Futures Up Slightly

May 22, 2015

In After Hours Trading

IPOs on deck today none of note. Secondaries on deck EOX FLT HSTM NVEE VGGL VWR.

In After Hours Trading: INTU+.11, ROST+.05, MRVL+.02, BRCD+.02, LGF-.02.

What’s Happening This Morning

U.S. futures: S&P +0.50, Dow Jones +5, NDX +4 and Russell 2000 +1.10 with fair value mixed. Asia higher and Europe mixed.

Copper lower with silver and gold higher. WTI Crude and Brent Oil Futures lower. Natural Gas is lower. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield -3. Prices as of 7:45 a.m. EDT.

Earnings Expected

Earnings due after the close (by market cap descending): none of note.

Due Tuesday morning (by avg. trade volume descending): AZO, CAE.

Rags & Mags: Inside Wall Street

USA Today: Lumber Liquidators (LL) CEO resigned on Thursday. Hewlett Packard (HPQ) beat estimates by $0.02 and sold a China unit. Existing home sales came in weak yesterday.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): DE+.47, CPB+.10, FL+.06.

Current Morning missing: ANN, MENT, TNP.

Futures Lower

May 21, 2015

In After Hours Trading

IPOs on deck today Baozun, Community Health Trust, PGA Holdings and Shopify. Secondaries on deck AGEN D DRNA FATE MBUU NPTN SABR WAVX.

In After Hours Trading: SNPS+.05, WSM+.04, CRM+.02, NTAP-.07, YOKU-.15.

What’s Happening This Morning

U.S. futures: S&P -2.50, Dow Jones -17, NDX -10 and Russell 2000 -1.80 with fair value mixed. Asia higher ex Hong Kong and Europe lower ex the U.K.

Copper,silver and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs. Pound and lower vs. Yen. US 10 year Treasury yield -2. Prices as of 7:55 a.m. EDT.

Earnings Expected

Earnings due after the close (by market cap descending): HPQ, MRVL, GPS, BRCD, JMEI, WUBA, ARO, ROST, LGF, INTU, TC, DANG, DRC,TFM.

Due Friday morning (by avg. trade volume descending): DE, FL, CPB, ANN, MENT, TNP.

Rags & Mags: Inside Wall Street

USA Today: ISIS take control of Palmyra ruins. China demands U.S. plane leave island airspace. Fed concerned about future “taper tantrums”. Airline stocks fall on increased capacity in the fall.

Futures Flat

May 20, 2015

In After Hours Trading

IPOs on deck today Black Knight Financial Services and Shopify. Secondaries on deck ESNT LOCO MNTA NCLH PCTY XEC.

In After Hours Trading: QIHU+.09, CSC+.06, KEYS+.05,HEI+.04, ADSK+.02, NDSN-.06, VSAT-.06, ETSY-.84.

What’s Happening This Morning

U.S. futures: S&P -0.75, Dow Jones +0, NDX +1.50 and Russell 2000 +0.50 with fair value mixed. Asia higher ex Hong Kong and Europe lower ex the U.K.

Copper lower with silver and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is higher. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury yield +3. Prices as of 7:55 a.m. EDT.

Earnings Expected

Earnings due after the close (by market cap descending): CRM, NTAP, YOKU, LB, WSM, BOX, SNPS, EGHT, RXN.

Due Thursday morning (by avg. trade volume descending): BBY, TSL, DLTR, PDCO, AAP, NM, SHLD, BAH, DCI, TTC.

Rags & Mags: Inside Wall Street

USA Today: President Obama calls climate change a national security threat. UBS to pay $54 million in fines on manipulation probe. Oil pipeline breaks off California coast, near Santa Barbara.

Reported Earnings This Morning

Futures Lower

May 18, 2015

In After Hours Trading

5 IPOs on deck this week including Black Knight Financial Services and Shopify. Secondaries on deck this week, none of note so far.

In After Hours Trading: KITE -0.54.

What’s Happening This Morning

U.S. futures: S&P -4.75, Dow Jones -26, NDX -14.50 and Russell 2000 -3.50 with fair value mixed. Asia lower ex Japan and Europe lower.

Copper lower with silver and gold higher. WTI Crude and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield +1. Prices as of 7:55 a.m. EDT.

Earnings Expected

Earnings due after the close (by market cap descending): A, URBN, TTWO, LF, NOAH.

Due Monday morning (by avg. trade volume descending): WMT, HD, TJX, WBAI, EJ, AINV, CMCM, DKS.

Rags & Mags: Inside Wall Street

USA Today: A big week ahead for stocks as investors see how Wal-Mart (WMT) and Target (TGT) fared. Expensive stocks that are really bargain, BIIB GOOGL ACT CMG PCLN ISRG BRKA.

Bloomberg: Greek banks are running out of collateral. Expect deal soon. Q Ratio says that stocks are expensive. ISIS takes control of Ramadi.

Another Merger Monday

Another Monday and another merger. This time a public company is buying a private company. Endo International PLC (ENDP) is buying privately held Par Pharmaceuticals for $8.05 billion. Private Equity firm TPG was the owner of Par after it took the company private in 2008

http://nyti.ms/1L13PL5

Friday’s WTF Moment: Betting Against Oil

Trying to top tick a short is a great way to get your butt kicked. That said, I am really amazed at the number of players trying to call a intermediate term top in oil as it continues to move higher. Sure many of the energy stocks are pulling back after a month of gains between 20-30%. That is normal.

Below is a daily chart of USO and clearly there is nothing technically that shows any trouble ahead. You have been warned if you are short USO or OIL.

uso

 

Ranger Trader Hell Ahead?

Today’s video from Phil Erlanger of Erlanger Research and Good Morning Wall St.com, is a great one for all investors to watch. Usually this is reserved for clients, but today we decided to release it for the world to see. Hope you enjoy.

http://bit.ly/1Kb5Kzz

There are some great comments on the dollar.

Erlanger Value Lines Valuelines After The Open On SPY

This morning SPY had a small gap open. So far it has failed to hold the five minute range (212.61 212.48).  Never a good thing for a gap open. Right now we are trading right around the prior day’s 2 hour low (brown line).

wsr evl

Below is the legend for the valuelines. Pay attention to key levels through the day.

evl legend

Futures Higher

In After Hours Trading

IPOs on deck today Fortress Transportation, Arcadia Biosciences. Secondaries on deck today CVM EARS HMHC IPWR LMRK PAYC USAK.

In After Hours Trading: ANET+.13, KING+.08, DAR+.03, SINA+.02, JWN-.05, EXP-.11, DDS-.12.

What’s Happening This Morning

U.S. futures: S&P +3.25, Dow Jones +26, NDX +13 and Russell 2000 +0.80 with fair value mixed. Asia and Europe higher. Copper,silver and gold lower. WTI Crude lower and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, higher vs. Pound and higher vs. Yen. US 10 year Treasury yield -2. Prices as of 7:55 a.m. EDT.

Earnings Expected

Earnings due after the close (by market cap descending): none of note.

Due Monday morning (by avg. trade volume descending): JASO, WPC.

Rags & Mags: Inside Wall Street

USA Today: S&P 500 hits a new record. 11 companies to watch in Q2 RIG EQIX KIM ATI OXY THC CNX LYB HSP FOSL DVN.

Reported Earnings This Morning

Reported Earnings This Morning (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): none of note.

Current Morning missing: AKRX.

Today’s WTF Moment: You Cannot Make This Stuff Up

Today saw Avon Products (AVP) jump on a rumor that PTG Capital offered $18.75 per share. Yesterday Avon closed at $6.67 a share. Today shares spiked to a high of $8.00 before closing at $7.08. Why the fall back to earth?

Well… it seems that there is no such firm called PTG Capital and this was a b.s. rumor. The company stated that they do not know a PTG Capital and that has been no offer.

Major news wires reported the rumor and shame on them for not making sure the source was correct OR that the bidder was a legitimate entity.

This my friends is today’s WTF moment.