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 Post subject: October 22nd Monday TF, 6E & CL Futures $1000.00
PostPosted: Mon Oct 22, 2012 10:48 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $670.00 dollars or +6.70 points, EuroFX 6E futures @ $0.00 dollars or +0.0000 ticks and Light Crude Oil CL (WTI) futures @ $330.00 dollars or +0.33 points. Total Profit @ $1000.00 dollars.

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
CME EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup

In addition, all trades were posted real-time in the free #TheStrategyLab chat room. You can read today's #TheStrategyLab trading chat room logs for details (e.g. time, price, contract size) about each one of my trades from entry to exit along with price action commentary as the trade traversed in comparison to what's shown in the above image...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=109&t=1349

Also, posted below are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis)...regardless if I'm day trading, swing trading or position trading.

Image Price Action Analysis via WRB Analysis Tutorials @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support prior to purchasing the Volatility Trading Report (VTR).

Image Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=192&t=1618

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Market Summaries

The below summaries by Bloomberg, CNNMoney, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events via WRB Analysis from one trade to the next trade to give me the market context before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trading (day trading, swing trading, position trading) and reactions to the markets...something I can not get from my broker statements alone.

U.S. Market Wrap

Oct. 22 (Bloomberg) -- Bloomberg's Deborah Kostroun reports on the performance of the U.S. equity market today. U.S. stocks erased earlier losses, sending the benchmark Standard & Poor’s 500 Index higher for the first time in three days, as an advance in Apple Inc. shares overshadowed disappointing corporate results.

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Market Update

4:20 pm : Stocks got off to a quiet start as mixed quarterly reports continued to pour in. Indecision was apparent in the early going as the major averages traded near their respective unchanged levels. As the day progressed, the S&P 500 and Dow headed lower. However, the final hour brought out bargain-hunters who lifted the major averages near their respective session highs. As a result, the S&P 500 ended unchanged. Meanwhile, the Nasdaq outperformed and settled higher by 0.4%.

Caterpillar (CAT 85.08, +1.22) advanced 1.5% after reporting mixed earnings. The industrial bellwether announced earnings of $2.54 against the Capital IQ consensus estimate of $2.24. However, the company's revenue of $16.45 billion missed the Capital IQ consensus by $470 million. In addition, the company lowered its full-year 2012 earnings and revenue guidance below consensus. Management commented on its cautious outlook by saying "CAT dealers have lowered order rates well below end-user demand to reduce their inventories."

The technology sector was the top performer after posting the largest loss during Friday's sell-off. Apple (AAPL 634.03, +24.19) gained 4.0% ahead of an event scheduled for 13:00 ET tomorrow. At the event, the company is expected to unveil a smaller version of the iPad tablet. The strong gains in Apple supported the Nasdaq throughout the day.

Cirrus Logic (CRUS 39.66, +1.44) rose by 3.8% after Feltl & Co. upgraded the stock to ‘strong buy' on an expectation of an earnings beat.

Elsewhere in tech, Netflix (NFLX 67.88, +2.90) advanced 4.5% after reports indicated the company is considering moving into seven new markets, including Asia.

Also of note, OpenTable (OPEN 46.36, +2.77) gained 6.4% after reports indicated Yahoo! (YHOO 15.77, -0.07) may be interested in purchasing the restaurant reservation service. Note that Yahoo! is scheduled to report its third quarter earnings after today's close.

Philips Electronics (PHG 26.23, +1.63) surged 6.6% after the electronics manufacturer reported a 13.6% year-to-year rise in revenues. The revenue of EUR6.13 billion was ahead of the Capital IQ consensus estimate of EUR5.96. Today's buying has lifted the stock to levels not seen since June of last year.

Utility stocks underperformed the broader market. Avista (AVA 25.54, -0.92), which specializes in generating and delivering electricity, lost 3.5% after the company lowered its third quarter and full-year 2012 earnings guidance below consensus. In addition, the company issued in-line guidance for full-year 2013 as it sees earnings between $1.62 and $1.76. Peer Public Service Enterprise (PEG 32.43, -0.28) slipped 0.9% after Credit Suisse downgraded the stock to ‘underperform' from ‘neutral.'

Elsewhere in utilities, electricity provider The AES Corporation (AES 10.81, -0.23) slid 2.1%.

The Dow Jones Transportation Average trailed the remaining industrials, and closed lower by 0.4%. Overseas Shipholding Group (OSG 1.23, -2.02) sank 62.2% after announcing it is evaluating its strategic options, including a potential filing of Chapter 11 bankruptcy. The company also said that its past financial statements are not to be relied upon, and restatements may be needed. The uncertainty regarding the company's future prompted Dahlman Rose to downgrade the stock to ‘sell' from ‘hold' with a $0.50 price target.

Railroad stocks within the transportation average were mixed. Norfolk Southern (NSC 66.83, +1.19) advanced 1.8%, while CSX (CSX 21.29, +0.19) added 0.9%. Meanwhile, Kansas City Southern (KSU 78.36, -0.07) shed 0.1% after reporting mixed quarterly results. The company's earnings of $0.82 fell $0.03 short of the Capital IQ consensus estimates, while the revenue was reported in-line with Capital IQ analyst expectations. Following the earnings release, the stock received a pair of downgrades. BB&T downgraded the stock to ‘hold' from ‘buy' while BMO Capital lowered the rating on KSU to ‘underperform' from ‘market perform.'

Also of note, FedEx (FDX 91.48, -0.63) and United Parcel Service (UPS 71.56, -0.74) lost 0.7% and 1.2%, respectively. Note that United Parcel Service will report third quarter earnings before tomorrow's open.

Peabody Energy (BTU 28.95, +3.06) reported third quarter earnings of $0.51. This exceeded the Capital IQ consensus estimates by $0.17. In addition, the company's revenues of $2.06 billion also beat the Capital IQ analyst expectations. The company's management issued in-line full-year 2012 guidance and said that "global macroeconomic conditions continue to be constrained due to the sluggish U.S. economy, European recession, and decelerating China growth." Peabody Energy settled higher by 11.8% following the earnings release. Meanwhile, peers Alpha Natural Resources (ANR 9.48, +0.51), Arch Coal (ACI 8.41, +0.50), and James River Coal (JRCC 5.31, +0.31) registered gains between 5.7% and 6.3%.

Monster Beverage (MNST 45.73, -7.58) fell 14.2% after the Food and Drug Administration received death reports citing the popular Monster energy drink. The company has since denied any wrongdoings. Today's selling has dropped the stock to levels not seen since January of this year.

Over the weekend, AMC Networks (AMCX 47.30, +1.77), Cablevision Systems (CVC 18.45, +0.06), and DISH Network (DISH 36.63, +1.16) announced a settlement in the VOOM HD litigation. Per the settlement, DISH Network paid a cash settlement of $700 million to Cablevision and AMC Networks. In addition, DISH has entered into a long-term distribution agreement with AMC to carry AMC, IFC, Sundance Channel, and WE tv. Following the settlement, DISH added 3.3%, AMC Networks gained 3.9%, and Cablevision tacked on 0.3%.

There is no economic data scheduled for tomorrow's release.DJ30 +2.38 NASDAQ +11.34 SP500 +0.62 NASDAQ Adv/Vol/Dec 1221/1.61 bln/1234 NYSE Adv/Vol/Dec 1442/634.5 mln/1535

3:35 pm : Crude oil slid deeper into negative territory as the dollar regained momentum. Also adding to the pressure were reports that TransCanada (TRP) was to restart its Keystone pipeline today. Crude fell off its pit session high of $90.59 per barrel and settled 1.9% lower at $88.70 per barrel, or just above its session low of $88.58 per barrel.

Natural gas tumbled off its session high of $3.64 per MMBtu and after steadily trending lower, it settled at its session low of $3.45 per MMBtu for a 4.7% loss. Precious metals chopped around in positive territory during today's pit trade despite the lack of any U.S. economic data.

Gold brushed a session high of $1730.30 per ounce and settled with a 0.1% gain at $1726.10 per ounce. Silver touched a session high of $32.47 per ounce in morning action but pulled-back slightly in afternoon floor trade. It still managed to book a 0.5% gain as it closed at $32.27 per ounce.DJ30 -48.16 NASDAQ +3.80 SP500 -4.43 NASDAQ Adv/Vol/Dec 1136/1405.3 mln/1303 NYSE Adv/Vol/Dec 1248/426 mln/1726

3:00 pm : The major averages are holding their afternoon levels. The S&P 500 and Dow are both lower by 0.6%.

Texas Instruments (TXN 27.76, -0.05) is among notable names which are scheduled to report their third quarter results after today's close. The Capital IQ consensus expects the semiconductor manufacturer to report earnings of $0.46 on revenue of $3.34 billion.

Western Digital (WDC 34.98, +0.10) is also scheduled to report. The Capital IQ consensus is projecting the hard drive maker to announce earnings of $2.31 on $3.95 billion in revenue.

In addition, Canadian National Railway (CNI 87.51, -0.66) and Yahoo! (YHOO 15.82, -0.01) are also scheduled to report.

Ahead of tomorrow's open, 3M (MMM 91.87, -1.07), E.I. du Pont (DD 49.21, -0.13), Ryder Systems (R 43.08, -0.43), United Parcel Service (UPS 71.25, -1.05), and Whirlpool (WHR 86.02, -1.03) are all scheduled to report.DJ30 -85.47 NASDAQ -3.61 SP500 -8.71 NASDAQ Adv/Vol/Dec 1023/1.21 bln/1403 NYSE Adv/Vol/Dec 1090/366.6 mln/1888

2:30 pm : The major averages are maintaining their levels after bouncing off session lows. The S&P 500 is off by 0.6%.

Over the weekend, AMC Networks (AMCX 46.74, +1.21), Cablevision Systems (CVC 18.38, 0.00), and DISH Network (DISH 36.23, +0.76) announced a settlement in the VOOM HD litigation. Per the settlement, DISH Network paid a cash settlement of $700 million to Cablevision and AMC Networks. In addition, DISH has entered into a long-term distribution agreement with AMC to carry AMC, IFC, Sundance Channel, and WE tv. Following the settlement, DISH trades higher by 2.1%, AMC Networks is adding 2.7%, and Cablevision is showing little change.

In unrelated news, Monster Beverage (MNST 48.17, -5.15) is falling 9.7% after the Food and Drug Administration received death reports citing the popular Monster energy drink. Today's selling has dropped the stock to levels not seen since January of this year.DJ30 -76.26 NASDAQ -2.84 SP500 -7.88 NASDAQ Adv/Vol/Dec 1008/1.11 bln/1407 NYSE Adv/Vol/Dec 1073/337.1 mln/1889

2:00 pm : The major averages have bounced off their newly-set session lows. The S&P 500 is down 0.6%.

Earlier, Peabody Energy (BTU 28.17, +2.28) reported third quarter earnings of $0.51. This exceeded the Capital IQ consensus estimates by $0.17. In addition, the company's revenues of $2.06 billion also beat the Capital IQ analyst expectations. The company's management issued in-line full-year 2012 guidance and said that "global macroeconomic conditions continue to be constrained due to the sluggish U.S. economy, European recession, and decelerating China growth." Peabody Energy trades higher by 8.8% following the earnings release.

Meanwhile, peers Alpha Natural Resources (ANR 9.22, +0.25), Arch Coal (ACI 8.24, +0.33), and James River Coal (JRCC 5.26, +0.26) are all up between 3.0% and 5.2%.DJ30 -81.09 NASDAQ -4.29 SP500 -8.70 NASDAQ Adv/Vol/Dec 982/1.00 bln/1424 NYSE Adv/Vol/Dec 1054/306.6 mln/1901

1:30 pm : The bearish sentiment persists as the S&P 500 and Dow have marked fresh session lows. The two indices are down 0.6% and 0.7%, respectively.

The Dow Jones Transportation Average is lower by 1.1% as it trails the remaining industrials. Overseas Shipholding Group (OSG 1.29, -1.95) is sinking 60.2% after announcing it is evaluating its strategic options, including a potential filing of Chapter 11 bankruptcy. The company also said that its past financial statements are not to be relied upon, and restatements may be needed.

Railroad stocks within the transportation average are mixed. Norfolk Southern (NSC 66.56, +1.25) is advancing 1.9%, while CSX (CSX 21.17, +0.07) is up 0.3%. Meanwhile, Kansas City Southern (KSU 77.60, -0.83) is lower by 1.1% after reporting mixed quarterly results. The company's earnings of $0.82 fell $0.03 short of the Capital IQ consensus estimates, while the revenue was reported in-line with Capital IQ analyst expectations. Following the earnings release, the stock received a pair of downgrades. BB&T downgraded the stock to ‘hold' from ‘buy' while BMO Capital lowered the rating on KSU to ‘underperform' from ‘market perform.'

Also of note, FedEx (FDX 91.07, -1.03) and United Parcel Service (UPS 71.26, -1.04) are both down near 1.2%.DJ30 -88.63 NASDAQ -5.47 SP500 -8.70 NASDAQ Adv/Vol/Dec 996/912.3 mln/1381 NYSE Adv/Vol/Dec 1106/279.2 mln/1826

1:05 pm : Equities have shown indecision during the first half of today's session. The S&P 500 and Dow have chopped around their respective unchanged lines, while the tech-heavy Nasdaq outperforms. At midday, the S&P 500 is lower by 0.3%, while Nasdaq is adding 0.1%.

Caterpillar (CAT 84.91, +1.05) is advancing 1.3% after reporting mixed earnings. The industrial bellwether announced earnings of $2.54 against the Capital IQ consensus estimate of $2.24. However, the company's revenue of $16.45 billion missed the Capital IQ consensus by $470 million. In addition, the company lowered its full-year 2012 earnings and revenue guidance below consensus. Management commented on its cautious outlook by saying "CAT dealers have lowered order rates well below end-user demand to reduce their inventories."

Utility stocks are underperforming the broader market. Avista (AVA 25.55, -0.91), which specializes in generating and delivering electricity, is down 3.4% after the company lowered its third quarter and full-year 2012 earnings guidance below consensus. In addition, the company issued in-line guidance for full-year 2013 as it sees earnings between $1.62 and $1.76. Peer Public Service Enterprise (PEG 32.35, -0.35) is sliding 1.1% after Credit Suisse downgraded the stock to ‘underperform' from ‘neutral.'

Elsewhere in utilities, electricity provider The AES Corporation (AES 10.82, -0.22) is sliding 2.0%.

On the upside, American States Water Company (AWR 44.45, +1.21) is rising by 2.8%.

The technology sector is outperforming the broader market after posting the largest loss during Friday's sell-off. Apple (AAPL 624.60, +14.76) is gaining 2.4% ahead of an event scheduled for 13:00 ET tomorrow. At the event, the company is expected to unveil a smaller version of the iPad tablet.

Cirrus Logic (CRUS 39.74, +1.52) is rising by 3.9% after Feltl & Co. upgraded the stock to ‘strong buy' on an expectation of an earnings beat.

Elsewhere in tech, Netflix (NFLX 68.82, +3.84) is advancing 5.9% after reports indicated the company is considering moving into seven new markets, including Asia.

Also of note, OpenTable (OPEN 44.82, +1.23) is higher by 2.8% after reports indicated Yahoo! (YHOO 15.82, -0.02) may be interested in purchasing the restaurant reservation service. Note that Yahoo! is scheduled to report its third quarter earnings after today's close.

Solar Stocks are seeing broad strength today. LDK Solar (LDK 0.82, +0.11) is spiking 15.9% after signing a share purchase agreement with Heng Rui Xin Energy. Per the agreement, Heng Rui Xin will purchase newly issued ordinary shares, accounting for about 19.9% of the total issued and outstanding capital of LDK Solar, at a price of $0.86 per share.

In addition, a German poll released over the weekend indicated that a large majority of Germans support the switch from nuclear to renewable energy despite the elevated cost. As a result, solar stocks are seeing strength. The Guggenheim Solar ETF (TAN 15.12, +0.07) is rising by 0.5%. Looking at individual names, First Solar (FSLR 23.75, +0.21) is higher by 0.9%, and ReneSola (SOL 1.29, +0.06) is advancing 4.9%.

Cascade (CASC 64.91, +9.83) is spiking 17.9% after Toyota Industries agreed to acquire the machinery producer for $65.00 per share. The total transaction is valued at $759 million, and the purchase price represents an 18.0% premium to Cascade's Friday closing price of $55.08.

Philips Electronics (PHG 26.14, +1.54) is surging 6.3% after the electronics manufacturer reported a 13.6% year-to-year rise in revenues. The revenue of EUR6.13 billion was ahead of the Capital IQ consensus estimate of EUR5.96. Today's buying has lifted the stock to levels not seen since June of last year.DJ30 -35.94 NASDAQ +3.93 SP500 -3.76 NASDAQ Adv/Vol/Dec 1177/819.2 mln/1197 NYSE Adv/Vol/Dec 1337/251.5 mln/1594

12:30 pm : Stocks are holding their recent levels and the S&P 500 is off by 0.2%.

For-profit education names are moving higher as a group. After being pressured during the recent weeks, the stocks appear to be rebounding slightly. DeVry (DV 22.38, +0.83) is firmer by 3.9%, while Career Education (CECO 3.71, +0.11), Corinthian Colleges (COCO 2.55, +0.04) and ITT Educational Services (ESI 26.68, +0.62) are all up between 1.6% and 3.6%.DJ30 -28.76 NASDAQ +3.18 SP500 -3.44 NASDAQ Adv/Vol/Dec 1140/743.1 mln/1206 NYSE Adv/Vol/Dec 1337/229.2 mln/1584

12:00 pm : After marking fresh session lows, the major averages have staged a rebound. The Nasdaq has re-entered positive territory, and is now higher by 0.2%.

Looking at the materials sector, steel producers are showing strength. United States Steel (X 22.66, +0.51) is rising by 2.3%, while Olympic Steel (ZEUS 17.70, +0.13) and Steel Dynamics (STLD 12.77, +0.21) are seeing respective gains of 0.7% and 1.6%. Meanwhile, Cliffs Natural Resources (CLF 44.60, +0.15) is adding 0.3% despite being downgraded to ‘hold' from ‘buy' at Deutsche Bank.

Copper and gold miner Freeport-McMoRan (FCX 40.30, -0.88) is slipping 2.1% despite beating on earnings and revenues. The management commented that "third quarter results reflect production growth in North America and Africa, offset by anticipated lower ore grades in Indonesia."

Elsewhere, Texas Industries (TXI 43.44, +0.60) is rising by 1.4% after Sterne Agee upgraded the supplier of building materials to ‘neutral' from ‘underperform.'DJ30 -18.43 NASDAQ +6.53 SP500 -2.09 NASDAQ Adv/Vol/Dec 1180/658.6 mln/1147 NYSE Adv/Vol/Dec 1387/207.2 mln/1509

11:30 am : Unable to hold their ground, the three major averages are now in the red. The S&P 500 is off by 0.3%.

Utility stocks are underperforming the broader market. Avista (AVA 25.65, -0.81), which specializes in generating and delivering electricity, is down 3.1% after the company lowered its third quarter and full-year 2012 earnings guidance below consensus. In addition, the company issued in-line guidance for full-year 2013 as it sees earnings between $1.62 and $1.76. Peer Public Service Enterprise (PEG 32.31, -0.40) is sliding 1.2% after Credit Suisse downgraded the stock to ‘underperform' from ‘neutral.'

Elsewhere in utilities, electricity provider The AES Corporation (AES 10.85, -0.19) is sliding 1.7%.

On the upside, American States Water Company (AWR 43.87, +0.63) is rising by 1.5%.DJ30 -39.35 NASDAQ -0.22 SP500 -4.63 NASDAQ Adv/Vol/Dec 1056/568.8 mln/1240 NYSE Adv/Vol/Dec 1216/183.9 mln/1637

11:00 am : The major averages continue to trade near their respective unchanged levels. The S&P 500 is off by 0.1%, while Nasdaq is adding 0.1%.

Solar Stocks are seeing broad strength today. LDK Solar (LDK 0.82, +0.11) is spiking 15.9% after signing a share purchase agreement with Heng Rui Xin Energy. Per the agreement, Heng Rui Xin will purchase newly issued ordinary shares, accounting for about 19.9% of the total issued and outstanding capital of LDK Solar, at a price of $0.86 per share.

In addition, a German poll released over the weekend indicated that a large majority of Germans support the switch from nuclear to renewable energy despite the elevated cost. As a result, solar stocks are seeing strength. The Guggenheim Solar ETF (TAN 15.11, +0.06) is rising by 0.4%. Looking at individual names, First Solar (FSLR 23.73, +0.19) is higher by 0.8%, and ReneSola (SOL 1.29, +0.06) is advancing 5.3%.DJ30 -13.73 NASDAQ +1.35 SP500 -2.02 NASDAQ Adv/Vol/Dec 1149/470.3 mln/1103 NYSE Adv/Vol/Dec 1378/156.8 mln/1468

10:35 am : Commodities are mixed this morning, while the dollar index is near session lows. The energy sector is flat to lower, while the precious metals space is showing gains.

Nov crude oil has been higher for the majority of today's session and rose as high as $91.22. Crude has since sold off and is now -0.2% at $90.22/barrel. Nov natural gas is chopping around the unchanged line and is now -0.1% at $3.61/MMBtu.

Gold and silver rallied earlier this morning with both precious metals pushing to new session highs. Dec silver rose as high as $32.47 and is now +0.7% at $32.34/oz. Dec gold is +0.2% at $1726.80/oz. Dec copper is -0.3% at $3.63/lb.DJ30 -3.49 NASDAQ +9.68 SP500 +0.35 NASDAQ Adv/Vol/Dec 1227/375.5 mln/990 NYSE Adv/Vol/Dec 1486/132 mln/1338

10:00 am : The major averages continue to trade in mixed fashion as stocks search for direction. The Nasdaq is up 0.2%.

The technology sector is off to an early lead after posting the largest loss as a result of Friday's sell-off. Apple (AAPL 619.04, +9.20) is gaining 1.5% ahead of an event scheduled for 13:00 ET tomorrow. The company is expected to unveil a smaller version of the iPad at the event.

Cirrus Logic (CRUS 39.35, +1.13) is rising by 3.0% after Feltl & Co. upgraded the stock to ‘strong buy' on an expectation of an earnings beat.

Elsewhere in tech, Netflix (NFLX 67.48, +2.50) is advancing 3.9% after reports indicated the company is considering moving into seven new markets, including Asia.

Lastly, OpenTable (OPEN 46.01, +2.42) is jumping 5.6% after reports indicated Yahoo! (YHOO 15.83, -0.01) may be interested in purchasing the restaurant reservation service. Note that Yahoo! is scheduled to report its third quarter earnings after today's close.DJ30 -2.85 NASDAQ +6.80 SP500 -0.41 NASDAQ Adv/Vol/Dec 1141/239.1 mln/1002 NYSE Adv/Vol/Dec 1457/91.7 mln/1291

09:45 am : The major equity indices opened the session on a mixed note. Currently, the Nasdaq leads the way, up 0.1%. However, the Dow and S&P 500 are off by 0.3% and 0.2%, respectively.

Cascade (CASC 64.90, +9.82) is spiking 17.8% after Toyota Industries agreed to acquire the machinery producer for $65.00 per share. The total transaction is valued at $759 million, and the purchase price represents an 18.0% premium to Cascade's Friday closing price of $55.08.

Elsewhere, SanDisk (SNDK 43.67, -0.35) is down 0.8% after RBC Capital Markets downgraded the stock to ‘sector perform' from ‘outperform.' Meanwhile, peer Western Digital (WDC 35.01, +0.13), who is scheduled to report earnings after today's close, is adding 0.4%.DJ30 -37.88 NASDAQ +2.09 SP500 -3.17 NASDAQ Adv/Vol/Dec 1005/146.9 mln/1050 NYSE Adv/Vol/Dec 1268/68.5 mln/1413

09:15 am : [BRIEFING.COM] S&P futures vs fair value: -3.30. Nasdaq futures vs fair value: -1.30. Heading into the open, equity futures continue pointing modestly higher.

With positive earnings from Peabody Energy (BTU 27.50, +1.61), energy stocks—and coal names in particular—are poised for a stronger open.

Meanwhile, defensive telecom stocks are trading lower in pre-market. AT&T (T 35.13, -0.19) and Verizon Communications (VZ 45.00, -0.16) are both slipping near 0.5%.

The industrial sector is also expected to see some weakness. Caterpillar (83.00, -0.86) is down 1.0% after disappointing earnings, and Deere & Company (DE 83.56, -1.43) is off by 1.7%.

09:01 am : [BRIEFING.COM] S&P futures vs fair value: -3.30. Nasdaq futures vs fair value: -0.50. Equity futures are modestly higher as they trade near pre-market lows.

Looking at pre-market movers, Overseas Shipholding Group (OSG 1.55, -1.70) is sinking 52.3% after announcing it is evaluating its strategic options, including a potential filing of Chapter 11 bankruptcy. The company also said that its past financial statements are not to be relied upon, and a restatement may be needed.

Elsewhere, Peabody Energy (BTU 27.50, +1.61) is spiking 6.2% after its third quarter earnings of $0.51 exceeded Capital IQ consensus estimates by $0.17. In addition, the company's revenues of $2.06 billion also beat the Capital IQ analyst estimates. The company's management issued in-line full-year 2012 guidance and said that "global macroeconomic conditions continue to be constrained due to the sluggish U.S. economy, European recession, and decelerating China growth." Peers Alpha Natural Resources (ANR 9.31, +0.34) and Arch Coal (ACI 8.14, +0.23) are adding 3.8% and 2.9%, respectively.

08:30 am : [BRIEFING.COM] S&P futures vs fair value: -2.10. Nasdaq futures vs fair value: +3.30. U.S. equity futures have slipped off their pre-market highs, but they remain in the positive territory. The S&P 500 futures are higher by 0.2%.

The major Asian bourses were mixed as investors remained cautious following Friday's steep slide on Wall Street. Markets saw early weakness following the wider than expected Japanese trade deficit of JPY0.98 trillion (JPY0.74 expected, JPY0.46 previous) which showed exports to both China and the U.S. hitting nine-month lows, but rebounded to finish on their highs. Over the weekend, Hong Kong was forced to defend the "strong side" of its peg to the dollar. Authorities announced the purchase of $603 million at HK$7.75 per dollar to prevent the HK$ from gaining too much ground on the greenback. Data elsewhere was limited to Hong Kong's CPI which ticked up to 3.8% year-over-year (3.5% expected, 3.7% previous).

In Japan, the Nikkei added 0.1% to eke out a gain for the sixth consecutive session. Buyers emerged following the early losses as participants gobbled up shares in anticipation of more Bank of Japan stimulus. Exporters gained as the yen weakened with Honda Motor adding 1.1% and Nintendo tacking on 1.0%. Elsewhere, Jupiter Telecom jumped 18% on reports the company will acquire Japan Cablenet by the end of spring.

Hong Kong's Hang Seng finished higher by 0.7% as shares rallied for an eighth consecutive session. China Mobile rallied 1.1% after reports from Sina.com indicated the company raised its 2012 profit estimates. A spokesman at the company was quick to refute the claims, stating the company does not provide guidance.

In China, the Shanghai Composite settled higher by 0.2% as energy and property names led the way. Energy names were bid following a report which showed output jumped in September. Sinopec added 0.5% on the news. Elsewhere, property stocks jumped after a government survey showed property prices climbed in the third quarter. Poly Real Estate led the advance with a 1.3% gain.

European markets opened lower, but have reclaimed their losses since. Spain's ruling party won a crucial regional vote. Meanwhile, an article out of Spain indicated that the European Central Bank rejected specific yield targeting, though it appears the Outright Monetary Transactions program will be triggered if the 10-yr yield exceeds 7.000%. In Germany, Der Spiegel reports the country is preparing a program for Greece to repurchase its own bonds. Greece's Finance Minister, Yiannis Stournaras, believes 90% of the work is complete in order to receive the next tranche of aid. In addition, Fitch is optimistic the Eurozone will survive this crisis. Also of note, the Eurozone debt-to-GDP ratio rose to 87.3% from 87.2% prior.

In the United Kingdom, the FTSE is showing little change. However, miners and financials are seeing interest in a flat market. Evraz and Randgold Resources are both up near 2.0%. Meanwhile, Barclays and Lloyds Banking Group are higher by 2.0% and 1.7%, respectively. Aggreko is down 2.3% after HSBC downgraded the stock.

France's CAC is adding 0.1% and Vivendi is leading the way. The telecommunications stock is advancing 1.6%. On the downside, Veolia Environnement is down 4.5% after denying plans for a merger with Suez Environnement.

Germany's DAX is slipping 0.1% and car makers are seeing weakness. BMW and Daimler are off by 0.9% and 0.4%, respectively. Tire maker Continental is the biggest laggard, down 1.2%. Elsewehere, financials are outperforming. Commerzbank is rising by 3.8% and Deutsche Bank is firmer by 2.0%.

08:00 am : S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: +3.80. U.S. equity futures are modestly higher as the second heavy week of third quarter earnings is set to begin.

Overnight, the global markets proved to be resilient following Friday's sell-off on Wall Street. Markets were pressured initially as Japan's Trade Balance came in below expectations. The data indicated exports to the U.S. and China hit nine-month lows. Japan's Nikkei opened lower by nearly 2.0%, but was able to reclaim its losses by day's end. The Minutes from the most recent Bank of Japan meeting turned over nothing incremental. However, a Bank of Japan Governor did comment separately that he sees growth and CPI flat-lining in the near-term. Elsewhere, the Chinese press does not see any grounds for loosening monetary policy at this time. The key Asian indices all registered gains. Hong Kong's Hang Seng advanced 0.7%, China's Shanghai Composite gained 0.2%, and Japan's Nikkei added 0.1%.

In Europe, Spain's ruling party won a crucial regional vote. Meanwhile, an article out of Spain indicated that the European Central Bank rejected specific yield targeting, though it appears the Outright Monetary Transactions program will be triggered if the 10-yr yield exceeds 7.000%. In Germany, Der Spiegel reports the country is preparing a program for Greece to repurchase its own bonds. Greece's Finance Minister, Yiannis Stournaras, believes 90% of the work is complete in order to receive the next tranche of aid. In addition, Fitch is optimistic the Eurozone will survive this crisis. Also of note, the Eurozone debt-to-GDP ratio rose to 87.3% from 87.2% prior. Nearing midday, France's CAC is higher by 0.3%, UK's FTSE is advancing 0.2%, and Germany's DAX is unchanged.

In U.S. corporate news, Caterpillar (CAT 82.86, -1.00) is down 1.2% after reporting mixed earnings. The industrial bellwether announced earnings of $2.54 against the Capital IQ consensus estimate of $2.24. However, the company's revenue of $16.45 billion missed the Capital IQ consensus by $470 million. In addition, the company lowered its full-year 2012 earnings and revenue guidance below consensus. Management commented on the cautious outlook by saying "CAT dealers have lowered order rates well below end-user demand to reduce their inventories."

BP (BP 43.08, -0.05) is showing little change after Bloomberg TV reported Rosneft will pay $17.1 billion in cash, plus shares for BP's 50.0% stake in TNK-BP.

Philips Electronics (PHG 25.95, +1.35) is advancing 5.5% after the electronics manufacturer reported a 13.6% year-to-year rise in revenues. The revenue of EUR6.13 billion was ahead of the Capital IQ consensus estimate of EUR5.96.

Nexen (NXY 22.70, -2.70) is down 10.6% after a Reuters story suggested the Cnooc (CEO 206.00, 0.00) -- Nexen deal may be in jeopardy after the Canadian government blocked Petronas' C$5.2 billion for Progress Energy.

There is no economic data scheduled to be released today.

06:29 am : [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +9.00.

06:29 am : Nikkei...9010.71...+8.00...+0.10%. Hang Seng...21697.55...+145.80...+0.70%.

06:29 am : FTSE...5904.22...+8.10...+0.10%. DAX...7379.10...-1.50...0.00.

Special thanks to Bloomberg, CNNMoney, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader and http://stocktwits.com/wrbtrader

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