This week is very crucial for stock market, even though its riding on drug right now. Expect very wild swing in the market because of the macro outlook. US is still far away from raising debt ceiling or solving fiscal cliff and most probably it will go over the cliff. December 14th is the last day of congress session. December 13th Greece were suppose to get their bailout on meeting condition, but Greece fell short of debt buyback program by 5 Billion. Italy Prime minister and Ex Goldman Sach's executive Mario Monti will resign soon. Fed fomc meeting begins on December 11th -12th with result out on 12th at 12.30 EST announcement on Fed policy followed by Ben Bernanke speech at 2.15 pm EST. So tighten your seat belt it will be crazy ride. US is now 39 Billion away from hitting debt ceiling which means Treasury will start using "Extraordinary measures" to prevent US from default. It doesn't make sense but that's how politician work.
Monday stock market is expected to open low but I am expecting flat to slightly higher ahead of Fed fomc meeting and then on the meeting outcome, it should go down for the rest of the week. Ideal plan will be sit on the sideline. Watchout movement in DUST, NUGT, GLD, SLV, AGQ. All the chart is listed here http://stocktwits.com/stocktrend
 |
| Fiscal cliff timeline |
Federal Reserve continue to print and stock market continue to rise.
 |
| Fed Reserve Vs S&P500 - fed printing continues and stock market continue to ris |
 |
| S&P500 two week chart: 1384 - 1423 channel on. Sell below 1414 with PT of 1398 |
Friday After Hours Movers
December 9th Economic Calendar:
| Date | Time | Currency | Importance | Event | Actual | Forecast | Previous | |||||||
| Dec. 09 | 00:30 | CNY |  | Chinese Fixed Asset Investment (YoY) | 20.7% | 20.8% | 20.7% | | ||||||
| 00:30 | CNY | | Chinese Industrial Production (YoY) | 10.1% | 9.8% | 9.6% | | |||||||
| 00:30 | CNY | | Chinese Retail Sales (YoY) | 14.9% | 14.6% | 14.5% | | |||||||
| 18:50 | JPY | | BSI Large Manufacturing Conditions | 4.3 | 2.5 | | ||||||||
| 18:50 | JPY | | Adjusted Current Account | 0.25T | -0.14T | | ||||||||
| 18:50 | JPY | | GDP (QoQ) | -0.8% | -0.9% | | ||||||||
| Tentative | CNY | | Chinese Trade Balance | 26.85B | 32.00B | |
On Monday, the President will travel to Redford, Michigan for an event on the economy at the Daimler Detroit Diesel plant.
On Tuesday and Wednesday, the President will attend meetings at the White House.
On Thursday, the President will host a Hanukkah reception at the White House.
On Friday, the President will attend meetings at the White House.
Premarket Earning:
The following companies are expected to report earnings prior to market open:
John Wiley & Sons, Inc. (JW/A) is reporting for the quarter ending October 31, 2012. The book publisher company's consensus earnings per share forecast from the 2 analysts that follow the stock is $0.81. This value represents a -2.41% decrease compared to the same quarter last year. The last two quarters JW/A had negative earnings surprises; the latest report they missed by -28.77%.
Ferrellgas Partners, L.P. ( FGP ) is reporting for the quarter ending October 31, 2012. The oil refining company's consensus earnings per share forecast from the 4 analysts that follow the stock is $-0.23. This value represents a -45.24% decrease compared to the same quarter last year. The last two quarters FGP had negative earnings surprises; the latest report they missed by -5.13%.
Triangle Petroleum Corporation ( TPLM ) is reporting for the quarter ending October 31, 2012. The consensus earnings per share forecast from the 7 analysts that follow the stockis $0.02. TPLM reported earnings of $-0.05 per share for the same quarter a year ago; representing a a decrease of -140.00%. IDT Corporation ( IDT ) is reporting for the quarter ending October 31, 2012. The diversified company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.12. This value represents a -20.00% decrease compared to the same quarter last year. IDT missed the consensus earnings per share in the 3rd calendar quarter by -83.33%.
Camelot Information Systems ( CIS ) is reporting for the quarter ending September 30, 2012. The information technologyservices company's consensus earnings per share forecast from the 1 analyst that follows the stock is $0.05. This value represents a -115.15% decrease compared to the same quarter last year. CIS missed the consensus earnings per share in the 3rd calendar quarter by -760%. The "days to cover" for this stock exceeds 15 days.
No comments:
Post a Comment