Abercrombie & Fitch-ANF: building inventory a concern; valuation cheap@FBRC
Primarily due to overall weak macro retail, FBRC anticipates trading to be generally range-bound; however any positive impact from management’s flagship and international efforts, the firm would be more constructive on the stock. The firm reduced their 3Q08 and FY08/FY09 EPS estimates while maintaining their $55 target price and Market Perform rating.
Monsanto-MON estimates and target raised@MLCO
Merrill raised MON estimates based on higher indications by the company for 2009 biotech trait price increases. Target to $165 from $155. Shares are Buy rated.
Solar: JASO, FSLR, & SPWR mentioned positively@LEHM
Lehman said JASO, FSLR, and SPWR have relatively low sensitivity to exchange rate fluctuations while CSIQ and TSL have relatively high exposure. The firm said recent dollar strength may be a near-term headwind but said downside is limited given valuations.
(Important note on how to use this upgrade/downgrade list with analyst comments and news….you must parse out the factual data (Factual data is the most important) from the opinionated data and always take all analyst comments with a grain of salt. Do not follow blindly with their recommendations. Remember that technicals are the most powerful force in short term direction for stock prices due to the law of supply and demand.)
Dow Jones Industrials Index-DJX: Pivot Points
The following are the pivot points for the Dow Jones Industrials Index (DJX). Pivot High: 11739.975, Pivot Low: 11629.815. 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.
S&P 500-SPX: Pivot Points
The following are the pivot points for the S&P 500 (SPX). Pivot High: 1305.365, Pivot Low: 1294.485. 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.
Nasdaq 100 Index-NDX: Pivot Points
The following are the pivot points for the Nasdaq 100 Index (NDX). Pivot High: 1965.610, Pivot Low: 1942.160. 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.
Fast Money position recap- First Moves: Joe likes NOV, Pete likes STZ, Karen likes GLNG.
Adami Owns (AGU), (C), (GS), (INTC), (BTU), (MSFT), (NUE); Najarian Owns (AAPL) And Is Short (AAPL) Calls; Najarian Owns (CSCO) Calls, (NVDA) Calls: Najarian Owns (HCBK) Puts; Finerman Owns (GS); Finerman’s Firm Owns (JCP), (MO), (NOK), (SUN), (TSO), (VLO); Finerman’s Firm And Finerman Own (GLNG); Finerman’s Firm And Finerman Own (C) Leaps
Finerman’s Firm Is Short British Pounds; Finerman’s Firm Is Short (XLF), (BBT), (COF), (SPG), (IYR), (IJR), (MDY), (SPY), (IWM).
Terranova Owns (RIMM), (AAPL), (IYT), (XLF), (KOL), (VLO), (SA), (GS), (POT), (FCX), (NOV), (X), (EOG), (INTC), (GOOG), (CME), (BNI), (SA), (YHOO), (SU); Terranova Is Short Crude Oil Time Spread (Short Dec. 2008, Long Dec. 2012); Terranova is Long Crude Oil (Dec. 2012).
Art Cashin saw a disconnect between oil prices moving up and the market moving up. He wants us to watch the market and how it responds to economic data or oil and commodity prices. The economic numbers to watch this week are the housing numbers and the market’s subsequent reaction to them. Europe is quiet for the week and trading could be thin and quiet for us this week as well. Optiondragon Leading Indicator Basket - LIB= UUP (dollar) + USO (inverse price related) + XLF (has been moving in lock step with this one) + IWM (small caps have been outerforming and leading lately , let’s see if this correlation holds) + (GOOG+ AAPL + RIMM) (tech leadership).
Pick plays with a high probability of success, have focus and patience, run technicals through supply and demand.
Great luck and Happytrading! Come visit us myhappytrading.com, our new home for traders and investors.
More fractals and patterns in nature just like patterns in the market, both are run on formulas.
Turbines at the Barrage de la Rance electric power generating station in France create a whirlpool in the Rance River.
