9 August 2012 AMC

9 August 2012

Market Summary

Almost right...... but i'm not wrong either... i'm gonna give myself a pad on the back for this... market is totally flat... a really tough fight between the bulls and the bears yesterday... bulls lead the first half of the day... then the bears... then the bulls... then the bears... Rmb.. the bears closed the day... 

I reckon it's the unemployment claims keeping the market afloat... let's see if that works today... 

I'm of the bear. =D

Market Internals

Internals are showing a flat day, with a very miserable volume... people are still sidelined.. 

Leaders and laggards

Technical Updates

A totally stalled pattern... it's just waiting for someone bigger to make the move... one more doji to form a tri-star... and... what's happen after the tri-star? =D 

Commentaries

Stock Market Update

16:20 ET Dow -10.45 at 13170.3, Nasdaq +7.39 at 3018.64, S&P +0.58 at 1402.8 :[BRIEFING.COM] Today's session started on a down note. After a brief rise into positive territory, the S&P 500 turned negative at midday. The S&P 500 then recovered, but the index closed unchanged on the day. Energy was one of today's top performers as coal stocks paced the advance. Alpha Natural Resources (ANR 7.25, +0.95) surged 15.1% after yesterday's 9.0% drop following the company's disappointing earnings report. James River Coal (JRCC 2.52, +0.29) missed revenue forecasts by $2 million and reported a loss which was narrower than analysts had expected. Despite the mixed report, the stock soared 13.0%. Arch Coal (ACI 7.42, +0.49) advanced 7.1% as it benefited from the significant gains of other coal-related names. The consumer discretionary sector was generally weaker, but post-earnings buying lifted some restaurant stocks within the space. Red Robin Gourmet (RRGB 32.24, +3.56) jumped 12.4% after beating earnings expectations. The company also reported in-line revenues and expects comparable net restaurant sales for the remainder of the year. Competitor Brinker International (EAT 34.43, +1.87) climbed 5.7% after reporting in-line revenues and issuing upside guidance for fiscal year 2013. Shares of the company are at a 52-week high, and are approaching record highs near $35.50. Consumer staples were today's main laggard. Monster Beverage (MNST 61.20, -6.57) plunged 9.7% after missing earnings expectations by $0.02 and missing revenue forecasts by $3 million. Monster peers Dr Pepper Snapple (DPS 45.01, -0.47) andCoca-Cola (KO 79.24, -0.32) shed 1.0% and 0.4% respectively. The Dow Jones Transportation Average, which often serves as the bellwether for overall economic health, underperformed the broader market. Airlines weighed on the index withDelta Airlines (DAL 9.07, -0.32) down 3.4%, United Continental Holdings (UAL 17.89, -0.43) lower by 2.4% and JetBlue (JBLU 5.02, -0.11) off 2.1%. In M&A news, Robbins & Myers (RBN 59.63, +12.83) announced it will be acquired byNational Oilwell Varco (NOV 76.98, +0.64) for $60.00 per share in cash, representing a 28% premium to yesterday's closing price for RBN. Shares of Robbins & Myers soared 27.4% on the news. Crude oil spent most of its session trading in choppy fashion. It stayed mostly in positive territory despite a stronger dollar. Crude set a session high of $94.21 per barrel in late morning action, but gave up its gains as it headed into the close. The energy component slid to a session low of $93.08 and recovered in time to settle just above the unchanged line at $93.42. As the second quarter earnings season nears its end, few notable companies have yet to report. Educational services provider DeVry (DV 19.87, +0.19), fashion retailerNordstrom (JWN 55.08, -0.37), and chipmaker NVidia (NVDA 14.71, +0.48) will report after today's close. In addition, department store operator J.C. Penney (JCP 22.10, +0.70) will report its quarterly results before Friday's open. Today's volume was well below average as just over 575 million shares changed hands. The latest weekly initial jobless claims count totaled 361,000, which was lower than the expected 375,000. The tally was also down from the prior week count of 365,000. As for continuing claims, they rose to about 3.332 million from 3.272 million. The trade deficit narrowed to $42.9 billion during June after an upwardly revised prior month deficit of $48.0 billion. Economists polled by Briefing.com had expected that the June deficit would come in at $47.5 billion. Wholesale inventories were down 0.2% in June which is lower than the increase of 0.3% that had been broadly forecasted. Tomorrow's economic data releases are limited to export prices ex-agriculture and import prices ex-oil. These will be reported at 8:30 AM ET. In addition the Treasury budget will be announced at 2 PM ET. ..NYSE Adv/Dec 1649/1354. ..NASDAQ Adv/Dec 1368/1097.

After Hours

17:05 ET FIO +27.7%, SMTX +7.6%, UBNT -30.0%, SPRD -13.2% following earnings/guidance :

Today's session started on a down note. After a brief rise into positive territory, the S&P 500 turned negative at midday. The S&P 500 then recovered, but the index closed unchanged on the day. 

Today after the close the following companies reported earnings: DV, ELX, BYI, FIO, UBNT, NKTR, OTEX, BONE, CFN, IMPV, INWK, PEGA, SAAS, SPRD, EPAY, SSNC, MDVN, DGIT, DNN, ESE, EVEP, SMG, SVN, VISN, AGO, ANAC, ARNA, ASYS, BRKS, DAR, ET, HMIN, JWN, RICK, RNDY, GOK, NVDA, AL, CSOD, SLW, POST, LGF, RENT

Futures are lower after hours: S&P 500 futures are -0.49 from fair value of 1399.51 and Nasdaq100 futures are -0.93 from fair value of 2716.82.

Tomorrow morning before the open one economic report is scheduled to be released: 1) Export Prices ex-ag. and Import Prices ex oil.

Tomorrow before the open look for the following companies to report: HAR, CLDX, SCR, XIN, BAM, HSFT, JCP

Commodities

Treasuries 

No heavy data coming out today... today is likely to be another flat day... but to the downside. Next week is not going to be data-friendly.. i think that the market wants some catalyst so today is likely to be flat. Let's see... 

Market Call: 10 Aug

Date: DOWN

Accuracy: 5/8