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Ken flagg's Blog – August 2011 Archive (97)

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SMF Notes Nasdaq Comp -9.5 slides to new session low -Update-

Noted in the 09:34 update that the Nasdaq Comp was probing a resistance zone of interest at 2599/2609 which marked its March/June range lows, the 50% retracement off the May/July highs as well as its 50 day ema. The index edged just slightly above (session high 2611) before rotating 33 points lower. In the 12:32 updated suggested watching 2594/2599 resistance for a read on the potential for upside follow through. The index reached 2597.93 at 13:00 and has dropped… Continue

Added by ken flagg on August 31, 2011 at 11:09pm — No Comments

SMF Notes Market Update: Stocks Aim for Strong Finish to Otherwise Weak Month

Stocks are reclaiming earlier gains in an effort to extend their end-of-month advance, which has taken the S&P 500 almost 9% higher in just seven sessions. The stock market is on pace for its poorest monthly performance in more than a year... Positive sentiment among participants continues to prop up stocks. As such, the major equity averages opened in positive territory as traders looked to capitalize on the market's upward trend, which has been helped along… Continue

Added by ken flagg on August 31, 2011 at 11:08pm — No Comments

SMF Notes S Sprint Nextel statement on Department of Justice action on proposed AT&T (T) and T-Mobile (DTEGY) transaction

 - applauds the DOJ for conducting a careful and thorough review (3.78 +0.23)

"The DOJ today delivered a decisive victory for consumers, competition and our country. By filing suit to block AT&T's proposed takeover of T-Mobile, the DOJ has put consumers' interests first. Sprint applauds the DOJ for conducting a careful and thorough review and for reaching a just decision - one which will ensure that consumers… Continue

Added by ken flagg on August 31, 2011 at 11:07pm — No Comments

SMF Notes Treasuries climb off lows

2-yr unch @ 99 26/32
3-yr -01/32 @ 100 15/32
5-yr -02/32 @ 100 08/32
7-yr -03/32 @ 99 24/32
10-yr -04/32 @ 99 13/32
30-yr -11/32 @ 103 27/32

Added by ken flagg on August 31, 2011 at 8:21pm — No Comments

SMF Notes European Markets Update: FTSE +1.0%, CAC +1.8%, DAX +1.3%



The major European indices are higher in afternoon trade as markets around the globe rally on the prospects of more easing by the Fed. The strength in equities comes despite a further uptick in Italian yields as the Italian 10-yr is now at 5.11%. Euro zone CPI Flash Estimate was in-line at 2.5% while German Unemployment Change (-8K actual v. -10K expected) and Euro zone unemployment (10.0% actual v. 9.9% expected) missed forecasts. German retail sales (0.0%…

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Added by ken flagg on August 31, 2011 at 8:20pm — No Comments

SMF Morning Notes 8/31/2011

8/31/2011

SMF Notes S&P futures vs fair value:

 +2.10. Nasdaq futures vs fair value: +5.20.

Stock futures suggest that market participants are ready to put stocks on the path toward their fourth straight gain, or their seventh advance in eight sessions. The bid comes amid renewed strength in Europe, where the…

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Added by ken flagg on August 31, 2011 at 11:38am — No Comments

SMF Afternoon Notes 8/30/2011

8/30/11



SMF Notes S&P futures vs fair value: -10.50. Nasdaq futures vs fair value: -15.50.

 

The S&P 500 has ascended more than 7% during the course of the past five sessions, but this morning participants are pushing back a bit. In similar fashion, many of Europe's bourses have drifted lower after staging…

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Added by ken flagg on August 30, 2011 at 3:58pm — No Comments

SMF Notes S&P futures vs fair value: +12.40. Nasdaq futures vs fair value: +21.70.

Stock futures are up solidly in an extension of last week's advance, which was the first weekly gain in more than a month. The positive tone ahead of the open has also been bolstered by strong performances by the major bourses of Europe, where news that a merger between EFG Eurobank and Alphabank -- a pair of Greece's financial plays -- has been taken as a sign of progress toward a more stable banking system in the corners of the continent. None of the blue chips… Continue

Added by ken flagg on August 29, 2011 at 8:57am — No Comments

SMF Notes Overnight Summary -

- Japan chooses new PM; 2 Greek banks talking merger boosting financials

There was little news out of Jackson Hole post-Bananke's speech, thus equity indexes are continuing their positive momentum. The lone market under pressure overnight was the Shanghai as the PBOC reportedly broadened lenders' reserve requirements to cover margin deposits late Friday. Japan elected its Finance Minister Yoshihiko Noda as its new… Continue

Added by ken flagg on August 29, 2011 at 8:56am — No Comments

SMF Notes EVERY ADD THESE SYMBOLS to a watch list 52 week lows some good names to watch!

PKX LLL SPW MUR INFY TRV HBC DB LFC NIHD AFL UPL TS AKAM MT CRK LNC DRIV FST OVTI MTL TXT DNR CBG HGSI STLD MMR CIEN CEDC MF TGB MSPD

Added by ken flagg on August 26, 2011 at 7:06pm — No Comments

SMF Notes Overnight Summary -

- World markets generally lower ahead of KC Fed's Econ Conference

The world markets are mostly lower ahead of the much hyped Bernanke speech later today. Perhaps what may be more interesting, will be commentary out of the EU leaders set to speak Saturday at the conference. Japan closed moderately higher after its PM Noada Kan finally resigned after the nation passed 2 major renewable energy bills. Japan's CPI came…

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Added by ken flagg on August 26, 2011 at 9:00am — No Comments

SMF Notes Today's biggest point gainers/losers

Biggest point gainers: PANL (46.57 +6.15), TVIX (58.60 +3.49), RGLD (71.59 +2.70), DEO (76.11 +2.39), SINA (94.51 +2.14), AEM (67.78 +2.06), NFLX (218.00 +1.97), PSS (12.06 +1.78), HEI (52.69 +1.71), SIG (36.74 +1.58), VHC (20.66 +1.56), BVN (46.38 +1.53), TTC (51.07 +1.44), SLW (38.50 +1.39), AG (22.42 +1.39), GG (50.71 +1.27), VXX (42.17 +1.27), ABX (50.14 +1.15).

Biggest point losers: CMG (289.76 -6.70), BLK…

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Added by ken flagg on August 25, 2011 at 3:02pm — No Comments

SMF Notes Market Update:

 Sellers Resume Control

The major equity averages opened trade in positive territory, but quickly rolled over. Stocks have since moved up from session lows, but sizable losses remain... Sentiment ahead of the open was initially hampered by news that the latest weekly jobless claims tally climbed unexpectedly to 417,000, and word that Apple (AAPL 371.20, -4.98) CEO Steve Jobs will resign from the highly innovative…

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Added by ken flagg on August 25, 2011 at 2:58pm — No Comments

SMF Notes FFIV F5 Networks upgraded to Buy at Stifel Nicolaus; tgt $84 (73.46 )

Stifel Nicolaus upgrades FFIV to Buy from Hold and sets target price at $84. While firm believes that there is risk to our numbers given the macro backdrop, it believes that the shares have gotten cheap enough that further downside potential is likely limited. As a backdrop, firm stress tested all its models. In that test, firm concluded that F5's 2012 estimates could see a downside of around 22% from $4.47 to $3.50. While the decline is fairly steep, firm believes… Continue

Added by ken flagg on August 25, 2011 at 2:55pm — No Comments

SMF Notes Apple:

 Color on CEO Jobs' retirement announcement last night (376.18 ) -Update-

Oppenheimer notes, in a brief letter to Apple's board and Apple community, Steve Jobs announced his resignation as CEO. Mr. Jobs' impact on Apple can't be understated—he's its heart and soul. From that perspective his inability to meet the requirements of CEO is a negative for the stock. That said, the immediate announcement of Tim Cook,…

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Added by ken flagg on August 25, 2011 at 8:57am — No Comments

SMF Notes PNRA Panera Bread:

 Oppenheimer is highlighting a Top Pick (108.56 )

Oppenheimer would be buyers of PNRA and believes the business model is defensively positioned, pricing power is firmly intact and 2012 earnings expectations are underestimated. They expect market share gains to continue through 2012, in spite of higher menu prices, as PNRA's value scores remain top-class and competitors with less compelling SSS drivers and lower… Continue

Added by ken flagg on August 25, 2011 at 8:45am — No Comments

SMF Notes Early Floor Talk:

 U.S. futures flat ahead of tomorrow's Jackson Hole Symposium

The major equity markets around the globe are trading higher today following yesterday's strong gains on Wall Street. The strength comes following yesterday's better than expected headline reading for durable orders and the absence of any market rattling headlines from Europe.  U.S. equity futures have erased overnight loses and are now pointing to a flat…

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Added by ken flagg on August 25, 2011 at 8:41am — No Comments

SMF Notes Today's most active stocks

The following are today's most active stocks ranked by volume and relative volume, categorized by sectors (over $300 mln market cap and 100K average daily volume).

Today's top 20 volume

Technology: MU (38.27 mln -7.23%), S (28.38 mln -1.68%), INTC (27.1 mln -0.1%), CSCO (26.64 mln -0.96%), MSFT (23.22 mln -0.24%), ORCL (16.73 mln +0.23%), HPQ (16.3 mln +0.81%), RIMM…

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Added by ken flagg on August 24, 2011 at 2:58pm — No Comments

SMF Notes Today's biggest % gainers/losers -Update-

The following are today's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

Today's top 20 % gainers

Technology: AZPN (15.74 +13.4%), AVGO (32.26 +10.25%), YNDX (31.16 +7.71%), CHU (19.13 +6.57%), RP (20 +6.27%)

Services: MGM (10.13…

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Added by ken flagg on August 24, 2011 at 2:50pm — No Comments

SMF Notes Today's biggest point gainers/losers

 

Biggest point gainers: FOSL (90.06 +3.54), AVGO (32.24 +2.98), PCP (153.02 +2.43), GS (109.23 +2.37), DECK (82.51 +2.01), MHP (40.40 +1.96), V (85.71 +1.94), AZPN (15.74 +1.86), AGN (77.29 +1.67), PRX (30.84 +1.63), NAV (39.45 +1.62), WBC (44.30 +1.58), NST (44.60 +1.52), DDS (44.46 +1.51), ETR (63.87 +1.51), ISRG (341.45 +1.48), GDI (71.86 +1.47), LEA (43.12 +1.45), SODA (35.03 +1.45), TRN (23.79 +1.42), NKE…

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Added by ken flagg on August 24, 2011 at 2:48pm — No Comments

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