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 Post subject: November 12th Monday TF, 6E & CL Futures $1140
PostPosted: Mon Nov 12, 2012 11:50 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 @ $330.00 dollars or +3.30 points, EuroFX 6E futures @ $0.00 dollars or +0.0000 ticks and Light Crude Oil CL (WTI) futures @ $810.00 dollars or +0.81 points. Total Profit @ $1140.00 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=110&t=1366

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). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade or position trade.

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=195&t=1654

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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

Nov. 12 (Bloomberg) -- Bloomberg's Ellen Braitman reports on the performance of the U.S. equity market today. U.S. stocks rose, after the Standard & Poor’s 500 Index’s biggest weekly retreat since June, as investors awaited budget talks in Washington and European finance chiefs met to discuss Greek aid.

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Market Update

4:10 pm : Stocks began today's session on a higher note. However, the S&P 500 followed the early strength with a slide into the red. After hovering near its lows for little over an hour, the index staged a steady climb towards fresh session highs. The benchmark average followed the early afternoon strength with another slide towards its flat line, where it remained until the end of the day. Today's volume was well below average and the bond market was closed in observance of Veterans Day.

High-yielding telecom stocks have been under pressure during the past week. Today, the sector was the top performer. Within the space, Telephone & Data Systems (TDS 23.38, +0.81) advanced 3.6% after Citigroup upgraded the stock to ‘buy' from ‘neutral.'

Elsewhere in telecommunications, AT&T (T 33.87, +0.33) added 1.0% after announcing the company will subsidize the Apple (AAPL 542.83, -4.23) iPad. Meanwhile, Sprint Nextel (S 5.61, +0.06) also saw relative strength as the stock settled higher by 1.1%.

On the downside, Inteliquent (IQNT 2.96, -0.55) fell 15.7% after Morgan Stanley downgraded the stock to ‘equal-weight' from ‘overweight.'

Looking at today's M&A activity, Jefferies Group (JEF 16.27, +2.00) gained 14.0% after confirming plans to merge with Leucadia National (LUK 21.14, -0.66). Per the agreement, Jefferies stockholders will receive 0.81 of a share of LUK for each share of JEF owned. Following the transaction, Jefferies shareholders will hold 35.3% of Leucadia common stock.

In the materials sector, Titanium Metals (TIE 16.50, +4.93) surged 42.6% after being acquired by Precision Castparts (PCP 179.48, +8.15) for $16.50 per share. The purchase price represents a 42.6% premium to TIE's Friday closing price, and the total transaction is valued at approximately $2.9 billion.

In the health care space, biotechnology names led the group higher following positive trial data. Celgene (CELG 75.66, +4.16) surged 5.8% after its Phase III trial of Abraxane in the treatment of pancreatic cancer showed a statistically significant survival benefit.

Meanwhile, Gilead Sciences (GILD 73.92, +8.91) spiked 13.7% after reporting a 100% sustained virologic response rate for an Interferon-free regimen of Sofosbuvir and Ribavirin in treatment of Hepatitis C patients.

Homebuilders were broadly weaker and the SPDR S&P Homebuilders ETF (XHB 25.29, -0.38) shed 1.5%. Earlier, DR Horton (DHI 19.40, -1.20) reported mixed quarterly results. During the fourth quarter, the homebuilder earned $0.30 on $1.3 billion in revenue. The company's bottom line exceeded the Capital IQ consensus estimate by $0.01, while its revenue fell short of expectations. In addition, DHI reported a 61.0% increase in the value of its backlog. The account is currently valued at $1.7 billion, up from $1.0 billion during the same period last year. Shares of DR Horton slid 5.8% after trading higher at the start of the session.

Elsewhere, Beazer Homes (BZH 13.77, -2.87) slumped 17.3% after reporting a fourth quarter loss of $2.57 on $370.9 million in revenue. The company management commented on the quarter by saying, "Operationally, we generated significant growth in orders, closings and backlog, while seeing improving trends in gross margins. From a balance sheet perspective, we added liquidity, improved our book value, extended debt maturities and reduced interest expense. While our community count will likely decrease for much of the year, we are actively investing in a substantial number of new communities, which we expect to deliver closings starting in fiscal year 2014."

The Dow Jones Transportation Average outperformed the remaining industrials. The bellwether complex rose by 0.8% and 17 group components saw gains. Trucking stocks outperformed as Con-way (CNW 28.32, +0.62) and JB Hunt (JBHT 60.04, +1.38) settled higher by 2.2% and 2.4%, respectively. Railroads were also notably stronger. Kansas City Southern (KSU 77.31, +0.40) advanced 0.5% and Union Pacific (UNP 121.77, +1.52) gained 1.3%.

Tomorrow's economic data is limited to the October Treasury Budget, which will be released at 14:00 ET.DJ30 -0.23 NASDAQ -0.61 SP500 +0.15 NASDAQ Adv/Vol/Dec 1122/1.33 bln/1306 NYSE Adv/Vol/Dec 1419/291.9 mln/1549

3:30 pm : Commodities were mixed between the energy, metals and agriculture sectors today.

Dec crude oil was choppy today and traded in an approx. $1 range (~$85.40-86.40). The actual LoD in crude was at $85.33 and by the end of the day crude rose modestly higher from there, ending the day $0.47 higher at $85.56/barrel.

Dec natural gas basically gained steam in early morning trade and continued to extend its gains throughout the day. Dec nat gas ultimately rose as high as $3.59/MMBtu.

Gold pulled-back off its session high of $1738.00 and inched lower into negative territory. It brushed a session low of $1725.20 in early afternoon action but then trended higher for the remainder of floor trade. It managed to erase most of its loss and settled just 10 cents below the unchanged level. Silver followed suit as it fell off its pit session high of $32.67 and brushed a session low of $32.17. Buyers stepped in ahead of the session close and pushed prices back towards the breakeven level such that silver closed just 0.2% lower.

In the ag space, grains fell sharply, led by wheat. Dec corn ended the day 2.7% lower at $7.17/bushel, Dec wheat ended 3.3% lower at $8.58/bu and Jan soybeans finished 3.2% lower at $14.05/buDJ30 +6.68 NASDAQ -0.11 SP500 +0.58 NASDAQ Adv/Vol/Dec 1143/1131.3 mln/1260 NYSE Adv/Vol/Dec 1364/182 mln/1566

3:00 pm : The S&P 500 has slid to the middle of the day's trading range. The index now trades higher by 0.1%.

This week brings a notable slow-down in the number of companies which are yet to report their quarterly results. Following today's close, Jacobs Engineering (JEC 39.55, +0.55) is scheduled to reveal its earnings. The Capital IQ consensus expects the engineering company to report earnings of $0.79 on $2.90 billion in revenue.

Tomorrow morning, retailers will be in focus. Dick's Sporting Goods (DKS 48.90, -0.50) is expected to report earnings of $0.37 on $1.29 billion in revenue. Home Depot (HD 61.04, +0.08) is also scheduled to report. Expectations call for the home improvement store operator to announce earnings of $0.70 on revenue of $1.79 billion.

Other notable earnings before the bell will come from Michael Kors (KORS 51.00, +0.57), Saks (SKS 9.90, -0.15), and TJX (TJX 41.03, +0.30).DJ30 +12.52 NASDAQ +1.04 SP500 +1.34 NASDAQ Adv/Vol/Dec 1223/994.6 mln/1197 NYSE Adv/Vol/Dec 1418/159.1 mln/1504

2:30 pm : The S&P 500 is holding its recent levels as it trades higher by 0.3%.

The energy sector is trading in-line with the broader market. Within the space, select stocks are rebounding from last week's underperformance. Basic Energy Services (BAS 9.57, +0.37), Dril-Quip (DRQ 68.94, +2.40), and Nabors Industries (NBR 13.55, +0.42) are all up between 3.2% and 4.1%.

Following the re-election of President Obama, coal stocks have been under pressure. Today, coal producers are mixed. James River Coal (JRCC 2.43, -0.26) is a notable laggard as it trades lower by 9.7%. On the upside, Peabody Energy (BTU 26.55, +0.38) is adding 1.5%.DJ30 +29.01 NASDAQ +5.94 SP500 +3.33 NASDAQ Adv/Vol/Dec 1251/918.5 mln/1139 NYSE Adv/Vol/Dec 1464/146.8 mln/1454

2:00 pm : After marking fresh session highs, the S&P 500 trades higher by 0.3%.

Looking at today's M&A activity, Jefferies Group (JEF 15.98, +1.71) is higher by 12.0% after confirming plans to merge with Leucadia National (LUK 20.78, -1.02). Per the agreement, Jefferies stockholders will receive 0.81 of a share of LUK for each share of JEF owned. Following the transaction, Jefferies shareholders will hold 35.3% of Leucadia common stock.

In the materials sector, Titanium Metals (TIE 16.48, +4.90) is surging 42.4% after being acquired by Precision Castparts (PCP 180.38, +9.05) for $16.50 per share. The purchase price represents a 42.6% premium to TIE's Friday closing price, and the total transaction is valued at approximately $2.9 billion. Following the acquisition, Barclays raised its price target on Precision Castparts to $200 from $185.DJ30 +27.76 NASDAQ +6.20 SP500 +3.44 NASDAQ Adv/Vol/Dec 1236/845.5 mln/1159 NYSE Adv/Vol/Dec 1494/137.1 mln/1405

1:30 pm : The S&P 500 has risen to a fresh session high in a move which saw upticks across most sectors. Only utility, telecom, and health care stocks have shown little to no change during the move. Currently, the benchmark index trades higher by 0.3%.

The Dow Jones Transportation Average is outperforming the remaining industrials. The bellwether complex is higher by 1.2%, and all 20 transportation stocks are seeing gains. Trucking stocks are leading as Con-way (CNW 28.58, +0.88) and JB Hunt (JBHT 60.09, +1.43) trade higher by 3.2% and 2.4%, respectively.

Railroads are also notably stronger. Kansas City Southern (KSU 77.88, +0.97) is advancing 1.3% and Union Pacific (UNP 122.06, +1.81) is firmer by 1.5%.DJ30 +35.31 NASDAQ +10.94 SP500 +4.24 NASDAQ Adv/Vol/Dec 1290/771.8 mln/1094 NYSE Adv/Vol/Dec 1519/128.3 mln/1365

1:00 pm : Equities began the session on a slightly higher note. However, the gains did not hold past the first hour, and the major averages slipped into the red. After marking session lows in the 1,377 area, the S&P 500 has staged a rebound, and it currently trades higher by 0.1% amid thin volume. Note that the bond market is closed today in observance of Veterans Day.

Technology stocks are seeing notable weakness. The biggest tech component, Apple (AAPL 545.95, -1.11) is lower by 0.2% after being up as much as 1.0% in early trade. Other notable names are also trading lower. SanDisk (SNDK 40.63, -0.59), Seagate (STX 28.53, -0.53), and Western Digital (WDC 34.65, -0.45) are all down between 1.3% and 1.8%.

Semiconductor manufacturers are also under pressure. Rubicon Technology (RBCN 6.40, -0.26) is down 3.9%, and NVIDIA (NVDA 11.85, -0.33) trades lower by 2.7%. Also of note, 3D Systems (DDD 42.75, -3.25) is a notable laggard. Shares of the 3D printing company are down 7.1% as the stock gives back its gains from last week.

On the upside, Take-Two (TTWO 11.50, +0.47) is higher by 4.3% after activist investor, Carl Icahn, disclosed buying 918,911 shares worth approximately $10.2 million.

In the health care space, biotechnology names are leading the group higher following positive trial data. Celgene (CELG 75.60, +4.10) is surging 5.7% after its Phase III trial of Abraxane in the treatment of pancreatic cancer showed a statistically significant survival benefit.

Meanwhile, Gilead Sciences (GILD 72.77, +7.77) is spiking 12.0% after reporting a 100% sustained virologic response rate to an Interferon-free regimen of Sofosbuvir and Ribavirin in treatment of Hepatitis C patients.

Homebuilders are broadly weaker and the SPDR S&P Homebuilders ETF (XHB 25.56, -0.11) is lower by 0.4%. Earlier, DR Horton (DHI 20.01, -0.59) reported mixed quarterly results. During the fourth quarter, the homebuilder earned $0.30 on $1.3 billion in revenue. The company's bottom line exceeded the Capital IQ consensus estimate by $0.01, while its revenue fell short of expectations. In addition, DHI reported a 61.0% increase in the value of its backlog. The account is currently valued at $1.7 billion, up from $1.0 billion during the same period last year. Shares of DR Horton are down 2.9% after trading higher at the start of the session.

Elsewhere, Beazer Homes (BZH 14.24, -2.39) is slumping 14.4% after reporting a fourth quarter loss of $2.57 on $370.9 million in revenue. The company management commented on the quarter by saying, "Operationally, we generated significant growth in orders, closings and backlog, while seeing improving trends in gross margins. From a balance sheet perspective, we added liquidity, improved our book value, extended debt maturities and reduced interest expense. While our community count will likely decrease for much of the year, we are actively investing in a substantial number of new communities, which we expect to deliver closings starting in fiscal year 2014."

Other homebuilders are seeing weakness as well. Lennar (LEN 37.11, -1.00) and Standard Pacific (SPF 6.45, -0.21) are down 2.6% and 3.2%, respectively.DJ30 +10.48 NASDAQ +6.32 SP500 +1.64 NASDAQ Adv/Vol/Dec 1181/697.9 mln/1182 NYSE Adv/Vol/Dec 1405/119.1 mln/1472

12:30 pm : After testing its session low, the S&P 500 has regained two points. However, the index remains in the red and trades lower by 0.1%.

Homebuilders are broadly weaker and the SPDR S&P Homebuilders ETF (XHB 25.44, -0.22) is lower by 0.9%. Earlier, DR Horton (DHI 19.83, -0.77) reported mixed quarterly results. During the fourth quarter, the homebuilder earned $0.30 on $1.3 billion in revenue. The company's bottom line exceeded the Capital IQ consensus estimate by $0.01, while its revenue fell short of expectations. In addition, DHI reported a 61.0% increase in the value of its backlog. The account is currently valued at $1.7 billion, up from $1.0 billion during the same period last year. Shares of DR Horton are down 3.7% after trading higher at the start of the session.

Elsewhere, Beazer Homes (BZH 14.18, -2.45) is slumping 14.8% after reporting a fourth quarter loss of $2.57 on $370.9 million in revenue. The company management commented on the quarter by saying, "Operationally, we generated significant growth in orders, closings and backlog, while seeing improving trends in gross margins. From a balance sheet perspective, we added liquidity, improved our book value, extended debt maturities and reduced interest expense. While our community count will likely decrease for much of the year, we are actively investing in a substantial number of new communities, which we expect to deliver closings starting in fiscal year 2014."

Other homebuilders are seeing weakness as well. Lennar (LEN 36.85, -1.26) and Standard Pacific (SPF 6.41, -0.26) are down 3.3% and 3.9%, respectively.DJ30 -9.81 NASDAQ -2.08 SP500 -0.78 NASDAQ Adv/Vol/Dec 1063/627.9 mln/1281 NYSE Adv/Vol/Dec 1281/112.1 mln/1591

12:00 pm : The major averages are holding their recent levels, and the S&P 500 is off by 0.1%.

Technology stocks are seeing notable weakness. The biggest tech component, Apple (AAPL 540.81, -6.25) is lower by 1.1% after being up as much as 1.0% in early trade. Elsewhere in the space, notable tech names are seeing weakness. SanDisk (SNDK 40.23, -0.99), Seagate (STX 28.36, -0.70), and Western Digital (WDC 34.53, -0.58) are all down between 1.6% and 2.4%.

Semiconductor manufacturers are also seeing notable losses. Rubicon Technology (RBCN 6.35, -0.31) is down 4.7%, and NVIDIA (NVDA 11.88, -0.31) trades lower by 2.5%.

Also of note, 3D Systems (DDD 42.50, -3.50) is seeing notable weakness. Shares of the 3D printing company are down 7.5% as the stock gives back its gains from last week.

On the upside, Take-Two (TTWO 11.49, +0.46) is higher by 4.2% after activist investor, Carl Icahn, disclosed buying 918,911 shares worth approximately $10.2 million.DJ30 -23.04 NASDAQ -6.34 SP500 -1.98 NASDAQ Adv/Vol/Dec 1010/559.6 mln/1322 NYSE Adv/Vol/Dec 1271/105.2 mln/1593

11:30 am : The S&P 500 is hovering near its session low in the 1,377 area. The benchmark average is off by 0.1%.

Utility stocks are seeing the widest losses. The sector is off by 0.8% and gas utilities are weighing on the group. Atmos Energy (ATO 34.27, -0.65) and ONEOK (OKE 44.31, -0.61) are down 1.8% and 1.4%, respectively.

Electric utilities are also underperforming. Cleco (CNL 39.73, -0.65), Great Plains Energy (GXP 20.04, -0.27), and PPL (PPL 28.28, -0.40) are all down between 1.3% and 1.6%. Meanwhile, UIL Holdings (UIL 33.91, +0.10) is bucking the trend as it trades higher by 0.3%.DJ30 -21.35 NASDAQ -6.21 SP500 -1.59 NASDAQ Adv/Vol/Dec 1017/487.7 mln/1279 NYSE Adv/Vol/Dec 1275/96.7 mln/1555

11:00 am : Stocks have slipped from their early highs and the major averages are now in the red. The S&P 500 is off by 0.1%.

High-yielding telecom stocks have been under pressure during the past week. Today, the sector is the top performer. Within the space, Telephone & Data Systems (TDS 23.32, +0.75) is advancing 3.3% after Citigroup upgraded the stock to ‘buy' from ‘neutral.'

Elsewhere in telecommunications, AT&T (T 33.86, +0.31) is adding 0.9% after announcing the company will subsidize the Apple (AAPL 544.05, -3.01) iPad. Meanwhile, Sprint Nextel (S 5.61, +0.07) is also seeing relative strength as the stock trades higher by 1.2%.

On the downside, Inteliquent (IQNT 3.15, -0.35) is down 10.1% after Morgan Stanley downgraded the stock to ‘equal-weight' from ‘overweight.'DJ30 -22.31 NASDAQ -5.81 SP500 -1.88 NASDAQ Adv/Vol/Dec 1049/405.3 mln/1204 NYSE Adv/Vol/Dec 1253/88.4 mln/1548

10:30 am : Commodities are mixed this morning, while the dollar index is just slightly lower. Dec crude oil has been rather volatile and fell as low as $85.44/barrel earlier this morning. It has since rallied back near the unchanged line and is now +0.1% at $86.11/barrel.

Dec natural gas futures gained some steam in early morning action and hit a new session high of $3.54/MMBtu not long after the open. Nat gas is now +0.3% at $3.51/MMBtu.

Precious metals are mixed following a sell-off earlier where gold pulled back, but silver really took a hit. Dec silver is now -0.2% at $32.54/oz and Dec gold is +0.2% at $1734.30/oz. Dec copper is +0.2% at $3.45/lb.DJ30 +0.19 NASDAQ +3.69 SP500 +1.09 NASDAQ Adv/Vol/Dec 1122/330.8 mln/1048 NYSE Adv/Vol/Dec 1383/76.4 mln/1378

10:00 am : The S&P 500 is holding the bulk of its recent gains and the index trades higher by 0.2%.

Health care stocks are seeing notable gains in the early going. Biotechnology names within the sector are leading the group higher following positive trial data. Celgene (CELG 76.35, +4.85) is surging 6.7% after its Phase III trial of Abraxane in pancreatic cancer showed a statistically significant survival benefit.

Meanwhile, Gilead Sciences (GILD 72.37, +7.37) is spiking 11.4% after reporting a 100% sustained virologic response rate for an Interferon-free regimen of Sofosbuvir and Ribavirin in treatment of Hepatitis C patients. Other biotech names are also seeing strength. Alexion Pharmaceuticals (ALXN 93.14, +2.34) is higher by 2.5% and Regeneron Pharmaceuticals (REGN 143.77, +3.03) is up 2.2%.DJ30 +15.26 NASDAQ +11.52 SP500 +3.22 NASDAQ Adv/Vol/Dec 1232/177.9 mln/835 NYSE Adv/Vol/Dec 1477/58.2 mln/1213

09:45 am : Equities are maintaining their bullish pre-market bias. The S&P 500 is currently higher by 0.3%.

Looking at the early sector performance, health care and telecom stocks are seeing the biggest early gains. The two sectors are up in excess of 0.7%. On the downside, utilities and consumer staples are seeing relative weakness as the two trade in the red.DJ30 +7.79 NASDAQ +13.97 SP500 +3.69 NASDAQ Adv/Vol/Dec 1237/116.2 mln/754 NYSE Adv/Vol/Dec 1543/49.9 mln/1086

09:14 am : [BRIEFING.COM] S&P futures vs fair value: +1.70. Nasdaq futures vs fair value: +14.50. Heading into the open, equity futures remain higher, and the S&P 500 futures are adding 0.3%.

This morning was light on earnings, but DR Horton (DHI 21.30, +0.70) is rising by 3.4% after reporting mixed quarterly results. During the fourth quarter, the homebuilder earned $0.30 on $1.3 billion in revenue. The company's bottom line exceeded the Capital IQ consensus estimate by $0.01, while the revenue fell short of expectations. In addition, DHI reported a 61.0% increase in the value of its backlog. The account is currently valued at $1.7 billion, up from $1.0 billion during the same period last year.

Note that the bond market is closed in observance of Veterans Day.

08:59 am : [BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +14.30. U.S. equity futures continue to trade higher, and the S&P 500 futures are up 0.4%.

European markets are mixed after the Greek parliament approved its 2013 budget. This comes as the country struggles to raise the funds needed to avoid a EUR5 billion default this week. The nation will hold a debt auction on Tuesday, but Greek financials are expected to take down only EUR3.5 billion of the total. However, for the moment, European markets are endorsing the newly approved budget as uncertainty is briefly removed from investors' minds. It should also be noted that Eurozone finance ministers will meet today to discuss options in order to avoid a Greek default. In economic data, Germany's wholesale price index posted a 0.6% month-over-month decline, which was slightly worse than the expected decrease of 0.5%.

In the United Kingdom, the FTSE is adding 0.3% and financials are pacing the advance. Admiral Group is higher by 3.8% and Lloyds Banking Group is advancing 3.3%. On the downside, energy stocks are underperforming. AMEC and BG Group are both down near 1.0%.

In Germany, the DAX is higher by 0.3% and banks are also leading the way. Commerzbank and Allianz are seeing respective gains of 2.4% and 0.9%. Meanwhile, carmakers are under pressure. BMW is down 1.1% and Daimler is off by 0.4%.

France's CAC is lower by 0.3%. The index is underperforming the region as industrials weigh. Alstom, Lafarge, and Schneider Electric are all down between 1.2% and 1.7%. Among the advancers, advertiser Publicis Groupe is leading the way. The stock trades higher by 2.5% after reporting strong organic revenue growth.

Asian indices struggled for direction as regional data caused some uncertainty. China's trade balance data revealed an 11.6% year-over-year growth in exports. Meanwhile, a Bank of America analyst viewed this as proof that China has bottomed. The nation also posted what was perceived as disappointing New Yuan loans data which tempered gains. Elsewhere, Japan's third quarter GDP declined 0.9%, indicating another recession could be looming. Both Prime Minister Noda and Bank of Japan Governor Shirakawa stressed urgency and warned of continued monetary easing.

In Japan, the Nikkei closed lower by 0.9% as energy, financials, and communication stocks all closed down over 1% following the GDP contraction. Among the laggards was Yokohama Rubber, down 6.3%.

In Hong Kong, the Hang Seng closed higher by 0.2%. The index was led by gains in China RES Power (+2.8%) and Tencent Holdings (+1.7%).

China's Shanghai Composite gained 0.5%. Basic Materials (+1.1%) and Financials (+0.9%) both led the mainland higher.

08:28 am : [BRIEFING.COM] S&P futures vs fair value: +1.90. Nasdaq futures vs fair value: +13.80. Equity futures are off their pre-market highs, but the S&P 500 futures remain firmer by 0.3%.

Two biopharmaceutical companies are seeing pre-market gains following positive trial data. Celgene (CELG 77.31, +5.81) is surging 8.1% after its Phase III trial of Abraxane in pancreatic cancer showed a statistically significant survival benefit. This also follows a negative announcement from competitor, Clovis (CLVS 12.25, -9.24), who announced its experimental pancreatic cancer treatment did not yield the desired results. CLVS is down 43.0% on the news.

Elsewhere, Gilead Sciences (GILD 71.40, +6.35) is spiking 9.8% after reporting a 100% sustained virologic response rate for an Interferon-free regimen of Sofosbuvir and Ribavirin in treatment of Hepatitis C patients.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: +3.10. Nasdaq futures vs fair value: +15.30. U.S. equity futures are modestly higher amid mixed overseas trade.

Overnight, the global equity markets were relatively quiet. Asian indices struggled for direction as regional data caused some uncertainty. China's trade balance data revealed an 11.6% year-over-year growth in exports. Meanwhile, a Bank of America analyst viewed this as proof that China has bottomed. The nation also posted what was perceived as disappointing New Yuan loans data which tempered gains. Elsewhere, Japan's third quarter GDP declined 0.9%, indicating another recession could be looming. Both Prime Minister Noda and Bank of Japan Governor Shirakawa stressed urgency and warned of continued monetary easing. Looking at regional indices, China's Shanghai advanced 0.5%, Hong Kong's Hang Seng added 0.2%, and Japan's Nikkei underperformed with a loss of 0.9%.

In Europe, the Greek parliament approved its 2013 budget. This comes as the country struggles to raise the funds needed to avoid a EUR5 billion default this week. The nation will hold a debt auction on Tuesday, but Greek financials are expected to take down only EUR3.5 billion of the total. However, for the moment, European markets are endorsing the newly approved budget as uncertainty is being briefly removed from investors' minds. Nearing midday, France's CAC is adding 0.1% while Germany's DAX and UK's FTSE are both higher by 0.4%.

In U.S. corporate news, Jefferies Group (JEF 17.40, +3.13) is higher by 21.9% after confirming plans to merge with Leucadia National (LUK 22.33, +0.53). Per the agreement, Jefferies stockholders will receive 0.81 of a share of LUK for each share of JEF owned. Following the transaction, Jefferies shareholders will hold 35.3% of Leucadia common stock.

Titanium Metals (TIE 16.50, +4.93) is surging 42.6% after being acquired by Precision Castparts (PCP 171.33, 0.00) for $16.50 per share. The purchase price represents a 42.6% premium to TIE's Friday closing price, and the total transaction is valued at approximately $2.9 billion.

There is no economic data scheduled to be released today. Also note that the bond market will be closed in observance of Veterans Day.

06:22 am : Nikkei...8676.44...-81.20...-0.90%. Hang Seng...21430.30...+45.90...+0.20%.

06:22 am : FTSE...5779.00...+9.30...+0.20%. DAX...7182.08...+18.60...+0.30%.

06:20 am : S&P futures vs fair value: +0.50. Nasdaq futures vs fair value: +8.00.

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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