We get the Government employment report @ 8:30am est. Expectations are for -400k. The rub is that no one expects anthing goog. The GOOG guys (Eric Schmidt) say the worst of the recession is over. Bing! Taleb says how could you trust someone who didn't predict the crisis in the first place. Goog point.
The World is not too happy this morning. Europe is trading down 70-160 bips. Japan was down 60 bips. Taiwan was down 110 bips. Australia and India were flat. But, China was up 173 bips. Can China save the world?
Remember that we have a holiday day tomorrow. A potential trend changing day is 7/7, a lunar eclipse and full moon. Believe it or not.
1) Goog earnings/guidance? N/A
2) Goog upgrades? The Swann likes ACOR, Kaufman likes TTWO, Murray likes PARD, Stifel likes to NFLX and Deutsche likes TTM.
3) Goog gappers? SIPPI and ACOR.
4) Bad gappers? ILMN, XLNX, SPR and GOLD.
5) Cramer? In the closet drinking scotch. Won't come out.
6) EXC offers more for NRG, from a .485 ratio of EXC stock to a .545 ratio.
7) ILMN lowers guidance similarly to MYGN. Ouch.
8) SEPR - Drug did not mee primary efficacy point. Another ouch.
9) JNJ acquires ELN assets for $1 billion.
10) FCSX & IAAC merge.
12) Trade of the Day? I like CYBX right here.
Yep, they all look pretty bad.
I'll probably just use ERY or TZA and leverage up.
The ABC up on ERY is $29.50 if it busts 24.81.
The ABC up on TZA is $27.00 if it busts 25.77.
But, let's see if they can bust out the QQQQ pivot of 34.77 to determine if we have a bearish trend reversal. The hints are at the pivots. They'll need volume of 115 million shares next week to bust the pivot and confirm and ABC down to QQQQ 34.43. We'll see if the Bears have it in them. The Bears have the ball.
I can't find much green out there. It's raining and thundering. Goog stocks?
OSK, IPCR, ELN, CAL, ENER, SAFM, NAVI, ESLR and ADTN.
Each of these stocks has a reason for trading up. Probably the best one is ADTN.
Otherwise, the Bears have the day. Be careful out there.
Board and dear Darth:
my eyes only for XIN and FSLR today.
Mr PIMCO -Bloomberg TV- said yesterday:
only shares paying good dividends in these times ... ( agree with this white gloves mafia).