Stockshakers Market Close update Friday 05-30-2014

S&P 500 1,923.55 +3.52 +0.18%
DOW 30 16,714.38 +15.64 +0.09%
NASDAQ 4,242.62 -5.33 -0.13%
Russell 2000 1,134.42 -5.65 -0.50%

The stock market closed out May on a mostly higher note Friday, sending two out of the three major U.S. indexes to record highs.

The Dow rose 18.43 points, or 0.1 percent, to close at 16,717.17, less than two points above its previous record high set on May 13.

The Standard & Poor’s 500 index rose 3.54 points, or 0.2 percent, to 1,923.57, also closing at a new record. The Nasdaq composite, however, fell 5.33 points, or 0.1 percent, to 4,242.62.

May has been the best month for investors since February. The S&P rose 2.1 percent for the month, while the Dow Jones industrial average rose 0.8 percent and the Nasdaq rose 3.1 percent.

Fridays session was basically anemic with a few surprises including the drop in AAPL from 644.17 to 628.66 from 11:20AM EST – 1:46 PM EST. A $15.51 move down closing out the session at $632.88.
Stockshakers are long the QQQ and YELP seeking the 71 range with Yelp Call Credit Spreads and Long Naked Calls.

 

Stockshakers Market Close update Wednesday 05-28-2014

Ugly tick readings at the close of today’s trading across all three major indexes.
The stock market opened the session on a mixed/choppy note with some modest slippage
developing into mid-morning.
The final hour saw the S&P pullback from its record intraday high (1914.46) ending its win
streak at four.

Negative Sectors leaders: Gold Miners GDX, Crude Oil USO, Software IGV,  Pharma PPH
upside Sector leaders: Natural Gas UNG, Airline, Auto, Trucking, Transports IYT

The S&P winning streak was broken but losses were limited with the price action at this
point merely suggesting some slowing of the strong upside momentum. First level support is
in the 1907/1906 zone with a breach and close under a minor negative increasing potential
for further short term corrective trade. Next support is at the mid-month high/breakout
point at 1902. Fib Extension targets are at 1915 and the 1919/1921 area.

S&P 500 1,909.78 -2.13
DOW 30 16,633.18 -42.32
NASDAQ 4,225.07 -12.00
Russell 2000 1,136.68 -5.52
Apple Acquires Beats for $3B
Apple has agreed to buy Beats Electronics for $3 billion, as the consumer electronics giant
makes a historic purchase, bringing another major brand under its umbrella for the first
time.

Tomorrow, weekly initial claims and the second estimate of
Q1 GDP (consensus -0.5%) will be reported at 8:30 ET, while the Pending Home Sales report
for April (consensus 1.0%) will be released at 10:00 ET.

S&P 500 +3.3% YTD
Dow Jones Industrial Average +0.3% YTD
Nasdaq Composite +1.2% YTD
Russell 2000 -2.1% YTD
Deadly pig virus re-infects U.S. farm, fuels supply fears
A farm in Indiana has become the first to confirm publicly it suffered a second outbreak of
a deadly pig virus this is generating growing concerns that a disease that has wiped out 10
percent of the U.S. hog population will be harder to contain than producers and
veterinarians expected. Hog futures could see additional strength.

Stockshakers Market Close update Tuesday 05-27-2014

Stocks end higher; S&P 500 hits new record

Better-than-expected economic data, including durable-goods orders and home prices, boosted
sentiment. The benchmark S&P 500 SPX +0.60% closed 11.39 points, or 0.6%, higher at
1,911.92. The Dow Jones Industrial Average DJIA +0.42% gained 69.23 points, or 0.4%, to
16,675.50. The Nasdaq Composite COMP +1.23% ended the day up 51.26 points, or 1.2%, at
4,237.07, its highest level in nearly 8 weeks. The Russell 2000 index RUT +1.40% rallied,
gaining 15.96 points, or 1.4% to 1,142.15

The Nasdaq closed up 51 (+1.22%) at 4237, the S&P 500 closed up 11 (+0.6%) at 1912, and the
Dow closed up 69 (+0.42%) at 16676. Action came on slightly below average volume (NYSE 646
mln vs. avg. of 709; NASDAQ 1695 mln vs. avg. of 1902), with advancers outpacing decliners
(NYSE 2147/991, NASDAQ 1994/687) and new highs outpacing new lows (NYSE 226/19, NASDAQ
100/24).

Relative Strength:
Biotechnology-XBI +3.53%, Italy-EWI +3.13%, Biotechnology-IBB +2.48%

Relative Weakness:
Junior Gold Miners-GDXJ -4.81%, Silver Miners-SIL -3.52%, Volatility-VXX -3.09%
The U.S. economy is sluggishly growing like it has since the Great Recession, and until
our government starts initiating more business-friendly policies to stimulate growth,
things are likely to stay slow. 10-15% returns seem highly unlikely if you are just long
stocks.

Decoupling of the correlated assets is a huge question mark…

Last week, Philly Fed president and vociferous “hawk” Charles Plosser opined on his fear of
the $2.5 trillion in excess reserves held by the nation’s banks. Here’s an excerpt from the
article link I will share from ValueWalk…

Mr. Plosser worries that if the economy strengthens as many expect, borrowing could surge
and those excess reserves could pour out of the Fed and “that’s going to put [upward]
pressure on inflation.” This is the “ticking time bomb” he warned about.
A spike in demand for military hardware boosted orders for U.S. durable goods in April by
0.8%, but bookings declined in most civilian categories, the government reported Tuesday.
Orders for some defense equipment posted the biggest increase in 16 months. Economists
polled by MarketWatch had expected a 0.8% decline in overall U.S. orders. Excluding
defense, new orders fell 0.8% in April. The increase in orders in March, however, was
revised sharply higher to show a 3.6% gain instead of 2.5% as previously reported”.
“U.S. home prices rose 0.9% in March, the first gain in five
months, according to S&P/Case-Shiller’s 20-city composite index released Tuesday. Among 20
tracked cities, 19 saw higher home prices in March – only New York posted a drop.”
Consumer Confidence came in at 83.0, which was the exact amount that economists were
expecting. It was down a tad from last month’s 81.7, and it just shows that six
years after the Great Recession, consumers are still not “back to normal” by a
long shot.
Orders for durable goods motor vehicles, machinery, computers and other long lasting items
rose in April, according to data released Tuesday by the Department of Commerce. Most
economists expected a decline.

But if we dig into the manufacturing sector data, we see that the U.S. government ordered
10 submarines from General Dynamics in April; that deal was worth nearly $18 billion.
Although the whole order doesn’t count in April’s data, enough of it was allotted to skew
the month’s headline number.

Housing has been strong this year, but the Case-Shiller numbers today
showed that the upward momentum is cooling. Year-over-year price increases
slowed a bit from a 12.9% increase to a 12.4% increase. It suggests this year’s
upward pop in prices might be losing steam. It is a solid up day for stocks,

 

Spotify Hacked

https://www.yahoo.com/tech/spotify-hacked-android-device-owners-urged-to-
change-87002789889.html

Stockshakers Market Close update Friday 05-23-2014

The S&P 500 closed above 1,900 for the first time ever.
Even though high-growth names of the Russell 2000 displayed strength over the course of the week, that outperformance took place against the backdrop of anemic volume. Entering today, the 1st four sessions of the week saw an average NYSE floor volume of just 578 million shares, average is 702 million, but even that total proved to be insurmountable today as only 543 million shares changed hands. As a result, today’s session generated the 2nd lowest volume of the year.
Markets will be closed on Monday for the Memorial Day holiday.
S&P 500 1,900.53 +8.04
DOW 30 16,606.27 +63.19
NASDAQ 4,185.81 +31.47
Russell 2000 1,126.19 +12.32

Stockshakers Market Close update Thursday 05-22-2014

The Pre Memorial Day 3 day weekend party continues for the U.S. Equities markets and stocks continue to shine on below average trading volume. Thursday was the second lowest volume day with just 565 mln shares changing hands at the NYSE.
10-year Treasury yield rises to highest in a week

S&P 500 1,892.49 +4.46
DOW 30 16,543.08 +10.02
NASDAQ 4,154.34 +22.80
Russell 2000 1,113.87 +10.24

Stockshakers Market Close update Wednesday 05-21-2014

U.S. Equities markets turned Bullish on Wednesday when most indicators were pointing lower.
The markets open saw an immediate bounce and then the market moved sideways. When the Feds Meeting Minutes were
released at 2:00 PM the market rallied into the close to end the day at the high which is typically bullish for the
following day.
S&P 500 1,888.03 +15.20
DOW 30 16,533.06 +158.75
NASDAQ 4,131.54 +34.65
Russell 2000 1,103.63 +5.73

Stockshakers Market Close update Tuesday 05-20-2014

Stockshakers are hearing that Ben Bernanke was speaking at some hedge fund summit as the keynote speaker, he was asked “When will rates start to rise?” – He answered “Not in my lifetime”
Bernanke sits for an onstage interview at the National Economists Club annual dinner at the U.S. Chamber of Commerce in Washington in this file photo

More at Reuters: http://www.reuters.com/article/2014/05/16/us-usa-fed-bernanke-insight-idUSBREA4F0OG20140516

 

 

 

Markets opened down today and continued the slide into the 2PM EST hour when markets started a late day recovery.

However there was not enough buying conviction to right the ship and markets closed in the red for the day.
TIF reports earnings before the markets open on Wednesday.

Futures – Russell 200 was the biggest loser on the day -1.7% Natural Gas was the top performing Future on the day +1.5%.

S&P 500 1,874.03 -11.05
DOW 30 16,391.71 -120.15
NASDAQ 4,101.79 -24.03
NYSE Comp 10,552.45 -66.18
Dollar Index 80.03 +0.01
Russell 2000 1,100.68 -13.75

 

 

 

Futures: Beef recall boosting Live Feeder Cattle Futures

A Michigan firm is recalling 1.8 million pounds of ground beef over fears the meat could be contaminated with E. coli. This will provide some bullishness to the meat sector for the near term
….of course Feeder Cattle is already going to the moon.
Stockshakers are Long Feeder Cattle Futures and Live Hogs Futures