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 Post subject: January 8th Tuesday Trade Results - Profit $1180.00
PostPosted: Tue Jan 08, 2013 8:55 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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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 @ $1180.00 dollars or +11.80 points, EuroFX 6E futures @ $0.00 dollars or +0.0000 ticks and Light Crude Oil CL (WTI) futures @ $0.00 dollars or +0.00 points. Total Profit @ $1180.00 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=113&t=1408

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 and 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=199&t=1715

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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 in many trading instruments I monitor during the trading day. 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, intermarket analysis (e.g. Forex EurUsd, Gold GC futures, Oil CL & Brent futures, Eurex DAX futures, Emini ES futures, Emini TF futures, Treasury ZB futures) while using 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 trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone.

Stocks Falter Ahead Of Earnings Wave

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click on the above image to view today's price action of key markets

NEW YORK (CNNMoney)
Stocks lost ground for the second day in a row Tuesday, as investors braced for Corporate America to start reporting quarterly results.

The Dow Jones Industrial Average, S&P 500, and Nasdaq closed down between 0.2% and 0.4%, bouncing back from steeper declines ahead of the close.

Several traders said volume was light, which can lead to exaggerated moves.

Most of the day was simply a waiting game for investors. The first Dow component -- aluminum producer Alcoa (AA, Fortune 500) -- reported results after the closing bell. The company beat analysts' revenue forecasts and hit profit forecasts of 6 cents per share. Shares of Alcoa rose after hours following the earnings release.

Overall, fourth-quarter earnings for S&P 500 companies are expected to rise 3.3% from the fourth quarter of 2011, according to S&P Capital IQ.

Agriculture firm Monsanto (MON, Fortune 500) reported earnings ahead of the open that blew past estimates. It also raised its guidance for the year.

* Why Bill Ackman is targeting Herbalife

In other corporate news, shares of Yum Brands (YUM, Fortune 500) sank nearly 4%, after the restaurant operator said its fourth-quarter sales in China would be weaker than expected due to a controversy over food safety standards.

Netflix (NFLX) customers will have a few new options this year, thanks to a content deal inked with Warner Bros. Users will be able to stream complete seasons of several series produced by Warner Bros., which is owned by CNNMoney parent company Time Warner (TWX, Fortune 500). Netflix's shares closed down 2%.

Sears Holdings Corp. (SHLD, Fortune 500) was hit hard Tuesday, dropping more than 6%, after the company announced its CEO was stepping down. Sears chairman Edward Lampert, who's been trying to orchestrate a turnaround for the trouble retailer, will become the new CEO next month.

On the economic front, the Federal Reserve said that consumer credit continued to expand in November.

* Fear and Greed Index shows investors still greedy

European markets closed in mixed territory, following a report showing the unemployment rate topping a record high in the eurozone.

Asian markets ended lower. The Hang Seng and the Nikkei lost 0.9%, while the Shanghai Composite declined 0.4%.

In the bond market, the yield on the 10-year U.S. Treasury note slid to 1.87%. The yield rose near 2% last week as investors pulled money out of safer investments and moved into more risky assets.

Oil and gold prices edged higher. The U.S. dollar moved higher versus British pound, but fell against the Japanese yen and the euro.

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Market Update

4:20 pm : The S&P 500 ended lower by 0.3% after spending the duration of the session in the red. With little economic data of note and below-average volume, the key indices traded in range bound fashion ahead Alcoa's (AA 9.10, 0.00) earnings report, which will kick-off the fourth quarter earnings season.

Consumer discretionary stocks were in focus after Yum! Brands (YUM 65.04, -2.85) reaffirmed its full-year 2012 earnings guidance, but lowered the same-store sales estimates for its China division. As a result of the disappointing outlook, Yum! Brands slid 4.2% and other quick service restaurants traded lower as well. Darden Restaurants (DRI 45.31, -0.23) and Wendy's (WEN 4.74, -0.05) both shed near 0.7%.

Elsewhere in the discretionary sector, Signet Jewelers (SIG 58.70, +4.87) surged 9.1% after the company guided its fourth quarter earnings near the high end of its prior range. In addition, Signet reported a 3.3% increase in holiday sales. Other high-end retailers saw strength as well. Coach (COH 57.33, +1.70) and Zale (ZLC 4.26, +0.08) settled higher by 3.1% and 1.9% respectively.

Also of note, GameStop (GME 23.19, -1.56) fell 6.3% after the company reported disappointing holiday sales. The company expects its fourth quarter earnings per share to be at the low end of its current guidance range. Video game publishers Electronic Arts (EA 13.77, -0.68) and Take-Two Interactive (TTWO 11.78, -0.36) were pressured by the news, and ended lower by 4.7% and 3.1% respectively.

The materials sector advanced as the space resisted the broad market pressure. The sector was supported by Monsanto (MON 98.50, +2.56), which reported upbeat quarterly result this morning. During the first quarter, the chemical producer earned $0.62, which was well ahead of the $0.26 expected by the Capital IQ consensus. In addition, Monsanto's revenue of $2.94 billion was also ahead of expectations.

The Dow Jones Transportation Average slipped 0.4%. Airlines have shown notable strength since the start of December, but major carriers saw mixed performance after Deutsche Bank changed its rating on two carriers. Southwest Airlines (LUV 11.03, +0.12) was a bright spot, gaining 1.1% after being upgraded to ‘Buy' from ‘Hold.' On the downside, JetBlue Airways (JBLU 5.94, -0.03) shed 0.5% after the stock was downgraded to ‘Hold' from ‘Buy.'

Additionally, afternoon reports have indicated an international Japan Airlines flight was forced to return to its gate at Boston Logan International Airport due to a fuel leak. This marks the second time in two days that a Boeing (BA 74.13, -2.00) Dreamliner jet has suffered structural issues. As a result, Boeing lost 2.6%, and settled near its session low.

The telecom sector was the biggest laggard and the iShares Dow Jones US Telecom (IYZ 24.55, -0.38) lost 1.5%. Major carriers AT&T (T 34.35, -0.59) and Verizon Communications (VZ 43.10, -1.07) saw respective losses of 1.7% and 2.4%. The sector underperformed notably despite AT&T reporting having sold over 10 million smartphones during the fourth quarter of 2012. In addition, earlier reports have suggested Verizon Communications may purchase Vodafone's stake in Verizon Wireless. Shares of Vodafone, listed on the FTSE, gained 1.7% in response to the buyout speculation.

According to the Federal Reserve, consumer credit increased by $16 billion in November. This follows the prior month's $14.2 billion increase, and is higher than the $10.6 billion that had been broadly expected among economists polled by Briefing.com.

In tomorrow's economic data, the weekly MBA Mortgage Index will be reported at 7:00 ET.

The U.S. Treasury will reopen $21 billion in 10-yr notes.DJ30 -55.44 NASDAQ -7.00 SP500 -4.74 NASDAQ Adv/Vol/Dec 1161/1.67 bln/1307 NYSE Adv/Vol/Dec 1483/691.6 mln/1500

3:30 pm : Feb crude oil fell off its pit session high of $93.74 per barrel into negative territory ahead of tomorrow's inventory data. A stronger dollar index also put pressure on prices. Despite touching a session low of $92.67 per barrel in morning action, the energy component managed to erase losses and close 0.1% higher at $93.21 per barrel.

Feb natural gas extended yesterday's losses on forecasts of warmer than average weather. It briefly poked into positive territory and brushed a session high of $3.27 per MMBtu in early afternoon action. However, it quickly retreated back to its session low of $3.20 per MMBrtu and eventually closed at $3.22 per MMBtu, or 1.5% lower.

Feb gold trended higher during today's floor trade despite the climb by the dollar index. The yellow metal lifted off its session low of $1651.00 per ounce and traded as high as $1662.70 per ounce. It eventually booked a gain of 1.0% as it closed pit trade at $1662.20 per ounce.

Mar silver rose $0.40 to $30.48/ounceSilver retreated from its session high of $30.59 per ounce and dipped to a session low of $30.18 per ounce in mid-morning floor action. However, momentum picked back up in afternoon action, and silver closed at $30.48 per ounce with a solid 1.3% gain.DJ30 -48.31 NASDAQ -5.64 SP500 -4.42 NASDAQ Adv/Vol/Dec 1133/1345.7 mln/1303 NYSE Adv/Vol/Dec 1423/433 mln/1545

3:00 pm : The S&P 500 is off by 0.5% as trade enters the final hour.

According to the Federal Reserve, consumer credit increased by $16 billion in November. This follows the prior month's $14.2 billion increase, and is higher than the $10.6 billion that had been broadly expected among economists polled by Briefing.com.DJ30 -63.98 NASDAQ -10.41 SP500 -6.21 NASDAQ Adv/Vol/Dec 1075/1.22 bln/1364 NYSE Adv/Vol/Dec 1311/392.5 mln/1654

2:30 pm : The S&P 500 is off by 0.5% as quiet trade continues.

The fourth quarter earnings season will begin after today's closing bell when Alcoa (AA 9.16, +0.06) reports the results of its operations. The Capital IQ consensus expects the aluminum producer to report earnings of $0.06 on revenue of $5.61 billion.

In addition, Apollo Group (APOL 20.55, -0.95) will also reveal its quarterly results this evening. The for-profit education company is expected to reveal a first quarter bottom line of $0.90, while its revenue is expected to reach $1.03 billion.

Tomorrow morning, look for Constellation Brands (STZ 35.75, -0.66) and Shaw Communications (SJR 22.75, -0.22) to report.DJ30 -62.02 NASDAQ -9.06 SP500 -6.02 NASDAQ Adv/Vol/Dec 1032/1.12 bln/1383 NYSE Adv/Vol/Dec 1268/360.4 mln/1677

1:55 pm : Equities are holding their recent levels, and the S&P 500 is lower by 0.5%.

The materials sector is seeing little change as the space resists the broad market pressure. The sector is being supported by Monsanto (MON 98.51, +2.57), which reported upbeat quarterly result this morning. The chemical producer revealed first quarter earnings of $0.62, which was well ahead of the $0.26 expected by the Capital IQ consensus. In addition, Monsanto's revenue of $2.94 billion was also ahead of expectations.

Elsewhere, paper producers are outperforming and Louisiana-Pacific (LPX 20.78, +0.47) is the top gainer, up 2.4%.DJ30 -69.31 NASDAQ -11.29 SP500 -6.70 NASDAQ Adv/Vol/Dec 1022/1.03 bln/1390 NYSE Adv/Vol/Dec 1269/333.3 mln/1675

1:30 pm : Quiet afternoon trade continues, and the S&P 500 is down 0.5%.

The Dow Jones Transportation Average is shedding 0.8%. Airlines have shown notable strength since the start of December, but major carriers are seeing mixed performance today. Southwest Airlines (LUV 11.04, +0.13) is a bright spot, trading higher by 1.2% after Deutsche Bank upgraded the stock to ‘Buy' from ‘Hold.'

Elsewhere, marine shipper Kirby (KEX 62.45, -1.54) is slumping 2.4% after Stifel Nicolaus downgraded the stock to ‘Hold.' Peer Matson (MATX 26.19, +0.34) is rising by 1.3%.

Also of note, recent reports have indicated an international Japan Airlines flight was forced to return to the gate at the Boston airport due to a fuel leak. This marks the second time in two days that a Boeing (BA 73.80, -2.33) Dreamliner jet has suffered structural issues. As a result, Boeing is off by 3.1% as it trades near its session low.DJ30 -71.76 NASDAQ -12.12 SP500 -6.81 NASDAQ Adv/Vol/Dec 971/965.4 mln/1430 NYSE Adv/Vol/Dec 1222/310.3 mln/1704

1:00 pm : Equities began the day on a cautious note. After the lower open, the S&P 500 spent the first two hours of the session in a steady slide to its session low in the 1451 area. The benchmark index has risen slightly off the early lows, but the average remains lower by 0.6% at midday.

After yesterday's close, Yum! Brands (YUM 64.69, -3.20) reaffirmed its full-year 2012 earnings guidance, but lowered the same-store sales estimates for its China division. As a result of the disappointing outlook update, YUM is slipping 4.7% and other quick service restaurants are trading lower as well. McDonald's (MCD 90.30, -0.61) and Darden Restaurants (DRI 45.12, -0.41) are both down near 0.8%.

Elsewhere in the discretionary sector, Signet Jewelers (SIG 58.68, +4.85) is surging 9.0% after the company guided its fourth quarter earnings near the high end of the prior range. In addition, Signet reported a 3.3% increase in holiday sales. Other high-end retailers are seeing strength as well. Coach (COH 57.10, +1.47) and Zale (ZLC 4.28, +0.10) are up 2.6% and 2.4% respectively.

Also of note, GameStop (GME 23.34, -1.41) is down 5.7% after the company reported disappointing holiday sales. Due to the worse-than-expected results, the company expects its fourth quarter earnings per share to be at the low end of its current guidance range. Video game publishers Electronic Arts (EA 13.90, -0.55) and Take-Two Interactive (TTWO 11.93, -0.23) are down 3.8% and 1.9% respectively.

Telecom stocks are among notable underperformers as major carriers AT&T (T 34.54, -0.40), Sprint Nextel (S 5.88, -0.08), and Verizon Communications (VZ 43.39, -0.78) all see losses between 1.2% and 1.8%. The sector-wide weakness comes despite AT&T reporting having sold over 10 million smartphones during the fourth quarter of 2012.

In addition, earlier reports have suggested Verizon Communications may purchase Vodafone's stake in Verizon Wireless. Shares of Vodafone, listed on the FTSE, gained 1.7% in response to the buyout speculation.

Looking at notable quarterly results, Monsanto (MON 98.30, +2.36) is rising by 2.5%. The chemical company reported first quarter earnings of $0.62, which was well ahead of the $0.36 expected by the Capital IQ consensus. Meanwhile, the company's revenue of $2.94 billion also beat expectations.

European markets ended the session on a mixed note despite intraday strength. Germany's DAX lost 0.5%, the United Kingdom's FTSE shed 0.2%, and France's CAC finished flat.

In Germany, automakers were among the biggest laggards after disappointing November export data. Volkswagen fell 3.1% and Daimler lost 1.0%. On the upside, Beiersdorf gained 2.7% after Nomura raised its price target for the manufacturer of consumer goods.

In the United Kingdom, TUI Travel lost 3.4% after Morgan Stanley downgraded the stock to ‘Equal Weight.' Peer Whitbread slid 2.0%. On the upside, drug maker Shire gained 2.6%.

In France, financials outperformed. BNP Paribas gained 1.1% and Societe Generale advanced 3.2%. Technip lost 4.0% and was among the biggest laggards after the stock was downgraded by CA Cheuvreux to ‘Underperform.'

The Federal Reserve will release November consumer credit data at 15:00 ET.DJ30 -85.95 NASDAQ -19.59 SP500 -8.88 NASDAQ Adv/Vol/Dec 918/895.1 mln/1466 NYSE Adv/Vol/Dec 1144/287.8 mln/1779

12:30 pm : The major averages are holding their recent levels, and the S&P 500 is off by 0.5%.

European markets ended the session on a mixed note despite intraday strength. Germany's DAX lost 0.5%, the United Kingdom's FTSE shed 0.2%, and France's CAC finished flat.

In Germany, automakers were among the biggest laggards after disappointing November export data. Volkswagen fell 3.1% and Daimler lost 1.0%. On the upside, Beiersdorf gained 2.7% after Nomura raised its price target for the manufacturer of consumer goods.

In the United Kingdom, TUI Travel lost 3.4% after Morgan Stanley downgraded the stock to ‘Equal Weight.' Peer Whitbread slid 2.0%. On the upside, drug maker Shire gained 2.6%.

In France, financials outperformed. BNP Paribas gained 1.1% and Societe Generale advanced 3.2%. Technip lost 4.0% and was among the biggest laggards after the stock was downgraded by CA Cheuvreux to ‘Underperform.'DJ30 -71.03 NASDAQ -17.08 SP500 -7.80 NASDAQ Adv/Vol/Dec 918/811.9 mln/1454 NYSE Adv/Vol/Dec 1195/262.5 mln/1717

12:00 pm : The S&P 500 continues to trade near its recent levels as the index trades lower by 0.5%.

Financial stocks began the year on a strong note, and the SPDR Financial Select Sector ETF (XLF 16.91, -0.10) climbed to a fresh 52-week high. Today, the financial sector ETF proxy is lower by 0.6% as it trades in-line with the broader market. Among the majors, Bank of America (BAC 11.98, -0.12) is the biggest laggard, down 1.0%. The weakness comes despite positive comments from RBC Capital Markets. The investment bank raised its target for BAC shares to $14 after the bank sold its mortgage servicing rights and agreed to a settlement with Fannie Mae.DJ30 -65.06 NASDAQ -16.42 SP500 -7.44 NASDAQ Adv/Vol/Dec 883/735.2 mln/1474 NYSE Adv/Vol/Dec 1177/239.8 mln/1708

11:30 am : The major averages have slid to fresh lows and the S&P 500 is down 0.7%.

After yesterday's close, Yum! Brands (YUM 64.88, -3.01) reaffirmed its full-year 2012 earnings guidance, but lowered the same-store sales estimates for its China division. As a result of the disappointing outlook update, YUM is slipping 4.4% and other quick service restaurants are trading lower as well. McDonald's (MCD 90.03, -0.88) and Darden Restaurants (DRI 45.08, -0.46) are both down 1.0%.

Elsewhere in the discretionary sector, Signet Jewelers (SIG 58.45, +4.62) is surging 8.5% after the company guided its fourth quarter earnings near the high end of the prior range. In addition, Signet reported a 3.3% increase in holiday sales. Other high-end retailers are seeing strength as well. Coach (COH 56.82, +1.19) and Zale (ZLC 4.28, +0.11) are up 2.2% and 2.5% respectively.

Also of note, GameStop (GME 23.22, -1.54) is down 6.2% after the company reported disappointing holiday sales. Due to the worse-than-expected results, the company expects its fourth quarter earnings per share to be at the low end of its current guidance range. Video game publishers Electronic Arts (EA 13.97, -0.48) and Take-Two Interactive (TTWO 11.87, -0.29) are down 3.4% and 2.3% respectively.DJ30 -74.67 NASDAQ -20.38 SP500 -9.18 NASDAQ Adv/Vol/Dec 804/639.7 mln/1526 NYSE Adv/Vol/Dec 1042/214.2 mln/1817

10:55 am : The major averages are hovering near their respective lows and the S&P 500 is off by 0.6%.

The health care sector is the lone advancer in the S&P 500, and the SPDR Health Care Select Sector ETF (XLV 41.07, +0.04) is adding 0.1%. Note that a number of sector components are presenting at the JPMorgan Healthcare Conference in San Francisco. The three-day event is set to conclude tomorrow.

A handful of notable sector components are moving after issuing guidance updates, Endo Health (ENDP 26.40, +0.44) is adding 1.7% after the company reaffirmed its full-year 2013 guidance at the San Francisco conference.

On the downside, Kindred Healthcare (KND 10.65, -0.62) is sliding 5.5% after the company cut its earnings guidance below consensus. The change in earnings expectations comes as a result of Medicare reimbursement charges included in the ‘Fiscal Cliff' deal.DJ30 -64.30 NASDAQ -15.75 SP500 -8.69 NASDAQ Adv/Vol/Dec 845/506.4 mln/1443 NYSE Adv/Vol/Dec 1041/176.3 mln/1801

10:30 am : Commodities are mixed as the dollar index remains in positive territory. Earlier this morning, the dollar index surged into positive territory, which weighed on commodities such as oil, gold and silver.

Feb crude oil rose as high as $93.80, but has since pulled back off that HoD and is now back in the red. Crude is now -0.4% at $92.79/barrel.

Natural gas has been in the red all morning. The energy component fell as low as $3.21/MMBtu and is now -1.2% at $3.23/MMBtu.

Precious metals are trading higher this morning despite the strength in the dollar index. Gold and silver did sell off earlier this morning when the dollar surged higher, but both remains in positive territory. In current action, Feb gold is +0.6% at $1656.50/oz and Mar silver is +0.8% at $30.34/oz.DJ30 -51.99 NASDAQ -10.43 SP500 -7.07 NASDAQ Adv/Vol/Dec 882/404.5 mln/1363 NYSE Adv/Vol/Dec 1091/150 mln/1728

10:00 am : The S&P 500 is off by 0.3% after slipping to a fresh session low.

Telecom stocks are among notable early underperformers as major carriers AT&T (T 34.41, -0.53), Sprint Nextel (S 5.84, -0.12), and Verizon Communications (VZ 43.53, -0.63) all see losses between 1.4% and 2.0%.

Earlier reports have suggested Verizon Communications may purchase Vodafone's stake in Verizon Wireless. Shares of Vodafone, listed on the FTSE, are adding over 2.0% in response to the buyout speculation.

Also of note, AT&T reported that it has sold over 10 million smartphones during the fourth quarter of 2012.DJ30 -42.87 NASDAQ -6.36 SP500 -4.77 NASDAQ Adv/Vol/Dec 951/235.1 mln/1227 NYSE Adv/Vol/Dec 1171/100.8 mln/1546

09:45 am : The S&P 500 is off by 0.1% as the benchmark index trades near its opening level.

Looking at notable early movers, Monsanto (MON 99.25, +3.31) is rising by 3.4%. The chemical company reported fourth quarter earnings of $0.62, which was well ahead of the $0.36 expected by the Capital IQ consensus. Meanwhile, the company's revenue of $2.94 billion also beat expectations.

Elsewhere, Yum! Brands (YUM 64.90, -2.99) is down 4.3%. Following yesterday's close, the company reaffirmed its full-year 2012 earnings guidance, but lowered the same-store sales estimates for its China division.DJ30 -22.00 NASDAQ +2.48 SP500 -2.08 NASDAQ Adv/Vol/Dec 1085/135.1 mln/1000 NYSE Adv/Vol/Dec 1287/74.5 mln/1370

09:14 am : [BRIEFING.COM] S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: -2.50. Heading into the open, equity futures are pointing to a lower start. The S&P 500 futures are shedding 0.2%.

Looking at pre-market movers of note, GameStop (GME 22.20, -2.55) is down 10.3% after the company reported disappointing holiday sales. Due to the worse-than-expected results, the company expects its fourth quarter earnings per share to be at the low end of its current guidance range. Video game publishers Electronic Arts (EA 14.32, -0.13) and Take-Two Interactive (TTWO 12.11, -0.05) are down 0.9% and 0.4% respectively.

Elsewhere, Boeing (BA 75.00, -1.13) is slipping 1.5% after BB&T Capital Markets downgraded the stock to ‘Hold' from ‘Buy.'

Today's economic data will be limited to November consumer credit, which is scheduled for a 15:00 ET release.

08:56 am : [BRIEFING.COM] S&P futures vs fair value: -3.70. Nasdaq futures vs fair value: -2.50.

U.S. equity futures continue to trade lower, and the S&P 500 futures are off by 0.2%.

The major Asian bourses ended mostly lower as markets took their cue from yesterday's down day on Wall Street. Japan's Nikkei (-0.9%) underperformed for a second straight session as the strengthening of the yen weighed. Japanese Finance Minister Taro Aso made headlines overnight when he suggested the country would use its Fx reserves to purchase European Stability Mechanism bonds in an effort to weaken the yen. Vietnam's Ho Chi Minh Index (+3.0%) was a notable outperformer as participants speculated the government would take action to help companies deal with a slowing economy and the threat of inflation. Data from the region was light as Australia's trade deficit widened to AUD2.64 billion (AUD2.21 billion expected, AUD2.44 billion previous).
In Japan, the Nikkei slipped 0.9% as traders continued to book profits in export names that had seen strong gains thanks to the weak yen. Robotics maker Fanuc gave up 1.3% and Nissan Motor shed 1.1%. Elsewhere, electronics maker Sharp surged 3.9% after making positive comments regarding its operating profit for the October to December quarter.
Hong Kong's Hang Seng shed 0.9% as insurers saw heavy selling. Ping An fell 4.0% after its attempt to purchase 15.5% stake in Thai Conglomerate Charoen Pokphand Group was blocked. China Life lost 3.3% in sympathy.
In China, the Shanghai Composite settled -0.4% as financials pulled back. Industrial & Commercial Bank of China lost 2.0% and Shanghai Pudong Development shed 1.9%.

European markets are seeing modest gains. Looking at notable economic data, the Eurozone unemployment rate was reported at 11.8%, in-line with expectations. Eurozone retail sales rose by 0.1% month-over-month, while the general consensus expected an uptick of 0.3%. Eurozone consumer confidence came in at -27.0, in-line with the forecast. Meanwhile, the region's business and confidence survey registered a reading of 87.0, which was slightly ahead of expectations. Germany reported a 1.8% month-over-month decrease in factory orders, while the reading was expected to decline by 1.4%. Regional news was limited, but Greek Kathimerini reported that the country's top four banks are considering requesting additional recapitalization funds. As mentioned on January 3, the country's bad loans grew to 24% of all loans during 2012. The unexpected jump created a capital shortfall which may push the total recapitalization cost to more than EUR30 billion. In response to the report, the Hellenic Financial Stability Fund denied claims that Greek banks will need further aid.
Germany's DAX is flat. Financials are outperforming for the second consecutive day. Commerzbank and Deutsche Bank are both adding near 2.5%. On the downside, automakers are seeing relative weakness. BMW is down 0.9%, and Volkswagen is shedding 0.3%.
The United Kingdom's FTSE is higher by 0.2%. Vodafone is higher by 2.6% after reports indicated Verizon Communications may purchase Vodafone's stake in Verizon Wireless. Also of note, Anglo American is advancing 2.9% after the company appointed a new chief executive officer. TUI Travel is among the weakest performers. The travel service stock is shedding 3.8% after Morgan Stanley downgraded the stock to ‘Equal Weight.' Peer Whitbread is slipping 1.6%.
In France, the CAC is firmer by 0.6% and financials are pacing the advance. Credit Agricole and Societe Generale are both up near 4.0%. Energy producer Technip is lower by 3.6% after CA Cheuvreux downgraded the stock to ‘Underperform.'

08:25 am : S&P futures vs fair value: -2.60. Nasdaq futures vs fair value: -4.30. Equity futures have slipped off their pre-market highs, and the S&P 500 futures are off by 0.1%.

Looking at this morning's earnings, Monsanto (MON 100.50, +4.56) is rising by 4.8%. The chemical company reported first quarter earnings of $0.62, which was well ahead of the $0.36 expected by the Capital IQ consensus. Meanwhile, the company's revenue of $2.94 billion also beat expectations. Peer Potash (POT 42.17, +0.49) is adding 1.2%.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: -2.80. Nasdaq futures vs fair value: -3.50.

U.S. equity futures are modestly lower amid mixed overseas trade.

Taking a look at overseas developments:

Asian indices finished lower. Japan's Nikkei and Hong Kong's Hang Seng lost 0.9% each while China's Shanghai Composite slipped 0.4%.
Regional economic data was limited:
Australia reported a trade deficit of AUD2.64 billion, while a deficit of AUD2.30 billion was broadly expected.
China's National Bureau of Statistic said iron ore inventory rose to 74.74 million metric tons during the first week of the year. The increase represented the first weekly uptick in nearly three months.
In news:
Japan's Finance Minister Taro Aso said the country will purchase European Stability Mechanism bonds using foreign exchange reserves.

European markets are seeing gains as trade nears midday. Germany's DAX is adding 0.1%, The United Kingdom's FTSE is higher by 0.2%, and France's CAC is rising by 0.6%.
Several economic data points were released
Eurozone unemployment rate was reported at 11.8%, in-line with expectations.
Italy reported a monthly unemployment rate of 11.1%, slightly better-than-feared.
Eurozone retail sales rose by 0.1% month-over-month, while the general consensus expected an uptick of 0.3%.
Eurozone consumer confidence came in at -27.0, in-line with the forecast. Meanwhile, the region's business and confidence survey registered a reading of 87.0, which was slightly ahead of expectations.
Germany reported a 1.8% month-over-month decrease in factory orders, while the reading was expected to decline by 1.4%.
In news:
Greek Kathimerini reported that the country's top four banks are considering requesting additional recapitalization funds. As mentioned on January 3, the country's bad loans grew to 24% of all loans during 2012. The unexpected jump creates a capital shortfall which may push the total recapitalization cost to more than EUR30 billion.

In U.S. corporate news:

Yum! Brands (YUM 64.85, -3.04) is sliding 4.5%. Following yesterday's close, the company reaffirmed its full-year 2012 earnings guidance, but lowered the same-store sales estimate for its China division.
Halliburton (HAL 36.10, -0.55) is lower by 1.5% after JP Morgan Chase downgraded the stock to ‘Neutral' from ‘Overweight.'

November consumer credit will be the day's lone economic data point. The report will be released at 15:00 ET.

The U.S. Treasury will auction off $32 billion in 3-yr notes.

06:30 am : [BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -3.00.

06:30 am : Nikkei...10508.06...-91.00...-0.90%. Hang Seng...23111.19...-218.60...-0.90%.

06:30 am : FTSE...6072.70...+8.10...+0.10%. DAX...7737.28...+4.60...+0.10%.

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 Image@ http://stocktwits.com/wrbtrader

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