This Month in Stocks: 9/29 - 11/02/07

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Still no word from Apple. The bears would have you believe that the recent price drop of their iPhone and refunds sent will hurt earnings. The bulls will tell you it's already priced in.
 
tsptalk said:
Still no word from Apple. The bears would have you believe that the recent price drop of their iPhone and refunds sent will hurt earnings. The bulls will tell you it's already priced in.
Click to expand...

Bloomberg is reporting quarterly sales have exceeded analyst estimates by good margins:

1.01 / share versus .88 estimate
6.22b revenues versus 6.01 estimate
Profits also well above estimate
They have also revised next quarter estimates upwards.

Should be a nice day tomorrow :D
 
Yes, the market likes it. Apple up $12 (7%) after hours, and Nasdaq futures are very green.
 
Japanese auto giant Toyota Motor Corp likely posted a record consolidated operating profit of 1.2 trillion yen in the first half ended in September, up 10 percent from a year earlier, thanks to solid sales in Asia and the Middle East as well as in the US and Europe, the Nikkei business daily reported on Tuesday.
http://www.cnbc.com/id/21426403/for/cnbc
 
Show-me said:
The Week Ahead

Last Update: 19-Oct-07 13:12 ET
Click to expand...

Show-me:

Now that you are doing a monthly thread, can you put these in a sticky so that they are easier to find? I really appreciate these summaries and rely on them all the time!

Thanks
 
I don't think I can do that. One way of tracking you favorite threads is to use the "Thread Tools" at the top of all of the posts. Click it and you will get a drop down menu. Then click "Subscribe to this Thread" and it will save it for you. It will ask if you need e-mail update. I never select that. Then all you do click the drop down menu on "Quick Links" and select "Subscribed Threads" and it will take you to a menu with all of you favorite thread. It's really cool. If anybody needs help let me know and if you don't like it I will ask Tom or Spaf to "sticky" it.

Good luck and good investing. :D
 
Show-me said:
I don't think I can do that. One way of tracking you favorite threads is to use the "Thread Tools" at the top of all of the posts. Click it and you will get a drop down menu. Then click "Subscribe to this Thread" and it will save it for you. It will ask if you need e-mail update. I never select that. Then all you do click the drop down menu on "Quick Links" and select "Subscribed Threads" and it will take you to a menu with all of you favorite thread. It's really cool. If anybody needs help let me know and if you don't like it I will ask Tom or Spaf to "sticky" it.

Good luck and good investing. :D
Click to expand...

Thread tools and subscribe works fine for me.
 
Uh oh, I'm sensing the Street is worried that these stellar earnings will sway B52 Ben and the jets into not cutting rates. Happy Halloweenie!
 
Quote of the day:

"Unprecedented times call for unprecedented remedies," Countrywide President and Chief Operating Officer David Sambol said in a statement. "We are determined to assist borrowers who have the willingness and wherewithal to remain in their homes, but need a little help to do it." The Calabasas, Calif.-based

Show-me sez: "Or in order to cover our butts."
 
Show-me said:
Quote of the day:

"Unprecedented times call for unprecedented remedies," Countrywide President and Chief Operating Officer David Sambol said in a statement. "We are determined to assist borrowers who have the willingness and wherewithal to remain in their homes, but need a little help to do it." The Calabasas, Calif.-based

Show-me sez: "Or in order to cover our butts."
Click to expand...

What get me is that some of these mortgages have adjusted once maybe twice, and now Countrywide thinks people will have enough money to pay down a traditional mortgage. They are smokin' something good.
 
ATCJeff said:
What get me is that some of these mortgages have adjusted once maybe twice, and now Countrywide thinks people will have enough money to pay down a traditional mortgage. They are smokin' something good.
Click to expand...


It's called "loan modification" and it's supposed to be good for everyone involved. :laugh::laugh::laugh: Now take the red pill.
 
CFC up 21% premarket, missed the boat. Futures up, missed the boat. OSM up, missed the boat. Dollar down, missed the boat.
 
The Week Ahead

Last Update: 26-Oct-07 14:15 ET

There is quite the store of announcements scheduled for next week. Investors will have plenty in the way of earnings releases and economic data to digest as the week starts rolling.

The key event of the week is the FOMC meeting, which is a two-day affair that will culminate in the issuance of the Fed's directive on Wednesday around 2:15 ET. Briefing.com sides with the market in expecting the fed funds rate to be cut by 25 basis points.

The advanced reading for third quarter GDP will also be released Wednesday. Other reports due during the week include Personal Consumption Expenditures, the Q3 Employment Cost Index, and the October employment report. Further detail on these reports and others can be found via the links on our Economic Calendar.

Some of the featured names on Briefing.com's earnings calendar include Kellogg (K), Verizon (VZ), Colgate-Palmolive (CL), Proctor & Gamble (PG), MasterCard (MA), Transocean (RIG), CVS Corp. (CVS), Exxon Mobil (XOM), Sprint Nextel (S), and Duke Energy (DUK).
________________________________________________________________
Monday, October 29:
  • Earnings: Alberto-Culver (ACV), Hertz (HTZ), Humana (HUM), Kellogg (K), Loews (LTR), Northwest Airlines (NWA), Verizon (VZ)
  • Economic Data: None
  • Events: Ethan Allen Production Report and Conference, TomoTherapy Investor Presentation, Accuray Investor and Analyst Event
  • Conferences: BB&T Capital Markets Conference
  • Fed Speakers: None
Tuesday, October 30:
  • Earnings: Automatic Data (ADP), Avon Products (AVP), BJ Services (BJS), Colgate-Palmolive (CL), First Energy (FE), MGM Mirage (MGM), Office Depot (ODP), Procter & Gamble (PG), Qwest (Q), U.S. Steel (X), McKesson (MCK)
  • Economic Data: October Consumer Confidence
  • Events: Federal Open Market Committee meets to discuss interest rates and economy, U.S. Treasury Secretary Paulson discusses India's economy in New Delhi
  • Conferences: None
  • Fed Speakers: None
Wednesday, October 31:
  • Earnings: Clorox (CLX), Kraft (KFT), MasterCard (MA), Newmont Mining (NEM), Transocean (RIG), Aon (AOC), MetLife (MET), Prudential (PRU), Sunoco (SUN)
  • Economic Data: Advanced Third Quarter GDP, Q3 Employment Cost Index, Chicago Purchasing Managers Index for October, September Construction Spending
  • Events: FOMC Meeting
  • Conferences: None
  • Fed Speakers: FOMC announces policy decision at 2:15 ET
Thursday, November 1:
  • Earnings: Amerisource Bergen(ABC), CVS Corp (CVS), Dominion (D), Exxon Mobil (XOM), MedcoHealth Solutions (MHS), Sprint Nextel (S), Williams Companies (WMB), CBS Corp (CBS)
  • Economic Data: September Personal Income report, September Personal Spending report, September Core PCE Inflation, Initial Jobless Claims (week ending Oct. 27), October's ISM Index, October Auto and Truck Sales, September Pending Home Sales
  • Events: None
  • Conferences: None
  • Fed Speakers: None
Friday, November 2:
  • Earnings: Chevron(CVX), CIGNA (CI), Duke Energy (DUK), Electronic Data Systems (EDS)
  • Economic Data: October Employment Report, September Factory Orders
  • Events: None
  • Conferences: None
  • Fed Speakers: None
--Jeffrey Ham, Briefing.com
 
Hmmm! No Up-tick rule and now no Curbs. Talk about big moves coming.

NYSE Eliminates Trading Curbs Dating Back to 1987 (Update1)

By Edgar Ortega

Oct. 26 (Bloomberg) -- The New York Stock Exchange said it will no longer impose curbs on computer-program trading that were put in place after the crash of 1987, claiming they're no longer as effective in damping swings in prices.

The exchange will stop prohibiting brokerages from entering some program trades when the NYSE Composite Index rises or falls more than 2 percent, according to a notice sent to member firms today. The so-called collars had been in effect since 1988 and were triggered 17 times this year, according to a filing with the Securities and Exchange Commission.

``Volatility is neither restrained nor enhanced by the imposition of the collars,'' the NYSE said in the SEC filing making the changes effective. ``The exchange is making this change since it does not appear that the approach of market volatility envisioned by the use of these collars is as meaningful today as when the rule was formalized in the late 1980s.''

The curbs applied only to some index arbitrage trades on stocks in the Standard & Poor's 500 Index executed at the Big Board. Brokerages weren't barred from turning to rival exchanges to complete those trades.

Increased electronic trading has also made arbitrage strategies a smaller piece of daily equity trading, the NYSE said in the filing. Index arbitrage strategies accounted for about 4.6 percent of the total shares bought or sold at the NYSE, according to data on its Web site.

The Dow Jones Industrial Average fell 22.6 percent on Oct. 19, 1987, its steepest one-day decline ever, according to the Stock Trader's Almanac. At the time, some analysts and regulators said index arbitrage trades handled electronically contributed to the drop.

During the final half-hour of trading, index arbitrage strategies accounted for about 3.2 percent of trading at the NYSE, according to the presidential report on the 1987 crash. Program trading represented a total of about 12.2 percent.

Brokerages will still be required to report program trades, defined by the NYSE as the purchase or sale of a basket of at least 15 stocks valued at a minimum of $1 million.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aUL8Vr5ssB_k
 
Let's look at the numbers.​

Looking at the number if the Dow continues to bounce into next Wednesday's Federal Reserve meeting look for potential upside resistance to occur maybe around the 13900 area which coincides with its 61.8% Retracement Level calculated from the high made a few weeks ago to the low made on Monday.

As far as the Nasdaq it held support near its 50 Day EMA on Monday and is attempting to rally back to its previous high made just a few weeks ago near 2835 which may act as a significant area of resistance if it continues to rally leading up the Federal Reserve meeting next Wednesday.

The S & P has rallied above its 20 day ema. If the S&P 500 continues to move higher leading up to the Federal Reserve meeting on Wednesday so we may see potential resistance develop near the 1544 level which coincides with its 61.8% Retracement Level calculated from the high made a few weeks ago to the low made earlier in the week.

Finally another thing I'm concerned with in the longer term is the action in the Semiconductors. Historically the Nasdaq and the Semiconductor Index (SOX) have generally trended in the same direction. I think Tom has talked about this at some time. The SOX which peaked in mid July has been trending lower while the Nasdaq has been trending higher since mid August . The last two times the SOX put in a top back in early 2006 and further back in early 2004 this was followed by a significant correction which was eventually followed by substantial correction in the Nasdaq as well . Thus we shall see if the Nasdaq eventually comes under some significant selling pressure in the months ahead if the SOX continues to trend lower.

Who the hell knows but just a couple of observations.:confused:
 
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