In this era of negativity, particularly amidst the gains of yesterday, here are a few positive signs which hopefully maybe perhaps indicate that the pace of the economyâs decline is at least slowing if not gradually coming to an end- should of course the banking crisis pass without further incident: producer prices have risen for the last two months intonating that the risk of deflation is less than itâd appear; furthermore, the consumer price index rose for the first time in six months in January. The index of LEI (leading economic indicators) has also increased for the last two months indicating forward underlying strength in the economy. Despite stocks like Dryships (DRYS) failing to show life, the Baltic Dry Shipping Index has doubled from its low. Pending home sales rose in December with applications for mortgages having risen as well in recent weeks. Retail sales went up about 1% in January (even if most of the sales undoubtedly occurred at relatively low prices). New orders for consumer goods went up in January. LIBOR has fallen to just over 1%, down from 5% merely weeks ago indicating liquidity is in the global system. The corporate bond market had the most activity last month than it did in any month since May. Is the economy ready to blast off? No. There is a crisis of confidence and nobody knows how much toxicity exists on the balance sheets of the worldâs companies. For day traders, all of these aforementioned factors in this piece offer evidence as to why the market can spring at any given time as it did yesterday; all it took was JPM indicating that things were at least stable to spark a sharp bounce yesterday. Thus, be even more attuned to the political and economic ramifications of any given numbers and policies- and be ready to trade off of said data. Markets throughout Asia bounced for the most part with Tokyo up 2% or so. European bourses also bounced on the heels of Wall Streetâs performance yesterday. Nothing dramatically changed from last night to this morning, but there is a little more short covering in the financials masking some overall market weakness. Look for the banks to lead the way today; some more short covering is likely to ensue as long as the financials hold up OK. Overall, itâll likely be a fairly choppy session and quieter than yesterday. Reiterating- Please understand that if the ideas do not get to the hoped for set-ups cited below, more often than not, one should not blindly trade the symbol next to said idea. If the whole story is not there - If something is good, assume either a short thru unchanged or an A-B-A2 based on direction of the market unless specifiedIf something is bad, assume either a buy thru unchanged or an A-B-A2 (preferably to the downside in a downside market and the upside in an upside market) based on direction of the market unless specified- Good- The following stocks have good news and/or a strong technical pattern MELI- decent earnings RRC- beat earnings guidance CRI- decent earnings CBI â good earnings MF- buying back debt NTRS- closed on the high KPPC- closed near a high EGLE- closed on a high OB- closed on a high DIN- great earnings DLM- surprisingly good earnings Bad-The following stocks have bad news and/or a weak technical pattern FSLR- beat earnings by a lot, but warned of softening demand for next quarter WYNN- atrocious earnings XCO- bad earnings HCN- bad earnings HLF- bad earnings CCI- warned for the quarter DWA- bad earnings FCSX- traded sharply lower after-hour as they could potentially default HPY- closed on the low of the day ARP â closed on the low MAPP âclosed near a low Earnings: WED FEB 25 BEFORE ABK BRY CETV CMS CNP DIN DLM DLTR DNR EV FTR GAS HK KBR KWK LXP MSO PEI SCI SJM SKS SPW TJX VMED WED FEB 25 AFTER AEL AGO ATN CLF COGT CRM DCI EQY ES ESRX FLR FLS GDP GVA LTD MEDX MRX NTES NUVA PXP PCR PDGI PSYS TRLG URI Good luck today. Erik R. Kolodny
Turder, Learn to edit what you're quoting, so we don't have to scroll through the whole post. It's not hard to do. Erik, Keep up the good work.
Erik is making a contribution and offering information a reader may not be aware of in addition to a professional perspective. His daily posting has helped me regularly. I read a lot but seldom post. I felt bad for you in some threads. Now I realize you are just mean spirited.
+1 turder, didn't you say you'd leave this site if you're idiotic perma-bull predictions were shown to be the fantasies of a teenager? You take away from the site. Erik's post are apparently read by quite a few people and help them. Why don't you go back to studying for your night school exams? Seriously, girl. I figured even you wouldn't be so stupid as to believe that after making a complete ass of yourself on here, it would be a good idea to randomly troll threads that actually contribute something.