Financial Tides -- A Stock Market Investing Newsletter by Jim Van Meerten: 2013-03-17

Friday, March 22, 2013

Xoma Ltd (XOMA) Barchart's Chart of the Day

Summary:

Xoma Ltd (XOMA) is the Chart of the Day with a 96 Barchart technical buy signal and in the last month advancing 17 times for a 35.66% gain. Analysts look for double digit growth in both revenue and earnings next year.

Article:

The Chart of the Day is Xoma Ltd. (XOMA) and was found by using the Barchart New High list and sorting for frequency. The 96% Barchart technical buy signals and a Trend Spotter buy signal is a good sign. Analysts predict double digit growth next year in both revenue and earnings.

This biopharmaceutical company engages in the discovery, development, and manufacturing of therapeutic antibodies to treat autoimmune, infectious, inflammatory, and oncological diseases. Their flagship product is gevokizumab, a humanized antibody to interleukin-1' with potential for the treatment of the inflammatory cause of multiple diseases.

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.

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
17 new highs and up 35.66% in the last month
Barchart computes a technical support level at 3.28
Recently traded at 3.50 with a 50 day moving average of 2.84

Fundamental factors:

Market Cap $285.46 million
Revenue projected to grow 3.90% this year and another 39.70% next year
Earnings estimated to increase 22.90% this year, an additional 25.70% next year and continue to grow 19.00% annually for at least 5 years
Analysts issued 3 strong buy, 1 buy and 1 hold recommendation
Financial Strength B

Exit strategy: Consider selling if you lose 10% from your entry point or the stock begins to trade below its 50 day moving average.

Get out of Bonds!

There are several major asset classes in the investment markets: stocks, bonds, real estate, commodities, precious metals and cash. Although you cannot time the market you can read the writing on the wall and change the weighting within your portfolio to the changing economic conditions. Right now I think it's obvious that bonds have a much, much greater risk to your portfolio than any other asset sector.

My leading motto is: " I'd rather be approximately right than precisely inaccurate". Right now bonds have little upside potential and enormous downside risks so why would any rational investor buy bonds at this time??

Whether you agree with me or not there is a review I would highly recommend at this time. At least review your portfolio, IRA and 401K and quantify your exposure to bonds. Review for the following:

Bonds -- the longer the maturity date the higher your risk
Bond Funds -- again the longer the duration of the portfolio the greater the risk
Balanced Funds -- do you know what the ratio of bonds is in the portfolio? The higher the ratio of bonds the higher the risks
Income Funds -- how much of the income comes from dividends and how much from interest? The higher the ratio of income from interest the higher your risks
Target Date Funds - Normally the ratio of stocks to bonds changes the closer you get to the target date. The closer the target date the higher your bond risk is.

I would be a fool to predict when the bond bubble will burst - I have no idea if it is tomorrow, next month or next year but I can predict that it will happen. The one given is the longer you stay invested in bonds the more risk you portfolio is taking.

Don't say you weren't warned.

Thursday, March 21, 2013

Seattle Genetics - SGEN - Barchart Chart of the Day

Summary:
Seattle Gentics (SGEN) is the Chart of the Day after advancing in 17 sessions and gaining 29.63% in just the last month. Next year analysts predict double digit growth in both Revenue and Earnings.

Article:

The Barchart Chart of the Day is Seattle Genetics (SGEN) and was found by sorting the Barchart New High list for frequency then using the Flipchart function to review the charts. In the last month the stock rose in 17 session for a gain of 29.63% and has a Trend Spotter buy signal. It has great fundamentals for next year.

The Company develops monoclonal antibody-based drugs to treat cancer and related diseases. Using its monoclonal antibody-based technologies and its expertise in cancer, they have assembled a portfolio of drug candidates targeted to many types of human cancers.

96% Barchart technical buy signals'
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
17 new highs and up 29.63% in the last month
Relative Strength Index 79.95%
Barchatt computes a technical support level at 33.79
Recently traded at 34.78 with a 50 day moving average of 29.64

Fundamental factors:

Market Cap $4.14 billion
Revenue projected to increase 24.40% next year
Earnings estimated to grow 33.30% next year
Analysts issued 3 strong buy, 1 buy, 5 hold and 2 sell reports
Financial Strength B++

Exit if you lose 10% from your entry point or if the stock trades below its 50 day moving average

5 NASDAQ 100 stocks on the rise

Today I used Barchart to sort the NASDAQ 100 Index to find 5 stocks with great Barchart technical indicators and charts. The list today includes Adobe Systems (ADBE), Autodesk (ADSK), Amgen (AMGN), Bed, Bath & Beyond (BBBY), Biogen Idec (BIIB):

Adobe Systems (ADBE)

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
10 new highs and up 10.05% in the last month
Relative Strength Index 67.12%
Barchart computes a technical support level at 41.32
Recently traded at 42.19 with a 50 day moving average of 39.30

Autodesk (ADSK)

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
11 new highs and up 8.11% in the last month
Relative Strength Index 65.94%
Barchart computes a technical support level at 39.79
Recently traded at 41.02 with a 50 day moving average of 38.53

Amgen (AMGN)

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
7 new highs and up 10.53% in the last month
Relative Strength Index 66.21%
Barchart computes a technical support level at 91.93
Recently traded at 94.09 with a 50 day moving average of 87.82

Bed Bath & Beyond (BBBY)

Barchart technical indicators"

96% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
10 new highs and up 9.94% in the last month
Relative Strength Index 72.03%
Barchart computes a technical support level at 61.39
Recently traded at 63.25 with a 50 day moving average of 58.47

Biogen Idec (BIIB)

Barchart technical indicators:

96% Barchart technical buy signal
Trend spotter buy signal
Above its 20, 50 and 100 day moving average
11 new highs and up 8.90% in the last month
Relative Strength Index 70.31%
Barchart computes a technical support level at 175.95
Recently traded at 176.87 with a 50 day moving average of 161.14

BARCHART MORNING CALL 3/21

BARCHART MORNING CALL

Thursday, March 21st, 2013

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OVERNIGHT MARKETS AND NEWS

June E-mini S&Ps (ESM13 unch) are trading slightly lower by -0.08% on a -0.90% drop in the Euro Stoxx 50 index on unexpected declines in the German and Eurozone PMI manufacturing and services indexes. European stocks are also lower after the ECB said it would cut off lending to the Cyprus central bank and banking system if no bailout is in place by Monday. However, on the positive side, the Chinese March HSBC flash manufacturing PMI rose by +1.3 points to 51.7 and was stronger than market expectations. Asian stocks today closed mixed. The Nikkei index rallied by +1.3%, the Hang Seng closed -0.14%, and China's CSI 300 index rose +0.18%. Commodity prices this morning are little changed on average. May crude oil (CLK13 -0.31%) is down -0.43%, May gasoline (RBK13 -0.36%) is down -0.36%, April gold (GCJ13 +0.02%) is down -0.01%, May copper (HGK13 +0.42%) is up +0.19%, and agriculture prices are mixed. The dollar index (DXY00 -0.06%) is slightly higher by +0.05% and EUR/USD (^EURUSD) is down -0.08%. USD/JPY (^USDJPY) is down -0.70%. June 10-year T-note (ZNM13 -0.10%) prices are down -3.5 ticks.
The European Central Bank stepped up the pressure on politicians to reach a Cyprus bailout agreement by saying that it will cut off current funding to the Cyprus central bank through its Emergency Liquidity Assistance (ELA) program if there is no bailout agreement by Monday. The cut-off of ECB funding to the Cyprus central bank, which is in turn keeping Cyprus banks afloat, would mean the immediate collapse of most Cyprus banks. However, the market is still expecting Eurozone and Cyprus officials to come up with an agreement to allow Cyprus banks to reopen by early next week. The Cyprus central bank announced yesterday that Cyprus banks and stock market will be closed through Friday and then Monday is a holiday when they will be closed in any case. That indicates a target date of next Tuesday for reopening banks and the stock market.
Spain today successfully sold 4.51 billion euros of 2-year and 5-year bonds, more than the maximum target of 4 billion euros. The average yield was 2.275% on the 2-year and 3.557% on the 5-year. Spain has covered about one-third of its mid- and long-term funding needs for the year.
The German March manufacturing PMI fell by -1.4 points to 48.9 from 50.3 in Feb, which was substantially weaker than market expectations for a +0.2 point increase to 50.3. The German March services PMI fell by -3.1 points to 51.6, which was substantially weaker than market expectations of +0.3 to 55.0.
The Eurozone March manufacturing PMI fell by -1.3 points to 46.6 from 47.9 in Feb, which was weaker than market expectations of +0.3 to 48.2. The Eurozone March services PMI fell by -1.4 points to 46.5 from 47.9 in Feb, which was weaker than market expectations for a +0.3 point increase to 48.2.
UK Feb retail sales (with auto fuel) rose sharply by +2.1% m/m, which was stronger than market expectations of +0.4% m/m and an improvement from the revised -0.7% m/m decline seen in Jan (prelim -0.6% m/m).
China's March HSBC flash manufacturing PMI rose by +1.3 points to 51.7 from 50.4 in Feb, which was stronger than market expectations for a +0.4 point increase to 50.8.
Japan's Feb adjusted merchandise trade balance of -1.087 trillion yen was narrower than market expectations of -1.103 trillion yen and was wider than the revised -737 billion yen deficit in Jan. Japanese Feb exports fell -2.9% y/y, which was weaker than market expectations for a decline of -1.7% y/y. Feb imports rose +11.9% y/y, less than market expectations of +15.0%.

U.S. STOCK PREVIEW

The Cyprus situation calmed down a bit yesterday with a sharp rally in European stocks and a decline in Spanish and Italian bond yields as the market seems to be relatively confident that a compromise will be reached. Today’s U.S. weekly initial unemployment claims report is expected to show an increase of +8,000 to 340,000, reversing most of last week’s decline of -10,000 to 332,000. Today’s Feb existing home sales report is expected to show a +1.6% increase to 5.0 million, adding to the +0.4% increase to 4.92 million seen in January. Today’s Jan FHFA house price index is expected to show another solid increase of +0.7% m/m, adding to the +0.6% m/m increase seen in December. Today’s March Philadelphia Fed manufacturing index is expected to show a +9.5 increase to -3.0, more than reversing the -6.7 point drop to -12.5 seen in January.
There are earnings reports today from IHS (consensus $0.85), ConAgra Foods (0.56), Ross Stores (1.07), Nike (0.67), Micron Technology (-0.20), and Tibco Software (0.18).
Conferences during the remainder of this week include Bank of America Merrill Lynch Global Industrials & EU Autos Conference on Tue-Thu, Gabelli Asset Management Specialty Chemicals & Agriculture Conference on Wed, International Strategy & Investment Group (ISI) Retail Summit on Wed, BB&T Commercial & Industrial Conference on Wed-Thu, J.P. Morgan Insurance Conference on Thu, National Coffee Association Annual Conference on Thu, Nomura Global Chemical Industry Leaders Conference on Thu, and The Future of Utilities - 18th Annual Conference on Tue-Thu.

June E-mini S&Ps (ESM13 unch) this morning are slightly lower by -1.25 points (-0.08%) on the -0.90% sell-off in European stocks, the weak Eurozone and German PMI reports, and the threat to cut off funding for the Cyprus banking system by Monday if there is no bailout agreement. The S&P 500 index on Wednesday closed moderately higher as the market was encouraged that the FOMC left QE3 intact and that Cyprus is working on a new plan to qualify for a bailout. Closes: S&P 500 +0.67%, Dow Jones +0.39%, Nasdaq 100 +0.67%.

OVERNIGHT U.S. STOCK MOVERS

IHS Inc (IHS -0.04%) reported Q1 adjusted EPS of 86 cents, 1 cent above the consensus of 85 cents.
Lululemon (LULU -0.31%) reported Q4 EPS of 75 cents, slightly above the consensus of 74 cents.
Oracle (ORCL +0.20%) fell sharply by 7% in after-hours trading after reporting Q3 EPS of 65 cents versus the consensus of 66 cents and saying that it is "not pleased with Q3 revenue growth" due to poor sales execution.
J.C. Penney (JCP -0.68%) rallied 1.4% in after-hours trading after announcing that bondholders rescinded their notice of default.
Raytheon (RTN -0.18%) increased its annual dividend payout by 10% to $2.20 from $2.00 per share.
Guess (GES +0.75%) fell 5% in after-hours trading after the company issued disappointing Q1 EPS guidance of 5-10 cents versus the consensus of 29 cents. Q4 adjusted EPS of 95 cents was stronger than the consensus of 87 cents.
Jabil Circuit (JBL +1.56%) fell 4% in after-hours trading after the company reported Q2 core EPS of 53 cents versus the consensus of 54 cents, and issued disappointing Q3 core EPS guidance of 50-58 cents versus the consensus of 61 cents.

MARKET COMMENTS

June 10-year T-notes (ZNM13 -0.10%) this morning are down -3.5 ticks. June 10-year T-note prices on Wednesday closed lower on reduced safe-haven demand with the rally in stocks and somewhat reduced concern about Cyrpus. Closes: TYM3 -5.5, FVM3 -1.25.
The dollar index (DXY00 -0.06%) this morning is slightly higher by +0.04 points (+0.05%) while EUR/USD (^EURUSD) is down -0.0010 (-0.08%). USD/JPY (^USDJPY) is down -0.67 yen (-0.70%). The dollar index on Wednesday closed mildly lower on reduced safe-haven demand with the +0.67% rally in the S&P 500 index and the +1.38% rally in the Euro Stoxx 50 index on reduced concerns about Cyprus. Closes: Dollar index -0.21 (-0.25%), EUR/USD +0.0051 (+0.40%), USD/JPY +0.85 (+0.89%).
May WTI crude oil (CLK13 -0.31%) is down -0.40 (-0.43%) and April gasoline (RBK13 -0.36%) is down -0.0112 (-0.36). Crude oil and gasoline prices on Wednesday rallied sharply on (1) the recovery in global stock prices, (2) the -1.314 mln bbl drop in crude oil inventories vs expectations for a +2.0 mln bbl increase, and (3) the small -0.1% decline in U.S. oil production to 7.150 mln bpd from the previous week’s 20-1/2 year high of 7.159 mln bpd. Closes: CLJ3 +0.80 (+0.87%), RBJ3 +0.0712 (+2.34%).

GLOBAL EVENT CALENDAR03/21/2013

US	0830 ET	Weekly initial unemployment claims expected +8,000 to 340,000, previous -10,000 to 332,000. Weekly continuing claims expected +26,000 to 3.050 mln, previous -89,000 to 3.024 mln.
	0830 ET	USDA weekly Export Sales.
	0900 ET	Jan FHFA house price index expected +0.7% m/m, Dec +0.6% m/m.
	0900 ET	Treasury announces details of 2, 5 and 7-year T-notes March 26-28.
	1000 ET	Mar Philadelphia Fed manufacturing index expected +9.5 to -3.0, Feb -6.7 to -12.5.
	1000 ET	Feb existing home sales expected +1.6% to 5.0 mln, Jan +0.4% to 4.92 mln.
	1000 ET	Feb leading indicators expected +0.4% m/m, Jan +0.2% m/m.
	1300 ET	Treasury sells $13 billion in 10-year TIPS.
JPN	0030 ET	Japan Jan all-industry activity index expected -1.3% m/m, Dec +1.8% m/m.
	0100 ET	Japan Feb supermarket sales, Jan -4.7% y/y.
	0300 ET	Japan Feb convenience store sales, Jan -0.9% y/y.
GER	0430 ET	German March PMI manufacturing, expected 50.5 Feb 50.3. March PMI services expected 55.0, Jan 54.7.
EUR	0500 ET	Eurozone March PMI manufacturing expected 48.2, Feb 47.9. March PMI services expected 48.2, Feb 47.9.
UK	0530 ET	UK Feb retail sales ex-auto fuel expected +0.6% m/m and +1.2% y/y, Jan -0.5% m/m and +0.2% y/y. Feb retail sales with auto fuel expected +0.4% m/m and +0.5% y/y, Jan -0.6% m/m and -0.6% y/y.
	0530 ET	UK Feb public finances (PSNCR) expected -12.0 bln pounds, Jan -35.6 bln pounds. Feb PSNB ex-interventions expected 8.0 bln pounds, Jan -11.4 bln pounds. Feb public sector net borrowing expected 8.2 bln pounds, Jan was -9.9 bln pounds.
	0700 ET	UK March CBI trends total orders expected -15, Feb -14. March CBI trends selling prices expected 17, Feb 20.

U.S. STOCK CALENDAR03/21/2013

Company Name	Symbol	Time	Event Description	Period	EPS Est (US$)
IHS Inc	IHS US	Bef-mkt	Q1 2013 Earnings Release	Q1 2013	0.853
ConAgra Foods Inc	CAG US	7:30	Q3 2013 Earnings Release	Q3 2013	0.563
IHS Inc	IHS US	8:00	Q1 2013 Earnings Call	Q1 2013
Palo Alto Networks Inc	PANW US	8:00	Analyst Day	Y 2013
Ross Stores Inc	ROST US	8:30	Q4 2013 Earnings Release	Q4 2013	1.07
Cooper Cos Inc/The	COO US	9:00	Annual General Meeting	Y 2013
Sigma-Aldrich Corp	SIAL US	9:30	Business Update Call
Ross Stores Inc	ROST US	11:00	Q4 2013 Earnings Call	Q4 2013
Comcast Corp	CMCSA US	11:15	Economic Club of Washington, D.C. Presents CEO Brian L. Roberts
Viacom Inc	VIAB US	14:00	Annual General Meeting	Y 2013
NIKE Inc	NKE US	16:15	Q3 2013 Earnings Release	Q3 2013	0.672
Micron Technology Inc	MU US	16:30	Q2 2013 Earnings Call	Q2 2013
TIBCO Software Inc	TIBX US	16:30	Q1 2013 Earnings Call	Q1 2013
NIKE Inc	NKE US	17:00	Q3 2013 Earnings Call	Q3 2013
Micron Technology Inc	MU US	Aft-mkt	Q2 2013 Earnings Release	Q2 2013	-0.197
TIBCO Software Inc	TIBX US	Aft-mkt	Q1 2013 Earnings Release	Q1 2013	0.181
Apple Inc	AAPL US		Apple Inc. v. Amazon.com Inc. - Settlement Negotiations
United Parcel Service Inc	UPS US		Roadshow - Day 4	Y 2013
Amazon.com Inc	AMZN US		Apple Inc. v. Amazon.com Inc. - Settlement Negotiations

Wednesday, March 20, 2013

Lennox International (LII) Barchart's Chart of the Day

Summary:

Lennox International (LII) is today's Chart of the Day. The stock triggered a chain of Trend Spotter buys and since 10/24 has risen more that 30%. In the last month alone the stock advanced in 16 sessions for a gain of 12.71%.

Article:

Today's Chart of the Day is Lennox International (LII) who in the last month has advanced in 16 sessions for a 12.71% gain. Since 10/24 the Trend Spotter has been either buy or hold and the stock is up 30%. The stock was near the top of the Barchart New High list after sorting for frequency.

The Company is a global provider of climate control solutions. They design, manufacture and market a broad range of products for the heating, ventilation, air conditioning and refrigeration markets. The products are sold under brand names that include Lennox, Armstrong Air, Bohn, Larkin, Heatcraft and others.

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
16 new highs and up 12.71% in the last month
Relative Strength Index 78.91%
Barchart computes a technical support level at 63.70
Recently traded at 65.34 with a 50 day moving average of 58.74

Fundamental factors:

Market Cap $3.29 billion
P/E 25.48
Dividend yield 1.26%
Revenue projected to increase 4.90% this year and another 6.10% next year
Earnings estimated to increase 25.60% this year, an additional 20.10% next year and continue to rise at the annual rate of 18.63% for the next 5 years
Analysts are mixed with 2 strong buy, 7 hold and 3 strong sell recommendations despite positive earnings forecasts
Financial Strength B++

Exit strategy: Consider a sale if you lose 10% from your entry point or the stock trades below is 50 day moving average.

5 Consistent Small Caps

Today I sorted the S & P SmallCap 600 Index to find the stocks with the best Barchart technical indicators and charts. Today's list includes Sonic (SONC), Selective Insurance Group (SIGI), Sanderson Farms (SAFM), RLI Corp (RLI) and Neogen Corp (NEOG):

Sonic (SONC)

Barchart technical indicators:

100% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
9 new highs and up 7.56% in the last month
Relative strength Index 64.94%
Barchart computes a technical support level at 11.72
Recently traded at 11.99 with a 50 day moving average of 11.32

Selective Insurance Group (SIGI)

Barchart technical indicators:

100% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
8 new highs and up 4.96% in the last month
Relative Strength Index 75.95%
Barchart computes a technical support level at 22.87
Recently traded at 23.27 with a 50 day moving average of 21.48

Sanderson Farms (SAFM)

Barchart technical indicators:

100% Bachart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
11 new highs and up 7.13% in the last month
Relative Strength Index 72.51%
Barchart computes a technical support level at 53.16
Recently traded at 53.73 with a 50 day moving average of 51.46

RLI Corp (RLI)

Barchart technical indicators:

100% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
9 new highs and up 4.54% in the last month
Relative Strength Index 71.09%
Barchart computes a technical support level at 70.91
Recently traded at 72.09 with a 50 day moving average of 68.87

Neogen Corp (NEOG)

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 3.62% in the last month
Relative Strength Index 67.45%
Barchart computes a technical support level at 47.47
Recently traded at 49.02 with a 50 day moving average of 46.97

Barchart Morning Call 3/20

Barchart Morning call

Wednesday, March 20th, 2013

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Everything you need to know about the markets in one free daily newsletter.

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OVERNIGHT MARKETS AND NEWS

June E-mini S&Ps (ESM13 +0.26%) are up +0.32% this morning on a +0.51% rally in the Euro Stoxx 50 index and a sharp 3.37% rally in China's CSI 300 index. The Japanese markets were closed today for a public holiday. The markets are hoping for a compromise on a Cyprus bailout. Commodity prices this morning are moderately higher by +0.42%. April crude oil (CLJ13 +0.75%) is up +0.71%, April gasoline (RBJ13 +0.37%) is up +0.25%, April gold (GCJ13 -0.22%) is down -0.06%, May copper (HGK13 +0.95%) is up +1.01%, grains and softs are higher, and livestock is lower. The dollar index (DXY00 -0.18%) is down -0.23%. EUR/USD (^EURUSD) is up +0.25% and USD/JPY (^USDJPY) is up +0.27%. June 10-year T-notes (ZNM13 -0.10%) are down -4.5 ticks.
The U.S. MBA mortgage applications index for the week ended March 15 fell by -7.1% with the purchase sub-index down -3.9% and the refinancing sub-index down -8.0%. The 30-year mortgage rate last week rose by 11 bp to a 6-1/2 month high of 3.63%.
Luxembourg's finance minister Luc Frieden called for a Eurozone finance ministers meeting to produce a new bailout package for Cyprus. Banks and the stock market in Cyprus were closed again today after the Cypriot parliament yesterday defeated the one-time tax levy on bank deposits demanded by Eurozone officials as part of a 10 billion euro bailout. There is now likely to be a big run on Cypriot banks when banks reopen if there is no bailout deal and the deposit tax levy is not resolved one way or another. German Chancellor Merkel today said that the Cyprus banking sector must contribute in some way to the bailout. The Spanish 10-year bond yield today fell by 4 bp to 5.00% as worries eased about Cyprus.
North Korea is suspected in a cyber attack today on computer networks at some of South Korea's largest banks and broadcasters, ramping up tensions on the Korean peninsula. North Korea's rhetoric in recent days has reached a fever pitch after the new round of UN sanctions for its third nuclear test. In addition, the U.S. and South Korea are engaged in military exercises that involved flying an American B-52 bomber from Guam over South Korea as a show of force. South Korean stocks today fell 1.06%.
Germany today sold 4 billion euros of 10-year bunds at an average yield of 1.36%, down by 30 bp from 1.66% at the last auction on Feb 20. The bid cover ratio was strong at 1.62 versus 1.25 at the Feb 20 auction. Today's strong German 10-year bund auction was driven by safe-haven demand with the latest iteration of the Eurozone debt crisis caused by the botched Cyprus bailout.
The minutes from the March 6-7 BOE meeting showed that the majority of members on the Monetary Policy Committee voted against restarting the BOE's quantitative easing program, defying BOE Governor King's push to restart QE. The majority said that UK inflation is currently too high to restart QE.
The German Feb producer price report of -0.1% m/m and +1.2% y/y was weaker than market expectations of +0.2% m/m and +1.5% y/y and was down from the Jan report of +0.8% m/m and +1.7% y/y.
The Jan Eurozone current account (sa) was reported at 14.8 billion euros, which was down from the revised 16.0 billion euro figure in Dec (preliminary 13.9 billion euros).
The UK Feb claimant count rate of 4.7% was in line with market expectations and unchanged from Jan. UK jobless claims fell by -1,500, which showed a slightly weaker labor market than market expectations for a decline of -5,000. Jobless claims fell by a revised -10,000 in Jan (preliminary -12,500). The UK Jan ILO unemployment rate (3mo) was unchanged from Dec at 7.8%.

U.S. STOCK PREVIEW

Today's main focus will be on (1) the Eurozone debt crisis as the markets wait to see if Eurozone officials and Cyprus can reach a compromise on a bailout plan after the Cyprus parliament yesterday soundly rejected the Eurozone's demand for a tax on bank deposits, and (2) outcome of today's FOMC meeting. The market consensus is that the FOMC will leave its QE3 program unchanged and that Fed Chairman Bernanke in his post-meeting press conference will strongly defend QE3. There are earnings reports today from General Mills (consensus $0.57), Lennar (0.15), FedEx (1.38), Jabil Circuit (0.54), Oracle (0.66), and Guess (0.87).
Conferences during the remainder of this week include Consumer Analyst Group of Europe (CAGE) Conference on Mon-Wed, Howard Weil Energy Conference on Mon-Wed, ISI Group Retail Summit on Tue, Barclays Emerging Payments Forum on Tue-Wed, Bank of America Merrill Lynch Global Industrials & EU Autos Conference on Tue-Thu, Gabelli Asset Management Specialty Chemicals & Agriculture Conference on Wed, International Strategy & Investment Group (ISI) Retail Summit on Wed, BB&T Commercial & Industrial Conference on Wed-Thu, J.P. Morgan Insurance Conference on Thu, National Coffee Association Annual Conference on Thu, Nomura Global Chemical Industry Leaders Conference on Thu, and The Future of Utilities - 18th Annual Conference on Tue-Thu.

June E-mini S&Ps (ESM13 +0.26%) this morning are up +5.00 points (+0.32%) on strength in the European and Asian stock markets and on reduced concern about Cyprus. The S&P 500 index on Tuesday closed mildly lower as the Cyprus parliament voted down the bank deposit tax. However, stocks received some encouragement from the stronger than expected Feb U.S. housing starts and building permits report. Closes: S&P 500 -0.24%, Dow Jones +0.03%, Nasdaq 100 -0.18%.

OVERNIGHT U.S. STOCK MOVERS

FedEx (FDX -0.77%) is down 3.2% in pre-market trading this morning after reporting Q3 EPS of $1.23 ex-business realignment costs, below the consensus $1.38. FedEx said its realignment costs mainly involve its voluntary buyout program for managers.
General Electric (GE +0.30%) may consider spinning off GE Capital, according to a report by Dow Jones.
BlackBerry (BBRY +0.07%) was upgraded by two notches to Overweight from Underweight at Morgan Stanley due to expanding margins and selling prices.
American Realty Capital Properties (ARCP unch) offered to buy Cole Property Trust III for at least $5.7 billion.
China-based solar-company Suntech (STP -7.81%) today declared a bankruptcy reorganization, according to China's official Xinhua News Agency. There was no official announcement from the company. A bankruptcy action has been expected after Suntech last Friday defaulted on repayment of more than $500 billion of convertible bonds.
Adobe (ADBE -0.75%) rallied 5% in after-hours trading after reporting Q1 adjusted EPS of 35 cents, above the consensus of 31 cents.
Williams-Sonoma (WSM -0.75%) rallied 6% in after-hours trading after announcing better-than-expected earnings, a dividend hike, and a $750 million share repurchase program. The company reported Q4 EPS of $1.34, above the consensus of $1.29.
Erickson Air-Crane (EAC +2.69%) rallied 15% in after-hours trading after news that it was acquiring Evergreen Helicopters for $250 million.
Fuel Tech (FTEK +1.13%) fell 9% in after-hours trading after reporting Q4 EPS with items of zero, below the consensus of 5 cents.
Cintas (CTAS +0.99%) fell 3% in after-hours trading on weaker-than-expected earnings.
Maxwell Technologies (MXWL +0.40%) fell 5% after announcing a delay in its quarterly report due to material weaknesses in its internal controls.
Gevo (GEVO +6.74%) rallied 7% in after-hours trading after a ruling that it did not infringe on patents held by Butamax Advanced Biofuels.

MARKET COMMENTS

June 10-year T-notes (ZNM13 -0.10%) this morning are down by -4.5 ticks on reduced safe-haven demand. June 10-year T-note prices on Tuesday closed with solid gains once again due to a continued increase in safe-haven demand with Cyprus teetering on the edge of chaos and with the mildly lower close in the S&P 500 index. Closes: TYM3 +11.5, FVM3 +4.5.
The dollar index (DXY00 -0.18%) is down -0.19 points (-0.23%) and EUR/USD (^EURUSD) is up +0.0032 (+0.25%) on reduced concern about Cyprus. USD/JPY (^USDJPY) is up +0.26 (+0.27%). The dollar index on Tuesday closed moderately higher and EUR/USD closed lower on the chaotic Cyprus bailout situation, which has the chance of devolving into a full sovereign default and Cypriot banking meltdown. EUR/USD received some underlying support from the +0.3 point increase in the German Zew economic sentiment index to a new 3-year high, although that was offset by a sharp -9 point drop in the Eurozone Zew economic sentiment index. Mr. Kuroda on Tuesday officially took over as the new governor of the BOJ. Closes: Dollar index +0.30 (+0.36%), EUR/USD -0.0075 (-0.58%), USD/JPY -0.05 (-0.05%).
April WTI crude oil (CLJ13 +0.75%) this morning is up +0.65 (+0.71%) and April gasoline (RBJ13 +0.37%) is up +0.0076 (+0.25%). Crude oil and gasoline prices on Tuesday closed sharply lower on (1) concern about Eurozone growth with the Cyprus bank deposit tax debacle, (2) a recovery in North Sea oil production, and (3) a +278,000 bbl increase in gasoline inventories in yesterday’s API report versus expectations of -2 million bbls. Closes: CLJ3 -1.58 (-1.69%), RBJ3 -0.0838 (-2.68%).

GLOBAL EVENT CALENDAR03/20/2013

US	0700 ET	Weekly MBA mortgage applications, previous -4.7% with purchase sub-index -2.5% and refi sub-index -5.2%.
	1030 ET	DOE Weekly Petroleum Status Report.
	1400 ET	FOMC interest rate decision.
	1400 ET	Fed releases its Summary of Economic Projections.
	1430 ET	Fed Chairman Ben Bernanke holds press conference in Washington D.C.
GER	0300 ET	German Feb producer prices expected +0.2% m/m and +1.5% y/y, Jan +0.8% m/m and +1.7% y/y.
EUR	0500 ET	Eurozone Jan current account nsa, Dec 27.0 bln euros. Jan current account, Dec 13.9 bln euros.
	1100 ET	Eurozone March consumer confidence, Feb -23.6.
UK	0530 ET	UK Bank of England minutes.
	0530 ET	UK Feb claimant count rate expected 4.7%, Jan 4.7%. Feb jobless claims change expected -5,000, Jan -12,500.
	0530 ET	UK Jan ILO unemployment rate (3mo) expected unch at 7.8%, Dec 7.8%. Jan employment change (3mo/3mo) expected +140,000, Dec +154,000.
	0530 ET	UK Jan average weekly earnings expected +1.5% 3mo y/y, Dec +1.4% 3mo y/y. Jan weekly earnings ex-bonus expected +1.5% 3mo y/y, Dec +1.3% 3mo y/y.
	n/a	UK Chancellor Osborne presents 2013 budget to Parliament.
JPN	n/a	Japanese markets closed for Verbal Equinox Day public holiday.
	1950 ET	Japan Feb merchandise trade balance expected -856 bln yen, Jan -1.631 bln yen. Feb adjusted merchandise trade balance expected -1.099 trillion yen, Jan -679 bln yen. Feb exports expected -1.2% y/y, Jan +6.4% y/y. Feb imports expected +14.9% y/y, Jan +7.3% y/y.
CHI	2145 ET	China March HSBC flash manufacturing PMI expected +0.5 to 50.9, Feb -1.9 to 50.4.

U.S. STOCK CALENDAR03/20/2013

Company Name	Symbol	Time	Event Description	Period	EPS Est (US$)
General Mills Inc	GIS US	Bef-mkt	Q3 2013 Earnings Release	Q3 2013	0.568
Lennar Corp	LEN US	6:00	Q1 2013 Earnings Release	Q1 2013	0.154
Covidien PLC	COV US	7:00	Annual General Meeting	Y 2012
FedEx Corp	FDX US	7:30	Q3 2013 Earnings Release	Q3 2013	1.379
Abbott Laboratories	ABT US	8:00	FDA Adcomm, MitraClip, Transcatheter Mitral Valve
FedEx Corp	FDX US	8:30	Q3 2013 Earnings Call	Q3 2013
General Mills Inc	GIS US	8:30	Q3 2013 Earnings Call	Q3 2013
Terex Corp	TEX US	9:00	Analyst Meeting	Y 2013
Flowserve Corp	FLS US	9:00	Analyst Day	Y 2013
Lennar Corp	LEN US	11:00	Q1 2013 Earnings Call	Q1 2013
Agilent Technologies Inc	A US	11:00	Annual General Meeting	Y 2013
Flowers Foods Inc	FLO US	12:15	Analyst Day	Y 2013
Starbucks Corp	SBUX US	13:00	Annual General Meeting	Y 2013
Jabil Circuit Inc	JBL US	16:30	Q2 2013 Earnings Release	Q2 2013	0.537
Jabil Circuit Inc	JBL US	16:30	Q2 2013 Earnings Call	Q2 2013
Guess? Inc	GES US	16:30	Q4 2013 Earnings Call	Q4 2013
Hewlett-Packard Co	HPQ US	17:00	Annual General Meeting	Y 2013
Oracle Corp	ORCL US	17:00	Q3 2013 Earnings Call	Q3 2013
Salesforce.com Inc	CRM US	17:00	Extraordinary Shareholders Meeting	Y 2013
Oracle Corp	ORCL US	Aft-mkt	Q3 2013 Earnings Release	Q3 2013	0.662
Guess? Inc	GES US	Aft-mkt	Q4 2013 Earnings Release	Q4 2013	0.871
Citigroup Inc	C US		Extraordinary Shareholders Meeting
Raymond James Financial Inc	RJF US		February 2013 Sales and Revenue Release - Operating Data Results	2013
United Parcel Service Inc	UPS US		Roadshow - Day 3	Y 2013

Tuesday, March 19, 2013

Southwest Airline (LUV) Barchart's Chart of the Day

Summary:

Southwest Airline (LUV) hit a series of Trend Spotter buys beginning on 11/8 and since then has risen 38%. In the last month the stock advanced 16 times for a gain of 8.03%

Article:

The Chart of the Day is Southwest Airline (LUV). The Trend Spotter signaled a buy on 11/8 and the stock is up 38% since then. The 96% Barchart technical buy signal was earned by advancing 16 times and gaining 8.03% in the last month. The stock was found on the Barchart New High list after sorting for frequency.

They are a major domestic airline that provides primarily shorthaul, high-frequency, point-to-point, low-fare service. Southwest operates over Boeing 737 aircraft in numerous cities.

96% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
16 new highs and up 8.03% in the last month
Relative Strength Index 71.48%
Barchart computes a technical support level at 12.41
Recently traded at 12.64 with a 50 day moving average of 11.61

Fundamental factors:

Market Cap - $9.33 billion
P/E 22.11
Dividend yield .32%
Revenue projected to increase 5.70% this year and another 3.40% next year
Earnings estimated to increase 76.80% this year, an additional 21.20% next year and continue to increase annually at the rate of 32.65% for the next 5 years
Analysts issued 8 strong buy, 1 buy, 4 hold and a sell recommendation
Financial Strength B+

Exit strategy: Consider a sell if you lose 10% or the stock trades below its 50 day moving average.

5 Consistent Mid Caps

Today I used Barchart to sort the S & P Mid Cap 400 Index to find the stocks with the best Barchart technical indicators and charts. The list includes WR Berkley (WRB), ValueClick (VCLK), Tootsie Roll Industries (TR), The Hanover Insurance Group (THG) and Triumph Group (TGI):

WR Berkley (WRB)

Barchart technical indicators:

100% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
11 new highs and up 3.91% in the last month
Relative strength Index 72.99%
Barchart computes a technical support level at 12.60
Recently traded at 43.28 with a 50 day moving average of 41.27

ValueClick (VCLK)

Barchart technical indicators:

100% Barchart technical buy signals
Trend spotter buy signal
Above its 20, 50 and 100 day moving averages
8 new highs and up 12.02% in the last month
Relative Strength Index 77.63%
Barchart computes a technical support level at 26.37
Recently traded at 30.15 with a 50 day moving average of 23.62

Tootsie Roll Industries (TR)

Barchart technical indicators:

100% Barchatrt technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
9 new highs and up 3.98% in the last month
Relative Strength Index 66.90%
Barchart computes a technical support level at 28.62
Recently traded at 29.03 with a 50 day moving average of 27.50

The Hanover Insurance Group (THG)

Barchart technical indicators:

100% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
11 new highs and up 8.58% in the last month
Relative strength Index 80.74%
Barchart computes a technical support level at 42.62
Recently traded at 46.33 with a 50 day moving average of 41.92

Triumph Group (TGI)

Barchart technical indicators:

100% Barchart technical buy signals
Trend Spotter buy signals
Above its 20, 50 and 100 day moving averages
7 new highs and up 6.68% in the last month
Relative Strength Index 76.92%
Barchart computes a technical support level at 76.53
Recently traded at 78.98 with a 50 day moving average of 72.20

BNC Bancorp (BNCN) and United Security Bancshares (UBFO) Buy Signals

Today I added BNC Bancorp (BNCN) and United Security Bancshares (UBFO) to the Barchart Van Meerten Speculative portfolio for great Barchart technical indicators and charts:

BNC Bancorp (BNCN)

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
17 new highs and up 14.46% in the last month
Relative Strength Index 66.99%
Barchart computes a technical support level at 9.30
Recently traded at 9.50 with a 50 day moving average of 8.68

United Security Bancshares (UBFO)

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signals
Above its 20, 50 and 100 day moving averages
17 new highs and up 12.71% in the last month
Relative strength Index 69.70%
Barchart computes a technical support level at 4.04
Recently traded at 4.24 with a 50 day moving average of 3.66

Verizon Communications (VZ) - Buy Signals

Today I added Verizon Communications (VZ) to the Barchart Van Meerten New High portfolio for excellent price momentum:

Barchart technical indicators:

96% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
15 new highs and up 9.93% in the last month
Relative Strength Index 73.36%
Barchart computes a technical support level at 47.43
Recently traded at 48.91 with a 50 day moving average of 44.99

Barchart Morning Call 3/19

BARCHART MORNING CALL - Tuesday, March 19th, 2013

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OVERNIGHT MARKETS AND NEWS

June E-mini S&Ps (ESM13 +0.11%) this morning are little changed and have been able to shake off a further -0.70% loss today in the Euro Stoxx 50 index on the Cyprus depositor tax debacle. A small increase in Germany's Zew economic outlook index to a 3-year high provided some help to the markets overnight, except that the overall Eurozone Zew economic outlook index plunged by 9.0 points. Asian stock markets today closed mixed. The Nikkei index closed +2.03% and the China CSI 300 index closed +0.90%, but the Hang Seng index closed -0.19%. Commodity prices are slightly higher by +0.05% this morning. April crude oil (CLJ13 +0.27%) is up +0.10%, April gasoline (RBJ13 -0.55%) is down -0.81%, April gold (GCJ13 -0.12%) is down -0.15%, May copper (HGK13 -0.23%) is down -0.20%, grains and softs are trading mostly higher, and livestock is trading lower. The dollar index (DXY00 +0.02%) this morning is virtually unchanged and EUR/USD (^EURUSD) is slightly lower by -0.09%. USD/JPY (^USDJPY) is up +0.13%. June 10-year T-notes (ZNM13 +0.13%) are up 6.5 ticks.
The Cyprus parliament is due to vote later today on the one-time tax on depositors. Cyprus banks and the Cyprus stock market are closed through at least Thursday. The Cyprus parliament has no real choice but to approve the depositor tax totaling 5.8 billion euros since it is being required by the troika for a 10 billion euro bailout and because Cyprus banks will be quickly drained of nearly all their deposits and funding if they reopen without the tax being levied and removed from accounts. However, Cypriot President Anatasiades has warned that he may not be able to get parliament to approve the effective confiscation of depositor funds. If parliament does not approve the tax, then Cyprus will be in an even bigger mess with no Eurozone bailout and with banks that have severely impaired deposits and even larger funding liabilities. French Finance Minister Moscovici today summed up the lack of a coherent Eurozone plan on the Cyprus bailout approach by saying "I don't think about plan B's. We're in a Plan A. Everyone has to assume their responsibilities."
Spain today successfully sold 4 billion euros of 3 and 9-month bills, hitting its maximum target. The 3-month bills were sold at an average 0.285%, down from 0.421% at the last 3-month auction on Feb 19. The 9-month bills were sold at an average 1.007%, down from 1.144% at the last auction. The bid cover ratios were 3.3 times for the 3-month bill and 2.45 times for the 9-month bills.
The German March Zew economic sentiment index rose slightly by +0.3 points to a 3-year high of 48.5 from 48.2 in Feb and was stronger than market expectations for a -0.1 point dip to 48.1. The German Zew current situation index rose to 13.6 from 5.2 in Feb and was substantially stronger than market expectations of 6.0.
The Eurozone Zew economic sentiment index fell sharply by -9.0 points to 33.4 from 42.4 in Feb.
Japan's final-Jan leading index CI was revised lower to 95.0 from the preliminary report of 96.3. The final-Jan coincident index was revised lower to 91.6 from 92.0.
Japan's Feb nationwide department store sales report of +0.3% y/y was slightly stronger than market expectations of +0.2% y/y. In addition, the Feb Tokyo department store sales report of +2.5% y/y was stronger than market expectations of +0.5% y/y.
The UK Feb PPI output (nsa) price index rose +0.8% m/m and +2.3% y/y, which was stronger than market expectations of +0.4% m/m and +1.8% y/y, which was an unwelcome development by the BOE on the inflation front. The Feb core output PPI price index eased to +1.3% y/y from +1.4% y/y in Jan but did not fall to +1.1% y/y as expected.
The UK Feb CPI report of +0.7% m/m and +2.8% was in line with market expectations and was up from -0.5% m/m and +2.7% y/y in Jan. The Feb core CPI was unchanged from Jan at +2.3% y/y, stronger than market expectations of +2.2% y/y.
Power has been mostly restored at Japan's troubled Fukushima nuclear power plant after a brief outage. A power outage of more than four days could have caused stored fuel rods at the plant to start overheating. There were no reported radiation leaks from today's power outage.

U.S. STOCK PREVIEW

Today's main focus will be on (1) the Eurozone debt crisis as the Cyprus parliament struggles to approve the depositor tax, and (2) the outcome of the 2-day FOMC meeting that begins today. Today’s Feb U.S. housing starts report is expected to show a +2.8% increase to 915,000 units, recovering a bit after the -8.5% decline to 890,000 seen in January. Earnings report today include Factset Research (consensus $1.24), DSW (0.72), Adobe Systems (0.31), Cintas (0.62), and Williams-Sonoma (1.29).
Conferences during the remainder of this week include Consumer Analyst Group of Europe (CAGE) Conference on Mon-Wed, Howard Weil Energy Conference on Mon-Wed, ISI Group Retail Summit on Tue, Barclays Emerging Payments Forum on Tue-Wed, Bank of America Merrill Lynch Global Industrials & EU Autos Conference on Tue-Thu, Gabelli Asset Management Specialty Chemicals & Agriculture Conference on Wed, International Strategy & Investment Group (ISI) Retail Summit on Wed, BB&T Commercial & Industrial Conference on Wed-Thu, J.P. Morgan Insurance Conference on Thu, National Coffee Association Annual Conference on Thu, Nomura Global Chemical Industry Leaders Conference on Thu, and The Future of Utilities - 18th Annual Conference on Tue-Thu.

June E-mini S&Ps (ESM13 +0.11%) this morning are slightly lower by -0.25 points (-0.02%). The stock market continues to see downward pressure from Europe with the -0.70% sell-off in the Euro Stoxx 50 index and the ongoing debacle with the tax on Cyprus bank depositors. The S&P 500 index on Monday closed with fairly sharp losses as the Eurozone debt crisis returned with the dangerous precedent set by Eurozone officials of forcing depositors to help pay for bailout packages. In addition, the strong Chinese property price report on Sunday night increased the chances for more hawkish Chinese government action on the property markets. Closes: S&P 500 -0.55%, Dow Jones -0.43%, Nasdaq -0.25%.

OVERNIGHT U.S. STOCK MOVERS

DSW (DSW -0.83%) reported Q4 adjusted EPS of 69 cents, below the consensus of 72 cents.
FactSet (FDS -1.27%) reported Q2 adjusted EPS of $1.14, above the consensus of $1.11.
Electronic Arts (EA -0.90%) rallied 3% in after-hours trading after the company that it expects earnings and revenue in Q1 at the lower end or slightly below previous guidance of 57-72 cents (consensus 65 cents) and that the company's CEO John Riccitiello is leaving the company.
Fitch removed Equity Residential (EQR -0.89%) from rating watch negative and changed the outlook to stable.
Lululemon (LULU -3.77%) fell 6% in after-hours trading after the company cut its guidance for Q1 revenue to $333-$343 million from $350M-$355 million, versus the consensus of $353 million.
Hospitality Properties (HPT -0.11%) fell 4% in after-hours trading filing to sell 10 million shares of common stock.
Smith & Wesson (SWHC +1.74%) fileed a $250 million mixed securities shelf securities registration.

MARKET COMMENTS

June 10-year T-notes (ZNM13 +0.13%) this morning are up +6.5 ticks on continued safe-haven demand. June 10-year T-note prices on Monday continued to rally on the return of the Eurozone debt crisis and on the weaker-than-expected NAHB housing market index. Closes: TYM3 +10, FVM3 +3.75.
The dollar index (DXY00 +0.02%) this morning is slightly higher by +0.03 points (+0.04%) and EUR/USD (^EURUSD) is slightly lower by -0.0012 (-0.09%). USD/JPY (^USDJPY) is up +0.12 (+0.13%). The dollar index on Monday rallied sharply on increased safe-haven demand with the botched Cyprus bailout, which caused contagion to other nations and caused a sharp sell-off in global stocks. The Cyprus bailout, and the difficulty of getting the deposit tax passed by the Cyprus parliament caused a sharp sell-off in EUR/USD. Closes: Dollar index +0.43 (+0.53%), EUR/USD -0.0119 (-0.91%), USD/JPY -0.07 (-0.07%).
April WTI crude oil (CLJ13 +0.27%) this morning is up +0.09 (+0.10%) and April gasoline (RBJ13 -0.55%) is down -0.0254 (-0.81%). Crude oil and gasoline on Friday closed mixed on downward pressure from the sharp rally in the dollar index and concerns about fuel demand with the return of the Eurozone debt crisis. CLJ3 +0.29 (+0.31%), RBJ3 -0.0349 (-1.10%).

GLOBAL EVENT CALENDAR03/19/2013

US	0830 ET	Feb housing starts expected +2.8% to 915,000, Jan -8.5% to 890,000. Feb building permits expected +2.1% to 923,000, Jan -0.6% to 904,000.
	0900 ET	FOMC begins 2-day policy meeting.
	1630 ET	API weekly U.S. oil statistics.
	n/a	U.S. Treasury Secretary Jack Lew begins 2-day visit to China.
JPN	0100 ET	Japan final-Jan leading index CI, prelim 96.3. Final-Jan coincident index CI, prelim 92.0.
	0130 ET	Japan Feb nationwide department store sales, Jan +0.2% y/y. Feb Tokyo department store sales, Jan +0.5% y/y.
	n/a	Haruhiko Kuroda takes over as BOJ Governor from outgoing Masaaki Shirakawa.
EUR	0300 ET	EU27 Feb new car registrations, Jan -8.7% y/y.
	0600 ET	Eurozone Jan construction output, Dec -1.7% m/m and -4.8% y/y.
	0600 ET	Eurozone March Zew economic sentiment index, Feb 42.4.
GER	0600 ET	German March Zew current situation index expected 6.0, Feb 5.2. March Zew economic sentiment expected 48.1, Feb 48.2.
UK	0530 ET	UK Feb PPI input nsa expected +1.5% m/m and +0.8% y/y, Jan +1.3% m/m and +1.8% y/y. UK Feb PPI output nsa expected +0.4% m/m and +1.8% y/y, Jan +0.2% m/m and +2.0% y/y. Feb PPI output core nsa expected +0.3% m/m and +1.1% y/y, Jan +0.2% m/m and +1.4% y/y.
	0530 ET	UK Feb CPI expected +0.7% m/m and +2.8% y/y, Jan -0.5% m/m and +2.7% y/y. Feb core CPI expected +2.2% y/y, Jan +2.3% y/y.
	0530 ET	Feb RPI expected +0.8% m/m and +3.3% y/y, Jan -0.4% m/m and +3.3% y/y. Feb RPI ex-mortgage interest payments expected +3.2% y/y, Jan +3.3% y/y.
	0530 ET	UK Jan ONS house price index expected +2.4% y/y, Dec +3.3% y/y.

U.S. STOCK CALENDAR03/19/2013

Company Name	Symbol	Time	Event Description	Period	EPS Est (US$)
FactSet Research Systems Inc	FDS US	Bef-mkt	Q2 2013 Earnings Release	Q2 2013	1.238
DSW Inc	DSW US	7:00	Q4 2013 Earnings Release	Q4 2013	0.716
DSW Inc	DSW US	8:30	Q4 2013 Earnings Call	Q4 2013
FactSet Research Systems Inc	FDS US	11:00	Q2 2013 Earnings Call	Q2 2013
Brocade Communications Systems Inc	BRCD US	13:00	Roadshow - Irvine	Y 2013
NVIDIA Corp	NVDA US	14:30	Financial Analyst Presentation	Y 2013
Adobe Systems Inc	ADBE US	17:00	Q1 2013 Earnings Call	Q1 2013
Cintas Corp	CTAS US	17:00	Q3 2013 Earnings Call	Q3 2013
Williams-Sonoma Inc	WSM US	17:00	Q4 2013 Earnings Call	Q4 2013
Adobe Systems Inc	ADBE US	Aft-mkt	Q1 2013 Earnings Release	Q1 2013	0.311
Cintas Corp	CTAS US	Aft-mkt	Q3 2013 Earnings Release	Q3 2013	0.618
Williams-Sonoma Inc	WSM US	Aft-mkt	Q4 2013 Earnings Release	Q4 2013	1.293
Alliant Energy Corp	LNT US		Investor Meeting - Chicago	Y 2013
RPM International Inc	RPM US		Roadshow - Califonia Day 2	Y 2013
United Parcel Service Inc	UPS US		Roadshow - Day 2	Y 2013