Miles J. Stoner, @StockHollywood

Dallas, Texas

7.05.2010

Preview July 6

Milestone Financial Investments - "Realtime Intraday Scalping Alerts at their Finest."
  • Stocks Go from Negative to Positive and Back in Last 15 Minutes; Dow Losing Streak at 9700.
  • U.S. stocks dropped Friday, capping a bruising week, as disappointing jobs data fueled worries about a second half slowdown in the economy.
  • In afternoon trading, the euro was at $1.2541 , up 0.2 percent on the day. The single currency rose as high as $1.2613 -- the first time over the 1.2600 level since May 21.
  • U.S. crude oil futures fostered losses Monday, with crude for August delivery down 62 cents to $71.52 a barrel. The commodity continued trading Monday as the rest of the New York Stock Exchange took a hiatus for Independence Day. Monday's and Tuesday's trading sessions will be combined into a single settlement price on July 6. Crude-oil futures on Friday fell to their lowest level in nearly a month, a lackluster end of a week that brought oil down 8.5%. It was the biggest drop in eight weeks. Crude oil future prices have been struggling on concerns over the economy and the demand for fuel. Possible add of UCO if this drops any further, say 70$ a barrel, otherwise SCO for the scalp would be good gain.
  • US Small Caps Post Longest Losing Streak of Year.
  1. Cirrus Logic Inc. (CRUS:$15.58,00$0.58,003.87%). Expected to report Q1 2011 results on July 21, 2010. 
    • Cirrus was holding steady around the $17-mark, until the mkt had its significant pullback, which effected this stock, but I believe its a good long, on of your safest longs as of now. If mkt cooperates CRUS will be back to $17+ in no time. Jim Cramer says its $20 stock, this was weeks ago, maybe his point of view has changed, but $17 from mid 15's is a nice gain. Long.
  2. The Procter & Gamble Company (PG:$59.38,00$-0.16,00-0.27%) announced today that it has completed its acquisition of the Ambi Pur Brand from Sara Lee Corporation (SLE:$13.99,00$-0.03,00-0.21%) for euro 320 million. 
    • Sara Lee is sure to get a pop from this big sale, also insider buy from CEO was 18k @ 13.51, but keep an eye on PG for positive raise in stock price by this deal.
  3. Shares of Garmin Ltd. (GRMN:$29.27,00$-0.53,00-1.78%) traded lower Friday after an analyst downgraded the stock based on competitive pressures and continued economic weakness. 
    • Steady downtrending followed by a downgrade from Bank of America/Merrill Lynch analyst Vivek Arya and put the target price to $26 a share from $43. Early short, watch for bottom bounce.
  4. iShares Comex Gold (IAU:$11.8500,$0.1400,1.20%), 
    • Safe Haven bet, seems to hit a low around 11.7, could get a pop into the 12.2 area for a safe bet if mkt is going to continue to decline and act weak with fear.
  5. Research in Motion (RIMM:$48.14,00$-0.66,00-1.35%) reported disappointing quarterly shipments, rekindling worries it is losing market share to Apple.
    • Research in Motion has been downtrending for over 1 month, this 10 day chart shows major declination, short sell it and go long on that short, seems like the iphone & the android are hurting it badly.
  6. Oracle Corp. (ORCL:$21.83,00$0.28,001.30%), MySQL has appealed a decision by the European Union's antitrust regulator to allow Sun's merger with Oracle. Monty Widenius had filed an appeal with a court in Luxembourg but didn't know the grounds for his action.
    • Oracle showing support at 21.25 area, short sell this news and cover at 21.25 area and look to long again, which over a few days could push it back into 23's. Seems the appeal has no legal grounds, but could drop the stock for intraday scalp. Expect good range tuesday.
  7. BP PLC (BP:$29.35,00-$0.04,00-0.14%), is seeking a strategic investor to secure its independence in the face of any takeover attempts, over the weekend were testing an oil-skimming vessel that may help remediate some of the damage. Libya should buy a strategic stake in BP to take advantage of its weak share price
    • BP seems to have reached its low, dont mark my words, at 26 to 27 and may continue upwards as they lock in help from numerous outlets. Long, but intraday scalping wise I'd be short. Could still be more of a reversal as more claims come in and the entire coast is abandoned from vacationers. Alot of uncertainty with the future of this company/stock.
  8. Par Pharmaceutical Companies, Inc. (PRX:$26.25,00$0.16,000.61%) U.S. Food and Drug Administration (FDA) has approved ZuplenzĂ‚® (ondansetron) oral soluble film for the prevention of postoperative, highly and moderately emetogenic cancer chemotherapy-induced, and radiotherapy-induced nausea and vomiting.
    •  Good news, but this is a choppy stock, I'm a bit mixed on which way to play it, I'd say long at first, but more of a long scalp or a short scalp.
  9. Micrus Endovascular Corp (MEND:$21.44,00$0.97,004.74%), is on the rise pre-market as the medical device maker was chosen to replace CKE Restaurants Inc (CKR:$12.53) in the Standard & Poor's SmallCap 600 Index. 
    •  MEND got added and as the chart shows it made a dollar gain, would expect continuation.
    • CKR dropped off S&P 600 and would expect a good short out of this, but for last month it has uptrended, Tuesday could be its day to drop, Short
  10. Arena Pharmaceuticals Inc. (ARNA:$3.86,00$0.30,008.43%), Leerink Swann reportedly Upgraded its rating on the issue to Outperform from Market Perform.  UBS. Reiterated rating Buy. Heavy volume of 9,822,385 shares.
    • This 5 day chart shows they hung around $3 until upgrades and reiterations positive on the issue. Arena has a Phase 3 Trial drug designed to fight obesity could get approval sending shares higher. With market cooperation this stock could make nice gains, Long.
  11. The United States District Court for the Southern District of California has preliminarily approved the proposed settlement of a shareholder derivative suit pending on behalf of Leap Wireless International Inc. (LEAP:$12.17,00$-0.37,00-2.95%).
    • Leap wireless decision is in favor of company so maybe this downtrending stock will get a pop and you can long it or short the pop and wait for a, most likely, larger gain. 
  12.  Bailed-out lender Lloyds Banking Group (LYG:$3.31,00$0.08,002.48%) has agreed to sell its private equity business to buyout firm Coller Capital, accelerating its plan to offload peripheral units and refocus on its core lending activities.
    •  I like the idea that they want to focus on their core lending, this, to me, is similar to what C is trying to do, trim the fat and get back to what worked in the first place, Long. 
  13. News Corp (NWSA:$11.82,00$-0.09,00-0.76%) is in talks with Google Inc (GOOG:...) , Microsoft Corp (MSFT:...) and Yahoo Inc (YHOO:$14.07,00$-0.02,00-0.14%) about advertising on MySpace, as an existing contract with Google (GOOG:...) ends.
    •  News Corp deal could really boost stock up for good if it does in fact go through. Speculation alone could move it into the 12 area, with an eye on 12.5 to 12.75 being the Long play.
      MONDAY, July 5
      • U.S. Markets Closed for Holiday, that sucks...I'm tryna make money.
      TUESDAY, July 6
      • Extended-Hours Earnings: None.
      • Economic Data: 10 a.m. ISM Services.
      WEDNESDAY, July 7
      • Extended-Hours Earnings: FDO, KED, WDFC.
        •  Family Dollar Stores, Inc. (FDO:$38.62,00$-0.13,00-0.34%),  recently down 93c to $38.17. 5 day chart got a little life
      • Economic Data: 10:30 a.m. Crude Inventories.
      THURSDAY, July 8
      • Extended-Hours Earnings: SHLM, CAMP, HELE, ISCA, NUHC, PENX, PRXI, GBX, LWSN.
        • On May 24, Icahn said he acquired an 8.54 stake in Lawson Software Inc (LWSN:$7.30,00$-0.05,00-0.68%)
      • Economic Data: 8:30 a.m. Initial Claims; 3 p.m. Consumer Credit.
      FRIDAY, July 9
      • Extended Hours Earnings: ROX.
      • Economic Data: 10 a.m. Wholesale Inventories.
      Company                                 Symbol         Quarter         Mean        Report Time


      Tuesday
      Greenbrier Cos.                         (GBX)             3Q             (.02)

      Wednesday
      AAR Corp.                                (AIR)               4Q             .29
      BioMimetic Therapeutics Inc.     (BMTI)            2Q             (.38)
      Cellu Tissue Hldgs Inc.               (CLU)             1Q              .02              AMC
      DragonWave Inc.                       (DRWI)           1Q              .23              AMC
      Family Dollar Stores Inc.             (FDO)             3Q              .76              BMO
      Hi-Tech Pharmacal Co. Inc.        (HITK)            4Q              .55
      Kayne Anderson Energy Devt Co.(KED)            2Q              .35              AMC
      Mercantile Bank Corp.                 (MBWM)       2Q              (.33)
      WD-40 Co.                                  (WDFC)         3Q               .42            4:00PM

      Thursday
      A. Schulman Inc.                        (SHLM)           3Q                 .41             BMO
      Bank of the Ozarks Inc.               (OZRK)           2Q               .56
      Helen of Troy Corp.                   (HELE)               1Q              .57             BMO
      Intl Speedway Corp.                   (ISCA)               2Q              .29
      Intl Speedway Corp.                   (ISCB)               2Q              .29
      Lawson Software Inc.                  (LWSN)            4Q              .11               AMC
      Progressive Corp.                         (PGR)               2Q              .36
      • Progressive Corp. (PGR:$18.62,00$-0.03,00-0.16%), like the company and think they will have positive earnings, that usually means short the stock, but its been so beat up that I'd say go long around 18.5 or watch for dips into 18 area for longs.
      Friday
      Green Plains Renewable Energy   (GPRE)               2Q               .38
      • Green Plains Renewable Energy, Inc. (GPRE:$9.90,00$-0.27,00-2.65%), no real reason, but the fact that renewable energy has done well lately, this stock didn't get murdered as mkt dropped, but was choppy, good scalper here.
      PriceSmart Inc.                             (PSMT)             3Q               .35
      Samsung Electronics Co. Ltd.       (GDR)                2Q              10.48