It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.

Nasdaq 100 Index-NDX: Pivot Points
The following are the pivot points for the Nasdaq 100 Index (NDX). Pivot High: 1844.735, Pivot Low: 1779.715. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.

Dow Jones Industrials Index-DJX: Pivot Points
The following are the pivot points for the Dow Jones Industrials Index (DJX). Pivot High: 11043.105, Pivot Low: 10747.145. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low.

MasterCard-MA initiated with a Strong Buy, target $340@BUCK
Visa-V initiated with an Accumulate, target $90@BUCK

Jim Cramer’s “Mad Money”

Cramer said he believes Thursday will be a landmark day for wind. Cramer said wind power is the cheapest form of renewable energy. He said the entire wind power industry could get a boost on Thursday when the Texas Public Utility Commission makes an important ruling that would create eight renewable energy zones in Texas, significantly boosting wind power in the state. Cramer said the decision will likely set the precedent for other states to get behind wind power. Cramer revisited his index of 10 wind power stocks levered to the growth of wind power created on May 28. Since its creation, the “Wind-ex” is down 11.8% along with the overall markets. But Cramer said after Thursday’s expected ruling, the wind story will get better than ever. The “Mad Money” Wind-ex includes Trinity Industries (TRN), Tomas & Betts (TNB), Owens Corning (OC), Clipper Windpower (CRPWF), Kaydon Corp (KDEN), Broadwind Energy (BWND), Woodward Governor (WGOV), MasTec (MTZ), Vestas Wind Systems (VWDRY) and Otter Tail (OTTR). Cramer said the poor performance of the Wind-ex stocks has nothing to do with the wind power business, but rather with the industrial components of all of the companies. He reminded viewers that as wind power accounts for larger portions of their earnings, the other divisions will account for less. He views the current weakness in the stocks as a valid pullback and a buying opportunity. Cramer added Quanta Services (PWR) to the “Mad Money” Wind-Ex. Last mentioned by Cramer on Nov. 15, 2007 at $27.28, and is up 6.3% since that recommendation. He said that Quanta, which builds and maintains energy infrastructure, is poised to take advantage of the coming boom in wind power. According to Cramer, the U.S. will invest $1.5 trillion on energy infrastructure between now and 2030, and Quanta will be a beneficiary. Quanta, which currently has $5.2B of work in its backlog, sports only a $5B marketcap. Cramer said whenever a company’s backlog meets or exceeds its total marketcap, it’s worth a look. Cramer would buy Quanta under $29. Shares of Eaton (ETN), a stock he’s championed in recent weeks, got pounded today after it lowered its annual guidance by 20c. He talked with Sandy Cutler, Eaton’s chairman, president and CEO. Cutler said he lowered the company’s guidance in recognition of a potential global economic slowdown. Cutler said market overreacted. He said he still sees overall strength in Eaton’s global electrical and hydraulics business. Cramer said he’s standing behind Eaton and agreed the declines today were just an over-reaction. LIGHTNING ROUND: (Bullish) FMX; RIG; APA. (Bearish) APP; AER.

Cleveland Cliffs-CLF initiated with a Buy, target $180@KEYB
KeyBanc believes the pullback in CLF shares is an attractive entry point given acceleration of North American Iron Ore pellet contract pricing and increased pellet production into 2009.

Exco Resources-XCO explores possible joint venture opportunies
EXCO Resources, Inc. announced that it has engaged Goldman, Sachs & Co. to explore possible joint venture opportunities with various interested parties to enhance exploitation and development of its East Texas/North Louisiana and Appalachia operating areas.

V & MA: Industry checks support continued growth and margin upside@UBSW
UBS’s checks indicate June volumes remain strong and they remain bullish on V and MA given revenue, margin, and EPS strength, and likely upside. V and MA are Buy rated but the firm prefers V at current levels.

Fast Money position recap

First Moves- Jeff likes ATVID, Guy likes JNJ, Tim likes VIP, Joe likes AMZN.
Macke Owns (USO), (GS), (INTC), (MSFT), (WMT), (ATVID); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Seymour Owns (AAPL), (F), (INTC), (MER), (MSFT), (TSO); Seygem Asset Management Owns (EEM), (VIP); Terranova Owns (YHOO), (INTC), (RIMM),(SU), (VLO), (IYT), (XLF), (LUV), (BNI), (CME),  (GOOG), (FCX); Terranova Is Short 30 Year U.S. Bond Futures (Sept.); Terranova Owns Dollar Index Futures (Sept.); Terranova Owns (SA).

All eyes on the dollar (UUP) and oil. The buyout of ANR has nearly completed my trade on ANR in my LT portfolio! Traded and owned this name since the low $40’s so I am happy about the long volatile trek up. Now CLF is the stud to watch. The coal names should see some action as well as FSLR and the solar sector (ENER, SPWR) on the news of SC Edison deal. We were just talking about this late in the trading day in our trading room! Specifically about FSLR and SPWR too. Here is the article about the solar land grab going on right now. In our trading room we share info, trade ideas, important facts and articles like these all day and in realtime. Oh and I’ve been discussing the uptick rule removal as a big problem since last year and was the only one to say something about it before everyone else and it took them a year to figure it out….sheeesh! I am going to let the market range out in the morning and then look for opportunities. Pick plays with a high probability of success, run technicals through support and resistance, plan the trade and trade the plan!