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Ken flagg's Blog – May 2010 Archive (86)

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SMF ETF relative strength: ETF relative weakness:

ETF relative strength:

Sector: Jr Gold Miners-GDXJ +2.9%, Gold Miners-GDX+2.3%, Silver-SLV +2.2%, Gold-GLD +1.4%, Home Builders-XHB +1.3%, Copper-JJC +1.2%, Telecos-IYZ +1.2%.

Regional: South Africa-EZA +2.5%, Israel-EIS +2.2%, China-FXI +1.5%, Australia-EWA +1.5%.



ETF relative weakness:

Sector: Volatility-VXX -2.3%, Oil Services-OIH -2.0%, Natural Gas-UNG -1.3%, Banks-KBE -1.1%.

Regional: Spain-EWP -3.5%, Italy-EWI -2.8%,… Continue

Added by ken flagg on May 24, 2010 at 1:50pm — No Comments

SMF NASDAQ 100 (NDX) strength & weakness- Widely helds still lead here @ midday


NDX 10 Best % Performers:
GOOG, AAPL, VRTX, PCLN, TEVA, SNDK, BIDU, DELL, FLEX, LIFE

NDX 10 Worst % Performers:
MRVL, LOGI, ERTS, FSLR, FWLT, WCRX, XLNX, NVDA, LINTA, KLAC

NASDAQ A/D +330
NASDAQ TRIN +0.80

Added by ken flagg on May 24, 2010 at 1:48pm — No Comments

C Asset management sector downgraded to Neutral from Attractive at Goldman

Goldman also upgraded Citigroup (C) to Buy from Neutral; and cut Wells Fargo (WFC), Arch Capital (ACGL), Validus (VR) and Comerica (CMA) to…

Continue

Added by ken flagg on May 24, 2010 at 8:17am — No Comments

Early Floor Talk: Giving Back Friday's Rally

Equity futures are trading sharply lower this morning (S&P futures -13 and DJ futures -100), giving up the late-Friday short-covering rally as money again flows away from risky assets. The focus remains on Europe , whose markets fell overnight and are currently trading just off their lows. The major European averages are down 0.7-1.5% (FTSE -0.7%, CAC -0.8%, DAX -1.5%), while Spain (-2.2%) and Italy (-2.9%) are showing steeper losses. Financials… Continue

Added by ken flagg on May 24, 2010 at 7:51am — No Comments

Libor Shows Strain, Sales Dwindle, Spreads Soar: Credit Markets

May 24 (Bloomberg) -- Corporate bond sales are poised for their worst month in a decade, while relative yields are rising at the fastest pace since Lehman Brothers Holdings Inc.’s collapse as the response by lawmakers to Europe ’s sovereign debt crisis fails to inspire investor confidence.



Companies have issued $47 billion of debt in May, down from $183 billion in April and the least since December 1999, data compiled by Bloomberg show. The… Continue

Added by ken flagg on May 23, 2010 at 11:20pm — No Comments

DNDN Global Healthcare Conference

Monday:

$27 bln 3-month and $26 bln 6-month Treasury Bills Auctions

XRX, IT, CATM, KELYA at Bank of America Merrill Lynch Services Conference

HRS Analyst Meeting



Tuesday:

Fed's Bullard

V at UBS Electronic Payments Summit

Bernanke at BoJ Conference



Wednesday:

DNDN, BAX, CELG, ISRG at Citi Global Healthcare Conference

YHOO Investor Day

$40 bln 5-yr Treasury Notes Auction



Thursday:

Fed's… Continue

Added by ken flagg on May 21, 2010 at 10:44pm — No Comments

Commodities Weekly Summary: Energy and Metals Markets

Due to broad market weakness, which came on sovereign debt concerns, an increase in jobless claims and a negative leading indicators number, as some of the top drivers, most commodities took fell notable. Specifically, the energy and precious metals markets fell sharply, excluding copper, while the agriculture market was mixed. These losses even occurred despite a n 0.8% decline in the US Dollar Index this week.



Looking more closely at energy,… Continue

Added by ken flagg on May 21, 2010 at 10:41pm — No Comments

SMF End of Day Summary: Financials Help Stocks Snap Losing Streak

Pressure in the first few minutes of trade dropped the stock market to a fresh three-month low, but a rally by financials helped swing the broader market to higher ground and put an end to its recent streak of losses... Global participants reacted to the stock market's 3% drop in the prior session by trimming risk overnight. That caused steep slides among many foreign markets and sent the S&P 500 down another 1.5% in the first few minutes of… Continue

Added by ken flagg on May 21, 2010 at 10:08pm — No Comments

SMF Today's biggest point gainers/losers

Biggest point gainers: CME (315.8 +12.8), MA (214.78 +9.28), PCLN (190.13 +9.13), BH (295 +8.67), ISRG (319.75 +7.85), DECK (132.02 +7.34), GS (142.6 +6.5), CSWC (92.73 +6.33), WBK (94.51 +6.25), MKL (341.99 +5.87), CEO (157.5 +5.68), WLT (71.78 +5.68), AAPL (243.44 +5.68), PCP (118.28 +5.41), WPO (482.93 +5.28), ALX (300.26 +5.26), FSLR (114.65 +5.03), ICE (114.39 +4.87), WHR (97.56 +4.41), BLK (164.5 +4.4), NDSN (67.01 +4.18), EOG (100.42 +4.13), ESS… Continue

Added by ken flagg on May 21, 2010 at 2:04pm — No Comments

S&P 500 Financial Index: 197.35, +5.79; Rallying Post-Senate Vote

Financials are rallying following news that the Senate passed the Wall Street Reform bill. There is still the final step of merging the House and Senate bills before reform can be put into law, but for the short term headline concerns in the U.S. have passed.



The group has been under selling pressure since late March as sovereign concerns and regulatory reform weighed on the sector. Coupled with a strong rally in the two months prior, and… Continue

Added by ken flagg on May 21, 2010 at 1:42pm — No Comments

European Markets Closing Prices

uropean markets are now closed; stock markets across Europe performed as follows:

* UK's FTSE: -1.6%
* Germany's DAX: -2.3%
* France's CAC: -2.3%
* Spain's IBEX: -0.9%
* Portugal's PSI: -2.5%

Added by ken flagg on May 20, 2010 at 9:54pm — No Comments

Floor Talk: Mid-morning stabilization; afternoon vote and options expiration ahead

After deteriorating further off the open, the market has found a bit of stabilization and is now hovering around the lows of the day. The S&P 500 is now down -2.2% on the day (after being down as much as 3%), at its worst levels since the 5/6 "flash" crash (DJ is -250 pts, SPX -30, Nasdaq Comp -69). The S&P 500 has now corrected ~11% off of the April highs, and is down ~2.6% YTD. Today's weakness mirrors further losses in Europe (FTSE -2.2%,… Continue

Added by ken flagg on May 20, 2010 at 9:40pm — No Comments

SMF Today's biggest point gainers/losers

Biggest point gainers: AAP (49.44 +3.35), MA (205.35 +2.9), CTRN (32.81 +2.32), PLCE (43.59 +2.09), V (74.93 +1.96), DLTR (61.5 +1.83), WSM (29.82 +1.38), ROST (52.77 +1.04).



Biggest point losers: GOOG (478.85 -15.59), WPO (480.99 -14.6), ISRG (314.5 -14.27), BH -14 (293 -14), WTM (318 -9.14), WBK (88.36 -8.48), AAPL (240.17 -8.17), WSC… Continue

Added by ken flagg on May 20, 2010 at 1:28pm — No Comments

End of Day Summary: Euro Finds Support, but Stocks Still Log Loss

A

rally by the euro against the dollar did little to motivate buyers, but

stocks still slashed their losses after the S&P 500 dropped more than 1% to

breach its 200-day moving average... Overnight pressure against the euro

took

the currency down to a… Continue

Added by ken flagg on May 19, 2010 at 11:03pm — No Comments

11:15 GDX Mkt Vctrs Gold Miners continues to weaken

The GDX gapped lower off the open with steady losses extended in recent action near the 50% retracement of the March to May advance at 48.67 (session low 48.64). The next level of note below if follow through develops is at its 50-day ema at 47.72 -- AEM, AU, ABX, FCX, GFI, GG, HMY, KGC, NEM, BVN, AUY, EGO.

Added by ken flagg on May 19, 2010 at 1:51pm — No Comments

IEF Trading the yield curve (92.81 +0.40)

The yield curve (2-10-yr spread) has seen a tremendous move over the past several months as investors have reduced their appetite for risk and sought safety in longer-term government debt. After reaching an all-time high of near 294 in mid-February, as long-term yields rose while short-term yields remained extremely low, the curve has flattened to current levels near 260. It could be headed lower towards 250 as it has just breached its short-term… Continue

Added by ken flagg on May 19, 2010 at 1:47pm — No Comments

Commodities Update: Oil Prices Push Higher

Collective weakness among commodities had the CRB Commodity Index down as much as 0.8% earlier, but its loss has been trimmed to 0.3% in recent trade. Most of the move is owed to a bounce by crude oil prices... Oil prices had retreated to fresh multimonth lows below $68 per barrel earlier this morning, but prices have since recovered and even poked into positive territory in the moments that followed news that weekly oil inventories had a build of… Continue

Added by ken flagg on May 19, 2010 at 1:46pm — No Comments

GLD street TRACKS Gold Shares holds near retrace support (116.63 -2.89)

Under heavy pressure this morning with it recently attempting to stabilize near the 38% retracement of the March to May rally at 116.12 (session low 116.08). A sustained push back through 116.80/116.90 would be a positive intraday step to improve the price action.

Added by ken flagg on May 19, 2010 at 1:44pm — No Comments

SMF yield curve chart trade it SMF TRADERS









Mario… Continue

Added by ken flagg on May 19, 2010 at 1:29pm — No Comments

S&P futures vs fair value: -7.80. Nasdaq futures vs fair value: -10.80.

Better-than-expected earnings and upside guidance from Hewlett-Packard (HPQ) and Deere (DE) have been unable to keep the prior session’s slide from extending into premarket trade. Weakness has been perpetuated by stiff selling overseas, where Asia’s major market averages already closed with varied losses and Europe ’s major bourses currently contend with losses of at least 2%. The euro has stabilized after slipping to a fresh four-year low against the… Continue

Added by ken flagg on May 19, 2010 at 8:14am — No Comments

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