20 August 2012 AMC

21 August 2012

Market Summary

Almost right... I'm not wrong either... Ahead of the Fed minutes, which i expect not much changes, it will tend to be flat... really flat... gotta wait till wednesday's data first... The market went down at the head start and started bouncing back on after lunch hour..

Market Internals

Looking at the internals, it's totally in a mess and the bulls and the bears are just not participating... Hence the miserable volume...

Leaders and laggards

There are no real leaders for 21 August...

Technical Updates

A stalled pattern.... In response for more catalyst...Market was held up by AET, AAPL... Not exactly a bullish day...

Commentaries

Stock Market Update

16:15 ET Dow -3.56 at 13276.75, Nasdaq -0.38 at 3076.21, S&P -0.03 at 1418.13 :[BRIEFING.COM] Challenged by thin volume, equities endured yet another day of lackluster action. After reaching lows during the first hour of trade, stocks staged a slow, session-long recovery. As a result, the major indices ended flat. Healthcare was one of today's top performers. The space was lifted by Coventry Health Care (CVH 42.04, +7.10) as it surged 20.3% after being acquired by Aetna (AET 40.18, +2.14) in a $7.3 billion deal. Other healthcare components received a lift from the acquisition as Bio-Reference Laboratories (BRLI 29.71, +0.31) gained 1.1% andHumana (HUM 68.23, +0.43) added 0.6%. Technology stocks posted gains as the group's biggest component, Apple (AAPL 665.15, +17.04), advanced by 2.6%. As shares marked a new all-time high above $665.00, the company achieved a milestone market cap of $623.14 billion. This made Apple the most valuable company in history. Competitors Hewlett-Packard (HPQ 20.09, +0.57) and Dell (DELL 12.56, +0.34) gained 2.9% and 2.8%, respectively. The two computer makers are scheduled to release their earnings later in the week. Airline stocks outperformed after Southwest Airlines (LUV 9.44, +0.31) announced a $10 increase in the price of nearly a third of its flights. Shares of the discount airline ended higher by 3.4%. Other carriers followed the announcement with fare hikes of their own. United Continental Holdings (UAL 19.45, +1.05) and JetBlue (JBLU 5.27, +0.21) jumped 5.7% and 4.2%, respectively. The consumer discretionary sector underperformed with some of the biggest losses observed in homebuilder stocks. The group retreated after making a broad advance resulting from Thursday's positive new housing permit data. KB Home (KBH 10.59, -0.45) was down 4.1% while NVR (NVR 811.59, -32.17) and DR Horton (DHI 18.41, -0.57) ended lower by 3.8% and 3.0%, respectively. The telecommunications sector was the day's biggest laggard. Stocks within the space have been on a strong run recently and today's weakness appeared to be due to profit-taking rather than a sector-wide sell-off. Sprint (S 5.11, -0.08) shed 1.5% and MetroPCS(PCS 9.91, -0.12) was off by 1.2%. Lowe's (LOW 26.26, -1.61) fell 5.8% on heavy volume. Shares of the hardware retailer are under pressure after the company delivered disappointing results which showed both earnings and revenues misses, and lowered guidance. Competitor Home Depot (HD 56.57, -0.16) slipped 0.3%. Best Buy (BBY 18.16, -2.11) slumped 10.4% after Hubert Joly was named as the new Chief Executive Officer. Shares of the technology retailer are under pressure as the board of directors steps up its battle with founder Richard Schulze over an attempted buyout. Best Buy will report earnings tomorrow before the bell. There is no notable economic data scheduled for release tomorrow. ..NYSE Adv/Dec 1322/1671. ..NASDAQ Adv/Dec 999/1435.

After Hours

16:47 ET URBN +14.6%, NDSN +13.5%, ZOOM +9.2% following earnings/guidance :

Challenged by thin volume, equities endured yet another day of lackluster action. After reaching lows during the first hour of trade, stocks staged a slow, session-long recovery. As a result, the major indices ended flat.

Today after the close the following companies reported earnings: FN, NDSN, TUES, URBN

Futures are lower after hours: S&P 500 futures are -1.09 from fair value of 1415.89 and Nasdaq100 futures are -3.07 from fair value of 2783.57.

Tomorrow morning before the open no economic reports are scheduled to be released.

Tomorrow before the open look for the following companies to report: AMWD, BKS, BBY, DAKT, DSW, GLOG, GSM, MDT, TECD, TSL

Commodities

Sugar is making some serious move over here...

Treasuries 

Not bad changes to the bonds... waiting for more catalyst!

Market Call: 21 Aug

Date: FLAT(to the upside)

Accuracy: 8/15