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DAILY STOCK NEWSLETTER
Written 04/23/08 for 04/24/08
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NEW Forex Trading Course
http://profits234.10minfx.hop.clickbank.net
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How you could have traded -
The Collapse of Crox
http://www.ino.com/info/185/CD4/&dp=0&l=0&campaignid=3
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HOT Stock Picks
http://profits234.pspicks.hop.clickbank.net/
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First Rule of Investing
http://www.profittrading.com/cuttinglosses.htm
Secrets to Success
http://www.profittrading.com/secrets.htm
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Jim,
I just got out of the digital den with an amazing video.
It's a video produced BEFORE Amazon and Apple report their earnings for the quarter. We've done videos in the past about how our signals pick up on these moves...and now you can see if we're right.
http://www.ino.com/info/189/CD4/&dp=0&l=0&campaignid=3
Adam
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Eugene's Commentary
The price of a barrel of oil has tripled under our current president. He is an oil man. I am not a conspiracy theorist, but if Colonel Sanders was elected president and the price of chicken tripled, then I'd be suspicious. - Bill Maher, Talk Show Host
The stock market was up today after it was revealed that less people lost their jobs than in the prior month. Hey, it's almost summer, think of it as unpaid vacation.
The price of oil dropped a bit today. I guess if they can raise it to make the oil barons happy, they can drop it a bit to appease the common folk on occasion. The government is talking about suspending the 18 cent a gallon gas tax this summer. The price will drop quickly and within 2 weeks will jump back like nothing has happened.
This was written mid-day, so don't invest the food money based on my thoughts.
Costco is limiting the amount of rice people could buy. Consumers are hoarding huge bags as the price continues to rise. Some people love their rice. Fried rice, rice & beans, curried rice, rice-a-roni, rice crispies, rice cream, crown rice, Cajun rice, Condeleeza Rice. The company that makes rice bran from rice husk that I have been barking about for the past 2 weeks, NTRZ, finally jumped out of its base - up 16% or so today. They take rice garbage and turn it into food! There has to be something there!
http://finance.yahoo.com/q?s=NTRZ.OB
Game Stop, the leading seller of video games got an upgrade today. Still well off its high. During bad times, entertainment still does well. Also look at WWE and MVL. MVL has the Iron Man movie due in May and HULK! due in June. Rumor has it that someone actually edited this HULK! script before production (the last one was about an hour too long.) A trip to the movies is $10 or so - it is still cheaper than a vacation or Broadway. Cheap entertainment should rule!
http://finance.yahoo.com/q/bc?s=GME&t=1y
It is time to look again at NVEC, a profitable high tech company that uses nano tech to improve hearing aids and speed up computers.
http://finance.yahoo.com/q/bc?s=NVEC&t=6m
Chinese advertising company, VISN and financial company, JRJC had awesome days. China looks like it is coming back. What is next? CMED? CTRP?
http://finance.yahoo.com/q?s=visn
http://finance.yahoo.com/q?s=JRJC
Farm equipment maker, CNH took a beating on bad earnings - down $10!! This will impact other farm stocks like TITN!
http://finance.yahoo.com/q?s=CNH
The surprise of the day is SLP. This co makes a program that simulates drug reactions and interactions. I thought it would revolutionize drug testing. What did I know? The stock now sells for less that $2.
Common sense usually does not work in the stock market, but pawn shop, CSH had good earnings and the chart has bounced back strong. I like the basing pattern of EZPW and its projected 28% growth for next year. - Gene
"That's it and that's all" - Eddie Hicok Collins 4/13/36 - 8/17/06
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Commentary
Stocks continued to gain strength going into the final hour of Thursday's session.
At 2:42 p.m. EDT, the Nasdaq rallied 1.6% ahead of Microsoft's (MSFT) earnings after the close. The software titan is expected to earn 44 cents a share on sales of $14.5 billion. The Dow and S&P 500 picked up 1.2% each. And the NYSE rose 0.5%.
Volume was tracking higher on both exchanges.
Despite the day's strong rebound, more leading stocks are selling off. Fertilizer makers, which tumbled Wednesday, are again under pressure. That's despite strong earnings news in the sector. Other leaders such as farm equipment, oil and steel stocks are also getting hit, which isn't a good sign for the rally.
FLIR Systems (FLIR) gapped up and rallied 3.18, or 11%, to 33.86. It cleared a 31.97 buy point of a cup with handle that's within a larger consolidation. This morning, the maker of thermal imaging and infrared camera systems reported a 33% rise in Q1 profit and a 47% jump in revenue. Both were above views. And it reaffirmed its full-year outlook for earnings and sales, which were in line with views.
Kirby (KEX) gapped up and gained 1.78 to 57.78. But it pulled back from a record high of 60.11. Late Wednesday, the provider of marine transportation services reported Q1 earnings of 68 cents a share, up 48% from a year ago and 2 cents above views. That was also the fourth straight period of accelerating growth. The stock is 15% extended from a 50.26 buy point of a cup with handle.
On the downside, Titan Machinery (TITN) dropped 2.09, or 9%, to 20.70. The agricultural and construction equipment microcap is one of the biggest percentage losers in the IBD 100. With today's downdraft, it wiped out last week's gains and then some.
Stocks turned sharply higher at midday Thursday, shaking off mixed economic data and disappointing outlooks from Apple and Amazon.com.
At 12:40 p.m. EDT, the Nasdaq had climbed 1.1%, reversing a 0.9% loss. The Dow was up 0.9% and the S&P 500 0.1%. The NYSE composite lagged with a 0.1% gain.
Volume was tracking higher on both exchanges.
Commodity-related groups continued to be pressured by strength in the dollar. Metal, oil and farming machinery groups were among the worst performers.
Terra Nitrogen (TNH) reversed early losses and gained 5.87 to trade at 154.07. The maker of nitrogen-based fertilizer was one of the few bright spots in its group. Before the open, the firm reported Q1 earnings of $3.93 a share, up 110% but below views of $4.23.
Noble (NE) gained 1.40 to 58.42 in fast trade. That puts the contract driller 13% past a 51.88 buy point from a low handle. Late Wednesday, the firm reported a 57% jump in Q1 earnings and a 33% rise in sales, thanks to higher day rates. Both were above views.
Valmont Industries (VMI) rose 1.25 to 100.75. The maker of poles and other structures is bouncing back from a five-session pullback. Volume was heavy in most days of the decline -- that's not what you want to see in a pullback. Valmont is now 1% past a 99.23 buy point from a V-shaped base.
On the downside, NewMarket (NEU) plunged 14.81, or 17%, to 73.51 on monster volume. The stock also sliced its 50-day moving average. The maker of petroleum additives tumbled despite blowing away views.
The dollar's surge against the major currencies pulled the plug on commodity prices and, in turn, a slew of commodity-related stocks.
The NYSE composite was down 0.3% and the Nasdaq off 0.5% at 10:59 a.m. EDT. The S&P 500 slumped 0.4% vs. a 0.3% loss on the Dow. Heavy-volume losses by 3M (MMM) and Chevron (CVX) weighed on the Dow. Exxon (XOM) was especially a big drag on the S&P 500. S&P 500 components Citigroup (C), Wal-Mart (WMT) and Bank of America (BAC) gained ground.
Volume fell slightly on both exchanges.
The Shanghai composite vaulted 9.3% -- its biggest one-day gain since Oct. 2001. It was the market's second day of gains after Chinese regulators pared a key trading tax to boost activity. Hong Kong's Hang Seng index advanced 1.6%.
Stocks in Japan and Korea slipped as the yen and won dived vs. the dollar. Tokyo's Nikkei 225 dipped 0.3%.
Markets also sagged across Europe. London's FTSE dropped 1.5%, weighed by banks and commodities.
The dollar flexed some muscle vs. the euro and several Asian currencies. That dragged on prices for commodities, including oil, which had dipped as much as $2 a barrel in early trading. Gold was down $3.58 to $900.67 an ounce, its sixth straight decline.
L.B. Foster (FSTR) tumbled 9.19 to 35.96 on huge volume. The stock had plunged as low as 30.17 before clawing its way back. The steel component maker for the transportation and energy industries nailed its Q1 earnings views, but revenue slipped. The 20% loss punched shares well below their 10-week moving average, nixing efforts to shape a cup-with-handle base.
Goodrich (GR) gapped up to add 5.53 to 67.19 on powerful volume. The aerospace engine, airframe and electronics maker reported Q1 sales and earnings well above forecasts and upped its guidance above consensus views. The stock had just climbed back above its 10- and 40-week moving average lines. It appears to be building the right side of a cup-shaped base begun in December.
The major stock indexes gave up a higher open early Thursday and turned modestly lower in early trading.
At 10:00 a.m. EDT, the NYSE composite was down 0.6% and the Nasdaq 0.4%. The S&P 500 and Dow each slipped 0.1%.
Volume was tracking slightly lower on the NYSE and higher on the Nasdaq.
LB Foster (FSTR) gapped down and plunged 10.80, or 24%, to 34.35 on monster trade. Before the open, the maker of infrastructure equipment reported Q1 earnings excluding items of 36 cents a share, up 29% from a year earlier and 2 cents above views. But sales tumbled nearly 16% to $93.4 million, well below views of $109.5 million.
CNH Global (CNH) gapped down and dived 10.60, or 19%, to 45.45 in heavy trading. The farming and construction equipment maker reported Q1 profit of 53 cents a share, ex items. That was up 20% from the prior year but 9 cents below views. Sales climbed 26% to $4.37 billion, above views.
Fertilizer stocks backed off en masse, despite some strong earnings in the group. Potash Saskatchewan (POT) dropped 13.73 to 190.39, Mosaic (MOS) dumped 10.66 to 122.61, and Agrium (AGU) fell 3.04 to 83.73. The fertilizer group declined 5% Wednesday.
On the upside, Gardner Denver (GDI) gapped up and gained 7.29, or 18%, to 48.43 in brisk trade. The industrial equipment maker topped views by 15 cents and raised its full-year outlook.
Stock futures pointed to a weaker open Thursday following a mixed round of corporate earnings. Nasdaq futures dropped 8 points vs. fair value, S&P 500 futures gave up 4 points and Dow futures lost 25 points.
In economic news, durables orders slipped 0.3% in March, the third straight monthly decline. Economists expected orders for big-ticket items to come in flat.
Initial jobless claims fell 33,000 last week to 342,000. That was well below views of 375,000, suggesting that the labor market might not be as bad as previously thought.
Data on new home sales will be out at 10 a.m. EDT. Analysts expect a rate of 590,000 units.
Apple (AAPL) rose 1% in pre-market trading despite giving a mild outlook. Late Wednesday, the maker of iPhones and iPods delivered a 33% year-over-year gain in fiscal Q2 earnings and a 43% rise in sales. Both were above views. For the current quarter, the company expects revenue of $7.2 billion, slightly above views.
But Apple, which tends to be conservative, guided profit a dime below analysts' estimates. Morgan Keegan upgraded shares to market perform from underperform. Apple has been working on a new base since December.
Dow component 3M's (MMM) first-quarter earnings grew 8% to $1.38 a share, 3 cents ahead of views. Sales rose 9% to $6.46 billion, also above views. The maker of Scotch tape reiterated full-year profit growth of at least 10%, implying earnings of $5.48 a share vs. views of $5.46. Shares edged up 1% in the pre-market.
Potash Corp. of Saskatchewan (POT) grew 2% in the pre-market after it topped views and gave a rosy outlook. Thanks to surging global food demand, the fertilizer maker's Q1 profit nearly tripled to $1.74 a share, topping estimates by 22 cents. Revenue grew 64% to $1.89 billion. The company boosted its full-year earnings outlook to a range of $9.50 to $10.50 a share vs. estimates of $8.84.
On the downside, Amazon.com (AMZN) shares fell 4% in the pre-market on a disappointing outlook. Late Wednesday, the online retailer reported Q1 earnings and sales above views, but it expects lower operating income for the year.
Chipotle Mexican Grill (CMG) lost 4% in the pre-open, despite topping views. After Wednesday's close, the fast casual chain said Q1 earnings grew 37% to 52 cents a share, 4 cents ahead of views. Still, that marked the third straight period of slowing growth. Sales growth topped views at 29%.
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THANKS!
Jim :-)
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