Friday, August 31, 2007

KB

Kookmin Bank is in a bullish power trend in early trading so keep it on the radar.

NVDA

Nvdia, Corp. has broken out and made a new 52 week high so keep it on the radar.

ILMN

Illumnia, Inc. has a decent tone in early trading so keep it on the radar.

ITT

ITT Corp. is in a bullish power trend in early trading so keep it on the radar.

CHL

China Mobile Ltd. has a good tone in early trading so keep it on the radar.

ACH

Aluminum Corp. of China continues to act well so keep it on the radar.

Top Performers

LEND / NFI / OMG / TNH / OTEX

SKIL / OVTI / FTEK / TGIC

NOV

National Oil Well, Inc. is acting very well today so keep it on the radar.

POT

Potash, Inc. has a good tone to it today so keep it on the radar.

BIDU

Baidu.com is acting very well today so keep it on the radar.

S&P futures vs fair value: +18.7. Nasdaq futures vs fair value: +25.5

A bullish bias persists in pre-market action as both S&P 500 and Nasdaq 100 futures hold their own well above fair value. Investors are embracing everything from Bush’s subprime mortgage proposal, which is restoring confidence throughout the beaten-down Financial sector, to tame inflation data, which boosts rate cut expectations.

With regard to Financials, the return of its leadership will be a crucial leg of support for a market that struggled to find direction yesterday as the absence of its upside influence acted as an overhang.

Stocks Trading Up In Pre-Market

DELL, AMZN, FTEK, AAPL, RIMM, BIDU, GOOG, PLCE, TRMD, LEND, SNDK, SSTR, SCON, OVTI, DRYS, CROX, SIGM, OTEX, FSLR, TGB, BOBJ, and GRMN

Budd Foxx

Upgrades and Downgrades

Upgraded this morning include:

QLGC, CACH, KNOL, and PSSI

Downgraded this morning include:

BNHNA, SHLD, and CBK

Budd Foxx

Morning News

Futures are pointing to a strong open this morning.

European markets are trading higher so far today.

In Tokyo the Nikkei 225 did have a nice pop upward.

Crude oil working its way back above $73.50 per barrel.

Wholesale gasoline is back up to $2.08 per gallon.

Natural gas is currently $5.72 per unit.

Gold is sitting at $676.00 per ounce.

Personal income figures for the month of July will be released before the open this morning.

Consumer spending for the month of July will be out at 8:30 this morning.

Chicago PMI for the month of August will be released just after the open this morning.

Consumer sentiment poll for the month of August set for release.

July factory orders will be out at 10:00 this morning.

Ben Bernanke will be speaking from Jackson Hole, Wyoming today.

Dell Inc. reports a 46% rise in profit beating all expectations.

Toyota Motor Corp. setting a goal of 10.4 million vehicle sales for 2009.

Apple Inc. will reportedly offer ring tone service through its iTunes.

Budd Foxx

Thursday, August 30, 2007

7 Stocks you need to know for Friday

Dell (DELL | charts | news | PowerRating) beat earnings expectations on Thursday afternoon, announcing $0.32 EPS over an expected $0.30 EPS.

Esterline Technologies (ESL | charts | news | PowerRating) beat earnings expectations on Thursday, with $0.61 EPS over a consensus of $0.54 EPS.

FuelCell Energy (FCEL | charts | news | PowerRating) rose over 10% on Thursday after the company announced that Q3 losses fell to $15.4 million from $18.7 million the year before.

Novell (NOVL | charts | news | PowerRating) rose nearly 9% after beating analysts earnings estimates.

Sigma Designs (SIGM | charts | news | PowerRating) rose 10% on Thursday after announcing that Q2 revenue doubled to $42.5 million from the same period last year.

SkillSoft (SKIL | charts | news | PowerRating) reports earnings on Friday morning, with analysts looking for $0.03 EPS.

United Natural Foods (UNFI | charts | news | PowerRating) should announce $0.34 EPS before the bell on Friday morning.

PCU CHART


Breaking $105 per share should take PCU higher so keep it on the radar.

FWLT

Foster Wheeler, Ltd. is acting well today so keep it on the radar.

Solar Stocks to Watch

FSLR, JASO, TSL, LDK

RIMM

Research in Motion has broken out and made a new 52 week high so keep it on the radar.

VMW

VMWare, Inc. has been a hot new issue so keep it on the radar.

ELON

Echelon Corp. has a good tone to it today so keep it on the radar.

DRYS

Dry Ships continues to act well as the stock has broken out and made a new 52 week high so keep it on the radar.

WFR

Memc Electronic Materials, Inc. is acting well this morning off of the SIGM earnings so keep it on the radar.

AAPL

Apple Computer, Inc. continues to act well so keep it on the radar.

FSLR

First Solar, Inc. has gone green so keep it on the radar.

MBT

Mobile Telesystems has a good tone in early trading so keep it on the radar.

SIGM

Sigma Designs, Inc. posted good earnings and the stock should be in play today so keep it on the radar.

VIP

Vimpel Communications has a good tone in early trading so keep it on the radar.

S&P futures vs fair value: -7.6. Nasdaq futures vs fair value: -3.0.

As expected, Q2 GDP was revised higher. The preliminary read checked in at 4.0% (consensus 4.1%), up from an advance read of 3.1%.

The chain deflator, a key inflation measure, remained unchanged at 2.7%, matching economists' forecasts. Initial claims rose 9K to 334K (consensus 320K), the highest since mid April but still reflective of healthy labor conditions.

The response in stocks has been modestly positive, but underlying credit issues still leave the futures market languishing below fair value and suggests investors will take some of yesterday's broad-based gains off the table.

Pre-Market Gappers

Gapping up:

SIGM +18.5%, AGIX +12.0%, SSTR +11.4%, VIP +7.1%, FCEL +5.9%, CHINA +4.0%, TIF +3.9%, CIEN +3.8%, SNUS +3.8%, TIF +3.0%, TASR +3.0%, NOVL +2.4%, MOT +2.2%...

Gapping down
:

CWTR -13.7%, ACH -6.9%, HRB -4.7%, SHLD -3.5%, PSS -3.4%, DB -3.3%, BCS -3.3%, SCON -2.7%.

Watch for Breakout

ACH Over $70

AAPL Over $135.50

CHL Over $67.50

HANS Over $45

ISLN Over $10.75

GRMN Over $105

MRO Over $54

Upgrades and Downgrades

Upgrades:

STM, IFX, VSE, CP, LH, AVR, MOT

ATO, IDA, TASR, SIGM, CHINA

Downgrades:

CWTR, PSS, ANDS, GGAL

World Markets and Futures

  • Futures are pointing to a lower open this morning
  • Asian markets are trading higher
  • European markets are trading higher
  • GDP-Prel Market expects 4.1%
  • Chain Deflator-Prel market expects 2.7%
  • Initial Claims at 8:30 am market expects 320K
  • Help-Wanted Index at 10 am market expects 25
  • Market is worried that the Fed will not cut rates in Sept.
  • Crude Oil is currently $73.68 per barrel
  • Gold is currently $674 per ounce

Wednesday, August 29, 2007

Market Review 8/29

7 Stocks you need to know for Thursday

Chico's FAS (CHS | charts | news | PowerRating) missed earnings on Wednesday afternoon, announcing $0.22 EPS versus an estimated $0.26 EPS.

Ciena (CIEN | charts | news | PowerRating) announces earnings on Thursday morning, with analysts looking for $0.30 EPS.

Del Monte (DLM | charts | news | PowerRating) reports earnings Thursday morning before the bell, so be watching for $0.01 EPS.

When Freddie Mac (FRE | charts | news | PowerRating) reports quarterly earnings on Thursday morning, anaylsts will be watching for $0.81 EPS.

Genesco (GCO | charts | news | PowerRating) reports tomorrow morning; watch for $0.30 EPS.

Sears Holding (SHLD | charts | news | PowerRating) and Tiffany (TIF | charts | news | PowerRating) both report on Thursday morning; SHLD expects $1.13 EPS, and TIF expects $0.35 EPS.

Some stocks acting well

AMZN, FSLR, JASO, TSL, ISRG

CMED, PCU, FCX, FLR, ICE, GME


CHL

China Mobile Ltd. is acting very well today as the stock is pushing a new 52 week high.

DRYS

Dry Ships, Inc. acting very well today so keep it on the radar.

Oil Inventories

Energy Dept. just released weekly inventory levels.

Crude oil saw a decline of 3.5 million barrels.

Gasoline supply down 3.6 million barrels.

Distillates saw a build of 900,000 barrels.

Budd Foxx

RIMM

Research in Motion Ltd. has a nice tone to it today so keep it on the radar.

GRMN

Garmin Ltd. is acting very well today so keep it on the radar. This stock breaks out over $105 per share.

POT

Potash Corp just made a new intra day high so keep it on the radar.

ASEI

American Science and Engineering is in a bullish power trend so keep it on the radar. This stock will make a new 52 week high over $71.22 per share.

BIDU

Baidu.com, Inc. has a good tone in early trading so keep it on the radar.

Top Performers

WSM / BIG / STX / SCON / AMTC

VMW

Wmware, Inc. this new issue breaks out over $74 per share so keep it on the radar.

AAPL

Apple Computer, Inc. is acting well in early trading so keep it on the radar.

S&P futures vs fair value: +7.8. Nasdaq futures vs fair value: +10.0.

Both the S&P 500 and Nasdaq 100 futures are off their recent highs, but still trade well above fair value to indicate a strong open for equities. While a sense that stocks were oversold yesterday accounts for most of the positive disposition, the absence of potentially troubling economic data is also helping clear the way for buyers to selectively pick up bargains in the wake of Tuesday's tumble. Since the Financial sector was hit the hardest yesterday (-3.2%), and is back down nearly 11% on the year, there are several brokers and banks catching an early bid. A restoration of confidence in Financials will be key to the sustainability of today's recovery efforts since a lack of the sector’s leadership

Pre-Market Gappers

Gapping up:

BIG +13.7%, SMTC +9.2%, LEND +7.0%, LMC +6.1%, STX +5.9%, ACH +5.0%, ZNH +4.9%, NOK +4.2%, VMW +3.4%, HOKU +3.4%, CFC +1.8%...

Gapping down:

PDLI -17.6%, NCTY -14.4%, LNUX -6.4%, ARUN -5.6%, JOYG -5.4%.

Upgrades and Downgrades

Upgraded this morning include:

AZO, IVAC, SE, SGMS, TAP, and SPRT

Downgraded this morning include:

PLMD, PDLI, BSC, WYNN, SONC, PLMD, and LNUX

Budd Foxx

Morning News

Futures are pointing to a higher open after yesterday's tumble.

European markets are trading higher today.

In Tokyo the Nikkei 225 did lose ground.

Crude oil is sitting right at $72.00 per barrel.

Wholesale gasoline is $2.03 per gallon.

Natural gas currently $5.65 per unit.

Gold hanging at $674.00 per ounce.

Energy Dept. will release weekly inventory levels at 10:30 this morning.

Reports are out that Altria Group may announce it will be spinning off its Philip Morris division.

George Reyes chif financial officer of Google Inc. to step down.

Nokia Corp. launching internet music and game service.

Boeing has won rocket contract with NASA.

General Mills to shut down two plants and cut nearly 600 jobs.

Budd Foxx

Tuesday, August 28, 2007

S&P 500 WEEKLY CHART



We have some support at 1425 range on the S&P 500. Breaking 1425 and we could retest the March lows around the 1375 area. Obviously if we break the March lows around the 1365-1375 area we could be headed much lower.

Market Review 8/28

7 Stocks you need to know for Wednesday

Micros Systems (MCRS | charts | news | PowerRating) beat earnings on Wednesday after the close, announcing $0.75 EPS over an expected $0.70 EPS.

Big Lots (BIG | charts | news | PowerRating) reports earnings on Wednesday before the bell; watch for $0.12 EPS.

Brown Shoe (BWS | charts | news | PowerRating) is looking to announce $0.25 EPS before the market opens on Wednesday.

Dollar Tree (DLTR | charts | news | PowerRating) should report $0.33 EPS on Wednesday morning.

When Energy Conversion (ENER | charts | news | PowerRating) announces quarterly earnings on Wednesday before the bell, be watching for -$0.11 EPS.

Joy Global (JOYG | charts | news | PowerRating) and Williams-Sonoma (WSM | charts | news | PowerRating) both report earnings on Wednesday morning; watch for $0.69 EPS from JOYG and $0.16 EPS from WSM.

TSL

Trina Solar Ltd. is bucking the trend so keep it on your watch list.

HOKU

Hoku Scientific, Inc. is acting very well this afternoon and could be overnight momentum so keep it on the radar.

NEM

Newmont Mining Corp. just made a new intra day high so keep it on the radar.

OMRI

Omrix Biopharm, Inc. is in a bullish power trend in early trading so keep it on the radar.

NFLX

Netflix, Inc. is perking up a little bit here so keep it on your radar.

SNDK

Sandisk, Inc. has a decent tone to it today so keep it on the radar.

Top Performers

XOMA / PLMD / ADLR / WEN / HUM

IDXX

Idexx Lab, Inc. looks good over $110 per share so keep it on the radar.

BNI

Warren Buffett's Berkshire Hathaway has bought another 10.1 mln shares of Burlington Northern (BNI)

S&P futures vs fair value: -7.0. Nasdaq futures vs fair value: -12.0.

Still shaping up to be another dismal start for stocks as investors lack any overwhelming evidence to get buying efforts back on track. Among a handful of positive developments, Warren Buffett's Berkshire Hathaway has bought another 10.1 mln shares of Burlington Northern (BNI) and MedcoHealth Solutions (MHS) has agreed to buy PolyMedica (PLMD) for $1.5 bln. However, today's only notable M&A deal is hardly of the blockbuster variety and Buffett's interests in railroads has been public knowledge for several months, leaving the door open for investors to put renewed subprime concerns front and center as a reason to keep questioning valuations following last week's sizable market gains.

Pre-Market Gappers

Gapping up:

XOMA +27.2%, PLMD +14.2%, CSUN +8.5%, IDEV +5.6%, IDSY +5.1%, ACH +3.2%, AEO +3.0%, TSM +2.4%, BNI +2.1%, GFI +1.7%, OSIP +1.5%...

Gapping down:

SCON -9.9%, FMT -8.9%, LFC -7.0%, STT -4.9%, CHL -4.2%, FXI -4.0%, BSC -2.8%, BCS -2.8%, LEH -2.6%, CFC -2.0%.

Stocks Trading Up In Pre-Market

BNI, JAVA, SNDK, CPSL, OSIP, IDSY, IDEV

CSUN, SNUS, PLMD, XOMA

GRMN CHART


GRMN breaks out over $105 per share so keep it on the trading radar this week.

Watch for Breakout

ACTU Over $7.10

CORT
Over $3

EAS Over $26.70

GRMN
Over $105

IDXX
Over $110

ITW
Over $58.60

SUF Over $6

Upgrades and Downgrades

Upgrades:

GPS, OSIP, WBSN

Downgrades:

DTE, MXIM

Morning News

Futures are pointing to another lower open this morning.

European markets are trading lower today.

In Tokyo the Nikkei 225 did end lower.

Crude oil back above $72.00 per barrel.

Wholesale gasoline is $2.03 per gallon.

Natural gas is $5.43 per unit.

Gold is sitting at $677.00 per ounce.

Consumer confidence for the month of August will be released at 10:00 this morning.

FOMC minutes will be out at 2:00 this afternoon.

Credit card defaults on the rise in the first half of the year.

Inventory of homes for sale reaching a 15 year high.

Medco Health Solutions to buy PolyMedica Corp.

Merril Lynch downgrades Bear Stearns, Lehmon Brothers, and Citigroup this morning.

Warren Buffet raising his stake in Burlinton Northern Santa Fe.

Budd Foxx

Monday, August 27, 2007

IDXX CHART


IDXX looks good over $110 per share so keep it on the radar for Tuesday.

7 Stocks you need to know for Tuesday

China Medical Technologies (CMED | charts | news | PowerRating) reports earnings on Tuesday morning before the bell; watch for $0.29 EPS.

Corinthian Colleges (COCO | charts | news | PowerRating) is expected to announce $0.04 EPS before the bell on Tuesday.

Analysts will be watching for Sanderson Farms (SAFM | charts | news | PowerRating) to report $1.93 EPS before the market opens on Tuesday morning.

Tuesday Morning (TUES | charts | news | PowerRating) will report earnings before the bell tomorrow; look for $0.05 EPS.

Borders Group (BGP | charts | news | PowerRating), Dycom (DY | charts | news | PowerRating) and Micros Systems (MCRS | charts | news | PowerRating) all report on Tuesday afternoon after the market closes, so watch for heightened price action and volatility ahead of the bell.

FWLT

Foster Wheeler, Ltd. has perked up a bit here so keep it on the radar.

DRYS

Dryships, Inc. has broken out and made a new 52 week high so keep it on the radar.

BIDU

Baidu.com, Inc. is bucking the trend today so keep it on the radar. What doesn't go down when the market goes down often goes up when the market goes up.

Top Performers

ACH / LFC / IBN / SCON / GERN / ONXX

CHL

China Mobile has a decent tone in early trading so keep it on the radar.

SCON

Superconductor Tech, Inc. is in a bullish power trend in early trading so keep it on the radar.

AMZN

Amazon.com, Inc. has a good tone in early trading so keep it on the radar.

CROX

Crocs, Inc. is trading up this morning on news the company will start a clothing line so keep it on the radar.

Pre-Market Gappers

Gapping up:

GTW +53.7%, ACH +25.1%, GERN +7.4%, ONXX +6.2%, RMBS +4.8%, STX +3.4%, CROX +2.4%, HD +1.5%...

Gapping down:

NRMX -28.1%, ANTP -10.7%, ALGN -1.7%, CFC -1.6%.

Watch for Breakout

AT Over $68

ANO Over $3.10

BAY Over $79

CRNT Over $18.15

EXPE
Over $30

IVGN
Over $79.50

NOK Over $31

Upgrades and Downgrades

Upgraded this morning include:

CNA, LUM, RDC, ERF, THC, DISCA, and TSRA

Downgraded this morning include:

HTV, KVHI, and DLIA

Budd Foxx

Morning News

Futures are pointing to a slightly lower open this morning.

European markets are trading higher.

In Tokyo the Nikkei 225 did gain ground.

Crude oil back above $71.00 per barrel.

Wholesale gasoline has moved up to $1.96 per gallon.

Natural gas down to $5.20 per unit.

Gold is sitting at $676.00 per ounce.

Existing home sales for the month of July will be out at 10:00 this morning.

U.S. Steel to buy Stelco Inc. for $1.04 billion.

Gateway Inc. to be bought by Acer for $710 million.

Home Depot will sell its wholesale supply unit for a discounted price of $8.5 billion.

Sony Corp. developing a battery that will run on sugar. The casing for the battery will be made of a vegetable plastic.

Dunkin Donuts latest chain to announce they will cut trans fat from there menu.

Budd Foxx

Saturday, August 25, 2007

VIDEO - Stock Picks

Jesse Livermore said there’s a time to trade and a time to lay low…now may be a good time to lay low. Nevertheless, here are a few patterns than may be tradable the next couple weeks.

Video – Stock Picks


http://www.leavittbrothers.com/.

Friday, August 24, 2007

Stock Market Review 8/24

7 Stocks you need to know for Monday

On Friday, Gap (GPS | charts | news | PowerRating) rose 5% after announcing that Q2 profit rose 19% from the year before.

American Woodmark (AMWD | charts | news | PowerRating) gained 7% on Friday, after the company increased its dividend and initiated a $100 million stock buyback.

Recent IPO Blackstone (BX | charts | news | PowerRating) announced that a proposed tax bill legislation currently in the Senate would triple the private-equity firm's yearly taxes.

Computer Sciences (CSC | charts | news | PowerRating) reports quarterly earnings on Monday after the close, with analysts looking for $0.71 EPS.

Shanda Interactive (SNDA | charts | news | PowerRating) should report $0.36 EPS after the bell on Monday.

CDC Corporation (CHINA | charts | news | PowerRating) and China Medical Technologies (CMED | charts | news | PowerRating) both report earnings on Tuesday before the bell, so watch for heightened price action and volatility ahead of the close on Monday.

PCU

Southern Copper, Corp. is acting very well so keep it on the radar.

WYNN

Wynn Resorts, Inc. is acting very well today so keep it on the radar.

LVS

Las Vegas Sands just made a new high of the day so keep it on the radar.

CROX

Crocs, Inc. just made a new intraday high so keep it on the radar.

AAPL

Apple Computer, Inc. is acting very well today so keep it on the trading radar.

AMZN

Amazon.com has a decent tone in early trading so keep it on the radar.

BIIB

Biogen Idec, Inc. is in a bullish power trend in early trading as the stock just made a new 52 week high.

MENT

Mentor Graphics Corp. is in a bullish power trend in early trading so keep it on the radar.

VMW

VMWARE, Inc. has a good tone in early trading so keep it on the radar.

New Issue EJ


This new issue EJ would look good above $19.50-20 so keep it on the trading radar.

S&P futures vs fair value: +0.3. Nasdaq futures vs fair value: -4.0.

The strong durables orders data for July has helped diminish some of the earlier selling interest in the futures market. Nevertheless, the cash market is still expected to start the day on a somewhat lackluster note.

ACH

Aluminum Corp of China, Ltd is trading up in pre-market this morning so keep it on the radar. This stock breaks out over $52.65 per share.

Pre-Market Gappers

Gapping up:

MENT +11.5%, ARNA +7.0%, AYR +5.6%, ASIA +5.4%, WFMI +2.7%, OATS +2.3%...

Gapping down:

CSUN -19.5%, SNIC -13.6%, MRVL -9.0%, CHTR -3.7%, PSUN -3.3%, CFC -2.2%, BCS -1.8%, VMW -1.7%, RIMM -1.6%.

Upgrades and Downgrades

Upgraded this morning include:

APOL, EYE, PLT, BRCD, and GME

Downgraded this morning include:

SNIC, GCO, FL, and LTXX

Budd Foxx

Watch for Breakout

ASGN Over $11.65

ONNN Over $12

STX Over $25

TLT Over $88

Morning News

Futures are pointing to a lower open at this point this morning.

European markets are trading lower today.

In Tokyo the Nikkei 225 did end lower.

Crude oil is $69.61 per barrel.

Wholesale gasoline sitting at $1.91 per gallon.

Natural gas down to $5.58 per unit.

Gold up just a bit to $669.00 per ounce.

Durable goods orders for the month of July will be out before the open this morning.

July new home sales figures will be out at 10:00 this morning.

Home Depot reportedly may except $1.2 billion less than original price agreed on for its wholesale distribution business.

Gap Inc. reports a jump in quarterly profit, raise outlook for rest of 2007, and announcing a $1.5 billion share buyback.

Mexican oil rigs only suffer minor damage from hurricane Dean and output is almost back to normal.

Senator John Warner calling for President Bush to start pulling troops out of Iraq by Christmas.

This will make you think about time. The Big Mac turns 40 years old.

Budd Foxx

Thursday, August 23, 2007

VMW

VMWARE, Inc. a new issue continues to act well so keep it on the radar.

PCLN

Priceline.com has broken out and made a new 52 week high so keep it on the trading radar.

Top Performers

CFC / NFI / GME / BID / LLNW / NTES

ICE

Intercontinental Exchange is in a bullish power trend in early trading so keep it on the radar.

NTES

Netease.com, Inc. continues to act well so keep it on the radar.

JOYG

Joy Global, Inc. is acting very well in early trading so keep it on the radar.

RTP

Rio Tinto is trading up in pre-market so keep it on the radar today.

Pre-Market Gappers

Gapping up:

CFC +15.6%, LLNW +12.0%, GNVC +9.6%, TMA +8.3%, IMB +7.7%, NFI +7.4%, LEND +6.6%, RAS +4.8%, SFD +4.7%, HSOA +7.6%, FMT +4.4%, KFN +4.6%, FRO +4.2%...

Gapping down:

SMRT -13.9%, PLCE -11.4%, IMMR -9.5%, HOTT -3.4%, TTM -1.8%.

Watch for Breakout

CHZ Over $35.80

BRLC Over $7

RTIX Over $12

STN
Over $88.40

TZOO Over $18

PCLN
Over $79.75

VRTX Over $38

Upgrades and Downgrades

Upgrades:

HNAB, CN, JOYG, MGI, MEE, OSIP,

CFC, TOL, HTE

Downgrades:

BR, EV, WXS, TWB

World Markets and Futures

  • Futures are pointing to a higher open
  • Asian Markets ended the day trading higher
  • European Markets are trading higher
  • Countrywide scores $2B investment
  • Crude Oil is just below $70 per barrel
  • Gold is trading up and currently $673.10 per ounce
  • Yen Falls Most in 3 Years Against the Euro
  • Initial Claims at 8:30 am Market expects 320K
  • Leading Indicators at 10 am

DRYS CHART


DRYS breaks out over $65.40 so keep it on the radar for the rest of the week.

Wednesday, August 22, 2007

Bank of America Buys Into Countrywide

Bank of America knows when it's time to buy.

The Charlotte, N.C.-based bank is making a $2 billion equity investment in the beleaguered Countrywide Financial (nyse: CFC - news - people ), the companies said Wednesday evening.

Bank of America (nyse: BAC - news - people ) will purchase $2 billion worth of preferred Countrywide stock yielding 7.3%, and that can be converted into common stock at $18 per share, giving the mortgage lender a much-needed cash infusion amid a crippling credit crunch.

Stocks to Watch for Thursday

Among the companies whose shares are expected to see active trading in Thursday's session are Barnes & Noble Inc., Gap Inc., and Intuit Inc.

Stock to Watch

7 Stocks you need to know for Thursday

Abercrombie & Fitch (ANF | charts | news | PowerRating) beat earnings expectations on Wednesday afternoon, announcing $0.88 EPS over an expected $0.87 EPS.

Children's Place (PLCE | charts | news | PowerRating) reports earnings on Thursday before the bell; watch for -$0.95 EPS.

Hormel Foods (HRL | charts | news | PowerRating) should announce $0.41 EPS before the market opens on Thursday morning.

When New York & Company (NWY | charts | news | PowerRating) reports earnings Thursday morning, analysts will be looking for $0.05 EPS.

Analysts are watching for Stein Mart (SMRT | charts | news | PowerRating) to report $0.05 EPS before the bell on Thursday.

Aeropostale (ARO | charts | news | PowerRating) and bebe stores (BEBE | charts | news | PowerRating) both report on Thursday after the close, so watch for heightened price action and volatility ahead of the bell.

SINA

Sina Corp. is acting very well this afternoon so keep it on the radar.

TNH

Terra Nitrogen Company is acting very well today and could be momentum overnight if the stock is pushing the high of the day near the close.

RVBD

Riverbed Tech, Inc. is acting very well today so keep it on the radar.

RVBD CHART

NTES

Netease.com is in a bullish power trend so keep it on the radar.

Stocks in Bullish Power Trends

AAPL / AMZN / BIDU / GOOG / TNH

IVN / ICE / MA / NMX / VMW

Top Performers

BYI / ACH / FMT / VMW / EME / BCSI

S&P futures vs fair value: +9.3. Nasdaq futures vs fair value: +11.0.

A bullish pre-market bias persists as the futures market retraces its best levels of the morning. After closing in record territory just over a month ago, the Dow and S&P 500 still trading 6.5% and 6.8%, respectively, off those highs continue to suggest stocks remain oversold on a short-term basis. The Nasdaq is down 7.3% from its 6 1/2-year high reached on July 19. With so many investors seeking safe havens of late, as evidenced by the yield on the 10-year note plunging nearly 30 basis points in less than two weeks to 4.59% yesterday, some unwinding in that flight-to-quality trade further underscores the market's improved underlying tone and prospects of owning stocks at current levels.

VMW

VMWARE, Inc. this new issue remains hot so keep it on the radar.

NMX

NYMEX Holdings, Inc. is trading up on takeover speculation so keep it on the radar.

Pre-Market Gappers

Gapping up:

ACH +16.7%, PGLA +16.3%, BCSI +15.4%, BYI +12.4%, MGM +12.2%, TECD +9.3%, AMTD +8.6%, BTJ +8.5%, DRYS +8.3%, CTIC +8.0%, NMX +7.3%, NBIX +8.2%, SPWR +5.7%, SCHW +5.1%, NTES +5.0%, RTP +4.7%, TOL +4.7%, BYD +4.6%, LVS +3.0%...

Gapping down:

ABIX -41.5%, EFUT -10.2%, MDT -1.6%.

Watch for Breakout

ARRO Over $44.50

LYO Over $45.60

NVDA Over $48

PDCO Continuation

Upgrades and Downgrades

Upgraded this morning include:

NTES, MPR, E, LOW, CPB, GGC, CTL, and BYI

Downgraded this morning include:

DRL, PSO, EL, ETFC, and ACAS

Budd Foxx

Morning News

Futures are pointing to a higher open this morning.

European markets are trading higher today.

In Tokyo the Nikkei 225 ended pretty flat.

Crude oil is down below $70.00 per barrel.

Wholesale gasoline is down to $1.87 per gallon.

Natural gas sitting at $5.81 per unit.

Gold is currently $667.00 per ounce.

The Energy Dept. will release weekly oil inventory levels at 10:30 this morning.

Reports are out that TD Ameritrade and E-Trade are in serious merger talks.

Dubai World reportedly planning a $5 billion investment in MGM Mirage.

Toll Brothers reports a 85% drop in third quarter profit.

Toyota Motor Corp. goal for the year of 2009 is to sell 10.4 million vehicles.

First Magnus Financial files for chapter 11 bankruptcy protection.

Hurrcane Dean still a category 1 storm after slamming the Yucatan as a category 5 storm with winds of 165 mph.

Budd Foxx

Tuesday, August 21, 2007

7 Stocks you need to know for Wednesday

Analog Devices (ADI | charts | news | PowerRating) beat earnings expectations on Tuesday afternoon, announcing $0.37 EPS over an expected $0.36 EPS.

Medtronic (MDT | charts | news | PowerRating) matched earnings after the bell on Tuesday with $0.62 EPS.

Eaton Vance (EV | charts | news | PowerRating) reports earnings on Wednesday before the market opens; look for $0.42 EPS.

Frontline (FRO | charts | news | PowerRating) should announce $1.08 EPS before the bell on Wednesday.

When Regis (RGS | charts | news | PowerRating) reports quarterly earnings on Wednesday morning, watch for $0.57 EPS.

Toll Brothers (TOL | charts | news | PowerRating) should report $0.05 EPS on Wednesday morning before the market opens.

WCI Communities (WCI | charts | news | PowerRating) is expected to announce -$1.13 EPS Wednesday morning.

BEN

Franklin Resources, Inc. closing above the 50 dma would be bullish for this security.

BEN CHART

AMZN

Amazon.com is acting very well this afternoon so keep it on the radar.

AAPL

Apple Computer, Inc. is acting very well today so keep it on the radar.

Top Performers

LSI / VMW / DKS / TTWO / LEND

ISRG

Intuitive Surgical, Inc. is in a bullish power trend in early trading so keep it on the radar.

ISRG CHART

PCU

Southern Copper Corp. has a good tone in early trading so keep it on the radar.

POT

Potash Corp. closing above the 50 dma would be a bullish sign for this security so keep it on the radar.

POT CHART

CROX

Crocs, Inc. continues to act well so keep it on the radar.

GRMN

Garmin, Ltd. has a good tone in early trading so keep it on the radar.

BIDU

Baidu.com is in a bullish power trend in early trading so keep it on the radar.

S&P futures vs fair value: -1.2. Nasdaq futures vs fair value: -4.8.

Early sentiment continues to weaken as S&P 500 futures join the Nasdaq 100 futures below fair value. The flight to quality in Treasuries is again readily apparent as lingering credit concerns continue to foster a more risk-averse mindset. The yield on the 2-year note slipping below 4.00% amid hopes of a Fed rate cut now leaves the curve between 2 and 10-year notes with their widest spread since May 2005. Equity investors are also weighing reports that The Bank of England's lending facility to banks was tapped for the first time in about a month while U.S. foreclosure filings rose 9% from June to July and soared 93% year/year.

Pre-Market Gappers

Gapping up:

BAY +5.5%, CFC +4.6%, ATML +4.1%, MT +2.9%, BIDU +1.6%, COF +1.4%, EBAY +1.4%, CROX +1.2%...

Gapping down:

CSG -3.9%, TOL -2.5%, REP -2.0%, GFI -2.0%, DELL -1.2%.

CANDLESTICK POSITIVE INDICATORS AND GOOD CHARTS FOR: Tue

DATABASE:

ALDA, VSNT.

WATCHLIST :

BKCC, IRIS, KOP, UIC, LYO,

INTERESTING CHARTS:

BPHX, NM, WDC, BIDZ, PAET, FOSL,

STKL, QCCO, MYL, AGP, GGL.

Watch for Breakout

CAVM Continuation

CPHD
Over $19

CCE
Over $24.15

NUAN
Over $19.05

REGN
Over $19.40

Upgrades and Downgrades

Upgraded this morning include:

ASML, WWY, VPRT, NSM, PDLI, COF

MU, NCMI, VSCN, CP, MCD, MAN

Downgraded this morning include:

LNN, COT, SPF, HOV, and TOL

Budd Foxx

Morning News

Futures are down this morning pointing to a lower open.

European markets are trading lower so far today.

In Tokyo the Nikkei 225 did close higher.

Crude oil sitting just below $71.00 per barrel.

Wholesale gasoline is $1.92 per gallon.

Natural gas dipping to $5.95 per unit.

Gold sitting at $665.00 per ounce.

Meeting scheduled this morning for Ben Bernanke, Hank Paulson, and Chris Dodd.

Foreclosures for the month of July up 9% over the month of June.

Google Inc. forming a partnership with Chinese social networking site.

Capital One Financial cutting 1,900 jobs and to close its wholesale mortgage business.

Dell Computer delaying shipments of notebook computers.

Hurricane Dean has made landfall on the Yucatan Peninsula as a category 5 storm.

Budd Foxx

Monday, August 20, 2007

7 Stocks you need to know for Tuesday

American Eagle (NYSE:AEO - News) reports earnings on Tuesday morning; watch for $0.36 EPS. AEO's PowerRating (for Traders) is 4.

Analysts are watching for BJ's Wholesale (NYSE:BJ - News) to report $0.41 EPS on Tuesday before the bell. BJ's PowerRating (for Traders) is 4

Dick's Sporting Goods (NYSE:DKS - News) announce quarterly earnings on Tuesday morning, look for $0.77 EPS. DKS's PowerRating (for Traders) is 6.

Saks (NYSE:SKS - News) is looking to report -$0.15 EPS when the company announces earnings on Tuesday morning. SKS's PowerRating (for Traders) is 5.

Staples (NasdaqGS:SPLS - News) and Target (NYSE:TGT - News) both report earnings before the bell on Tuesday; SPLS should announce $0.25 EPS, and TGT is looking for $0.80 EPS. SPLS's PowerRating (for Traders) is 4, and TGT's PowerRating (for Traders) is 5.

Affiliated Computer Services (NYSE:ACS - News) reports earnings on Tuesday after the close, so watch for heightened price action and volatility ahead of the close. ACS's PowerRating (for Traders)

X

United States Steel Corp. is acting very well this afternoon but it does have some resistance at the 200 DMA

TSL

Trina Solar, Ltd. is acting well today so keep it on the radar.

SNDK

Sandisk, Inc. has a decent tone in early trading so keep it on the radar.

CROX

Crocs, Inc. has a good tone in early trading so keep it on the radar.

Top Performers

KFN / MFA / VVR /LOW /FACE

BIDU

Baidu.com has a good tone in early trading so keep it on the radar.

Gapping up on strong earnings/guidance:

LOW +6.3%, HAST +4.7%... Other news: TMA +9.6% (co discussed financing platform, plans return to business as normal), LUM +6.7% (LUM and Arco Capital enter into Letter of Intent intended to address liquidity issues), DNDN +7.4% (announces publication of Phase 1 study; article notes safety of Neuvenge), KFN +5.4% (to host conf call to discuss $230.4 mln common share offering and $270 mln common share rights offering), FSLR +4.5% (upgraded to Buy at Deutsche Bank), MPEL +4.4% (upgraded to Buy at Citigroup), CFC +3.4% (WSJ reports CFC has begun layoffs; CFC was also the subject of a positive Barron's article).

FSLR

First Solar was upgraded this morning at Deutshe Bank so keep it on the radar.

Pre-Market Gappers

Gapping up:

TMA +9.6%, DNDN +7.4%, LOW +6.3%, HAST +4.7%, FSLR +4.5%, MPEL +4.4%, LOCM +3.5%, CFC +3.4%...

Gapping down:

CS -1.8%, NVS -1.1%.

RIMM

Goldman Sachs raised the target on RIMM to $295 per share this morning. This stock will split 3 for 1 on Aug 21st.

Watch for Breakout

FNM Over $69.40

RSTI Over $73.20

PNY Over $27.25

TRCA Over $7.25

TNL Over $29.15

TSFG Over $24

WFT Over $60

Upgrades and Downgrades

Upgraded this morning include:

FLS, TSM, NNBR, CCO, JBHT, LAMR, MPEL, CNP, UCLP, DLTR, AGP, FSLR, and DRI

Downgraded this morning include:

GNA, MHP, and OATS

Budd Foxx

Morning News

Futures are pointing to a slightly higher open this morning.

European markets are trading higher so far today.

In Tokyo the Nikkei 225 did end higher.

Crude oil is $71.00 per barrel.

Wholesale gasoline is $1.96 per gallon.

Natural gas is sitting at $6.50 per unit.

Gold is currently $667.00 per ounce.

Leading indicators for the month of July will be released at 10:00 this morning.

Nasdaq Stock Exchange reportedly looking to sell 31% stake in London Stock Exchange.

Lowe's is set to report earnings here before the bell this morning.

Microsoft has cut the price of its Xbox gaming system in Europe.

First Solar Inc. has been upgraded to a buy from a hold at Deutshe Bank this morning.

Countrywide Financial has begun layoffs of workers.

Mine officials in Utah now saying there is a good chance the six miners trapped in the mountain may never be found.

Hurricane Dean slams Jamaica now heading for the Cayman Islands. The current track of the storm would spare most all the oil rigs in the Gulf of Mexico.

Budd Foxx

Sunday, August 19, 2007

VIDEO - Correction or Beginning of a Downtrend

The video backs the charts up to 2000 to try and figure out if the recent action is a correction within an uptrend or the beginning of a downtrend.

Video – Correction or Beginning of a Dowtrend?


http://www.leavittbrothers.com/.

Saturday, August 18, 2007

Market Review 8/17

7 Stocks you need to know for Monday

Kensey Nash (KNSY | charts | news | PowerRating) should report $0.09 EPS on Monday before the market opens.

Lowe's (LOW | charts | news | PowerRating) is expected to announce $0.61 EPS on Monday morning before the bell.

Analysts are watching for Solarfun Power Holdings (SOLF | charts | news | PowerRating) to report $0.04 EPS before the market opens on Monday.

Oplink Communications (OPLK | charts | news | PowerRating) and Perry Ellis (PERY | charts | news | PowerRating) both announce earnings after the close on Monday, so watch for heightened price action and volatility ahead of the close.

Countrywide Financial (CFC | charts | news | PowerRating) gained over 11% on Friday, after Banc of America gave the company a ratings upgrade, from Sell to Neutral.

Nordstrom (JWN | charts | news | PowerRating) announced better than expected profit on Thursday, but said results were slightly lower due to the company's credit-card business.

Friday, August 17, 2007

Stocks in Play

AAPL /BEN / DE / MA / CME / BIDU

RIMM
/GRMN / CROX / CSCO

SNDK / ILMN / RTP /LVS

Top Performers

TMA / CFC / PMI / SPF / RARE / OATS

RIMM

Research in Motion is acting very well in early trading so keep it on the radar.

Fed has cut the discount rate 50 basis points from 6.25% to 5.75%

The Fed has cut the discount rate 50 basis points from 6.25% to 5.75%. It also said it stands ready to "act as needed" to help the economy. This could go a long way to restoring confidence in the stock market. Stock futures are understandably sharply higher as a result. The discount rate is the rate at which the Federal Reserve lends reserves to banks. The fed funds rate is the rate at which banks lend reserves to each other. By lowering the discount rate, the Fed is making liquidity widely available to the banking system. This goes well beyond any repo operation. The lowering of the discount rate will not have an impact on other market interest rates that a cut in the fed funds rate target would have.

Stock Trading up in Pre-Market

AAPL, AMZN, BIDU, FSLR, CROX, DE, RIMM, GOOG,

POT, CROX, ICE, CME, GROW, MA and TSL
Gapping Up:

MEH +9.5%, TMA +6.6%, STM +5.7%, CFC +5.5%, BBI +4.2%, LEND +1.8%, NOK +1.1%, DELL +0.3%...

Gapping Down:

MT -4.4%, WPPGY -4.0%, CSG -3.5%, BAY -2.5%, ASML -2.5%, CCL -2.3%.

Goldman Sachs says Fed will cut rate to 4.5% in 2007

Bloomberg.com reports that the U.S. Federal Reserve will cut the overnight target interest rate to 4.5% from the current 5.25% this year, Goldman Sachs economists forecast in a research note today. The Fed will reduce the rate by at least 0.25 point on or before policy makers meet on Sept 18, according to the note.

Stocks to Watch

Among the companies whose shares are expected to see active trading in Friday's session are Dell Inc., Hewlett-Packard Co., and Whole Foods Market Inc.

Stocks to Watch

Upgrades and Downgrades

Upgrades:

RATE, STX, OMG, SONS, CMED, EXC, AGU

OWW, SHRP, ADSK, SAP, BBI, CAI, HD, ANF

NICE, KSS, CFC

Dowgrades:

RARE, WNS, HNP, SLG, BXP, DRI, CPS, CW

World Markets and Futures

  • Futures are pointing to a much lower open
  • Asian Markets are trading lower
  • European Markets are trading lower
  • HP quarterly profit and sales are strong
  • Bank of America issues MasterCard debit cards
  • Peru Quake Death Toll Exceeds 500
  • Goldman Sachs says Fed will cut interest rate to 4.5%
  • Michigan Sentiment at 10 am market expects 88.5
  • Crude Oil is $71.73 per barrel
  • Gold is up a bit and is $661.60 per ounce

Thursday, August 16, 2007

S&P 500 CHART


Today we went down and tested the March lows on the SPY. Full Sto is currently giving a buy signal on the SPY. On a rally we could be headed up to resistance at the 200 DMA/EMA which is the 1450-1455 range. March lows (1365-1380 range) on the SPY could be tested again in the near future.

Bank of America Issues MasterCard Debit

Bank of America Corp.'s deal to become the bank of the National Football League could also be a touchdown for MasterCard Inc. (MA)

Bank of America, the nation's second-largest bank by assets, is the largest issuer of debit cards in the United States, and for the first time will be issuing MasterCard debit cards. (MA)

Stocks Bucking the Trend

We could of hit a short term bottom here so here are some stocks bucking the trend:

BAC, FFIV, CWT, RKH

CAL

Continental Airlines, Inc. is bucking the trend so keep it on the radar.

NTAP

Network Appliance, Inc. is bucking the trend this morning in early trading so keep it on the radar.

ISRG

Intuitive Surgical, Inc. is trying to buck the trend here but this market is nasty in early trading.

Top Performers

KFN / FMT / NTAP / HURC

Pre-Market Gappers

Gapping up:

KFN +15.3%, NTAP +6.6%...

Gapping down:

CFC -15.5%, CSG -3.8%, BHP -3.7%, RTP -3.4%, CROX -3.0%, AAPL -2.7%, NOK -2.2%, BP -1.8%.

Dow Support Levels (DJIA)

A 10% Correction from 14,000 is

12,600

MA Support Levels:


200 EMA is 12,855

200 DMA is 12,830

Lower Bollinger Band Support:

12,850

Fib Retracement Support Levels:

Fib 50% Retracement is 12,980

Fib 62% Retracement is 12,735

Fib 100% Retracement is 11, 933

Stocks to Watch

Among the companies whose shares are expected to see active trading in Thursday's session are Amgen, Delta Galil, Lamson & Sessions, Longs Drug, MFA Mortgage, J.C. Penney, Petsmart, Photronics, Richardson Electronics, Take-Two and Watson Wyatt.

Stocks to Watch

Upgrades and Downgrades

Upgrades:

ANN, FSLR, SNP, PTR, PLT, CECO,

SOV, KFN, SBS, INTC, CMC, MFA

CBL, EMS, DRQ, GKSR

Downgrades:

ACUS, DDE, MMPI

World Markets and Futures

  • Futures are pointing to a much lower open
  • Asian Markets are trading much lower
  • Euoropean Markets are trading much lower
  • Housing Starts at 8:30 am Market expects 1405K
  • Initial Claims at 8:30 am Market expects 315K
  • Philadelphia Fed at 12 noon Market expects 8.0
  • Oil is trading down and is currently $71.28 per barrel
  • Gold is trading down and is currently $673.90 per ounce

Wednesday, August 15, 2007

7 Stocks you need to know for Thursday

Estee Lauder (EL | charts | news | PowerRating) reports earnings on Thursday morning; look for $0.50 EPS.

When Flowers Foods (FLO | charts | news | PowerRating) announces quarterly earnings on Thursday before the market opens, watch for $0.23 EPS.

FTD Group (FTD | charts | news | PowerRating) is expected to report $0.28 EPS on Thursday before the bell.

Analysts are watching for JC Penney (JCP | charts | news | PowerRating) to report $0.78 EPS when the company announces earnings on Thursday morning.

Watson Wyatt (WW | charts | news | PowerRating) should announce $0.67 EPS before the bell on Thursday.

Guess (GES | charts | news | PowerRating) and Hewlett Packard (HPQ | charts | news | PowerRating) both announce earnings on Thursday afternoon; GES should report $0.33 EPS, and HPQ is looking for $0.65 EPS.

Top Performers

LEND / WIND / DE / MBI / VRSN

BAY / ISRG / PEG / UNH / BOOM

ISRG

Intuitive Surgical, Inc. is acting very well today so keep it on the radar.

AMZN CHART


AMZN has filled the gap and bounced off the 50 DMA so keep it on the radar for the next week or so as it could start to move up if the market bounces.

VMW

VMWare, Inc. the IPO that opened yesterday continues to act well so keep it on the radar.

LEND Rumor

We are hearing LEND has a tender offer from E-trade for $13.22 per share.

S&P futures vs fair value: -6.5. Nasdaq futures vs fair value: -9.8.

Still shaping up to be a weak start for stocks as futures indications continue to hold a negative bias. Merrill Lynch advising clients to sell shares of Countrywide Financial (CFC) on liquidity concerns, knocking CFC shares down 7% in pre-market action, and reports that an Australian company is saying subprime woes may have wiped out 80% of one of its hedge funds are acting as the latest overhang. Such news is likely to weigh heavily on an already beaten-down Financial sector and, without its leadership, the S&P 500 runs the risk of slipping into negative territory for the year. It is currently up only 0.6%, which can easily be erased by another sell-off in Financials since it accounts for about 21% of the total weighting on the broader market.
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