Financial Tides -- A Stock Market Investing Newsletter by Jim Van Meerten: 2014-03-16

Saturday, March 22, 2014

Minco Gold and Novavax - sell signals

Today I deleted Minco Gold Corp (MGH) and Novavax (NVAX) from the Barchart Van Meerten Speculative portfolio for negative technical indicators and momentum:

Minco Gold Corp (MGH)

Barchart technical indicators:

60% Barchart short term technical sell signals
Trend Spotter sell signal
Below its 20 and 50 day moving averages
14.94% off its recent high
Relative Strength Index 33.26%

Novavax (NVAX)

Barchart technical indicators:

60% Barchart short term technical sell signals
Trend Spotter sell signals
Below its 20, 50 and 100 day moving averages
32.66% off its recent high
Relative Strength Index 27.73%

GNMK and MGH - Sell Signals

Today I deleted Genmark Diagnostics (GNMK) and Minco Gold Corp (MGH) from the Barchart Van Meerten New High portfolio for negative technical indicators and momentum:

Genmark Diagnostics (GNMK)

Barchart technical indicators:

100% Barchart short term technical sell signals
Trend Spotter sell signal
Below its 20, 50 and 100 day moving averages
23.77% off its recent high
Relative Strength Index 28.68%

Minco Gold Corp (MGH)

Barchart technical indicators:

60% Barchart short term technical sell signals
Trend Spotter sell signal
Below its 20 and 50 day moving averages
14.94% off its recent high
Relative Strength Index 33.26%

Friday, March 21, 2014

Viewpoint Financial Group - Barchart's Chart of the Day

Viewpoint Financial Group (VPFG) is the Barchart Chart of the Day. The Plano Texas based bank has a Trend Spotter buy signal, a Weighted Alpha of 48.04+ and gained 39.49% in the last year.

The Chart of the Day is Viewpoint Financial Group (VPFG). I found the stock by sorting the All Time High list for new high frequency in the last month. I skipped the stocks that didn't have positive gains in the last week and month then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 3/4 the stock gained 11.24%.

VPFG is the holding company for Plano-based ViewPoint Bank. ViewPoint Bank is the largest bank based in Collin County. It operates twenty eight branches and nine loan production offices.

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:

100% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
13 new highs and up 16.97% in the last month
Relative Strength Index 79.96%
Barchart computes a technical support level at 27.74
Recently traded at 28.40 with a 50 day moving average of 25.46

Fundamental factors:

Market Cap $1.13 billion
P/E 32.87
Dividend yield 1.74%
Revenue predicted to grow 41.40% this year and another 29.00% next year
Earnings estimated to increase 29.80% this year, an additional 44.00% next year and continue to increase at an annual rate of 12.00% for the next 5 years
Wall Street analysts issued 1 strong buy, 2 buy and 4 hold recommendations on the stock
Financial strength is B++

Growing bank in a growing region. Watch the 50 day moving average for signals of weakness and the 100 day moving average to preserve gains.

Thursday, March 20, 2014

On Assignment - Barchart's Chart of the Day

On Assignment (ASGN), a temporary placement agency for scientific employees is the Barchart Chart of the Day. The stock has a Trend spotter buy signal, a Weighted Alpha of 54.50+ and gained 46.09% in the last year

The Chart of the Day is On Assignment (ASGN). I sorted the All Time High list, which was extremely short today, for new high frequency in the last month. I skipped the stock that didn't have positive gains for the last week and month, then used the Flipchart feature to review the charts. Since the Trend spotter signaled a buy on 2/20 the stock gained 16.24%.

ASGN, through its first operating division, Lab Support, is a leading nationwide provider of temporary scientific professionals to laboratories in the biotechnology, pharmaceutical, food and beverage, chemical, and environmental industries. The company's strategy is to serve the needs of targeted industries for quality assignments of temporary professionals.

80% Barchart technical buy signal
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
11 new highs and up 14.90% in the last month
Relative strength Index 69.95%
Barchart computes a technical support level at 36.10
Recently traded at 37.90 with a 50 day moving average of 32.94

Fundamental factors:

Market Cap $2.04 billion
P/E 26.83
Revenue expected to grow by 15.80% this year and another 9.70% next year
Earnings estimated to increase 20.70% this year and additional 17.80% next year and continue to increase at an annual rate of 13.99% for the next 5 years
Wall Street analysts issued 5 strong buy, 5 buy and a hold recommendation on the stock

As more companies move toward temporary or part time employees to contain labor costs this looks to be a growing field. Use the 50 day moving averages for weakness signals and the 100 day moving averages for profit preservation points.

Texas Capital Bancshares - Barchart's Chart of the Day

Texas Capital Bancshares (TCBI) is the Barchart Chart of the Day. The commercial bank has a Trend Spotter buy signal, a Weighted alpha of 60.81+ and gained 58.15% in the last year.

The Chart of the Day is Texas Capital Bancshares (TCBI). I found the stock by sorting the All Time High list for new high frequency in the last month, then skipped the stocks that did not have positive gains for the last week and month. I used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 2/26 the stock gained 5.40%

TCBI's primary subsidiary is Texas Capital Bank, a commercial bank that delivers highly personalized financial services to Texas-based businesses and private client individuals. Headquartered in Dallas, the bank has full-service locations in Austin, Dallas, Fort Worth, Houston, Plano, and San Antonio.

88% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
13 new highs and up 10.07% in the last month
Relative Strength Index 66.29%
Barchart computes a technical support level at 63.18
Recently traded at 64.81 with a 50 day moving average of 61.35

Fundamental factors:

Market Cap $2.66 billion
P/E 23.43
Revenue predicted to grow 15.60% this year and another 15.10% next year
Earnings estimated to increase by 17.60% this year, an additional 19.10% next year and continue to increase at an annual rate of 9.71% for the next 5 years
Wall Street analysts issued 5 strong buys, 3 buys and 9 hold recommendations on the stock
Financial strength is B+

A local bank in a fast growing area looks good to me. Use the 50 day moving average for a weakness indicator and the 100 day moving average of signs of weakness.

Tuesday, March 18, 2014

Measurement Specialties - Barchart's Chart of the day

Measurement Specialties (MEAS) is the Barchart Chart of the Day. The designer and manufacturer of sensors has a Trend Spotter buy signal, a Weighted Alpha of 70.60+ and gained 68.90% in the last year.

The Chart of the Day is Measurement Specialties (MEAS). I found the stock by sorting the All Time High list for new high frequency in the last month then skipped over the stocks that didn't have positive gains for the last week and month. Lastly I used the Flipchart feature to find the chart I liked. Since the Trend Spotter signaled a buy on 2/6 the stock gained 10.09%.

MEAS is a designer and manufacturer of sensors and sensor-based, consumer products. They produce a wide variety of sensors that use advanced technologies to measure precise ranges of physical characteristics, including pressure, motion, force, displacement, angle, flow, and distance. They have two businesses, a Sensor business and a Consumer Products business.

100% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
15 new highs and up 12.34% in the last month
Relative Strength Index 68.90%
Barchart computes a technical support level at 63.01
Recently traded at 65.84 with a 50 day moving average of 58.97

Fundamental factors:

Market Cap $1.04 billion
P/E 26.99
Revenue predicted to grow 18.80% this year and another 7.00% next year
Earnings estimated to increase 11.90% this year, an additional 20.90% next year and continue to increase at an annual rate of 15.00% for the next 5 years
Wall Street analysts issued 2 buy and a hold recommendation on the stock
Financial strength is B+

Good revenue and growth projections. Use the 50 day moving average as a weakness signals and the 100 day moving average to exit and preserve profit.

Today's 5 Top Small Caps

Today I used Barchart to find the stocks in the S&P 600 Small Cap Index with the best technical indicators and charts. First I sorted the Index for stock having the most frequent new highs in the last month, then eliminated those that weren't a Trend Spotter buy or didn't have positive gains in the last week and month. Then I used the Flipchart feature to review the charts.

Today's list includes Biglari Holdings (BH), Heartland Payment Systems (HPY), Sonic Corp (SONC), Measurement Specialties (MEAS) and Jack in the Box (JACK):

Biglari Holdings (BH)

Barchart technical indicators:

56% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
16 new highs and up 18.20% in the last month
Relative Strength Index 78.89%
Barchart computes a technical support level at 493.47
Recently traded at 505.07 with a 50 day moving average of 458.53

Heartland Payment Systems (HPY)

Barchart technical indicators:

32% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
15 new highs and up 11.97% in the last month
Relative Strength Index 61.95%
Barchart computes a technical support level at 43.15
Recently traded at 44.11 with a 50 day moving average of 43.47

Sonic Corp (SONC)

Barchart technical indicators:

88% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
15 new highs and up 17.60% in the last month
Relative Strength Index 21.63%
Barchart computes a technical support level at 21.63
Recently traded at 22.32 with a 50 day moving average of 19.49

Measurement Specialties (MEAS)

Barchart technical indicators:

96% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
15 new highs and up 11.13% in the last month
Relative Strength Index 77.84%
Barchart computes a technical support level at 63.01
Recently traded at 65.43 with a 50 day moving average of 58.96

Jack in the Box (JACK)

Barchart technical indicators:

100% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
13 new highs and up 19.20% in the last month
Relative Strength Index 83.51%
Barchart computes a technical support level at 60.56
Recently traded at 62.82 with a 50 day moving average of 53.79

BARCHART MORNING CALL 3/18

BARCHART MORNING CALL

Tuesday, March 18th, 2014View Older Reports

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

You will also receive a free subscription to the Barchart family of newsletters.

OVERNIGHT MARKETS AND NEWS

June E-mini S&Ps (ESM14 -0.04%) this morning are down -0.09% and European stocks are down -0.17% after German investor confidence slid for a third month to its lowest in 7-months. Also, Russian President Putin ordered approval of an accord on Crimea's accession to Russia, which signals Russia won't back down from annexation of Ukraine's territory even after the U.S. and EU imposed sanctions on Russian officials and threatened further measures. Asian stocks closed mostly higher: Japan +0.94%, Hong Kong +0.51%, China -0.23%, Taiwan +0.37%, Australia +0.51%, Singapore +0.05%, South Korea +0.69%, India +0.10%. India's Sensex Stock Index climbed to a record high after Goldman Sachs raised its recommendation on India to 'Overweight' from 'Market weight.' Commodity prices are mixed. Apr crude oil (CLJ14 +0.18%) is up +0.06%. Apr gasoline (RBJ14 +0.28%) is up +0.30%. Apr gold (GCJ14 -0.90%) is down -0.74%. May copper (HGK14 unch) is unch. Agriculture and livestock prices are mixed with Apr hogs up +0.78% at an all-time high. The dollar index (DXY00 +0.02%) is up +0.04. EUR/USD (^EURUSD) is down -0.13%. USD/JPY (^USDJPY) is down -0.32%. June T-note prices (ZNM14 +0.13%) are up +6 ticks.
The German Mar ZEW survey expectations of economic growth fell -9.1 to 46.6, a bigger decline than expectations of -3.7 to 52.0 and the lowest in 7-months. The Mar ZEW survey current situation rose +1.3 to 51.3, less than expectations of +2.0 to 52.0, but still the highest in 2-1/2 years.
Eurozone Feb new car registrations rose +8.0% y/y to 861 million.
The German Feb wholesale price index fell -0.1% m/m and -1.8% y/y.
Japan Feb machine tool orders were revised up to +26.2% y/y from the previously reported +26.0% y/y.

U.S. STOCK PREVIEW

The market is expecting the FOMC at its 2-day meeting that begins today to cut QE3 by another $10 billion to $55 per month. Today’s Feb CPI is expected to fall to +1.2% y/y from +1.6% in January. Meanwhile, the Feb core CPI is expected to be unchanged from January at +1.6% y/y. Today’s Feb housing starts report is expected to show a modest upward rebound of +3.5% to 911,000 following the -16.0% plunge to 880,000 seen in January. There are 7 of the Russell 1000 companies report earnings today: FactSet (consensus $1.22), Hertz (0.32), Oracle (0.70), SolarCity (-0.58), Adobe (0.25), Tech Data (1.93), and DSW (0.29).
Equity conferences during the remainder of this week include: Consumer Analyst Group of Europe (CAGE) Conference on Mon-Wed, Bank of America Merrill Lynch Global Industrials & EU Auto Conference on Tue-Thu, Goldman Sachs TMT Leveraged Finance Conference on Wed, International Strategy & Investment Retail Summit on Wed, ISI Retail Summit on Wed-Thu, Gabelli & Company Specialty Chemicals Conference on Thu, Bloomberg Mexico Economic Summit on Thu, and Capital Link Invest in International Shipping Forum on Thu.

OVERNIGHT U.S. STOCK MOVERS

Cisco (CSCO +0.75%) was downgraded to 'Equal Weight' from 'Overweight' at Barclays.
DSW (DSW +1.16%) reported Q4 adjusted EPS of 31 cents, better than consensus of 29 cents.
Starting Wednesday, March 26, Walmart (WMT +0.54%) said that customers will be able to trade in their video games and apply the value immediately towards the purchase of anything sold at Walmart and Sam’s Club.
Universal Health (UHS -0.32%) was upgraded to 'Buy' from 'Hold' at KeyBanc.
Hewlett-Packard (HPQ +1.41%) was upgraded to 'Overweight' from 'Equal Weight' at Barclays.
Hertz (HTZ +4.77%) reported Q4 EPS of 26 cents, weaker than consensus of 32 cents, and then lowered guidance on fiscal 2014 adjusted EPS to $1.70-$2.00, below consensus of$2.07. The board of Hertz then announced plans to separate into two independent, publicly traded companies.
Prosensa Holding N.V. (RNA -0.59%) reported encouraging 48-week data from its U.S.-based, Phase 2 placebo-controlled study, DMD114876 or DEMAND V, of its lead compound, drisapersen, for the treatment of Duchenne Muscular Dystrophy.
The Verge reports that Microsoft (MSFT +0.93%) will introduce Microsoft Office for Apple's (AAPL +0.39%) iPad at a press event later this month.
Moody's Investors Service downgraded Argentina's government bond rating to Caa1 from B3, and changed the outlook to stable from negative.
Con-way Freight (CNW +0.79%) announced that it will institute a general rate increase of 5.4% applicable to non-contractual business, effective March 31.
Castle Creek reported a 9.45% passive stake in Guaranty Federal Bancshares (GFED +0.63%) .
Gabelli reported a 5.59% stake in Xyratex (XRTX +0.08%) .

MARKET COMMENTS

June E-mini S&Ps (ESM14 -0.04%) this morning are down -1.75 points (-0.09%). The S&P 500 on Monday closed higher. Supportive factors included (1) speculation that there will be no escalation to the Ukraine crisis despite Crimea’s referendum on Sunday to leave the Ukraine and join Russia, and (2) the +0.6% rise in U.S. Feb industrial production, triple expectations of +0.2% m/m, which bolstered optimism in the U.S. economic outlook. Closes: S&P 500 +0.96%, Dow Jones +1.13%, Nasdaq +0.95%.
Jun 10-year T-notes (ZNM14 +0.13%) this morning are up +6 ticks. Jun 10-year T-note futures prices on Monday closed lower on the stronger-than-expected U.S. Feb industrial production report of +0.6% and on reduced safe-haven demand for Treasuries as stocks rallied on speculation that Crimea’s vote to leave the Ukraine and join Russia won’t lead to further escalation of the Ukraine crisis. Closes: TYM4 -12.00, FVM4 -7.50.
The dollar index (DXY00 +0.02%) this morning is up +0.030 (+0.04%). EUR/USD (^EURUSD) is down -0.0018 (-0.13%). USD/JPY (^USDJPY) is down -0.33 (-0.32%). The dollar index on Monday closed lower after a rally in stocks reduced the safe-haven demand for the dollar. EUR/USD strengthened on speculation that the Crimea situation may not escalate further after Crimea’s vote to leave Ukraine and join Russia. Dollar losses were limited after the Chinese yuan tumbled to an 11-month low against the dollar as the PBOC widened the yuan’s daily trading band to trade as much as 2% on either side of the reference rate, compared with the previous limit of 1%. Closes: Dollar index -0.061 (-0.08%), EUR/USD +0.00182 (+0.13%), USD/JPY +0.423 (+0.42%).
Apr WTI crude oil (CLJ14 +0.18%) this morning is up +6 cents (+0.06%) and Apr gasoline (RBJ14 +0.28%) is up +0.0086 (+0.30%). Apr crude and gasoline prices on Monday closed lower with Apr gasoline at a 5-week low. Negative factors for crude included (1) speculation that Crimea’s vote to leave Ukraine and join Russia is unlikely to disrupt global crude supplies, and (2) expectations for weekly EIA crude inventories on Wednesday to increase +1.983 million bbl, the ninth consecutive increase. Closes: CLJ4 -0.81 (-0.82%), RBJ4 -0.0786 (-2.66%).

GLOBAL EVENT CALENDAR03/18/2014

US	0830 ET	Feb CPI expected +0.1% m/m and +1.2% y/y, Jan +0.1% m/m and +1.6% y/y. Feb CPI ex food & energy expected +0.1% m/m and +1.6% y/y, Jan +0.1% m/m and +1.6% y/y.
	0830 ET	Feb housing starts expected +3.5% to 911,000, Jan -16.0% to 880,000. Feb building permits expected +1.6% to 960,000, Jan -4.6% to 945,000.
	0930 ET	FOMC begins 2-day meeting.
EUR	0300 ET	Eurozone Feb new car registrations, Jan +5.5% y/y.
	0600 ET	Eurozone Jan trade balance expected +13.9 billion euros (sa), Feb +13.7 billion euros (sa).
GER	0300 ET	German Feb wholesale price index, Jan -0.1% m/m and -1.7% y/y.
	0600 ET	German Mar ZEW survey expectations of economic growth expected -3.7 to 52.0, Feb 55.7. Mar ZEW survey current situation expected +2.0 to 52.0, Feb 50.0.
JPN	0200 ET	Revised Japan Feb machine tool orders, previous +26.0% y/y.
	1950 ET	Japan Feb trade balance expected -600.0 billion yen, Jan -2.791 trillion yen. Feb exports expected +12.5% y/y, Jan +9.5% y/y. Feb imports expected +7.2% y/y, Jan +25.1% y/y.

U.S. STOCK CALENDAR03/18/2014

Company Name	Ticker	Time	Event Description	Period	Estimate
FactSet Research Systems Inc	FDS US	Bef-mkt	Q2 2014 Earnings Release	Q2 2014	1.218
Hertz Global Holdings Inc	HTZ US	Bef-mkt	Q4 2013 Earnings Release	Q4 2013	0.32
DSW Inc	DSW US	8:30	Q4 2014 Earnings Call	Q4 2014
Hertz Global Holdings Inc	HTZ US	10:00	Q4 2013 Earnings Call	Q4 2013
FactSet Research Systems Inc	FDS US	11:00	Q2 2014 Earnings Call	Q2 2014
MDU Resources Group Inc	MDU US	11:45	Analyst Meeting	Y 2014
Walt Disney Co/The	DIS US	13:00	Annual General Meeting	Y 2014
McGraw Hill Financial Inc	MHFI US	13:00	Investor Day	Y 2014
Toro Co/The	TTC US	14:30	Annual General Meeting	Y 2014
Adobe Systems Inc	ADBE US	17:00	Q1 2014 Earnings Call	Q1 2014
Oracle Corp	ORCL US	17:00	Q3 2014 Earnings Call	Q3 2014
SolarCity Corp	SCTY US	17:00	Q4 2013 Earnings Call	Q4 2013
Oracle Corp	ORCL US	Aft-mkt	Q3 2014 Earnings Release	Q3 2014	0.7
SolarCity Corp	SCTY US	Aft-mkt	Q4 2013 Earnings Release	Q4 2013	-0.577
Adobe Systems Inc	ADBE US		Q1 2014 Earnings Release	Q1 2014	0.252
Tech Data Corp	TECD US	23:59	Q4 2014 Earnings Release	Q4 2014	1.933
DSW Inc	DSW US		Q4 2014 Earnings Release	Q4 2014	0.294

Monday, March 17, 2014

IGI Laboratories - Barchart's Chart of the Day

IGI Laboratories (IG) is the Barchart Chart of the Day. The medical drug delivery technology stock has a Trend Spotter buy signal, a Weighted Alpha of 216.00+, and gained 28/8.32% in the last year.

The Chart of the Day is IGI Laboratories (IG). I found the stock by sorting the All Time High list for frequency in the last month, skipped the stocks that didn't have a positive gain for the last week and month. Last I used the Flipchart feature to review the charts. I skipped a lot of charts till I found one I liked. Since the Trend Spotter signaled a buy on 2/20 the stock gained 47.78%.

IG is the premier global provider of a novel topical patented delivery technology. In addition to having the innovative Novasome delivery technology, their capabilities include: product development, analytical services, commercial manufacturing and the packaging of their topical liquid and semi-solid products. Their expert services will ensure that their product achieves its maximum potential. IGI currently holds 56 U.S. patents, and has more than 100+ products commercialized. In the marketplace, their products continue to demonstrate their value by offering superior results and product differentiation to their customers.

100% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
13 new highs and up 53.76% in the last month
Relative Strength Index 81.29%
Barchart computes a technical support level at 4.89
Recently traded at 5.32 with a 50 day moving average of 3.77

Fundamental factors:

Market Cap $232.80 million
Revenue predicted to grow 53.40% this year and another 63.60% next year
Earnings estimated to increase 200.00% this year, and an additional 400.00% next year
The lone Wall Street analysts issuing a recommendation says a buy

Small cap and thinly followed but might be a great long term opportunity. Use the 100 Day moving average to preserve profits.

Today's 5 Best Mid Caps

Today I used Barchart to find the S&P 400 Mid Cap Index stocks that had the best technical indicators and charts. I sorted the Index for new high frequency in the last month, skipped the stocks that didn't have positive gains for both the last week and month, then used the Flipchart feature to review the charts.

Today's list includes The Cheesecake Factory (CAKE), Skyworks Solutions (SWKS), Primerica (PRI), Renaissancere Holdings (RNR) and Intersil Corp (ISIL):

The Cheesecake Factory (CAKE)

Barchart technical indicators:

80% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
13 new highs and up 6.61% in the last month
Relative Strength Index 62.01%
Barchart computes a technical support level at 47.10
Recently traded at 48.87 with a 50 day moving average of 46.42

Skyworks Solutions (SWKS)

Barchart technical indicators:

88% Barchart technical buy signals
Trend spotter buy signal
Above its 20, 50 and 100 day moving averages
13 new highs and up 15.00% in the last month
Relative Strength Index 68.06%
Barchart computes a technical support level at 36.33
Recently traded at 36.83 with a 50 day moving average of 32.06

Primerica (PRI)

Barchart technical indicators:

100% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
13 new highs and up 9.35% in the last month
Relative Strength Index 76.57%
Barchart computes a technical support level at 46.23
Recently traded at 48.35 with a 50 day moving average of 43.86

Renaissancere Holdings (RNR)

Barchart technical indicators:

88% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
13 new highs and up 4.93% in the last month
Relative Strength Index 71.90%
Barchart computes a technical support level at 96.43
Recently traded at 97.56 with a 50 day moving average of 92.98

Intersil Corp (ISIL)

Barchart technical indicators:

80% Barchart technical buy signals
Trend Spotter buy signal
Above its 20, 50 and 100 day moving averages
13 new highs and up 11.15% in the last month
Relative Strength Index 64.18%
Barchart computes a technical support level at 12.00
Recently traded at 12.96 with a 50 day moving average of 11.76

BARCHART MORNNG CALL 3/17

BARCHART MORNING CALL

Monday, March 17th, 2014View Older Reports

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

You will also receive a free subscription to the Barchart family of newsletters.

OVERNIGHT MARKETS AND NEWS

June E-mini S&Ps (ESM14 +0.53%) this morning are up +0.52% as they rebound from a 3-week low, and European stocks are up +0.78% on increased M&A activity after Vodaphone Group Plc, the world's second-biggest carrier, agreed to buy Spanish cable operator Grupo Corporativo Ono SA for 7.2 billion euros ($10 billion), and after Allianz SE, Europe's biggest insurer, agreed to spend 440 million euros buying assets from Unipol Gruppo Finanziario SpA. European stock rose despite Sunday's referendum vote In Crimea where 97% of voters opted to secede from Ukraine. The EU said "the referendum is illegal and illegitimate and its outcome will not be recognized." Russia has deployed about 60,000 troops along the Ukrainian border according to the Ukrainian government, which also said it closed border crossings to Russia and will mobilize as many as 15,000 volunteers in the next 2-weeks to defend the nation. Russia's Micex Stock Index rose 2.3% on reduced concern that the Crimean vote to leave Ukraine will not lead to an immediate increase in tensions between Russia and the West. Asian stocks closed mixed: Japan -0.35%, Hong Kong -0.30%, China +0.95%, Taiwan +0.14%, Australia -0.22%, Singapore +0.60%, South Korea +0.45%, India closed for holiday. Commodity prices are mixed. Apr crude oil (CLJ14 -0.20%) is down -0.23%. Apr gasoline (RBJ14 -0.55%) is down -0.46%. Apr gold (GCJ14 -0.08%) is up +0.10% at a 6-1/4 month high after the referendum in Crimea to leave Ukraine and join Russia boosted safe-haven demand for precious metals. May copper (HGK14 +0.83%) is up +0.58%. Agriculture prices are weaker. The dollar index (DXY00 +0.09%) is up +0.06%. EUR/USD (^EURUSD) is down -0.11% after Eurozone Feb CI was revised lower, which may keep the pressure on the ECB to provide additional stimulus to fight deflation risks. USD/JPY (^USDJPY) is up +0.41%. June T-note prices (ZNM14 -0.23%) are down -8 ticks.
Eurozone Feb CPI rose +0.3% m/m, less than expectations of +0.4% m/m, while on an annual basis Feb CPI was revised unexpectedly lower to +0.7% y/y from the originally reported +0.8% y/y and matched the Oct 2013 gain as the smallest year-over-year increase in 4-1/4 years. Feb core CPI was left unrevised at +1.0% y/y.
China's yuan fell to 6.1818 per dollar, the weakest in 11-months, after the PBOC widened the yuan's daily trading band to trade as much as 2% on either side of the reference rate, compared with the previous limit of 1%.

U.S. STOCK PREVIEW

The main item on this week’s agenda will be whether Russia starts to annex Crimea and makes any further military moves in Ukraine and the sanctions response from the U.S. and Europe. Today’s Feb industrial production report is expected to show an increase of +0.2%, reversing most of the -0.3% decline seen in January. Today’s March Empire manufacturing index is expected to show a +2.5 point increase to 7.0, rebounding somewhat after the sharp -8.0 point drop to 4.5 seen in February. Today’s March NAHB housing market index is expected to show an upward rebound of +4 points to 50 after the -10 point plunge to 46 seen in February.
None of the Russell 1000 companies report earnings today. Equity conferences this week include: Consumer Analyst Group of Europe (CAGE) Conference on Mon-Wed, Bank of America Merrill Lynch Global Industrials & EU Auto Conference on Tue-Thu, Goldman Sachs TMT Leveraged Finance Conference on Wed, International Strategy & Investment Retail Summit on Wed, ISI Retail Summit on Wed-Thu, Gabelli & Company Specialty Chemicals Conference on Thu, Bloomberg Mexico Economic Summit on Thu, and Capital Link Invest in International Shipping Forum on Thu.

OVERNIGHT U.S. STOCK MOVERS

RBC Capital kept its 'Outperform' rating on Adobe (ADBE +0.16%) and increased its price target on the stock to $75 from $63.
Facebook (FB -1.61%) was downgraded to 'Hold' from 'Buy' at Argus.
JA Solar (JASO +8.25%) reported Q4 EPS of 16 cents, well above consensus of 1 cent.
GNC Holdings (GNC -0.41%) was downgraded to 'Neutral' from 'Outperform' at Credit Suisse.
SAP (SAP +0.61%) was upgraded to 'Buy' from 'Neutral' at Citigroup.
Siemens (SI +2.00%) was upgraded to 'Buy' from 'Neutral' at BofA/Merrill.
TC PipeLines (TCP +0.82%) and Martin Midstream Partners (MMLP +0.47%) were both upgraded to 'Buy' from 'Neutral' at UBS.
Amgen's (AMGN -1.15%) talimogene laherparepvec drug reduced the size of tumors in a Phase 3 study.
Keurig Green Mountain (GMCR +6.68%) rose over 1% in European trading after it was announced that it will replace WPX Energy (WPX -0.11%) in S&P 500 as of the 3/21 close.
Long Focus Capital reported a 8.933% passive stake in Lucas Energy (LEI -8.00%) .
Solus Alternative Asset reported a 8.91% passive stake in YRC Worldwide (YRCW +1.70%) .
UPS Freight (UPS -0.85%) announced a general rate increase of 4.4%, effective March 31.
Kylin reported a 5.9% passive stake in E-House (EJ +0.63%) .

MARKET COMMENTS

June E-mini S&Ps (ESM14 +0.53%) this morning are up +9.50 points (+0.52%). The S&P 500 on Friday fell to a 1-1/2-week low and closed lower. Bearish factors included (1) concern the referendum vote Sunday in Crimea may lead to escalation of the Ukraine crisis, and (2) the U.S. Mar University of Michigan consumer confidence that unexpectedly fell -1.7 to 79.9, weaker than expectations of +0.4 to 82.0 and the lowest in 4-months. Stocks recovered their losses briefly late morning after Russian Foreign Minister Lavrov said Russia had no plans to invade eastern Ukraine and would respect the will of the Crimean people. Closes: S&P 500 -0.28%, Dow Jones -0.27%, Nasdaq -0.65%.
Jun 10-year T-notes (ZNM14 -0.23%) this morning are down -8 ticks. Jun 10-year T-note futures prices on Friday fell back from a 1-week high and closed little changed. T-notes moved higher on increased safe-haven demand from the Ukraine crisis and also after U.S. Mar University of Michigan consumer confidence unexpectedly fell to a 4-month low. T-notes relinquished most of their gains when Russia's foreign minister said his country has no plans to intervene in eastern Ukraine. Closes: TYM4 +1.00, FVM4 unch.
The dollar index (DXY00 +0.09%) this morning is up +0.048 (+0.06%). EUR/USD (^EURUSD) is down -0.0015 (-0.11%). USD/JPY (^USDJPY) is up +0.42 (+0.41%). The dollar index on Friday closed lower after U.S. Mar University of Michigan consumer confidence unexpected declined to a 4-month low. Another negative for the dollar was the drop in USD/JPY fell to a 2-week low as the yen strengthened on increased safe-haven demand over concern tensions in Ukraine may increase after Sunday's referendum that may lead Russia to annex Crimea. Closes: Dollar index -0.174 (-0.22%), EUR/USD +0.00363 (+0.26%), USD/JPY -0.494 (-0.49%).
Apr WTI crude oil (CLJ14 -0.20%) this morning is down -23 cents (-0.23%) and Apr gasoline (RBJ14 -0.55%) is down -0.0137 (-0.46%). Apr crude and gasoline prices on Friday closed higher. Bullish factors included (1) a weaker dollar, (2) the action by the IEA to raise their 2014 global crude consumption estimate to a record 92.7 million bbl a day, up +95,000 bbl from a forecast last month, and (3) concern that an escalation of Ukraine crisis could lead to a disruption of global energy supplies. Closes: CLJ4 +0.69 (+0.70%), RBJ4 +0.0268 (+0.91%).

GLOBAL EVENT CALENDAR03/17/2014

US	0830 ET	Mar Empire manufacturing index expected +2.52 to 7.00, Feb -8.03 to 4.48.
	0915 ET	Feb industrial production expected +0.2%, Jan -0.3%. Feb capacity utilization expected +0.1 to 78.6%, Jan -0.4 to 78.5%.
	1000 ET	Mar NAHB housing market index expected +4 to 50, Feb -10 to 46.
	1100 ET	USDA weekly grain export inspections.
EUR	0600 ET	Revised Eurozone Feb CPI, previous +0.8% y/y. Revised Feb core CPI, previous +1.0% y/y.
CHI	2130 ET	China Feb property prices.

U.S. STOCK CALENDAR03/17/2014

Company Name	Ticker	Time	Event Description	Period
Ford Motor Co	F US	9:00	Ford University Call	Y 2014
Cooper Cos Inc/The	COO US		Annual General Meeting	Y 2014
LSI Corp	LSI US		ITC Due to Release Findings in Realtek vs. LSI Patent-Infringement Case
Viacom Inc	VIAB US		Annual General Meeting