart Morning Call

BC - 1 hr 42 mins ago

Overnight Developments

Dec E-mini S&Ps this morning are unchanged as the market treads water ahead of tomorrow's U.S. election. European stocks are down -0.88% on worries about Greece, while Asian stocks closed lower almost across the board. Japan closed down -0.48%, Hong Kong closed down -0.47%, and China closed down -0.21%. Commodity prices are slightly lower by -0.05% on average. Dec crude oil is up +0.14%, Dec gasoline is up +0.31%, Dec gold is up +0.35%, Dec copper is down -0.78%, and agriculture prices are mixed. The dollar index is up +0.17 points and EUR/USD is down -0.20%. USD/JPY is down -0.20%. Dec 10-year T-notes are up 9.5 ticks.
The markets are worried about whether the Greek Parliament will approve the 13.5 billion euro austerity package that is necessary for Greece to receive its next 31 billion bailout tranche before a big bond redemption payment is due next week. The Greek Parliament could start voting on the austerity package as soon as this week.
China's October non-manufacturing PMI from the China Federation of Logistics and Purchasing and the National Bureau of Statistics rose 1.8 points to 55.5, recovering some of the -2.6 point decline to 53.7 seen in September. However, the Oct services PMI from HSBC fell 0.8 points to 53.5 from 54.3 in September.

The Eurozone Nov Sentix investor confidence index improved to -18.8 from -22.2 and was stronger than market expectations for a rise to -21.0.
Market Comments

Dec E-mini S&Ps this morning are trading unchanged this morning. The market is treading water ahead of tomorrow's U.S. election. E-mini S&Ps this morning have been able to shake off the bearish influence from this morning's -0.88% sell-off in the Euro Stoxx 50 index and lower Asian stocks. U.S. stocks on Friday rallied early in the session to 1-1/2 week highs on the stronger-than-expected Oct U.S. payrolls report but then shed their gains and sold off the rest of the day on uncertainty ahead of Tuesday's U.S. presidential election: S&P 500 -0.94%, Dow Jones -1.05%, Nasdaq -1.16%. Stocks were supported by the 171,000 increase in Oct non-farm payrolls, stronger than expectations of 125,000, and by the 4.8% increase in Sep factory orders that was better than expectations of +4.6%. Weakness in raw material and energy producers also helped drag the overall market lower after Chevron and Newmont Mining posted disappointing earnings results.
Dec 10-year T-notes this morning are up 9.5 ticks on lower European and Asian stocks and on some safe-haven demand ahead of Tuesday's election. Dec 10-year T-note prices Friday sold-off on the stronger-than expected U.S. Oct payrolls report but pared losses and closed only modestly lower after stocks erased an early rally and closed lower: TYZ2 -1.5, FVZ2 -0.2. Other bearish factors included the stronger-than-expected Sep factory orders of +4.8% along with supply pressures ahead of the Nov refunding when the Treasury on Nov 6-8 will auction $72 billion of T-notes and T-bonds.
The dollar index this morning is up +0.17 points (+0.21%) as EUR/USD is down -0.0051 (-0.40%) on pressure from Greek worries. USD/JPY is down -0.16 points (-0.20%). The dollar index Friday rallied sharply to a 1-3/4 month high and closed higher after the stronger-than-expected U.S. Oct payrolls reports added to evidence the economy is improving, which boosted the dollar's interest rate differentials on speculation the Fed may refrain from additional stimulus measures: Dollar index +0.546 (+0.68%), EUR/USD -0.01089 (-0.84%), USD/JPY +0.335 (+0.42%). EUR/USD fell to a 3-week low on continued European sovereign debt concerns while USD/JPY surged to a 6-month high on the stronger-than-expected U.S. payrolls report along with speculation the BOJ will expand its monetary stimulus measures. EUR/USD weakness was limited after Commerzbank AG raised its forecast for EUR/USD to $1.30 by year-end from a previous forecast of $1.23, citing the ECB's "announcement of unlimited bond purchases that has calmed the markets," which will push back euro weakness until later next year.
Dec WTI crude oil prices this morning are up +0.12 (+0.14%) and Dec gasoline is up +0.0080 (+0.31). Dec crude oil and gasoline prices Friday closed lower as a rally in the dollar index to a 1-3/4 month high undercut most commodities along with speculation that the continued shutdown of East Coast refineries due to power outages will add to U.S. crude inventories that are already at the highest they've been this time of year in at least 10 years: CLZ2 -2.23 (-2.56%), RBZ2 -0.0600 (-2.28%). Crude oil saw support from the stronger-than-expected Oct payroll and Sep factory orders 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): ESRX-Express Scripts (Consensus:$0.99), SO-Southern Company (1.13), EOG-EOG Resources, TWC-Time Warner (1.43), SYY-Sysco (0.51), RIG-Transocean (0.79), PAA-Plains All American (0.54), TEL-TE Connectivity (0.74), ETR-Entergy (2.00), CF-CF Industries (5.75), HUM-Humana (12.16), ROK-Rockwell (1.32), DIS-Fidelity National (0.62), ICE-Intercontinental Exchange (1.73), SBAC-SBA Communications (-0.17), XL-XL Group (0.49).
Global Financial Calendar

Monday 11/5/12
United States
1000 ET	Oct ISM non-manufacturing index expected -0.6 to 54.5, Sep +1.4 to 55.1.
1100 ET	USDA weekly grain export inspections.
1130 ET	Weekly 3-mo and 6-mo T-bill auctions.
1600 ET	USDA Crop Progress.
n/a	G-20 2-day meeting concludes in Mexico City.
United Kingdom
0430 ET	UK Oct services PMI expected 52.0, Sep 52.2.
1901 ET	UK Oct BRC sales like-for-like, Sep +1.5% y/y.
Euro-Zone
0430 ET	Eurozone Nov Sentix investor confidence expected -21.0, Oct -22.2.

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