Futures Higher But Pairing Gains

In After Hours Trading

IPOs on deck today Alibaba. Secondaries on deck today GST VKTX.

In After Hours Trading (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): CLC+.05, UNFI+.02.

IPO Financial provides our capital raise data.

What’s Happening This Morning

US futures: S&P 500 +4.75, Dow Jones +58 and NDX +12.80 with fair values lower helping the open. Asia higher and Europe higher. Copper higher with silver and gold lower. WTI Crude lower and Brent Oil Futures higher. Natural Gas is lower. $ is higher vs Euro, lower vs. Pound and higher vs. Yen. US 10 year Treasury yield flat. Prices as of 7:50 a.m.

Earnings Expected

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

Due Monday morning (by market cap descending): AZO.

Rags & Mags: Inside Wall Street

USA Today: Alibaba (BABA) priced at $68 a share. Dow and S&P 500 close at record highs. Whole Foods (WFM) to test rewards program.

Reported Earnings This Morning

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

Data Points

Yesterday saw 1862 stocks rise and 1207 fall on the NYSE. NASDAQ saw 1636 rise and 1092 fall.

The SP 500 is now above its 50 day exponential moving average and is above the 200 day exponential moving average. The Russell 2000 is now back above its 50 day moving exponential average and its 200 day exponential moving average as well with yesterday’s action.

The 10 day spread moving average of breadth is now invested. The Madison Market Timing Indicator is now invested.

YTD 4311 (+368) stocks are higher for the year and 2579 (358) are lower. Updated 8/26/14 Close. Prior Update 8/5/14 close.

Economics

August Leading Indicators are due out at 10:00 a.m. EDT and are expected to fall to 0.4% from 0.9%.

Politico

G-20 Finance Ministers and central bank governors meet in Australia over the weekend.

Conference & Analyst Meetings

Analyst and investor meetings of note TW VHC.

Conference of Note

FCC Roundtable on Open Internet

M & A News

SAP to buy Concur Technologies (CNQR) for $129 a share. Stock closed at $107.80.

Key Upgrades and Downgrades

È

Firm Upgrades Downgrades
JP Morgan
Goldman Sachs AEO CXP EMES CRR
Morgan Stanley
Deutsche Bank
Citigroup
Merrill Lynch
Wachovia/Wells Fargo
Credit Suisse
Banc of America
UBS
Piper Jaffray
Needham
Jefferies
Stifel
Key Banc
Raymond James ZION

The Madison Letter

We are invested on our overall Market Call. Since inception, our overall timing return is 72.93% versus 41.56% on the S&P 500 for excess return of 31.36%. Scores change day to day.

We added a buy on iShares Core S&P 500 Index Fund ETF (IVV) and took gains on Tuesday 9/2.

We began to offer a buy and sell strategy via our Madison Market Timing Indicator at the beginning of April of 2007. There are now 24 open and closed winning trades to 8 closed losing trades with our market timing results.

madison market timiing

Monsanto (MON)

Monsanto (MON) moved higher yesterday on better a report from Stifel where they put a buy on the stock with a price target of $135. We would concur but do not have quite as high a price target.

mon

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

Futures Mixed

In After Hours Trading

IPOs on deck today Civitas Solutions, rEVO Biologics and Tokai Pharmaceuticals. Secondaries on deck today BKEP PETX SXL.

In After Hours Trading (Best to Worst absolute beats/misses [+.02 or greater/-.02 or worse]): ADBE +.02.

IPO Financial provides our capital raise data.

What’s Happening This Morning

US futures: S&P 500 +0.25, Dow Jones +6 and NDX -2.50 with fair values lower helping open losses be muted. Asia mixed and Europe higher. Copper and silver lower with gold higher. WTI Crude lower 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 -1. Prices as of 7:55 a.m.

Earnings Expected

Earnings due after the close (by market cap descending): CLC UNFI.

Due Wednesday morning (by market cap descending): CAG IHS RAD PWE.

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

Transocean LTD (RIG)

Transocean LTD (RIG) is getting pounded with other drilling stocks. That said, as a bottom materializes the stock should be able to mount a serious rally as it is extremely cheap to its price target.

rig

Exxon (XOM)

This morning we begin a review of energy stock that have been pounded and are now worthy of consideration once the price of crude oil bottoms. First up is Exxon (XOM) which is now $15 below our stock scorecard price target. There is decent support at $93.50 so watch to add this name at that level.

xom

Red Robin Gourmet Burger (RRGB)

Red Robin Gourmet Burger (RRGB) has been smacked back to earth from the stratosphere and is now very inexpensive. Worth a look.

 rrgb

Bravo Brio Restaurant Group (BBRG)

Bravo Brio Restaurant Group (BBRG) is another in a long line of cheap restaurant stocks. Worth a look on a hold of $14.

 bbrg