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Ken flagg's Blog – September 2011 Archive (63)

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SMF Notes WRAPX S&P futures vs fair value: -10.20. Nasdaq futures vs fair value: -24.30.

Stock futures haven't really had much of a reaction to the latest dose of data, mostly because there weren't any dramatic surprises to the numbers. Personal income for August declined by 0.1%, which contrasts with the consensus call for a 0.1% increase. The unexpected slip comes after income had increased by 0.3% in the prior month. However, personal spending increased by 0.2%, as had been broadly expected. Still, the pickup wasn't as strong as the 0.8% jump…

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Added by ken flagg on September 30, 2011 at 8:30am — No Comments

SMF Notes End of Day Summary: Varied Results for Major Averages

The major equity averages were up with big gains before broad selling pressure cut down stocks in afternoon action. A late bounce made for a better looking finish, though.

Stocks ended the prior session in weak fashion, but buyers came rushing back in this morning. Their interest was stirred by news that Germany gave its support to the expansion of the European Financial Stability Facility, which is aimed at…

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Added by ken flagg on September 29, 2011 at 8:31pm — No Comments

SMF Notes FDO Family Dollar:

 Trian Fund Management withdrew its offer to acquire FDO following invitation to join the Board - amended 13D (53.31 )

"As previously reported, in February 2011 the Trian Group contacted the Issuer and proposed that the Trian Group or one of its affiliates acquire the Issuer at a price in the range of $55 to $60 per Share in cash, subject to customary conditions, including approval of the proposed transaction by the… Continue

Added by ken flagg on September 29, 2011 at 9:13am — No Comments

SMF Notes Durable Goods Orders Preview: August 2011

The Briefing.com consensus expects durable goods orders to increase 0.1% in August after rising 4.1% in July. The growth in July was due to strong demand for new aircraft. Those orders seemed to have held up in August as Boeing (BA) registered an estimated 36% increase in aircraft sales. Boeing announced 127 aircraft orders in August, including a 100 airplane deal with Delta Air Lines (DAL). This comes one month after AMR Corp's (AMR) American Airlines also ordered… Continue

Added by ken flagg on September 28, 2011 at 8:26am — No Comments

SMF Notes Early Floor Talk:

 Futures recovering a portion of late-day pullback; little new news with regard to Europe

While the U.S. market finished with a +1.1% gain yesterday, a late-day pullback left the market more than 1.5% off of its intraday highs. This morning, futures are recovering a portion of that late-day pullback (S&P futures +8, DJ futures +72), as European markets have strengthened over the course of their day. However,…

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Added by ken flagg on September 28, 2011 at 8:00am — No Comments

SMF Notes "LISTEN CAREFULLY THIS IS OWE OUT LOOK TO"

Trader on the BBC says Eurozone Market will crash

[7:03:27 AM] MMT FLAGG: http://www.youtube.com/watch?v=aC19fEqR5bA&feature=player_detailpage
[7:04:21 AM] MMT FLAGG: http://www.youtube.com/watch?v=lqN3amj6AcE&feature=player_detailpage

Added by ken flagg on September 28, 2011 at 7:26am — No Comments

SMF Notes End of Day Summary:

 Stocks Slip, but Still Score Third Straight Gain

The Dow ended the day with a gain of almost 150 points, but that is actually only half of what it had sported just a couple of hours prior to the close... Stocks got a nice pop at the open as market participants took their cues from Europe, where the major bourses bounced to gains that ranged from 4% to almost 6% amid hope that plans are being crafted to help restore…

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Added by ken flagg on September 27, 2011 at 8:05pm — No Comments

SMF Notes Floor Talk:Afternoon pullback trims some gains -Update-

The broad market averages have seen a notable pullback in recent trade, with the Dow giving up about 90 pts over the past 30 minutes. There isn't one single factor responsible for the pullback from highs, but we'd note that it coincides with a few negative headlines after a strong two-day run that had taken the broad market up by roughly 5% since Friday's close. Financials have been one of the weaker sectors amid this afternoon's pullback from highs, after Meredith… Continue

Added by ken flagg on September 27, 2011 at 7:48pm — No Comments

SMF Notes S&P Indices Announces Changes to U.S. Indices

S&P Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 Indices: S&P SmallCap 600 constituent Home Properties (HME) will replace BJ's Wholesale Club (BJ) in the S&P MidCap 400, and Resources Connection (RECN) will replace Home Properties in the S&P SmallCap 600 index after the close of trading on Friday, September 30. BJ's Wholesale Club is being acquired by Leonard Green & Partners L.P. and CVC Capital…

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Added by ken flagg on September 26, 2011 at 8:19pm — No Comments

SMF Notes FXE Some more details on the CNBC report -Update-

The news was apparently provided to CNBC via a 'Top European Official'... the plan would be to use the European Investment Bank, which has already been established instead of the ECB. This could circumvent Germany opposition which has repeatedly said that it did not want the ECB to take the additional leverage on its books... the EIB would use Special Investment Vehicles (SPVs) to be used to purchase bonds; these bonds could be used to purchase debt and also be… Continue

Added by ken flagg on September 26, 2011 at 8:16pm — No Comments

SMF Notes 18 CRM Salesforce.com:

 Facebook partners with Heroku - FBR Capital (117.38 -2.92)

FBR Capital notes facebook has partnered with CRM (specifically its Heroku platform) to offer facebook developers the ability to quickly launch applications via Heroku's cloud platform. This is a big endorsement as Heroku is the first such partner selected by facebook to provide its developers with a platform to host their applications. They believe this…

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Added by ken flagg on September 26, 2011 at 8:03pm — No Comments

SMF Notes Relative Sector Weakness -Update-

Tech (XLK -1%, Semi SMH -1.7%) has been a laggard but also seeing Energy/Commodity (Silver SLV -7.7%, Coal KOL -3.7%, Gold GLD -3%, Ag/Chem MOO -2.9%, Mining XME -2.5%, Crude Oil USO -2.4%, Gold Miners GDX -2.1%, Steel SLX -1.9%, Oil Service OIH -1.8%, Materials XLB -1.1%) falter as the Dollar Index extends its bounce off the pre-open low.

Added by ken flagg on September 26, 2011 at 8:01pm — No Comments

SMF Notes End of Day Summary: Volatile Week Comes to a Close

The stock market mustered its first gain of the week on Friday. The gain, although modest, came as participants moved to cover their positions following four days of concerted selling... Action in the final session of the week was a bit boring, given the volatility of the preceding sessions. Stocks essentially spent the session chopping along in mixed fashion. The action came as participants displayed a sense of uncertainty regarding the market's treatment of… Continue

Added by ken flagg on September 24, 2011 at 5:07pm — No Comments

SMF Notes "S&P 500" index market

 trading stock stocks analysis finance news economy technical investment futures options business "stock index" "stock market" "market commentary" trends economic jobs economy "us economy" gold silver fed "federal reserve" obama dollar financial markets euro crisis debt currency dow government bank system education

Added by ken flagg on September 24, 2011 at 5:05pm — No Comments

SMF Notes Commodities Weekly:

 Commodities Fall Sharply, Led by Silver and Gold; Silver Declines 25%, Gold Falls Over 9% -Update-

Broad market weakness persisted this week with the S&P falling almost 7% and the CRB Commodity Index losing about 8%. The dollar index gained around 1.6%. Overall, commodities hit a 10-month low this week.

During the week, biggest move in the dollar index by far…

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Added by ken flagg on September 24, 2011 at 5:03pm — No Comments

SMF Notes Today's biggest point gainers/losers

Biggest point gainers: ISRG (377.89 +9.33), WPO (321.95 +8.95), CEO (152.73 +7.41), VFC (125.07 +6.30), ALX (362.00 +5.81), SNP (94.18 +5.41), MSTR (113.40 +5.20), SINA (86.91 +5.09), NKE (88.91 +4.73), PCP (161.50 +4.41), WTM (398.16 +4.14), PTR (116.53 +4.04), BH (292.17 +3.88), MA (334.83 +3.87), ADES (17.35 +3.85), ATRI (192.93 +3.81), CHA (63.63 +3.33), DECK (97.89 +3.29), YOKU (17.24 +2.93), APAG.F (73.06 +2.92), FOSL (93.54 +2.88), STRA (79.05 +2.87), CLX…

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Added by ken flagg on September 23, 2011 at 9:24pm — No Comments

SMF Notes Market Update:

 Mixed Action Mid-Session

Another round of aggressive selling pressure abroad had weighed on sentiment before the open, but most stocks have since managed to muster modest gains as many market participants cover their positions ahead of the weekend... Worries about economic growth and the threat of contagion in Europe caused stocks to slide about 6% during the course of the past two sessions. Pressure abroad only… Continue

Added by ken flagg on September 23, 2011 at 8:04pm — No Comments

SMF Notes NFLX Netflix upgraded to Outperform at Wedbush; tgt raised to $155;

 believes an acquisition of streaming business by Amazon (AMZN) makes sense (128.50 )

Wedbush upgrades NFLX to Outperform from Underperform and raises their tgt to $155 from $110. Upon reflection, it appears to firm that the driver for the separation of Netflix into two businesses—Netflix.com (for streaming) and Qwikster.com (for DVD rentals)—was to position the streaming business for sale to Amazon.com (AMZN). In its… Continue

Added by ken flagg on September 22, 2011 at 9:07am — No Comments

SMF Notes Initial Claims Level Declines, Remains Above Our "Recovery Zone"

The initial claims level declined from 432,000 for the week ending September 10 to 423,000 for the week ending September 17. The Briefing.com consensus expected the initial claims level to fall to 418,000. There were no special circumstances affecting the jobless claims data this week. Since the week ending August 12, the initial claims level has remained above the 410,000 upper bound of our "Recovery Zone." With claims above the upper bound, payroll gains in… Continue

Added by ken flagg on September 22, 2011 at 9:06am — No Comments

SMF Notes Overnight Summary -

- World markets respond negatively to FOMC

After US markets declined post FOMC announcement, the downward momentum continued as the rest of the world responded negatively to the Fed's plans to buy long term Treasuries and and suggesting significant downside risks to the US economy. China did little to help matters as HSBC Manufacturing PMI data contracted for a third straight month. According to China Sec. Journal,…

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Added by ken flagg on September 22, 2011 at 8:28am — No Comments

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