Accenture (ACN)

Accenture (ACN) will report earnings in the morning. Estimates are $1.10 versus $1.01. There is still some good upside to this name. Technically, $77.50 seems to offer some good support.

 acn

Morning Matters Portfolio Update

The S&P 500 has dropped since our last update. The Nasdaq Composite fell for the first time in five weeks. The portfolio is now 67% invested long, 0% short and 33% in cash, net long 67%. We are now at a value of 842.17% from 842.43% last Tuesday. We locked in a gain of 6.77% on Polo Ralph Lauren (RL) last week at a price of $172.77.

It appears for the time being that 2000 on the S&P 500 has become resistance.

We have added the price target from the Alpha Intelligence Stock Scorecard into the weekly update. All stocks are below their price targets. Celgene is now above its price target. Google is also above its price target as well. We will hold these until they hit their upper limit or we begin to see technical deterioration. ETFs recommendations can be found in The Madison Letter. In 2014, this will be updated each Friday with Market Crash Indicators.

Remember these returns are total returns with the average change for all winners and losers is 7.77% per idea. Our batting average of closed winners and losers is 70%. The portfolio is up 842.14% and from inception when it began at 0% in April of 2008. We began 2013 at a value of 478.60% so we had a very nice gain for 2013 ending at 732.40%. So far this year we are up 109.74 points or 14.98%. The performance on the Uncommon Wisdom Daily Portfolio Tracker is a bit higher due to dividends which they add in. We have never added in dividends so our weekly results are understated since 2008.

Copart (CPRT)

Copart will report earnings after the close. Estimates are $0.41 versus $0.32. Copart is a online auction and vehicle remarketing service company.

 cprt

Autozone (AZO)

Autozone (AZO) will report earnings in the morning. There is still some but not much upside left to this name.

azo

The Week Ahead

1.Geopolitical and Fiscal Events Monday sees Kansas City Federal Reserve President George speaks at 9:30 a.m. EDT as does New York Federal Reserve President Dudley at 10:00 a.m. EDT then Minneapolis Federal Reserve President Kocherlakota speaks at 7:30 p.m. EDT. Tuesday sees St. Louis Federal Reserve President Bullard speak at 9:00 a.m. EDT followed by Kansas City Federal Reserve President George at 9:30 a.m. EDT. Wednesday sees Chicago Federal Reserve President Evans speak at 1:00 p.m. EDT. Thursday sees Atlanta Federal Reserve President Lockhart speak at 3:20 p.m. EDT.

2.Economic Releases. Releases of note this week other than the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims include HSBC China Manufacturing, existing home sales, new home sales, durable goods and Q2 GDP along with Michigan Sentiment.

3.Earnings Releases. Notable releases include (in order of day’s reporting with Monday first and Friday last AZO ASNA CCL BBBY CAN PAYX NKE MU BBRY FINL among others companies as we continue Q1 earnings. See the earnings section.

Morning Matters: Weekly Charts Updated

Each week we highlight charts below of the SP500, Russell 2000, NASDAQ Composite, UUP, EEM, TLT, HYG and LQD. The charts use the 50 day moving average slope indicator. When it is green we like the instrument we are tracking and when it is red we avoid the name/sector/asset class.

 We replaced CFT with LQD and that moved negative last week.

 chart

Nabors Industries (NBR)

Unlike other drilling names that have become very cheap to their price targets, Nabors Industries (NBR) is still rather expensive and not worth a look yet.

 lqd

Index ETF Options Volume

Index ETF Options Volume

We are going to highlight unusual options activity as well going forward. The third column from the left will highlight such outliers. SPDR S&P 500 (SPY) had unusual volume and excess put action for the third day in a row along with the iShares MSCI EAFE ETF EFA). No ETFs had unusual call action.

  [Image 1]

The rows in the options matrix are as follows:

  • Curr Vlm = Current Option Volume for today
  • OpVol20 = 20 day Option Volume average
  • % Delta (sorted descending) = Curr Vlm/ OpVol20 * 100
  • Sym = Symbol
  • 20 HV 100HV 252HV = 20 day, 100 Day and 252 Day Historical Volatility
  • Slope = The slope of the historic vol
  • Delta = Change in slope
  • cOptInt = Call Open Interest
  • pOptInt =Put Open Interest
  • cVolum = Call Volume
  • pVolum = Put Volumed

Baytex (BTE)

Recently in our sister service Junior Resource Millionaire, http://jrm.uncommonwisdomdaily.com, we racked up some nice gains selling some calls in Baytex (BTE). The stock is worth a look in the energy space.

bte

Options Activity

Options Activity By Volume

We are going to highlight unusual options activity as well going forward. The third column from the left will highlight such outliers. Chesapeake Energy (CHK) saw heavy volume and put action as it tries to find a bottom at $25. Monsanto (MON)saw excess call activity and the company presented lastThursday at the UBS Best of Americas Conference. Follow through buyers?

[Image 1]

[Image 2]

The rows in the options matrix are as follows:

  • Curr Vlm = Current Option Volume for today
  • OpVol20 = 20 day Option Volume average
  • % Delta (sorted descending) = Curr Vlm/ OpVol20 * 100
  • Sym = Symbol
  • 20 HV 100HV 252HV = 20 day, 100 Day and 252 Day Historical Volatility
  • Slope = The slope of the historic vol
  • Delta = Change in slope
  • cOptInt = Call Open Interest
  • pOptInt =Put Open Interest
  • cVolum = Call Volume
  • pVolum = Put Volumed