TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 5:52 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: January 14th Monday Trade Results - Profit $240
PostPosted: Tue Jan 15, 2013 11:18 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

Attachment:
011413-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+240.00.png
011413-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+240.00.png [ 30.6 KiB | Viewed 280 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ ($4.20) dollars or -4.20 points, EuroFX 6E futures @ $0.00 dollars or +0.0000 ticks and Light Crude Oil CL (WTI) futures @ $660.00 dollars or +0.66 points. Total Profit @ $240.00 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 on the Freenode IRC network (chat room no longer located on the Othernet IRC network). 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=1414

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

-----------------------------

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.

Tech In Focus As Apple Drags, Dell Rallies

Attachment:
011413-Key-Price-Action-Markets.png
011413-Key-Price-Action-Markets.png [ 555.77 KiB | Viewed 324 times ]

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

NEW YORK (CNNMoney)
The technology sector was in focus Monday, as shares of Apple declined and Dell's stock surged.

Apple (AAPL, Fortune 500), which briefly dipped below $500 following reports that the company cut orders for iPhone 5 components due to weak demand, was among the biggest losers in Nasdaq.

Apple's 3.6% decline weighed on the tech-heavy index in earlier trading, but a late-afternoon rally in shares of Dell trimmed some of those losses. Dell (DELL, Fortune 500) climbed nearly 13% following a Bloomberg report that the PC maker was in talks to go private.

The Nasdaq finished down just 0.3%. Earlier, it had fallen nearly 0.7%.

Fellow PC maker Hewlett-Packard (HPQ, Fortune 500) also rose sharply on news that it had dethroned Lenovo (LNVGF) as the top maker of personal computers. The 4.9% rise in HP's stock helped the Dow Jones industrial average post modest gains. HP shares were also upgraded by an analyst at JPMorgan.

But the broader U.S. market was little changed as investors gear up for a slew of corporate earnings coming this week. The S&P 500 lost 1 point.

Goldman Sachs (GS, Fortune 500) and JPMorgan Chase (JPM, Fortune 500) are due to report their results Wednesday, while Intel (INTC, Fortune 500), Bank of America (BAC, Fortune 500) and General Electric (GE, Fortune 500) are up later in the week.

S&P 500 companies are expected to report overall earnings growth of 2.4% for the last three months of 2012, according to FactSet Research, and financial companies are expected to lead the way with earnings growth of more than 15%. In fact, excluding the financial sector, earnings growth for S&P 500 companies is expected to be just 0.2%.

@ Will the bank stock rally last?

In other corporate news, United Parcel Service Inc (UPS, Fortune 500) scrapped plans for a $6.8 billion merger with TNT Express NV (TNTEY), a smaller Dutch package delivery company. UPS blamed the European Commission for ruining the deal, saying the its antitrust regulator wouldn't allow it.

Swiss watch maker Swatch is buying Hollywood's go-to jeweler, Harry Winston. Shares of the exclusive jeweler's parent company, Harry Winston Diamond Corp. (HWD), rose 4%, even though the deal won't include its gemstone mining operations.

Shares of Herbalife (HLF) also rose sharply. Last week, Third Point, the hedge fund founded by Dan Loeb, said it had taken an 8% stake in the nutritional supplement firm. The company has been in the spotlight following accusations by another hedge fund manager, Pershing Square's Bill Ackman, who has called the company "a pyramid scheme."

Flowers Foods (FLO) shares rose almost 10% after the company announced an offer to buy Wonder, Nature's Pride and three other bread brands from bankrupt Hostess for $360 million. In a separate transaction, Flowers said it would also buy the Beefsteak brand of rye bread for $30 million.

JPMorgan shares fell in after-hours trading following the news that the Federal Reserve and Office of the Comptroller of the Currency issued two orders to the bank in response to the London Whale-related loss last year. The regulators are requiring JPMorgan to take corrective action to strengthen its risk management program and finance and internal audit functions, with emphasis on its chief investment office. JPMorgan was also ordered to improve its oversight of money laundering.

Also following the closing bell, Fed chairman Ben Bernanke spoke and took public questions at the University of Michigan.

@ Fear & Greed Index steeped in extreme greed

European markets stocks finished mixed, with the FTSE 100 ending in the red and the Germany's DAX and France's CAC 40 rising 0.2%.

Asian markets ended the session higher. The Shanghai Composite added 3.1% after a government official hinted that foreign investment in China's capital markets could be allowed to expand dramatically. Meanwhile, the Hang Seng added 0.6% while Japan's Nikkei was closed for a holiday.

@ Yen plunges as Japan gambles for growth

The dollar fell against the euro, but gained ground versus the British pound and the Japanese yen

Oil prices and gold prices rose slightly.

The price on the 10-year Treasury note rose slightly, pushing the yield down to 1.87% from 1.88% late Friday.

Image


Market Update

4:15 pm : Today's session began on a lower note after pre-market weakness in Apple (AAPL 501.75, -18.55) weighed on the tech-heavy Nasdaq. Meanwhile, the S&P 500 marked its session low in the 1465 area an hour into the session. The benchmark index then reversed and spent the remainder of the session climbing back near its flat line before finishing with a slim loss.

Apple lost 3.6% after being down as much as 4.5% during pre-market trade. The underperformance followed reports from the Nikkei and the Wall Street Journal, which indicated the largest tech company has cut its orders for iPhone 5 parts due to sluggish demand. The early selling pushed the stock below $500 for the first time in eleven months. A handful of Apple suppliers were also pressured by the news as Qualcomm (QCOM 64.24, -0.66) and Cirrus Logic (CRUS 28.62, -2.96) lost 1.0% and 9.4% respectively. Note that several analysts have come out in defense of Apple saying the story is not a recent development.

Among other smartphone manufacturers, Research In Motion (RIMM 14.95, +1.39) remained in the spotlight. On Friday, the stock surged over 15.0% after photos of the new Blackberry 10 handset became available on the internet. Today, Research In Motion settled higher by 10.3%, which puts it 27.0% above Friday's opening price.

Telecom stocks lagged the broader market after morning reports hinted at slowing Apple iPhone demand. The three major carriers which offer the device on their networks traded lower in response to the developments. AT&T (T 34.02, -0.25), Sprint Nextel (S 5.69, -0.23), and Verizon Communications (VZ 42.59, -0.71) saw respective losses of 0.7%, 3.9%, and 1.6%. Note that UBS downgraded Sprint and Verizon to ‘Neutral.' In addition, JPMorgan Chase also downgraded Sprint to ‘Neutral' from ‘Overweight.'

Dell (DELL 12.29, +1.41) was on the move today after Bloomberg TV reported the PC maker is in talks with private equity regarding a potential buyout. Dell surged 13.0% on the news, and several related names moved higher as well. Hewlett-Packard (HPQ 16.95, +0.79) and Seagate (STX 33.97, +0.68) saw respective gains of 4.9% and 2.0%.

Discretionary stocks showed relative weakness in early trade, but the sector settled with slim gains. Amazon.com (AMZN 272.73, +4.79) was a notable advancer as the online retailer hit a fresh all-time high of $274.26.

Harry Winston Diamond (HWD 15.08, +0.62) rose by 4.3% after the company agreed to sell its luxury brand diamond jewelry and timepiece division to the Swatch Group for $750 million. In addition, Swatch will assume up to $250 million of pro-forma net debt.

V.F. Corporation (VFC 153.88, +4.88) advanced 3.3% after the company confirmed it has submitted a bid to acquire Billabong International for AUD1.10 per share.

Financials underperformed and the SPDR Financial Select Sector ETF (XLF 17.06, -0.05) slipped 0.3%. The financial sector saw notable gains in recent weeks, but last Friday's earnings report from Wells Fargo (WFC 34.77, -0.33) failed to please investors. Though the bank exceeded analyst expectations on the top and the bottom line, a decrease in net interest margins and mortgage originations weighed. Today, the space traded lower with most majors scheduled to reveal their fourth quarter results this week. Looking at individual components, Bank of America (BAC 11.47, -0.16) and JPMorgan Chase (JPM 45.88, -0.26) lost 1.4% and 0.6% respectively.

Looking at tomorrow's economic data, December retail sales, retail sales ex-auto, PPI, core PPI, and the January Empire Manufacturing Index will all be reported at 8:30 ET. Lastly, November business inventories will be released at 10:00 ET.DJ30 +18.89 NASDAQ -8.13 SP500 -1.37 NASDAQ Adv/Vol/Dec 1153/1.83 bln/1292 NYSE Adv/Vol/Dec 1490/590.5 mln/1497

3:30 pm :

Feb crude oil dipped into negative territory and to a floor session low of $92.95 per barrel in morning action. However, the energy component trended higher for the remainder of pit trade and rallied to a session high of $94.27 per barrel moments before it closed at $94.23 per barrel, or 0.7% higher.
Feb natural gas extended gains for a third consecutive session, trading as high as $3.41 per MMBtu during today's floor trade. Despite a slight sell-off heading into the close, natural gas settled at $3.37 per MMBtu with a 1.2% gain.
Feb gold spent its entire pit session in the black but pulled-back from its session high of $1674.80 per ounce set in early morning action. The yellow metal slid to a session low of $1663.90 per ounce but managed to recover some of the gains as it settled 0.6% higher at $1669.60 per ounce.
Mar silver also traded higher during today's floor session. Although it dipped to a session low of $30.75 per ounce, silver booked a solid 2.4% gain as it closed at $31.14 per ounce, or just below its session high of $30.16 per ounce.

DJ30 +19.12 NASDAQ -10.43 SP500 -2.08 NASDAQ Adv/Vol/Dec 1118/1547 mln/1336 NYSE Adv/Vol/Dec 1391/390 mln/1582

3:00 pm : The S&P 500 is off by 0.1% as the index nears its session high.

This week, quarterly earnings will return into focus as more than fifty companies covered by Briefing.com are scheduled to report their results. Prior to tomorrow's open, investors will look to Forest Labs (FRX 37.51, -0.60) and Lennar (LEN 40.77, -0.18). The Capital IQ consensus expects Forest Labs to report a loss of $0.05 on $769.73 million in revenue. Meanwhile, Lennar is forecast to announce earnings of $0.45 on revenue of $1.32 billion.

In addition, provider of communications equipment ADTRAN (ADTN 20.74, -0.07) will announce its quarterly results after tomorrow's closing bell.DJ30 +25.15 NASDAQ -8.03 SP500 -1.23 NASDAQ Adv/Vol/Dec 1111/1.39 bln/1340 NYSE Adv/Vol/Dec 1406/350.1 mln/1573

2:30 pm : The major averages ticked higher after a Bloomberg TV report indicated Dell (DELL 12.34, +1.46) is in talks with private equity over a potential buyout. Dell is surging 13.4% and several related names are also seeing notable moves. Following the report, Hewlett-Packard (HPQ 16.99, +0.83), Lexmark International (LXK 26.91, +0.95), Microsoft (MSFT 27.01, +0.19), Seagate (STX 34.18, +0.88), and Western Digital (WDC 44.71, +0.73) all jumped to fresh highs. In addition, Intel (INTC 21.89, -0.12) spiked off its session lows on the news.DJ30 +23.19 NASDAQ -6.34 SP500 -1.28 NASDAQ Adv/Vol/Dec 1163/1.25 bln/1284 NYSE Adv/Vol/Dec 1411/322.3 mln/1550

2:00 pm : The S&P 500 is off by 0.3% as the benchmark index continues to hold its recent levels.

Telecom stocks are underperforming after this morning's reports pointed to signs of slowing Apple (AAPL 501.40, -18.90) iPhone demand. The three major carriers which offer the iPhone on their networks are trading lower in response to the developments. AT&T (T 34.07, -0.20), Sprint Nextel (S 5.74, -0.17), and Verizon Communications (VZ 42.72, -0.57) are seeing respective losses of 0.6%, 3.0%, and 1.3%. Note that UBS downgraded Sprint and Verizon to ‘Neutral' earlier today. In addition, JPMorgan Chase also downgraded Sprint to ‘Neutral' from ‘Overweight.'DJ30 +2.46 NASDAQ -16.37 SP500 -3.85 NASDAQ Adv/Vol/Dec 1080/1.11 bln/1327 NYSE Adv/Vol/Dec 1328/295.2 mln/1626

1:35 pm : The S&P 500 is lower by 0.2% as quiet trade continues.

The Dow Jones Transportation Average is adding 0.3% as the bellwether complex outperforms the broader market.

Airlines are trading in mixed fashion after major carriers saw notable outperformance during the final two months of 2012. Since November 16, Delta Airlines (DAL 13.34, -0.01), Southwest Airlines (LUV 11.09, +0.04), and United Airlines (UAL 25.87, -0.12) have all gained between 25% and 41%. Today, the three are seeing little change.

Elsewhere in the space, United Parcel Service (UPS 79.12, +1.20) is firmer by 1.5% after the European Commission informed regulators that it would block the company's proposed acquisition of TNT Express. In addition, Avondale and Deutsche Bank both upgraded the provider of package delivery services.

Also of note, Norfolk Southern (NSC 64.71, +0.67) is adding 1.0% following a Deutsche Bank upgrade to ‘Buy' from ‘Hold.'DJ30 +13.43 NASDAQ -12.97 SP500 -2.86 NASDAQ Adv/Vol/Dec 1101/1.03 bln/1295 NYSE Adv/Vol/Dec 1368/275.8 mln/1590

1:00 pm : Equities began the day on a slightly lower note as pre-market weakness in the shares of Apple (AAPL 502.63, -17.67) weighed on index futures. However, with no economic data or news of note, the major averages have spent the first half of the session in a narrow range. At midday, the S&P 500 is off by 0.2%.

Apple is shedding 3.4% after being down as much as 4.5% in pre-market trade. The weakness followed reports from the Nikkei and the Wall Street Journal, which indicated the largest tech company has cut its orders for iPhone 5 parts due to sluggish demand. The early selling pushed the stock below $500 for the first time in eleven months. A handful of Apple suppliers are also being pressured by the news. Broadcom (BRCM 34.21, -0.61) and Qualcomm (QCOM 63.96, -0.94) are down 1.7% and 1.5% respectively. Meanwhile, Cirrus Logic (CRUS 28.70, -2.88) is sliding 9.2%.

Among other smartphone manufacturers, Research In Motion (RIMM 14.96, +1.40) has been in the spotlight recently. On Friday, the stock surged over 15.0% after photos of the new Blackberry 10 handset became available on the internet. Today, Research In Motion trades higher by 10.3%, which puts it more than 25.0% above Friday's opening price.

As high-beta sectors weigh on the broader market, health care and consumer staple stocks are registering slim gains as a defensive trade takes hold. Among the notable movers in staples, Avon Products (AVP 15.51, +0.29) and Nu Skin Enterprises (NUS 42.66, +0.58) are higher by 1.9% and 1.4% respectively.

In the health care space, Pfizer (PFE 26.70, +0.18) is a notable sector leader as the drug maker trades higher by 0.7%. Earlier, the company announced its Quillivant XR CII used in the treatment of attention deficit hyperactivity disorder is now available in the United States.

The consumer discretionary sector showed relative weakness in early trade, but has moved to a fresh session high since. Amazon.com (AMZN 273.79, +5.85) is a notable sector component as the online retailer trades at a fresh all-time high.

Harry Winston Diamond (HWD 15.02, +0.56) is rising by 3.9% after the company agreed to sell its luxury brand diamond jewelry and timepiece division to the Swatch Group for $750 million. In addition, Swatch will assume up to $250 million of pro-forma net debt.

V.F. Corporation (VFC 152.88, +3.88) is advancing 2.6% after the company confirmed it has submitted a bid to acquire Billabong International for AUD1.10 per share.

The European markets ended the day on a mixed note despite showing intraday strength. The United Kingdom's FTSE shed 0.2% while France's CAC added 0.1% and Germany's DAX gained 0.2%.

The United Kingdom's FTSE was pressured by consumer shares. Associated British Foods and Whitbread both lost 2.0%. On the upside, financials saw relative strength. Resolution, Schroders, and Lloyds Banking Group all gained between 1.6% and 2.7%. Earlier, Lloyds Banking Group said its turnaround efforts are on-track.

In France, utilities outperformed. Electricite de France led the way with a 5.2% gain after the country's government agreed to reimburse the company for the deficits incurred from its compulsory infrastructure investments.

In Germany, Fresenius Medical Care gained 2.2% and was the top performer after Berenberg Bank upgraded the health care stock. On the downside, steelmaker ThyssenKrupp lost 1.8% after a lobby group said the company's Chairman should resign following a controversy related to company-funded travel.DJ30 -1.98 NASDAQ -16.76 SP500 -4.66 NASDAQ Adv/Vol/Dec 1056/949.5 mln/1341 NYSE Adv/Vol/Dec 1305/253.1 mln/1618

12:30 pm : Equities have seen little change in recent trade and the S&P 500 is off by 0.3%.

The European markets ended the day on a mixed note despite showing intraday strength. The United Kingdom's FTSE shed 0.2% while France's CAC added 0.1% and Germany's DAX gained 0.2%.

The United Kingdom's FTSE was pressured by consumer shares. Associated British Foods and Whitbread both lost 2.0%. On the upside, financials saw relative strength. Resolution, Schroders, and Lloyds Banking Group all gained between 1.6% and 2.7%. Earlier, Lloyds Banking Group said its turnaround efforts are on-track.

In France, utilities outperformed. Electricite de France led the way with a 5.2% gain after the country's government agreed to reimburse the company for the deficits incurred from its compulsory infrastructure investments.

In Germany, Fresenius Medical Care gained 2.2% and was the top performer after Berenberg Bank upgraded the health care stock. On the downside, steelmaker ThyssenKrupp lost 1.8% after a lobby group said the company's Chairman should resign following a controversy related to company-funded travel.DJ30 +2.37 NASDAQ -15.66 SP500 -4.17 NASDAQ Adv/Vol/Dec 1042/861.6 mln/1326 NYSE Adv/Vol/Dec 1298/230.9 mln/1616

12:00 pm : The key indices are holding their recent levels, and the S&P 500 is off by 0.2%.

The consumer discretionary sector showed relative weakness in early trade, but has moved to a fresh session high since. Amazon.com (AMZN 273.69, +5.72) is a notable sector component as the online retailer trades at a fresh all-time high.

Harry Winston Diamond (HWD 14.96, +0.50) is rising by 3.5% after the company agreed to sell its luxury brand diamond jewelry and timepiece division to the Swatch Group for $750 million. In addition, Swatch will assume up to $250 million of pro-forma net debt.

V.F. Corporation (VFC 152.53, +3.53) is advancing 2.4% after the company confirmed it has submitted a bid to acquire Billabong International for AUD1.10 per share.DJ30 +10.39 NASDAQ -11.99 SP500 -2.72 NASDAQ Adv/Vol/Dec 1071/789.1 mln/1271 NYSE Adv/Vol/Dec 1368/210.3 mln/1545

11:30 am : The S&P 500 is lower by 0.2% as the index continues to hover near its recent levels.

On Friday, Research In Motion (RIMM 14.86, +1.30) surged over 15.0% after photos of the new Blackberry 10 handset became available on the internet. Today, the stock trades higher by 9.4%, which puts it 26.0% above Friday's opening price. Looking at other smartphone manufacturers, Apple (AAPL 504.92, -15.38) and Nokia (NOK 4.60, -0.09) are down 3.0% and 2.1% respectively.DJ30 +6.83 NASDAQ -12.72 SP500 -3.07 NASDAQ Adv/Vol/Dec 1064/704.6 mln/1264 NYSE Adv/Vol/Dec 1352/188.1 mln/1534

11:00 am : The S&P 500 is shedding 0.3% as the benchmark index trades near the middle of the day's range.

As high-beta sectors weigh on the broader market, health care and consumer staple stocks are registering slim gains as defensive trade takes hold. Among the notable movers in staples, Avon Products (AVP 15.49, +0.27) and Nu Skin Enterprises (NUS 42.93, +0.85) are higher by 1.7% and 2.1% respectively.

In the health care space, Pfizer (PFE 26.84, +0.32) is a notable sector leader as the drug maker trades higher by 1.2%. Earlier, the company announced its Quillivant XR CII used in the treatment of attention deficit hyperactivity disorder is now available in the United States.DJ30 -3.38 NASDAQ -13.24 SP500 -3.61 NASDAQ Adv/Vol/Dec 1039/574.5 mln/1253 NYSE Adv/Vol/Dec 1337/159.1 mln/1497

10:30 am : Crude oil, gold, silver and copper recently sold off, while the dollar was moving very little. Crude oil, gold and copper all fell to new session lows and currently remains near those levels.

Feb crude oil fell as low as $92.95 on this recent sell-off here and is now -0.4% at $93.16/barrel.

Natural gas has been in positive territory all session and just hit a new session high of $3.40. In current activity, Feb nat gas is +2.0% at $3.40/MMBtu.

Precious metals sold off as well a short while ago, along with oil, but remained in positive territory. Feb gold is now +0.4% at $1667.50/oz and Mar silver is +1.7% at $30.92/oz. Mar copper is -0.3% at $3.64/lb.DJ30 -12.62 NASDAQ -16.83 SP500 -4.56 NASDAQ Adv/Vol/Dec 957/480.4 mln/1294 NYSE Adv/Vol/Dec 1276/137 mln/1529

10:05 am : The major averages have extended their opening losses and the S&P 500 is shedding 0.3%.

Financials are trading notably lower and the SPDR Financial Select Sector ETF (XLF 16.97, -0.14) is down 0.8%. The financial sector saw notable gains in recent weeks, but Friday's earnings report from Wells Fargo (WFC 34.66, -0.44) failed to please investors. Though the bank exceeded analyst expectations, a decrease in net interest margins and mortgage originations weighed. Today, the space is trading lower with most majors scheduled to reveal their fourth quarter results this week. Looking at individual components, Bank of America (BAC 11.43, -0.20) and JPMorgan Chase (JPM 45.54, -0.60) are down 1.7% and 1.3% respectively.DJ30 -19.32 NASDAQ -14.43 SP500 -4.46 NASDAQ Adv/Vol/Dec 973/293.1 mln/1197 NYSE Adv/Vol/Dec 1286/95.4 mln/1434

09:45 am : The major averages continue to trade with a mild bearish bias. The S&P 500 is off by 0.1%.

Apple (AAPL 504.27, -16.03) is down 3.1% after being down as much as 4.5% in pre-market trade. The weakness follows reports from the Nikkei and the Wall Street Journal, which indicated the largest tech company has cut its orders for iPhone 5 parts due to sluggish demand. A handful of Apple suppliers are seeing early pressure as well with Broadcom (BRCM 34.24, -0.58), Cirrus Logic (CRUS 30.18, -1.40), and Qualcomm (QCOM 64.03, -0.87) all down between 1.2% and 4.2%.

Two retailers are trading lower due to disappointing holiday sales. Apparel retailer J. C. Penney (JCP 17.82, -0.44) is down 2.4% after the New York Post reported that holiday comparable stores sales were down over 30%. Elsewhere, electronics retailer HHGregg (HGG 7.09, -0.80) is shedding 10.5% after lowering its third quarter earnings and revenue guidance.

Note that President Obama is scheduled to hold a news conference at 11:15 ET. It is currently unknown what the main subject of the address will be.DJ30 -1.51 NASDAQ -5.39 SP500 -1.47 NASDAQ Adv/Vol/Dec 1096/174.1 mln/999 NYSE Adv/Vol/Dec 1437/70.2 mln/1207

09:15 am : [BRIEFING.COM] S&P futures vs fair value: -1.20. Nasdaq futures vs fair value: -14.00. Heading into the open, equity futures are pointing to a lower start to the session. The S&P 500 futures are off by 0.1% while the tech-heavy Nasdaq futures are down 0.6%.

The notable pressure in the Nasdaq futures results from Apple (AAPL 506.01, -14.29) trading lower by 2.7%. As mentioned earlier, reports from the Nikkei and the Wall Street Journal indicated the company has cut its orders for iPhone 5 parts as a result of lower-than-expected demand.

Elsewhere, HHGregg (HGG 7.30, -0.59) is down 7.5% following a downward revision to its third quarter earnings and revenue guidance due to disappointing holiday sales. In addition, the retailer has lowered its full-year 2013 revenue guidance.

In acquisition news, Harry Winston Diamond (HWD 16.11, +1.65) is surging 11.5% after the company agreed to sell its luxury brand diamond jewelry and timepiece division to the Swatch Group for $750 million. In addition, Swatch will assume up to $250 million of pro-forma net debt.

09:00 am : [BRIEFING.COM] S&P futures vs fair value: -0.90. Nasdaq futures vs fair value: -11.50.

U.S. equity futures are trading lower, and the S&P 500 futures are shedding 0.1%. The Nasdaq futures are down 0.5% as they underperform due to pre-market weakness in the shares of Apple (AAPL 506.54, -13.50).

It was a sea of green across Asia as all of the major averages, aside from Singapore's Strait Times (-0.3%), ended in positive territory. China's Shanghai Composite (+3.1%) was a notable high-flyer after Beijing announced the increase of foreign investment quotas by 10 times. Elsewhere, Japanese Prime Minister Shinzo Abe's government and the Bank of Japan reached an agreement to target 2% inflation. Data from the region was light as Australia's ANZ Job Advertisements fell 3.8% month-over-month (-2.8% previous) and India's Wholesale Price Index held at 7.2% year-over-year (7.4% expected).
In Japan, the Nikkei was closed for Coming-of-Age-Day.
Hong Kong's Hang Seng finished higher by 0.6% as brokerage firms posted strong gains on the loosening of Chinese regulation. Citic Securities posted a 6.2% gain following the announcement to lead brokerage names higher. Elsewhere, exporter Li & Fung plunged 15% after its U.S. unit disappointed.
In China, the Shanghai Composite advanced 3.1% as brokerage and insurance names saw strong gains. Haitong Securities jumped 5.54% and China Life gained 2.9% to lead their respective sectors.

European markets are trading higher. A handful of economic data points crossed the wires. Germany's wholesale price index was flat month-over-month, while the general consensus called for an uptick of 0.1%. Italian industrial production declined by 1.0% month-over-month, while the general consensus forecast a decrease of 0.1%. The Eurozone industrial production reading pointed to a month-over-month decrease of 0.3%, while the measure was generally expected to improve by 0.1%.

Looking at regional news, weekend reports indicated the European Commission is considering less stringent measures for Spain and France, among others. However, no official announcement is expected until fourth quarter data is reported in its entirety. In Greece, two unidentified attackers armed with assault rifles opened fire on the headquarters of Greece's New Democracy party. Police said nobody was hurt in the attack.
The United Kingdom's FTSE is flat. Financials are outperforming and Lloyds Banking Group trades higher by 1.8%. The strength follows reports which indicated the bank is on track with its turnaround plan. On the downside, Sage Group is lower by 1.1% after Barclays downgraded the tech stock to ‘Sell.'
France's CAC is adding 0.5% and Electricite de France is leading the way, up 4.8%. The electric utility provider is trading higher after the country's government agreed to reimburse the company for the deficits incurred from its compulsory infrastructure investments. In addition, financials are outperforming. Credit Agricole and Societe Generale are higher by 2.7% and 3.6% respectively.
In Germany, the DAX is rising by 0.5% and financials are trading higher. Commerzbank and Muenchener Re are seeing respective gains of 2.4% and 1.4%. Elsewhere, Volkswagen is adding 1.2% after reporting an 11.0% increase in deliveries in 2012.

08:30 am : [BRIEFING.COM] S&P futures vs fair value: -0.90. Nasdaq futures vs fair value: -11.00. U.S. equity futures remain in the red with the S&P 500 futures off by 0.1%.

Looking further at pre-market movers, Hewlett-Packard (HPQ 16.42, +0.26) is adding 1.8% after Gartner (IT 49.91, 0.00) data showed the company has retaken the top spot in the personal-computer market.

Cisco Systems (CSCO 20.68, +0.20) is rising by 1.0% after William Blair upgraded the shares of the networking company to ‘Outperform' from ‘Market Perform.'

MetroPCS (PCS 9.66, +0.12) is adding 1.3% after Raymond James upgraded the stock to ‘Outperform' from ‘Market Perform.'

08:03 am : [BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -15.00.

U.S. equity futures are lower despite upbeat European trade, with the S&P 500 futures off by 0.2%.

Looking at overseas developments:

Asian markets climbed higher. China's Shanghai Composite surged 3.0% and Hong Kong's Hang Seng gained 0.6%. Meanwhile, Japan's Nikkei was closed in observance of the Coming of Age Day.
Regional economic news was limited:
Australia's home loans decreased by 0.5% month-over-month, while an uptick of 0.3% was broadly expected.
South Korea's trade surplus slipped to $28.5 billion in 2012 due to a decrease in exports.
In news:
China's Shanghai Composite soared after the Chairman of the Securities Regulatory Commission said the country had allowed $16 billion in foreign investment during 2012.
The Chinese press quoted a state research center, who believes the nation's 2012 GDP growth will be in the neighborhood of 7.8% with 2013 growth above 8.0%. However, the most recent trade report from the Middle Kingdom has brought out some skeptics, with analysts at Goldman Sachs and UBS questioning the veracity of the data.
Japan's Prime Minister Shinzo Abe said he is looking for "a person who can carry out bold monetary steps" to lead the Bank of Japan after the term of the current Governor comes to an end in April.

European markets are registering gains. The United Kingdom's FTSE is adding 0.1% while France's CAC and Germany's DAX are higher by 0.5% each.
A handful of economic data points crossed the wires:
Germany's wholesale price index was flat month-over-month, while the general consensus called for an uptick of 0.1%.
Italian industrial production declined by 1.0% month-over-month, while the general consensus forecast a decrease of 0.1%.
The Eurozone industrial production reading pointed to a month-over-month decrease of 0.3%, while the measure was generally expected to improve by 0.1%.
In news:
Weekend reports indicated the European Commission is considering less stringent measures for Spain and France, among others. However, no official announcement is expected until all fourth quarter data is reported in its entirety.
In Greece, two unidentified attackers armed with assault rifles opened fire on the headquarters of Greece's New Democracy party. Police said nobody was hurt in the attack.

In U.S. corporate news:

Apple (AAPL 500.06, -20.24) is down 3.9% after the Nikkei and the Wall Street Journal reported the company has cut its orders for iPhone 5 parts due to sluggish demand. Apple suppliers are seeing pre-market pressure as well with Avago Technologies (AVGO 32.68, -1.66), Cirrus Logic (CRUS 30.05, -1.53), and Qualcomm (QCOM 64.00, -0.90) all down between 1.4% and 4.8%.
J. C. Penney (JCP 17.80, -0.46) is off by 2.5% after the New York Post reported that holiday comparable stores sales were down over 30%.
Sprint Nextel (S 5.79, -0.13) is down 2.2% after UBS and JPMorgan Chase both downgraded the stock to ‘Neutral.'

There is no economic data scheduled to be released today. However, Federal Reserve Chairman Ben Bernanke will speak at the University of Michigan at 16:00 ET.

06:30 am : [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: -9.00.

06:30 am : Nikkei...Holiday......... Hang Seng...23413.26...+149.20...+0.60%.

06:30 am : FTSE...6126.38...+4.80...+0.10%. DAX...7760.86...+45.30...+0.60%.

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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr