Stock Market Intraday Chat: Apr 23rd - 27th - Page 16

DAX is now way off it's highs from today. Some news:

Italian Bond update: sold €8.5B 6mth fiat at 1.77% vs prior auction1.12%

Italian business confidence for APR falls to 89.5 vs 91.1 in MAR

@zerohedge: European countries now officially in recession: UK, Greece, Italy, Portugal, Ireland, Belgium, Denmark, Holland, Czech Republic, Slovenia


Earnings:

$WM reported Q1 2012 EPS of $0.38, missing estimates by $0.03, Revs of $3.3B slightly beat estimates of $3.2
$UPS reports EPS of $1.00 vs. $1.02 expected, Revenue of $13.1B vs. $13.3B expected
$XOM reports Q1 EPS $2.00 vs $2.08 Est
$POT reports Q1 EPS 56c vs 63c Q1 sales $1.75B vs $1.78B

Final piece of news jobless claims:

Initial Jobless Claims 388K vs 375K Est; Prior 386K Revised to 389K

@zerohedge: 10th consecutive Initial Claims miss in a row
Edited by barbellman - 4/26/12 at 8:35am

GOOG opening with a nice candle higher.

 

Biggest movers at the open are:

 

PATK    Patrick Indus        11.95    33.67%
LOGI    Logitech Intl ADR    9.35    20.03%
IFSIA    Interface Inc'A'    14.70    18.17%
NTGR    Netgear Inc          39.65    17.00%
SWI    Solarwinds Inc        44.19    16.84%
NEU    NewMarket Corporation 223.52    13.80%
SKX    Skechers U.S.A. Cl'A' 16.96    13.67%
STMP    Stamps.com Inc       32.09    13.39%
CRUS    Cirrus Logic         26.16    13.30%
REGN    Regeneron Pharmaceuticals    143.82    13.15%

NUAN up nicely this morning at 11%.

 

EA also up on a bid rumor from a Japanese game company, up 3.8%

GOOG with a nice pennant forming, if it breaks up here it's going to be a very nice day in GOOG land.

Logitech making a break out move here:

 

 

Logitech shares are trading sharply higher Thursday morning after the maker PC and consumer electronics peripherals posted better-than-expected profits for its fiscal fourth quarter ended March 31.

 

For the quarter, Logitech reported revenue of $532 million, down 3% from a year ago, and shy of the Street consensus at $538.4 million. But profits of 17 cents a share were well ahead of the Street at 7 cents, as gross margin expanded to 36.4% from 32.8% a year ago.

 

Transports sucking wind today, they are all over the map these past few sessions.

 

 

Homebuilders, gold, energy, tech and consumer staples all green.
 

IYT is a hot mess... it has been the wild child for most of this year, you never know what it is going to do. It trades pretty thin, relatively speaking, maybe that is part of it. NSC reported good results yesterday and had a 3-4% move up, big move for a stock like that. I think IYT's prospects are indeed pretty good. Posted a chart w/ article last week talking about how it is set up for new highs. Dow Theory being tested.

Just checking daily charts for the majors, it is amazing that Dow and S&P are already back over all of the important moving averages. IWM below the 50 and QQQ below the 20, both by a hair. IYT will come along if we break up through this 3-wk range. SPY contained so far, barely, by a rising channel evident on 5 min chart extending back almost 2 days. Watching top of that channel, and VWAP for some clues.

metals, in particular gold coming up on some resitance at 1664, could be a nice swing play over the next month or two

 

 

UPS missed by a few cents and the stock is down 3 !/2%

 

 

Yep, theres the culprit

 

Apple $586ish sometime next week? Call me CRAY for not being bullish on it right here

 

 

I keep looking at CDE for a swing trade. I might pull the trigger here.

 

You CRAY, man.

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You want to talk divergences... transports attempting self-mutilation right now... pushing for -2%. Sick.

someone throw some Tom Petty - Free Falling on for Apple and its bullish fan club, $10 off its highs now

 

 

Thing is the volume is not a free-fall sell job by any means.  I just can't tell whether it's gonna get a flush before big money jumps back in ..... or it's just gonna squeeze at a moment's notice when bulls decide there's no real selling.

 

 

yea its a controlled sell but still everyone was soo bullish thinking we going to da moon again.

 

I got 599.50-600.50 to see if they can flush to there and bounce it short term. i still think 586 is in the cards in the next few trading days

 

 

Based on the previous top trend line that had been in play on the 60min before the gap up ..... as well as the 150ema .... I can see why you might like 586.  There's a supply test though at the 599 mark.

Bought UVXY at 13.54

AAPL looks like a decent short here down to 592 stop above 607.35 (current 605)

had to close my $138's this morning for break even luckily.  $137's i had to eat loss on.. played some AAPL for quick scalps that worked today. 

 

just picked up very small $139 SPY puts ahead of GDP data 2mrw... too scared to go big either short or long for now