10.13.2010

Oct 14 - Thurs

Milestone Financial Investments L.L.C.
  • The Dow Jones Industrial Average ends up sharply, at its best level since May 3, though off the top mark of the day as Wall Street bulls embrace mostly positive earnings news and expectations for more Fed action to spur growth.
  • Richmond Federal Reserve Bank President Jeffrey Lacker Wednesday said the country's 12-month inflation rate is "now on target," and cautioned that tilting central bank policy toward expanding employment could ultimately fuel disastrous price instability.
  • Richmond Federal Reserve Bank President Jeffrey Lacker Wednesday said he would hesitate before boosting the money supply because it's not clear such a policy would lift the economy out of the doldrums.
  • Gold futures settled above $1,370 for the first time Wednesday as heightened expectations of Federal Reserve money printing and wider-reaching concerns about global monetary easing increased the metal's allure as not only a dollar hedge but also a broader alternative currency.
  1. APOL = 49.50, -10% ah's, 46.3 - 42 area
    • Q4 Revenue up Over Year Ago Levels, Withdraws Outlook 
    • The aggressive sell momentum recorded in APOL shares tonight, combined with a strong tendency to add to earnings-driven declines in next-day trade would have us looking at a short play on the issue tomorrow. Early shorts may want to target potential entry points between 45 and 44, levels that stood as a hard ceiling late in the first-half tonight. It's likely, however, that APOL starts the day closer to the 43 to 42 levels tomorrow so more risk tolerant shorts may want to sit closer to the 43.60 to 42.80 area, levels that set up as a second-half ceiling tonight and where there may be room to play the issue to fresh near-term lows.
    • I'd be looking for any strength to short this stock tomorrow.
  2. UFPI = 31.56, -10%, 28-26
    • Q3 Earnings Down from Year Ago Levels, Sees Challenging Conditions Through 2010 
  3. ZAGG = 5.12, +30%, 6.5-6.9
    • Raises Guidance; Now Expects Q3 Revenue Growth of 70% vs. Previous 30% Guidance 
    • A pre-bell open Thursday may have potential near 6.50 to 6.60. Buyers established what looked to be a firm floor tonight at 6.20 to 6.40, levels longs may want to eye through the early going tomorrow for possible pops back into the mid-6s. More risk tolerant longs may want to goose the entry closer to 6.50 in anticipation of the stock perhaps starting the day closer to this level and making a run at the higher 6s.
    • Try to get on the lower end of this range and long some shares.
  4. MGM = 12.10, flat ah's
    • closed the regular session down 11.1%, extending a 6.1% pre-market decline seen after Soleil reversed an upgrade from about a month earlier, now giving MGM a Hold rating vs. Buy.
    • share offering at 12.65
    • News is hovering around this stock trying to get it back up, but I'm short until otherwise. 
  5. HRB = 13.69, 13.7-13.9
    • Buying TaxAct for $287.5 Mln Cash, Seen Accretive to FY 2011 Earnings 
  6. TSLA = 20.54, 20.85-21.35
    • Discloses Deal with Toyota to Develop Electric Powertrain System for RAV4    
    • Evening indications would suggest TSLA records a potential pre-market open Thursday in the 20.80 to 21 range. With the aggressive selling recorded late tonight we suspect there could be some added downside pressure in the shares that could perhaps punch it it south into the mid- to higher-20s. Longs may want to be cautious on an upside bet until a firmer floor support gets established tomorrow. We're inclined to watch the 20.80 to 20.90 area at the start tomorrow as there could be some early day interest here that could see attempts to climb back toward 21.   
    • I like Tesla, but I think you get some sellers at 22.
  7. UCO = 10.84,
    • Crude Futures, Related ETFs Gain After API Data Show Unexpected Oil Inventory Decline. 
    • Not much movement ah's, but did find it interesting that inventories were down, this should prop the stock up, I'm looking to long its counterpart SCO off of this strength. 
  8. YHOO very solid break ah's, 16.09-17.25 range, looking for more tomorrow.
  9. GROW Gearing for breakout of resistance 8.75, support is 8.25, look for ichimoku cloud cover, push breakout.  
  10. EXAS u cant tell from this chart but this thing got a crazy pop and drop ah's. $open your mind.
    • JOBS, VHC, RVBD, MOTR, BORN, LDK, CCIH, AIR, MSFT...some to watch, they moved pretty solidly today. 
    • SIRI 3rdquarter newsubscriber growth 3x n third quarter &announced plans 2sell up 2$550 million in 8year notes
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