Sunday, August 31, 2008

Stock Market Review

7 Stocks you need to know for Tuesday

PetSmart (PETM | Quote | Chart | News | PowerRating) gained more than 10% on Friday after reporting better than expected quarterly earnings.

Lower than expected sales projections at Marvell Technology Group Ltd. (MRVL | Quote | Chart | News | PowerRating) encouraged traders to sell the stock at week's end. MRVL was down more than 4% on Friday.

Machinists rejected a "best and final" offer by Boeing (BA | Quote | Chart | News | PowerRating), calling the company's proposal "very inadequate in all areas."

Losing 4% on Friday, shares of International Paper (IP | Quote | Chart | News | PowerRating) were downgraded by a Deutsche Bank AG analyst from "buy" to "hold."

Fannie Mae (FNM | Quote | Chart | News | PowerRating) closed lower for the first time in five days on Friday, losing nearly 14% on the day.

Citing a slowdown in technology spending in Europe, Dell (DELL | Quote | Chart | News | PowerRating) reported quarterly earnings that fell short of analyst estimates by five cents.

General Motors (GM | Quote | Chart | News | PowerRating) announced a recall of more than 940,000 vehicles in response to a potential short circuit in the washer fluid system that could cause fires. So far, three fires have been linked to this problem.

Friday, August 29, 2008

A Crashing Consumer and Failing Banks

This week we post two reports.

The Great Consumer Crash of 2009 by James Quinn (as posted on seekingalpha.com) talks about housing, debt, confidence, spending, etc.

Dead Men Walking by Bennet Sedacca (via John Mauldin) talks about what banks are most capable of surviving, the ones which are either "too big to fail" or have valuable assets should the companies be broken up, and which one are "dead men walking," or doomed to failure.

Bullish Chart Patterns

VIDEO - Symmetrical Triangles
VIDEO - Ascending Triangles
VIDEO - Flags
VIDEO - Wedges
VIDEO - Pennants
Video - Rectangles
Video - Cup n Handle
Video - Head n Shoulders
Video - Trendlines

Neutral Chart Patterns
Video - Symmetrical Triangles
Video - Rectangles

Bearish Chart Patterns

VIDEO - Symmetrical Triangles
VIDEO - Descending Triangles
VIDEO - Flags
VIDEO - Wedges
VIDEO - Pennants
VIDEO - Rectangles
Video - Head n Shoulders
Video - Trendlines

http://www.leavittbrothers.com/

Pre-Market Gappers

Gapping up:

SIGM +4.9%, PETM +4.4%, WM +3.4%, FRE +3.2%, ELN +2.2%, IBN +1.7%...

Gapping down:

FRPT -17.5%, LAVA -11.4%, DELL -9.6%, NOK -3.5%, MRVL -3.1%, CCL -2.8%, NOVL -2.5%, QCOM -1.8%, AFFY -1.4%, OVTI -1.3%.

Upgrades and Downgrades

Upgrades:

OTIV, NWY, TPX, TC, JAS, EGN

Downgrades:

SINT, PDX, FTO, BWS, CNC, CNK,

CEGE, KO, GILD, CHL, GA, WCRX

Morning News

Futures are pointing to a lower open

In Japan the Nikkei 225 closed up 2.40%

In Hong Kong the Hang Seng closed up 1.38%

European markets are slightly higher

Personal Income and Outlays (Jul , 2008)
NAPM-Chicago (Aug , 2008)
Consumer Sentiment (Aug , 2008)
Farm Prices (Aug , 2008)

Oil rises, Heads for biggest weekly gain in two months as storm approaches

Crude Oil is $117 per barrel

Gold is trading higher and is $841.50 per ounce

Thursday, August 28, 2008

Stock Market Review

7 Stocks you need to know for Friday

Among the biggest gainers of the Dow industrials, shares of American Express (AXP | Quote | Chart | News | PowerRating) were up more than 4% and increasingly overbought with a 2-period RSI of more than 90 as the stock continues to trade below the 200-day moving average.

The biggest advance in the S&P 500 was to be found in the shares of MBIA, Inc. (MBI | Quote | Chart | News | PowerRating), which were up by more than 34% as the stock closed above its 200-day moving average for the first time since mid-October 2007.

Shares of Las Vegas Sands (LVS | Quote | Chart | News | PowerRating) were up more than 7% on Thursday on news that the gambling resort is looking to build a $12 billion casino project similar to the one it built in Macau. LVS has a 2-period RSI of more than 90 and remains several points below its 200-day moving average.

A day after plunging more than 24%, shares of Amyln Pharmaceuticals (AMLN | Quote | Chart | News | PowerRating) were up by more than 6% on Thursday. A Merrill Lynch analyst upgraded the shares from "neutral" to "buy."

Dell (DELL | Quote | Chart | News | PowerRating) sold off initially in afterhours trading on Thursday on their announcement that earnings had fallen short of analyst EPS expectations by five cents.

Boeing (BA | Quote | Chart | News | PowerRating) on Thursday made what it considers its "final offer" to workers represented by the International Association of Machinists and Aerospace Workers. The workers are expected to vote on the offer on Wednesday.

Pre-Market Gappers

Gapping up:

SEED +13.1%, MBI +10.6%, ABK +10.1%, JAS +8.5%, AMLN +6.0%, ENER +5.9%, TIF +5.9%, GEF +5.2%, GA +4.7%, MW +4.0%, RDN +3.8%, ALU +3.8%, MTG +3.1%, FRE +2.5%, BT +2.5%, JCG +1.2%, BHP +1.1%, BCS +1.1%...

Gapping down:

FCEL -24.3%, CHU -5.4%, CWTR -5.2%, CHL -5.0%, TIVO -4.4%, NOK -1.3%.

Upgrades and Downgrades

Upgrades:

TC, JAS, EGN

Downgrades:

CEGE, KO, GILD, CHL, GA, WCRX

Morning News

Futures are pointing to a slightly lower open

In Japan the Nikkei 225 closed up 0.12%

In China the Hang Seng closed down 2.30%

Corporate Profits (Jul , 2008)

Gross Domestic Product (Q2p , 2008)

Jobless Claims (wk8/23 , 2008)

Help Wanted Index (Jul , 2008)

EIA Natural Gas Report (wk8/22 , 2008)

Money Supply (wk8/18 , 2008)

Crude Oil is trading up and is $119.50 per barrel

Gold is $842 per ounce

Wednesday, August 27, 2008

Stock Market Review

7 Stocks you need to know for Thursday

Up more than 9% at the open, shares of Ikon Office Solutions Inc. (IKN | Quote | Chart | News | PowerRating) rallied on news that the office equipment distributor was being acquired by Ricoh of Japan for $1.62 billion.

Losses that were not as bad as feared stoked buying in shares of Borders Group Inc. (BGP | Quote | Chart | News | PowerRating), which were higher by more than 21% on Wednesday.

Del Monte (DLM | Quote | Chart | News | PowerRating) reports earnings Thursday morning before the bell. Analysts are expecting a loss of $0.04 per share.

Shares of Amylin Pharmaceuticals (AMLN | Quote | Chart | News | PowerRating) fell by more than 24% after reports that four more patients died while taking company's diabetes treatment.

Better than expected earnings guidance for 2008 sent shares of Talbots (TLB | Quote | Chart | News | PowerRating) soaring by more than 28% on Wednesday.

Oil stocks were among the day's big gainers, with stocks such as Tesoro Corporation (TSO | Quote | Chart | News | PowerRating) up more than 11%.

Dell Inc. (DELL | Quote | Chart | News | PowerRating) reports second quarter earnings Thursday after the market closes. Analysts are expecting EPS of $0.36.

Fertilizer Stocks to Watch

AGU, BG, CF, MOS, MON,

POT, TNH

RIGL

Rigel Pharms was initiated with a buy at Citigroup so keep it on the radar.

HPQ

Hewlett-Packard was given an Overweight rating by Lehman Brothers this morning so keep it on the radar.

Pre-Market Gappers

Gapping up:

FRE +8.1%, APSG +7.6%, FNM +5.9%, SOLR +5.8%, SOLF +3.3%, BP +1.6%, AFL +1.5%, LEH +1.4%, MNRO +1.0%...

Gapping down
:

NEXM -63.2%, AMLN -13.3%, JCG -6.9%, MAT -3.7%, BMY -2.2%, LLY -1.2%, TSRA -1.1%.

Upgrades and Downgrades

Upgrades:

WBD, OKE

Downgrades:

AMLN, JCG, AMR, NGG, BKUNA

Morning News

Futures are pointing to a lower open

In Japan the Nikkei 225 closed down 0.20%

In Hong Kong the Hang Seng closed up 1.95%

European markets are trading down

MBA Purchase Applications (wk8/22 , 2008)

Durable Goods Orders (Jul , 2008)

EIA Petroleum Status Report @ 10.35am

Crude Oil is $117.60 per barrel

Gold is trading up and is $840 per ounce

Tuesday, August 26, 2008

Stock Market Review

7 Stocks you need to know for Wednesday

Dollar Tree (DLTR | Quote | Chart | News | PowerRating) reports earnings Wednesday morning before the opening bell. Analysts are expecting EPS of $0.41.

Verizon Communications (VZ | Quote | Chart | News | PowerRating) is nearing a deal that would allow Google (GOOG | Quote | Chart | News | PowerRating) to become the default search engine for all Verizon mobile devices.

Analysts are expecting Solarfun Power (SOLF | Quote | Chart | News | PowerRating) to report earnings per share of $1.48 when the company announces quarterly earnings Wednesday morning before the market opens.

Teva Pharmaceutical Industries Ltd. (TEVA | Quote | Chart | News | PowerRating) announced that its drug, Azilect, was the first to slow the progress of the Parkinson's disease.

The slowing economy has been hard on popular family restaurants, bringing shares of both Brinker International (EAT | Quote | Chart | News | PowerRating), which runs Chili's Bar and Grill, and Darden Restaurants (DRI | Quote | Chart | News | PowerRating), which runs Olive Garden and Red Lobster lower on Tuesday.

AAPL

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

V

Visa was upgraded and initiated with an Outperform at William Blair so keep it on the radar. This security has resistance at the 50 dma around $76.

Pre-Market Gappers


Gapping up:

TMA +100.0%, CLNE +8.4%, MDRX +3.4%, COH +2.8%, UAUA +2.5%, APC +2.4%...

Gapping down:

SIRF -4.5%, RTP -3.2%, BP -1.8%, RDS.A -1.7%, TOT -1.6%.


Upgrades and Downgrades

Upgrades:

CRM, COT

Downgrades:

HWAY, MRVL, GW, IDTI, BRCM

Morning News

Futures are pointing to a higher open

In Japan the Nikkei 225 closed down 0.80%

In Hong Kong the Hang Seng closed down 0.25%

European markets are trading lower

ICSC-UBS Store Sales (wk8/23 , 2008)

Redbook (wk8/23 , 2008)

New Home Sales (Jul , 2008)

Consumer Confidence (Aug , 2008)

FOMC Minutes (Aug , 2008)

Crude Oil is $113 per barrel

Gold is $814 per ounce

Monday, August 25, 2008

Stock Market Review

7 Stocks you need to know for Tuesday

The Dow lost 241.81. The Nasdaq Composite fell by 49.12. And the S&P 500 ended the day lower by 25.36.

Here are 7 Stocks You Need to Know for Tuesday.

Increasingly overbought, shares of Advanced Micro Devices (AMD | Quote | Chart | News | PowerRating) gained more than 2% on Monday as traders cheered the company's decision to sell one of its semiconductor units to Broadcom (BRCM | Quote | Chart | News | PowerRating). Shares of Broadcom were down more than 4%.

Analysts are expecting EPS of $-0.04 when Smithfield Foods (SFD | Quote | Chart | News | PowerRating) reports earnings Tuesday morning before the market opens.

Credit Suisse Group AG warned on Monday that American International Group (AIG | Quote | Chart | News | PowerRating) was likely to report housing-bust related writedowns costing more than $2.4 billion.

Shares of LDK Solar Company (LDK | Quote | Chart | News | PowerRating) were up more than 9% late in trading on Monday as the maker of solar wafers reported that its 2009 deliveries would likely be double previous estimates.

Freddie Mac (FRE | Quote | Chart | News | PowerRating) rallied on Monday after a successful weekly auction of more than $2 billion in short term notes. The stock was higher by more than 17%.

Big Lots (BIG | Quote | Chart | News | PowerRating) reports earnings Tuesday morning before the market opens. Analysts are expecting EPS of $0.27

BIDU

Baidu.com has a good tone in early trading so keep it on the radar. This security has some resistance around $330

POT

Potash, Inc. is bucking the trend in early trading so keep it on the radar.

LDK

LDK Solar Ltd. has a good tone in early trading so keep it on the radar.

Gapping Up

In reaction to strong earnings/guidance: LDK +6.8%, CHINA +3.0%... Select solar stocks are trading higher following upside LDK guidance & CSUN upgrade: SOLF +4.5%, CSUN +4.2% (upgraded to Buy at Jefferies), AKNS +2.4%, ESLR +1.9%... Other news: CREE +3.4% -- light volume (Cree, LG Display to set up LED joint venture in China - The Korea Times), CF +2.3% (to replace EDS in the S&P 500), AZ +2.1% (FT reports AZ is prepared to delay or abandon plans to break up Dresdner Bank before an important deadline this month, a move that would signal a deal was near for the insurer to sell the whole of Dresdner), FE +1.9% -- light volume (mentioned positively in Barron's).

CME

CME Group target raised at Lehman Brothers with a new price target of $409 per share so keep it on the radar.

AMGN

Amgen target raised by Morgan Joseph to a buy and new price target of $80 per share.

Pre-Market Gappers

Gapping up:

DSTI +8.1%, FRE +1.6%, DK +4.3%, GW +1.7%, JBLU +1.2%, WNR +1.2%, STP +1.2%, HOV +1.0%...

Gapping down:


FNM -6.0%, LEH -3.2%, DB -1.5%, NOK -1.2%.

Break Out List Market Technical Analysis

Economic Data for the Week

Upgrades and Downgrades

Upgrades:

CSUN, ANN

Downgrades:

WERN, KNX, CVC

Morning News

Futures are pointing to a slightly lower open

In Japan the Nikkei closed up 1.7%

In Hong Kong the Hang Seng closed up 3.5%

The FTSE in England is up 2.5%

The Dax and Cac are trading lower

Dollar rises on speculation decline in oil

Existing Home Sales (Jul , 2008)

Oil is $115.50 per barrel

Gold is $829 per barrel

Saturday, August 23, 2008

VIDEO - Symmetrical Triangles (bearish)

A new video (bearish Symmetrical Triangles) has been added to the Leavitt Brothers Chart Pattern video series.

Bullish Chart Patterns

VIDEO - Symmetrical Triangles
VIDEO - Ascending Triangles
VIDEO - Flags
VIDEO - Wedges
VIDEO - Pennants
Video - Rectangles
Video - Cup n Handle
Video - Head n Shoulders
Video - Trendlines

Neutral Chart Patterns
Video - Symmetrical Triangles
Video - Rectangles

Bearish Chart Patterns

VIDEO - Symmetrical Triangles
VIDEO - Descending Triangles
VIDEO - Flags
VIDEO - Wedges
VIDEO - Pennants
VIDEO - Rectangles
Video - Head n Shoulders
Video - Trendlines

http://www.leavittbrothers.com/

Stock Market Review

7 Stocks you need to know for Monday

General Motors (GM | Quote | Chart | News | PowerRating) and Ford Motor Company (F | Quote | Chart | News | PowerRating) were among those in the automotive industry asking for additional federal loans to subsidize the building of more fuel-efficient vehicles.

Trading beneath the 200-day moving average, shares of American Express (AXP | Quote | Chart | News | PowerRating) were up by more than 4% on Friday for their third consecutive day of gains.

King Pharmaceuticals (KG | Quote | Chart | News | PowerRating) announced that it may take its rejected $1.38 billion bid for Alpharma Inc. (ALO | Quote | Chart | News | PowerRating) directly to the shareholders if no agreement is reached.

Word of potential investment from Korea Development Bank encouraged buying - and short covering - in shares of Lehman Brothers Holdings Inc. (LEH | Quote | Chart | News | PowerRating) on Friday. The stock was up more than 3% on Friday.

Oracle Corporation (ORCL | Quote | Chart | News | PowerRating) has agreed to a compensation package that makes Larry Ellison the richest CEO in the United States.

Friday, August 22, 2008

CME

Chicago Merchantile Exchange is acting well today so keep it on the radar.

STP

Suntech Power target raised at HSBC Securities and given a new target of $55 per share and an Overweight rating.

Pre-Market Gappers

Gapping up:

DAL +7.6%, FNM +2.1%, FRE +1.9%, HOV +1.8%, RBS +1.2%, TXCO +1.2%...

Gapping down:

AUY -3.4%, LVS -3.1%, BP -2.2%, TOT -1.4%.

Upgrades and Downgrades

Upgrades:

BCSI, TU, CNQR

Downgrades:

NDSN, NED, SHOR, BKC, SMA, LOGI, FACE

LVS, PSUN, TLB, AVNX

Morning News

Futures are pointing to a slightly higher open

In Japan the Nikkei 225 closed down 0.68%

In Hong Kong the Hang Seng closed down 2.60%

European markets are trading higher

Investors await Bernanke as he is to speak today

Lehman is worried about its ability to withstand mounting losses

Google to be the default search engine on Verizon devices

Crude Oil is $120 per barrel

Gold is $837 per ounce

Thursday, August 21, 2008

Stock Market Review

7 Stocks you need to know for Friday

Upscale women's clothing retailer Ann Taylor (ANN | Quote | Chart | News | PowerRating) reports earnings Friday morning before the market opens. Analysts are expecting EPS of $0.48.

Massey Energy (MEE | Quote | Chart | News | PowerRating) was among the energy stocks continuing to move higher on Thursday. MEE was up more than 6% on the day.

An analyst with Ladenburg Thalmann upgraded shares of Lehman Brothers Holdings (LEH | Quote | Chart | News | PowerRating) to a "buy", saying that the investment bank was increasingly likely to be the target of a takeover.

Citigroup analysts lowered their third quarter earnings estimates for Goldman Sachs (GS | Quote | Chart | News | PowerRating) among other Wall Street investment banks.

Children's Place Retail Stores Inc. (PLCE | Quote | Chart | News | PowerRating) gained more than 11% on Thursday after reporting quarterly earnings losses that were not as bad as analysts had feared.

Slowing sales growth was blamed for the disappointing quarter reported by Salesforce.com (CRM | Quote | Chart | News | PowerRating), which ended the day down more than 18%.

Dick's Sporting Goods (DKS | Quote | Chart | News | PowerRating) rallied by more than 15% on Thursday on surprisingly optimistic full year earnings guidance. The retailer also announced quarterly earnings that were not as poor as expected.

Stocks in Play

BNI, FLR, FSLR, RIMM,

POT, JOYG, PBR

FLR

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

BIDU

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

GOOG

Google, Inc. is bucking the trend in early trading so keep it on the radar.

FSLR

First Solar continues to act well so keep it on the radar.

RIMM CHART



Minor break out point on RIMM over the 131-132 area could take it up to fill the gap at $140. We have resistance from $130 to $131 range.

Pre-Market Gappers




Gapping up:


NOVN +7.1%, LTD +6.3%, CHMP +3.9%, BYI +3.1%, SGLP +2.9%, CREL +1.9%...


Gapping down:

JDSU -10.7%, ISSC -9.6%, FRO -5.7%, FNM -4.1%, LYG -3.7%, CRM -2.3%, TOT -1.8%, RDS.A -1.6%, SNPS -1.0%.

Upgrades and Downgrades

Upgrades:

ARTC, TK, MEE, FCL, ACI, NGLS

CETV, RTLX

Downgrades:

SNPS, AER, CRM

Morning News

Futures are pointing to a lower open

In Japan the Nikkei 225 closed down 0.77%

In Hong Kong the Hang Sang closed down 2.60%

European markets are trading lower

Jobless Claims (wk8/16 , 2008)

Leading Indicators (Jul , 2008)

Philadelphia Fed Survey (Aug , 2008)

EIA Natural Gas Report (wk8/15 , 2008)

Money Supply (wk8/11 , 2008)

Crude Oil is trading higher and is $117 per barrel

Gold is up $14 per ounce and is $830 per ounce

Wednesday, August 20, 2008

Stock Market Review

7 Stocks you need to know for Thursday

H.J. Heinz (HNZ | Quote | Chart | News | PowerRating) reports earnings tomorrow morning before the market opens. Analysts are expecting EPS of $0.66.

On Wednesday, OfficeMax (OMX | Quote | Chart | News | PowerRating) lost its chief financial officer, who left for a position with Allstate Corporation (ALL | Quote | Chart | News | PowerRating).

Fannie Mae (FNM | Quote | Chart | News | PowerRating) and Freddie Mac (FRE | Quote | Chart | News | PowerRating) continued to move lower, with both stocks down more than 25% on the day.

eBay (EBAY | Quote | Chart | News | PowerRating) announced a dramatic cut in the fee it charges sellers at the "Buy it Now" fixed-price section of its website. The move brings the online auction website into closer competition with online retailer, Amazon.com (AMZN | Quote | Chart | News | PowerRating).

ENER CHART


ENER is acting very well today so keep it on the radar this afternoon as it could be momentum.

Solar Stocks to Watch

FSLR, CSIQ, LDK, STP, SOLF,

SPWR, SOLR

Stocks in Play

AAPL, AGU, BIDU, RIMM, POT

JRCC, GMXR

BIDU

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

FSLR

First Solar has a good tone in early trading so keep it on the radar.

Sectors Oversold and due for a bounce



10 Bullish Charts

ABT, SO, RAH, JBL, CI,

FRX, PTV, KSS, KFT, ARO

AMGN CHART


Amgen, Inc. breaks out over $65 per share so keep it on the radar. We would like to see above average volume on the break out.

Pre-Market Gappers

Gapping up:

PAY +27.3%, USEG +24.8%, STP +5.0%, OTEX +4.7%, PDLI +4.2%, RTP +3.3%, HPQ +3.0%, GOLD +2.4%, BHP +2.3%, SSL +2.1%, SYT +2.0%, MT +1.5%...

Gapping down:

NVTL -14.3%, ARAY -7.5%, OSTK -3.7%, ADI -2.6%.

Upgrades and Downgrades

Upgrades:

UBB, AUY, TSRA, KLAC, ESI, HTX, ORLY

Downgrades:

DPS, NVTL, AAP, COMV, STEL, NATI,

JKHY, DISH

Morning News

Futures pointing to a higher open

In Japan the Nikkei 225 closed down .10%

In Hong Kong the Hang Seng closed up 2.20%

European markets are trading higher

MBA Purchase Applications (wk8/15 , 2008)

Fannie, Freddie Bailout May Hinge on Costs for $223 Billion Debt Rollover

Crude Oil is $115 per barrel

Gold is $817.50 per ounce

Tuesday, August 19, 2008

Stock Market Review

7 Stocks you need to know for Wednesday

Energy stocks were among the most impressive performers to the upside on Tuesday, with Peabody Energy Corporation (BTU | Quote | Chart | News | PowerRating) and Massey Energy Company (MEE | Quote | Chart | News | PowerRating) both climbing by more than 7%.

Among the biggest decliners in the Dow industrials was American International Group (AIG | Quote | Chart | News | PowerRating), which lost nearly 6% on Tuesday.

Hewlett-Packard (HPQ | Quote | Chart | News | PowerRating) beat analysts' earning estimates by three cents in its report Tuesday after the markets closed.

A settlement with U.S. prosecutors in a Medicaid fraud case sent shares of WellCare Health Plans (WCG | Quote | Chart | News | PowerRating) soaring by more than 10%.

BJ's Wholesale (BJ | Quote | Chart | News | PowerRating) reports earnings Wednesday morning before the bell. Analysts are expecting EPS of $0.57.

Shares of Lehman Brothers Holdings (LEH | Quote | Chart | News | PowerRating) fell more than 12%, rapidly closing in on the historic, multi-year July lows.

Fertilizer Stocks to Watch

AGU, BG, CF, MOS, MON, POT, TNH

MA

Mastercard is bucking the trend in early trading so keep it on the radar.

FSLR

First Solar is trading up a bit here in pre-market so keep it on the radar.

FLR

Fluor was upgraded this morning so keep it on the radar.

Pre-Market Gappers


Gapping up:


XFML +17.6%, WCG +10.8%, FMR +3.9%, DEG +2.6%, HD +2.0%, FSLR +1.8%, NMX +1.7%, CME +1.0%...

Gapping down:

CNTF -21.9%, ABMD -9.8%, HBC -2.6%, FNM -2.1%, UBS -2.1%, ING -2.1%, DB -2.0%, AIG -1.5%.


Upgrades and Downgrades

Upgrades:

MENT, FLR, NCS, CDNS, TWGP

Downgrades:

SUN, MITI, TRX, NVTL, SAIA, ODFL

HBAN, CNL, LII, IM, BEAT, HSY, OMRI

XPRT, CMVT, WDFC, MAN, RHI

Morning News

Futures are pointing to a lower open

In Japan the Nikkei 225 closed down 2.28%

In Hong Kong the Hang Seng closed down 2.15%

European markets are down 1.5% on average

Home Depot Quarterly Profit Falls on Housing Slump

ICSC-UBS Store Sales (wk8/16 , 2008)

Housing Starts (Jul , 2008)
Producer Price Index (Jul , 2008)
Redbook (wk8/16 , 2008)
State Street Investor Confiden (Aug , 2008)

Crude Oil is $112 per barrel

Gold is $799 per ounce

Monday, August 18, 2008

Stock Market Review

7 Stocks you need to know for Tuesday

Rising prices and an analyst downgrade encouraged traders to sell shares of The Hershey Company (HSY | Quote | Chart | News | PowerRating), which were down by more than 9% on Monday.

Analysts are expecting earnings per share of $0.76 when Target (TGT | Quote | Chart | News | PowerRating) reports earnings Tuesday morning before the open.

Electronic Arts (ERTS | Quote | Chart | News | PowerRating) announced that it was withdrawing its $2 billion bid for Take-Two Interactive Software (TTWO | Quote | Chart | News | PowerRating) - though the two software gaming companies remain in negotiations.

Fears that the U.S. government will be forced to bailout both Fannie Mae (FNM | Quote | Chart | News | PowerRating) and Freddie Mac (FRE | Quote | Chart | News | PowerRating), led to aggressive selling in shares of both companies on Monday.

Home Depot (HD | Quote | Chart | News | PowerRating) reports quarterly earnings Tuesday before the bell. Analysts are expecting EPS of $0.61.

AAPL

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

POT

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

Pre-Market Gappers


Gapping up:


UB +11.5%, SDTH +8.2%, GFI +5.1%, TSL +3.3%, TOT +2.7%, SLV +2.4%, MT +2.2%, UBS +2.1%, RDS.A +2.0%, BP +1.5%, RTP +1.0%...

Gapping down:

FNM -5.7%, FRE -5.1%, HSY -4.4%, LEH -1.5%.

RIMM CHART


RIMM has a possible bull flag on the chart and going over $134-135 range would be bullish. This security also has a gap to fill up to $140 per share.

Upgrades and Downgrades

Upgrades:

NCS, CDNS, TWGP

Downgrades:

HBAN, CNL, LII, IM, BEAT, HSY, OMRI

XPRT, CMVT, WDFC, MAN, RHI

Morning News

Futures are pointing to a higher open

In Japan the Nikkei 225 closed up 1.12%

In Hong Kong the Hang Seng closed down 1.10%

European markets are currently trading higher

Lowe's Earnings Fall for 4th straight quarter on U.S. housing decline

Dollar falls as Housing, Inflation Reports May Delay Fed's Rate Increase

Tropical Storm Fay maybe become a Hurricane before reaching Florida

Crude Oil trading up due to Tropical Storm Fay

Crude Oil is $114 per barrel

Gold is $798.50 per ounce

Saturday, August 16, 2008

VIDEO - Pennants (bullish)

A new video (Bullish Pennants) has been added to the Leavitt Brothers' Chart Pattern tutorials...

Bullish Chart Patterns

VIDEO - Symmetrical Triangles
VIDEO - Ascending Triangles
VIDEO - Wedges
VIDEO - Flags
VIDEO - Pennants

Bearish Chart Patterns

VIDEO - Descending Triangles
VIDEO - Wedges
VIDEO - Flags
VIDEO - Pennants
VIDEO - Rectangles

Here's our report on the financial crisis and many of the responses we got...

How Did We Get Into This Financial Mess?
Responses to How Did We Get Into This Financial Mess?

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Earnings Preview for the week of August 18-22

Monday: before the market - BHP, LOW, PRGO, PWRD, TSL, YTEC; after the close - CNTF, SGK, XFML... Tuesday: before the market - CCUR, GASS, HD, MDT, MGPI, MYGN, SKS, SOL, TGT; after the close - ADI, ARAY, CHIP, DRYS, HPQ, JKHY, LZB, NVTL, OTEX... Wednesday: before the market - AMWD, BJ, EJ, EV, FTD, MENT, RGS, ROST, RTLX, STP; after the close - AFCE, BYI, CLZR, CRM, CTRN, GYMB, HOTT, IMOS, JDSU, LDG, LTD, LTON, PVH, SMTC, SNPS, SYMM... Thursday: before the market - BKC, BKE, BKS, BONT, CMRG, CTR, CYBX, DKS, DMRC, FRO, GME, GMTN, HNZ, HRL, KNSY, LANC, LB, LYTS, MPR, PDCO, PLCE, SCHS, SCVL, SFL, SHMR, SIFY, SMRT, SSI, TECD, TTC, TWB; after the close - ARO, AVNX, BCSI, BEBE, CALL, CPWM, DITC, FL, FMD, GPS, HIBB, HRAY, INTU, JMBA, LRN, NDSN, PSUN, RAE, SCSC, SHOR, TMA, VRGY, WTSLA, ZUMZ... Friday: before the market - ANN, CSUN, HPOL, SKIL; after the close - PERY

Friday, August 15, 2008

Stock Market Review

7 Stocks you need to know for Monday

Retailers were among the big gainers on Friday, with Kohl's (KSS | Quote | Chart | News | PowerRating) and Nordstrom (JWN | Quote | Chart | News | PowerRating) beating analyst earnings estimates and closing higher by more than 7% and 4%, respectively.

Also moving higher at week's end were semiconductor stocks including Cypress Semiconductor (CY | Quote | Chart | News | PowerRating) which was up by more than 12% and Advanced Micro Devices (AMD | Quote | Chart | News | PowerRating), which was up more than 6%.

The S&P's decision not to downgrade the credit ratings of Ambac Financial Group (ABK | Quote | Chart | News | PowerRating) and MBIA, Inc. (MBI | Quote | Chart | News | PowerRating) led to strong rallies in shares of both companies on Friday.

Lowe's (LOW | Quote | Chart | News | PowerRating) reports earnings Monday morning before the market opens. Analysts are expecting EPS of $0.56.

ADSK

Autodesk was upgraded at Needham to a Buy from Neutral so keep it on the radar.

SPWR

Merrill Lynch upgraded Sun Power today to a Buy from Neutral so keep it on the radar.

CTRP CHART


Look for a continuation on this security today or next week.

Pre-Market Gappers

Gapping up:

FFHL +25.6%, ABK +14.0%, NWMO +13.5%, MBI +10.5%, EMIS +8.8%, APP +8.6%, ADSK +8.5%, UAUA +5.0%, GOLD +4.9%, KONG +4.7%, CROX +4.7%, NRG +3.9%, LEH +3.5%, KSS +3.2%, OPLK +3.1%, SPWR +2.3%, FNM +2.3%, WM +2.3%, FRE +1.9%, MER +1.3%, UNP +1.0%...

Gapping down:

BLG -12.1%, SLV -9.3%, HAR -6.7%, AAUK -5.0%, NSPH -4.9%, DV -4.2%, GLD -3.0%, ABX -2.9%, YRCW -2.3%, JWN -2.1%, RICK -1.9%, NOK -1.7%, DB -1.7%, AUY -1.4%, RTP -1.3%,HBC -1.2%.
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