Nov

30

Daily Market Wrap 30NOV07

November 30, 2007 | Leave a Comment

Key market data: personal income up 0.2% M/M vs. 0.4% est, personal expenditure up 0.1% M/M vs. 0.3% est; NAPM Chicago 52.9 vs. 49.7 est; construction spending -0.8% M/M vs. -0.3% est; and Treasury Secretary Paulson reportedly meeting with banks to extend teaser rates on subprime mortgages

Key market moves: Huge financials rally, CFC up 17%, C, WM, WFC, moving up 4-8%; bond insurers ABK, PMI, MBI up roughly 10%; overall markets tame, with Dow and S&P up 0.8% and the […]

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Nov

30

Flipping China plays

November 30, 2007 | Leave a Comment

This afternoon I decided to flip China plays by taking partial profits in CPHI.OB and swapping the money into CEUA.OB. With China Pharma up about 30% in just a few weeks, it is only prudent to take some off the table, and so I decided to sell about 35% of my overall position at $3.65.

I then decided to rotate the money into CEUA, roughly doubling my stake at $4.71. The stock has yet to participate in […]

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Nov

29

Daily Market Wrap/Thoughts for tomorrow 29NOV07

November 29, 2007 | 2 Comments

Key market data: Jobless Claims 352k vs. 330k estimated; Q3 GDP 4.9% vs. 4.8% estimated, price index 0.9% vs 0.8% estimated; new home sales 728k vs. 753k estimated; natgas inventories down 12Bcf, inventories still 9% above 5 year avg.

Key market moves: markets in general were quiet today, with the major indices squeaking out small gains (less than 0.2%) at the close; oil closed up fractionally after a big spike in the morning on news of a pipeline explosion in […]

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Nov

28

Daily Market Wrap 28NOV07

November 28, 2007 | Leave a Comment

Key market data: Durable goods orders decline 0.4% month over month vs. estimated 0.3% gain; existing home sales 4.98 million vs. est. of 4.95 million, inventories at 22 year high and supply is 10.5 months; oil inventories fall 452k barrels, less than the 500k barrels expected, and a supply build in Cushing, OK

Key market moves: Dow, S&P up 2.5%, Nasdaq up 3%; 10 year treasury yields jump 0.08% to 4.03%; oil down 3.80 to below $91; gold down $14 […]

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Nov

28

Jumping in on the long side

November 28, 2007 | 3 Comments

Today I decided to jump in on the long side in a number of names. I’m just going to cut to the chase and go down my list of buys.

AVAV at 23.42 because the company continues to get military orders and is ramping up its green energy segments

CEUA at 4.71 because upcoming investor conference might finally put this on the radar

CAGC at 2.88 because China needs non-chemical fertilizer and the stock is dirt cheap

CNEH at 2.20 because it is […]

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Nov

27

Daily Market Wrap 27NOV07

November 27, 2007 | Leave a Comment

Key market data: Retail sales up 2.5% YoY; Consumer confidence at 87.3 vs. est. 90.5, lowest since 2005; third quarter housing prices decline 4.5% nationally

Key market moves: All three major indices up 1.5% on above average volume; oil down 3.1% on growth worries; orange juice up 3%; ten year yield recovers modestly to 3.95%

Commentary: I am very intrigued by the action today. As soon as I saw the Citigroup news last night, it gave me the sense that something […]

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Nov

26

Daily Market Wrap 26NOV07

November 26, 2007 | Leave a Comment

Key market data: none

Key market moves: ten year treasury yield drops to 3.85%, lowest in more than 2 years; copper down 1.95% to $2.96; Dow down 1.8%, S&P down 2.3%, Nasdaq down 2.1%; VIX spikes to 28.9; C down 3% on speculation that SIV’s could come on to the balance sheet following HSBC’s announcment to do so today

Commentary: Frankly, today was a bit of a scary day. There have been a number of 2% moves in recent […]

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Nov

24

Updating Tuesday’s portfolio moves

November 24, 2007 | Leave a Comment

I made two small moves in the portfolio on Tuesday. The first was to sell my remaining portion of KWBT.OB at $0.14. I kept a small amount of stock after selling the majority in the hope that the stock could continue to run up after Q3 results were announced. However, the stock didn’t go any higher than my original sell at $0.16, and then proceeded to break down technically back to below $0.10. Given the technical […]

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Nov

22

Happy Thanksgiving

November 22, 2007 | Leave a Comment

I made one move yesterday, but I am not going to work on Thanksgiving, so I will talk about it tomorrow. Happy Thanksgiving.

Nov

20

Daily Market Wrap 20NOV07

November 20, 2007 | Leave a Comment

Key data: Retails sales up 2.2% YoY, no estimates; Housing starts 1.228 million vs. est. of 1.16 mill; Housing permits 1.18 mill vs. est. of 1.2 mill; Investor confidence at 74.3, down from 82 in October

Key market moves: Euro rises to new high against dollar at 1.4837; oil rises $3 to close above $98 for first time; RBOB gas futures rise above $2.45, approaching a new 52 wk high; Major indices rise modestly with S&P leading the […]

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