Category Archives: Weekly/After Stock Market Review Archives

Every Sunday evening a full market review is sent to members of SelfInvestors.com which provides commentary on the technical and economic picture, a review of the SelfInvestors Model Portfolio, the best/worst performing industries and ETF’s for the week, IPOs to watch, upcoming economic reports as well as notable earnings reports. In addition, on days when the market makes a significant move I’ll highlight the technical action discussing price/volume movements and support/resistance levels, industries/sectors leading and lagging the market as well as a Stock of the Day. In the past these were sent in the middle of the trading day but I’ve since begun publishing them and sending them to members after the market closes. These reports will be archived here as well.

Avalanche of Economic Data Looms; Utilities Break Down; Hot Solar IPO – LDK Solar

With two more days of distribution last week and 5 total over the past two weeks, the market is changing character and ripe for consolidation/correction.  The bulls made another impressive stand on Friday as bears were not able to follow through on Thursday’s fairly intense selling, but the light, pre-holiday trading volume rendered the move insignificant.  We’ll have to wait until later next week as trading volume returns to more normal levels and an avalanche of ecomonic reports hit the market.  For now, it appears the bulls are beginning to run out of gas.  As we head into a historically weak period of the market, now is not a bad time to be sitting on a large cash position waiting for the next round of opportunities to emerge.

::: Model Portfolio Update :::

With the long awaited deterioration of the market setting in a bit, I positioned the portfolio to be more aggressive position on the short side (total allocation 35% on the short side) this week with 4 new small short positions.  During the week, 2 positions were closed for losses – one short position covered in BKS for a 10% loss and a long position in COGO closed quickly for a 5% loss after dropping below support of the 50 day moving average.  I will most likely sit with a 35% short position and look to add more long positions on any significant selling in the market.  I’m currently only 31% on the long side with a significant (34%) cash position.  After leaning the wrong way for much of the past several weeks, I’m still looking to get back in synch with this market after a strong performance in the first few months of the year.  With the YTD performance at 4% (compared to 6.9%), I’ve got my work cut out for me in the latter half of the year.

::: Best/Worst Performers :::

– Top 10 Performing Industries For the Week –

1. Gaming Activities: 6.05%
2. Resorts & Casinos: 4.95%
3. Long Distance Carriers: 4.95%
4. Computer Based Systems: 4.90%
5. Toy & Hobby Stores: 4.30%
6. Drug Delivery: 4.30%
7. Residential Construction:  4.05%
8. Building Materials & Wholesale: 3.20%
9. Pollution & Treatment Controls: 3.15%
10. Copper: 3.10%

– Top 10 Worst Performing Industries For the Week –

1. Diversified Utilities: -4.05%
2. Electric Utilities: -3.85%
3. Semiconductor – Broadline: -3.50%
4. Tobacco Products: -3.25%
5. Department Stores: -2.90%
6. Data Storage Devices: -2.90%
7. Silver: -2.70%
8. Auto Parts Stores: -2.20%
9. Electronics Wholesale: -2.10%
10. Publishing – Periodicals: -2.05%

– Top 5 Best Performing ETFs For the Week –
 
1. Chile Fund (CH)  7.80%
2. PowerShares Agriculture (DBA) 4.50%
3. Ishares Home Construction (ITB) 3.25%
4. SPDR Homebuilders (XHB) 2.60%
5. Powershares Clean Energy (PBW) 2.50%

– Worst 5 Performing ETF’s –

1. Herzfeld Caribbean Basin (CUBA)  -5.70%
2. Powershares Dynamic Utilities (PUI) -4.20%
3. SPDR Utilities (XLU) -4.05%
4. Ishares Utilities (IDU) -4.00%
5. HLDRS Utilities (UTH) -3.90%

:::  IPO’s Worth Watching for This Week :::

Seems like a new solar related IPO hits the market every week and LDK Solar is another one that should generate significant interest.

1. LDK Solar (LDK): The company, via subsidiary Jiangxi LDK Solar, turns polysilicon into multicrystalline wafers, which are used in the construction of solar cells and solar modules. The company’s wafers are between 180 and 240 microns thick. It also provides wafer processing services to solar cell makers and sells polysilicon scrap. LDK uses virgin polysilicon and recycled material in its production process; it’s capacity is about 215 megawatts (MW) annually. Major customers include Canadian Solar, Chinalight Solar, Solarfun Power, and Solland Solar though most of the company’s revenues come from Chinese buyers. Founder Xiaofeng Peng owns about 83% of LDK.   Set to start trading on Friday.

2. Response Genetics (RGDX): Founded in 1999, the company develops technology used in a variety of clinical diagnostic tests for treating cancer. Its products remove and analyse genetic information from about 30,000 genes taken from cancer tumor samples. The tests help predict a patient’s response to chemotherapy and recovery from surgery, as well as the potential for cancer recurrence. Among its clients are Eli Lilly, Taiho Pharmaceuticals, and Roche Diagnostics.  Trading set to start on Thursday.

::: Upcoming Economic Reports (5/28/07 – 6/1/07) :::

Monday:        Holiday
Tuesday:       Consumer Confidence
Wednesday:  FOMC Minutes, Crude Inventories
Thursday:      Initial Claims, GDP (prelim), Chicago PMI, Construction Spending
Friday:           Nonfarm Payrolls, Unemployment Rate, Personal Income, Personal Spending
                      Core PCE Inflation, ISM Index, Pending Home Sales, Auto Sales

::: Notable Upcoming Earnings Reports I’ll Be Watching This Week :::

Tuesday: Verifone Holdings (PAY)
Wednesday: Joy Global (JOYG), HEICO Corp (HEIC)

The Selling Was Coming & You Were Ready

::: Today’s Market Action :::

As subtle as it may be, the market always shows its hand.  It rarely plays out the way you think it will or when you think it will (I was a few weeks early), but it plays out… when many traders least expect it.  There have been all kinds of reasons given on CNBC and other investing sites as to why this market will rise higher – everything from more dollars chasing fewer companies (through M&A, which is ridiculous), to everyone expecting the market to correct, to… oh it doesn’t matter.  Why? Because you  are a savvy trader and knew better.   You don’t need to cloud your judgement with the opinions of others.  You relied on what the charts were telling you.  You noticed that this market ran straight up after a severe drop back in February and was getting into considerably overbought territory.  You noticed that 7 out of the past 10 days the S&P500 showed bearish action (which is a good measure of the broad market).  You noticed that the S&P was flirting with previous record closing highs, a significant source of resistance.  Suffice it to say.  You knew better.  You were ready.  You knew the selling was coming.

It’s hard to say just how far we fall from here.  Heck, I suppose this is just the beginning of another quick shakeout like we saw in February but I highly doubt it.  I don’t think the market falls off a cliff, but it’s not going anywhere for awhile.  The important thing is to get out of the way and let it ride out. 

The S&P has broken through its steep upward channel but the Dow has a ways to go before even testing that level (which indicates how overbought it was).  The Nasdaq was never as overextended and it is actually quite close to a critical support area of the February highs and the 50 day moving average (2500 – 2525).  We could hit these levels tomorrow.

Here’s a look at the S&P:

The daily chart shows the break down below the steep upward channel with heavy volume today.

S&P500 trendline break

Here’s a detailed look at the trading action of the past couple weeks, which has shown deteriorating action for the most part.  It began on May 10th with a big day of distribution and continued from there.  Most of the up days occurred with lower volume buying along with a few higher volume reversal days.  All in all, characteristics of a toppy market.  Is it coincidence that we were seeing this kind of action around the previous record closing highs of the S&P.  Not a chance.

I’ll have a look at all the major indices in a report this weekend..

::: Major Indices Performance – The Numbers :::

(Note: volume averages are based on the average over the past 50 days)
Data as of 4:00EST – End of Day May 24th 2007

Distribution across all indices today.

Nasdaq: DOWN 1.52% today with volume 18% ABOVE  average
Nasdaq ETF (QQQQ) DOWN 1.43%, volume 79% ABOVE average
Dow: DOWN .62%, volume 6% ABOVE the average
Dow ETF (DIA): DOWN .60%, volume 187% ABOVE the average
S&P ETF (SPY): DOWN .91%, volume 75% ABOVE the average
Russell Small Cap ETF (IWM): DOWN  1.20%, volume 45% ABOVE the average

::: SelflInvestors Leading Stocks :::

The Self Investors Leading Stocks Index is comprised of stocks in the Breakout Tracker, which is a database of the fastest growing companies near a breakout or having already broken out of a base.  As expected, leading stocks got hit a bit harder then the overall market.

Summary:

* Decliners led Advancers 365to 55
* Advancers were up an average of 1.22% today, with volume 34% ABOVE average
* Decliners were down an average of 2.32% with volume 19% ABOVE average
* The total SI Leading Stocks Index was DOWN  1.85% today with volume 21% ABOVE the average

::: Where’s the Money Flowing :::

Many investing websites provide leading industries based on price performance alone. However, without accompanying volume levels, this can sometimes be misleading.  The only way that I know of to gauge industry/sector strength WITH volume levels is through the analysis of ETF’s.  A couple years ago this was not possible, but as more traders/investors use ETF’s they become a much better tool for gauging the health of the market and seeing where the money is flowing (or not flowing).  Using the proprietary SelfInvestors Demand Indicator score which measures price and volume movements, I’m able to quickly see which sectors/industries are seeing the greatest inflows of cash.  For a detailed look at how I go about gauging sector/industry strength please see the following post: http://selfinvestors.com/si/industry_tracking/

* Current Leading Sectors/Industries (over last 30 trading days): 
Agriculture, Internet, Transports, Networking, Semis, Biotech
                                               
* Current Lagging Sectors/Industries (over last 30 trading days): 
Realty, REIT, Gold Miners, US Oil

* Today’s Market Moving Industries/Sectors (UP):
None

* Today’s Market Moving Industries/Sectors (DOWN):
Gold Miners, Oil & Gas Services, Utilitities, Gold

::: Stocks :::

I’m short on time tonight so no stock of the day, but I will say the RIMM is showing very bullish action.  I’m a big fan of stocks that go up on days like today.  RIMM was just a handful of those.  Keep an eye on it.  It recently broke out from a lengthy consolidation.

Bulls Charge Again; Hot IPO – Clean Energy Fuels (CLNE)

This is a much abbreviated report tonight – I’ve been focused on research, database updates and other projects this weekend.  Full report to resume next Sunday.

On Friday, the market surged higher on more merger mania.  This time it was Microsoft’s desperate attempt to play catch up with Google by shelling out 6 billion for online advertising services company Aquantive.  The move on Friday had conviction behind it and reverses several days of deteriorating action.  The Nasdaq broke out of a short downtrend,  the S&P reclaimed its steep upward channel and the Dow once again move to a new record high.  With more merger/buyout mania being announced just in the past few hours the market will undoubtedly surge again.  Wow.

* Hologic agreed to buy Cytyc for $6.2 billion in cash and stock, in a deal that combines two major players in women’s health care.

* UniCredit agreed to acquire Capitalia in a stock deal valued at $29.7 billion, creating the world’s fifth-largest bank by market value and highlighting the consolidation drive in Europe’s banking sector.

* China plans to invest $3 billion in private-equity firm Blackstone. The landmark deal signals the country’s determination to earn higher returns on reserves and could help restore some equilibrium to its accounts with the U.S

* TPG AND GOLDMAN SACHS are in the final stages of negotiating a purchase of wireless operator Alltel for about $25 billion.

:::  IPO’s Worth Watching for This Week :::

1. Clean Energy Fuels (CLNE): The company operates about 170 gas stations in the US and Canada where its 200 customers can tank up their fleet vehicles with compressed natural gas (CNG) or liquefied natural gas (LNG). Clean Energy also helps customers buy and finance natural gas vehicles and obtain government incentives. The company buys CNG from local utilities and produces LNG at its 35-million-gallon-capacity plant in Texas. Clean Energy plans to use IPO proceeds to build a LNG plant in the Western US and to buy fleet vehicles that it will later sell to customers. Founder and billionaire oilman Boone Pickens owns about 73% of the company.    Trading set to begin on Friday.

2. RSC Equipment Rentals (RRR): RSC Holdings, which operates as RSC Equipment Rental, is one of North America’s top equipment rental firms. RSC supplies heavy equipment to contractors for road construction and commercial and residential buildings. It also serves industrial customers in the petrochemical, pulp and paper, and food and beverage markets. Along with its rental activities, the company sells used equipment and offers related tools, supplies, and support services. Trading set to begin on Wednesday.

3. Greenlight Capital (GLRE): Greenlight Capital Re (Greenlight Re) gives the go-ahead to insurance companies looking to offset their losses. Through operating subsidiary Greenlight Reinsurance, the company sells property/casualty reinsurance, specializing in writing customized contracts in underserved markets, including casualty clash, homeowners insurance in some states (particularly Florida), marine, and property catastrophe. It also provides medical malpractice and workers’ compensation reinsurance.  Trading set to begin Thursday.

4. B & G Foods (BGS): manufactures, sells and distributes a diverse portfolio of shelf-stable food products across the United States, Canada and Puerto Rico. The CompanyGÇÖs products include hot cereals, jams, jellies and fruit spreads, canned meats and beans, spices, seasonings, marinades, hot sauces, wine vinegar, maple syrup, molasses, salad dressings, Mexican-style sauces, taco shells and kits, salsas, pickles, peppers and other specialty food products. It distributes these products to retailers through a direct-store-delivery sales and distribution system and through a nationwide network of independent brokers and distributors. The CompanyGÇÖs principal brands include Ortega, Cream of Wheat, Las Palmas, Polaner, Regina and All Fruit.  Trading set to begin on Wednesday

5.  Starlims Technologies (LIMS): leading provider of laboratory information management systems, or LIMS and have over 20 years experience in the LIMS market.  They develop, market and sell configurable off-the-shelf LIMS software solutions trade-named STARLIMS®. STARLIMS manages the collection, processing, storage, retrieval and analysis of information generated in laboratories. The software improves the reliability of sampling processes, supports compliance with domestic and international regulations and industry standards, and provides comprehensive reporting, monitoring and analysis capabilities.  One of the first LIMS vendors to offer a true web-based, configurable off-the-shelf, LIMS solution, which enables its customers to manage their globally distributed laboratories more efficiently and effectively.  Trading set to begin on Thursday.

::: Upcoming Economic Reports (5/21/07 – 5/25/07) :::

Monday:        None
Tuesday:       None
Wednesday:  Crude Inventories
Thursday:      Initial Claims, Durable Orders, New Home Sales
Friday:           Existing Home Sales

::: Notable Upcoming Earnings Reports I’ll Be Watching This Week :::

Tuesday: GigaMedia (GIGM), American Eagle Outfittes (AEOS), Global Sources (GSOL), The9 Limited (NCTY)

Wednesday: Network Appliance (NTAP), Abercrombie & Fitch (ANF), Ansoft (ANST), Dick’s Sporting Goods (DKS), Zumiez (ZUMZ)                                                     
                    
Thursday: CitiTrends (CTRN)

Billionaires Buoy Buying; Stock of Day – Copa Holdings (CPA)

Following yesterday’s big reversal with heavy volume, it finally looked like this market was ready for a sustained bout of selling.  Typically, that kind of downward momentum leads to further deterioration the next day, or at best a flat day.  But in yet another surprising surge, the bulls continue to put up a fight.  It seems that the market just continues to look for an excuse to push higher.  This time around the excuse to buy seemed to be news of some billionare buying in Citigroup and J&J from the likes of Eddie Lampert and Warren Buffett. 

Technically, the volume behind today’s move indicated decent conviction, but it wasn’t enough to indicate accumulation or completely render yesterday’s move as meaningless.  Based on volume levels over the past couple weeks, the strength of this market continues to weaken.  That doesn’t mean it can’t continue to move up a bit longer (after all, the Dow did make another record high and the S&P did reclaim its upward channel), it just means it will pay to be very cautious up here.  The extreme volatility over the past several trading sessions indicate instability and I’m certainly not going to make aggressive bets on either side until it settles down.

::: Major Indices Performance – The Numbers :::

(Note: volume averages are based on the average over the past 50 days)
Data as of 4:00EST – End of Day May 16th 2007

Today’s move had volume behind it but not enough to signal a day of accumulation.

Nasdaq: UP .88% today with volume 4% ABOVE  average
Nasdaq ETF (QQQQ) UP .98%, volume 34% ABOVE average
Dow: UP 77%, volume 6.5% ABOVE the average
Dow ETF (DIA): UP .75%, volume 59% ABOVE the average
S&P ETF (SPY): UP .68%, volume 6% ABOVE the average
Russell Small Cap ETF (IWM): UP  .56%, volume 61% ABOVE the average

::: SelflInvestors Leading Stocks :::

The Self Investors Leading Stocks Index is comprised of stocks in the Breakout Tracker, which is a database of the fastest growing companies near a breakout or having already broken out of a base.  Leading stocks lagged the performance of the leading indices and volume was considerably heavier in down stocks today.

Summary:

* Advancers led Decliners 265 to 162
* Advancers were up an average of 1.57% today, with volume 2% ABOVE average
* Decliners were down an average of 1.42% with volume 16% ABOVE average
* The total SI Leading Stocks Index was UP .44% today with volume 7% ABOVE the average

::: Where’s the Money Flowing :::

Many investing websites provide leading industries based on price performance alone. However, without accompanying volume levels, this can sometimes be misleading.  The only way that I know of to gauge industry/sector strength WITH volume levels is through the analysis of ETF’s.  A couple years ago this was not possible, but as more traders/investors use ETF’s they become a much better tool for gauging the health of the market and seeing where the money is flowing (or not flowing).  Using the proprietary SelfInvestors Demand Indicator score which measures price and volume movements, I’m able to quickly see which sectors/industries are seeing the greatest inflows of cash.  For a detailed look at how I go about gauging sector/industry strength please see the following post: http://selfinvestors.com/si/industry_tracking/

* Current Leading Sectors/Industries (over last 30 trading days): 
Internet, Networking, Semis, Aerospace/Defense, Biotech
                                               
* Current Lagging Sectors/Industries (over last 30 trading days): 
Internet Infrastructure, Miners, Oil

* Today’s Market Moving Industries/Sectors (UP):
Transports, Internet Infrastructure, Health Care Providers, Telecom, Financial, Health Care

* Today’s Market Moving Industries/Sectors (DOWN):
Gold Miners, Gold, Realty, Commodities

::: Stocks :::

The stocks section will be an area where I highlight one stock selected from a group of stocks moving up with volume well above average and most likely breaking out of a base or consolidation.  Today’s stock is Panamanian airliner Copa Holdings (CPA) – it broke out of a base today to a new all time high with near record volume.

ABOUT:  Copa Holdings, S.A. (Copa Holdings) is a provider of international airline passenger and cargo service. It offers approximately 92 daily scheduled flights among 30 destinations in 20 countries in North, Central and South America and the Caribbean from its Panama City hub. The Company provides passengers with access to flights to more than 120 other destinations through code share arrangements with Continental Airlines, Inc. (Continental), pursuant to which each airline places its name and flight designation code on the other’s flights. On April 22, 2005 the Company acquired AeroRepublica S.A. (AeroRepublica), a Colombian air carrier providing point-to-point service among 12 cities in Colombia and to Panama City. AeroRepublica operated a fleet of seven leased MD-80s and two owned DC-9s. As of December 31, 2005, Copa Holdings fleet consists of 22 Boeing 737-Next Generation aircraft, two Embraer 190 aircraft, 11 MD-80 aircraft and two DC-9 aircraft.

FUNDAMENTALS: After losing money in 2000, Copa Holdings has since reeled off 6 straight years of very impressive earnings growth – 37% in ’01, followed by growth in the following years of 135%, 41%, 21% and 60% last year.  In ’07, the company is expected to increase earnings by another 34% so the future contiues to look bright.  Net margins are very good and well ahead of the industry average at around 16%, while return on equity (ROE) is an oustanding 43% and rising,  If there is a negative, it’s the amount of debt the company carries which is considerably higher than other airliners (however, it has been decreasing over the years).

TECHNICAL:  CPA broke out of a cup with handle base today with near record volume to a new all time high.  That’s the good news.  The bad news is that sell volume in the left side of the base is very heavy.  Given the incredible run the stock had last year when it tripled in price, it’s not too suprising to see that kind of sell volume in the left side, but it does lend a little doubt to the success of this breakout.  What I did is leave the breakout alone and am looking for a light volume pull back to the 64 – 65 range, essentially make the stock prove to me it can hold this breakout before initiating a position.  Despite last year’s run, I believe there is still some room to run in this stock given the fact this is just a second stage base.  It won’t triple again, but don’t be suprised to see it move another 20 – 40% over the next year.

SELFINVESTORS RATING: With a total score of 50/60 (27/30 for fundamentals, 23/30 for technical), Copa Holdings (CPA) is an excellent breakout stock opportunity.

***********
Want to easily discover these opportunities before they breakout?  Get yourself a premium membership to SelfInvestors.com.  You can still get all the tracking features for the low introductory price of $19.95 (Silver Membership)

Upgrade your membership today!     Or new members may sign up here
***********

Full Disclosure/Disclaimer: The stock of the day is by no means a buy recommendation.  Please do your own research and make a personal decision based on your own tolerance for risk.  I currently do not own a position in Copa Holding (CPA)

Market Rally Hinges on Rate Cut; Hot Solar IPO – China Sunergy (CSUN)

With earnings season all but over, the focus has turned to the economy and traders are looking for any indication that the Fed will cut rates which would undoubtedly send this market even higher – in other words a cooling economy, but not too cool and tame inflation readings.  On Thursday, same store retailer readings were much cooler than expected which contributed to the sharp, higher volume drop and breach of support levels. Considering the market closed at the lows of the day, momentum would have you believe that Friday could have been ugly as well.  However, tame PPI data gave traders hope that a weakening economy and tame inflation just might lead to a rate cut and bulls managed to recoup nearly all over Friday’s losses.  The never ending M&A mania helped a bit too :). 

From a technical standpoint, even though the indices closed with minor gains for the week, I still consider it a week of deteriorating technicals.  Waning volume on the buy side culminated in a large volume drop below first level support in the S&P and Nasdaq.  Yes, the fact that there wasn’t any selling follow through on Friday is a positive for bulls, but keep in mind that there was little conviction behind Friday’s move and first levels support lines are still busted.

I think this week will be key and should provide us with clues as to when we can expect some sort of consolidation in this market.  We get CPI on Tuesday and Housing Startes on Wednesday.  Both could be market movers.  I still think it pays to be extremely cautious right now! 

::: Model Portfolio Update :::

It’s been  the same old story with the Model Portfolio.  I continue to sit largely in cash and that has hurt my performance, but I’m not going to chase this market for fear of "being left out".  I’m remaining patient for the right time to get more aggressive and that time isn’t now.  During the week I closed out 4 Quick Strike profit positions (3 ahead of their earnings reports) – AKRX (6%), HGR (-2%) and one core holding in a top semiconductor play – TrioTech (TRT) for a small gain of 1%.  As I almost always do with these unproven small caps, I sold TRT ahead of earnings.  The stock has soared over 30% since.. doh!!  I’m not about to abandon that strategy though.  It has saved my ass several times.  I did however make the rare exception and decide to hold KOG through earnings because of the tremendous buying demand over the past few months as well as the large number of institutions intiating positions (including the legendary Steven Cohen).  When the stock didn’t pop at the open, but dipped below short term support, I decided to lock in my 13% gain.  However, by the end of the day, the stock reversed sharply, keeping the bullish pennant formation intact.  I’m considering re-initiating a position soon. 

Those "ahead of earnings" closed positions were replaced with two new QSP positions and a core position in a stock that has been listed atop the breakout stock watch screens on several occassions over the past year.  Overall, the portfolio dipped this week and for the first time in a long time the YTD  performance (5.5%) has dipped below that of the S&P500 which stands at 6.2%.  The current allocation of the portfolio stands at 34% long, 13% short and 53% cash.

::: Best/Worst Performers :::

– Top 10 Performing Industries For the Week –

1. Aluminum: 14.05%
2. Heavy Construction: 11.40%
3. Nonmetallic Mineral Mining: 5.05%
4. Recreational Goods: 4.60%
5. REIT – Residential: 3.80%
6. Steel & Iron: 3.65%
7. Metal Fabrication:  3.25%
8. Personal Computers: 3.20%
9. Copper: 3.15%
10. Drugs – Generic: 2.75%

– Top 10 Worst Performing Industries For the Week –

1. Food Wholesale: -6.95%
2. Multimedia & Graphics: -4.45%
3. Dairy Products: -3.60%
4. Medical Equipment Wholesale: -3.35%
5. Music & Video Stores: -3.15%
6. Major Airlines: -2.55%
7. Computer Peripherals: -2.55%
8. Sporting Goods Stores: -2.50%
9. Grocery Stores: -2.30%
10. Industrial Equipment Wholesale: -2.20%

– Top 5 Best Performing ETFs For the Week –
 
1. PowerShares China (PGJ)  5.20%
2. Ishares China (FXI) 4.35%
3. Ishares South Korea (EWY) 3.20%
4. Korea Fund (KF) 2.20%
5. Chile Fund (CH) 2.10%

– Worst 5 Performing ETF’s –

1. Herzfeld Caribbean Basin (CUBA)  -10.25%
2. HLDRS Biotech (BBH) -3.90%
3. Germany Fund (GF) -3.55%
4. Ishares Biotech (IIB) -3.30%
5. Central Fund of Canada (CEF) -2.65%

:::  IPO’s Worth Watching for This Week :::

Yet another China solar IPO this week!

1. China Sunergy (CSUN): leading manufacturer of solar cell products in China as measured by production capacity. Manufactures solar cells from silicon wafers utilizing crystalline silicon solar cell technology to convert sunlight directly into electricity through a process known as the photovoltaic effect. Products are sold to Chinese and overseas module manufacturers and system integrators, who assemble  solar cells into solar modules and solar power systems for use in various markets. Trading set to begin on Friday.

2. Skilled Healthcare Group (SKH): a leading support services provider to the long term care profession. Through their administrative and support services network, they provide direct support to 61 skilled nursing facility and 12 assisted living facility business affiliates. These locations comprise over 8300 licensed beds. They also provide administrative and support services to Hallmark Rehabilitation, Inc. and Hospice Care of the West, LLC.  Trading set to begin on Tuesday.

3. CAI International (CAP): one of the world’s leading intermodal freight container leasing and management companies. Intermodal freight containers are large, standardized steel boxes, which they lease primarily to international steamship companies, and are used to transport cargo by a number of means, including ship, truck and rail. A portion of the container fleet is owned by CAI with the balance being owned by third parties on whose behalf they manage the containers. Business is operated in two segments: container leasing and container fleet management. Through an international network of offices and agents an active after-market program was developed for containers retired from the international shipping fleet.  Trading set to begin on Wednesday.

4. TechTarget (TTGT): publishes online content that "brings together buyers and sellers of corporate IT products". The company publishes 35 Web sites, each of which focuses on a specific IT sector, such as storage, security or networking. TechTarget also hosts events and conferences and publishes a small number of IT-related magazines. The company has more than 1,000 active advertisers, including Microsoft Corp. (Nasdaq: MSFT), EMC Corp. (NYSE: EMC) and IBM Corp. (NYSE: IBM), according to the statement. Trading set to begin on Thursday.

::: Upcoming Economic Reports (5/14/07 – 5/18/07) :::

Monday:        None
Tuesday:       CPI
Wednesday:  Housing Starts, Building Permits, Capacity Utilization, Industrial Production, Crude In.
Thursday:      Initial Claims, Leading Indicators, Philly Fed
Friday:           Mich Sentiment

::: Notable Upcoming Earnings Reports I’ll Be Watching This Week :::

Monday: Canadian Solar (CSIQ), Aircastle Limited (AYR)

Tuesday: MIndray Medical (MR), Companhia Paranaense de Energia (ELP)

Wednesday: Copa Holdings (CPA)                                                     
                    
Thursday: Focus Media (FMCN)

Friday: None

Earnings and M&A Can’t Save the Day; Force Protection (FRPT) Breakout

Without solid earnings reports and daily M&A activity to temper the less then desirable flow of economic data, the bulls were, for the first time in several weeks, unable to stem the flow of selling pressure late in the day.  The tone was bearish early as April same store sales came in much lower than expected.  Sales were expected to be weak due to unusually cold weather and higher oil prices, but not at the lowest levels since this data began being tracked.  Add to that higher import prices and a widening trade deficit and it’s no wonder that traders scrambled to lock in profits in this overbought, over hyped market. 

From a technical standpoint, we certainly saw a change of character today.  Over the past several weeks, early (sometimes fairly intense selling) was rendered meaningless by the end of the day as buyers came in on every dip.  It almost felt like you could throw technical analysis out the window.  However, that kind of action can’t be sustained and the selling that should have taken place much sooner kicked in today after several consecutive days of waning buy volume.  The market was ready for selling, it just needed a catalyst.  Looking at support and volume levels, it wasn’t an ugly day but the selling was enough to indicate that further deterioration is highly likely.  Both the Nasdaq and S&P took out their short term upward trend lines (the Nasdaq with heavy volume).  Next levels of support to keep an eye on are Dow 13,000, S&P 1460 and Nasdaq 2500 – 2525.

You see the Nasdaq broke its short term trend line with heavy volume.  The next area of support is around previous highs around 2525 but given the downward momentum of today’s move, it’s likely to break through that level as well.  A drop to around 2500 is probably more likely.

nasdaq breaks trendline

The chart of the Dow illustrates how overbought it was and how far it has to go just to get to the first level of support at the short term trend line – another 200 point or so.  I think it’s a given that it will at least test this level although notice the sell volume wasn’t particularly intense today.  In my opinion, another day like today would provide a great point to get into a few long positions (i’ve been largely in cash in the last couple weeks)

dow above  trend line
The S&P broke a trend line of its own today, but volume levels didn’t indicate that institutions were dumping stocks.  That doesn’t mean we’re not headed lower though.  With the market closing near the lows of the day and short term support taken out, we probably have another 20 – 30 point to go in the S&P before I’ll get excited on the long side again.

s&p breaks trend line

::: Major Indices Performance – The Numbers :::

(Note: volume averages are based on the average over the past 50 days)
Data as of 4:00EST – End of Day May 10th 2007

Distribution across all indices today.

Nasdaq: DOWN 1.65% today with volume 8% ABOVE  average
Nasdaq ETF (QQQQ) DOWN 1.37%, volume 52% ABOVE average
Dow: DOWN 1.11%, volume 2% BELOW the average
Dow ETF (DIA): DOWN .80%, volume 36% ABOVE the average
S&P ETF (SPY): DOWN 1.05%, volume 33% ABOVE the average
Russell Small Cap ETF (IWM): DOWN  1.31%, volume 51% ABOVE the average

::: SelflInvestors Leading Stocks :::

The Self Investors Leading Stocks Index is comprised of stocks in the Breakout Tracker, which is a database of the fastest growing companies near a breakout or having already broken out of a base.  Leading stocks got hit fairly hard today but the selling volume wasn’t particularly intense.

Summary:

* Decliners led Advancers 372 to 50
* Advancers were up an average of 1.46% today, with volume 60% ABOVE average
* Decliners were down an average of 2.29% with volume 8% ABOVE average
* The total SI Leading Stocks Index was DOWN  1.84% today with volume 14% ABOVE the average

::: Where’s the Money Flowing :::

Many investing websites provide leading industries based on price performance alone. However, without accompanying volume levels, this can sometimes be misleading.  The only way that I know of to gauge industry/sector strength WITH volume levels is through the analysis of ETF’s.  A couple years ago this was not possible, but as more traders/investors use ETF’s they become a much better tool for gauging the health of the market and seeing where the money is flowing (or not flowing).  Using the proprietary SelfInvestors Demand Indicator score which measures price and volume movements, I’m able to quickly see which sectors/industries are seeing the greatest inflows of cash.  For a detailed look at how I go about gauging sector/industry strength please see the following post: http://selfinvestors.com/si/industry_tracking/

* Current Leading Sectors/Industries (over last 30 trading days): 
Semiconductors, Internet, Networking, Biotech, Pharma
                                               
* Current Lagging Sectors/Industries (over last 30 trading days): 
Internet Infrastructure, Oil

* Today’s Market Moving Industries/Sectors (UP):
None

* Today’s Market Moving Industries/Sectors (DOWN):
Biotech, Gold Miners, Homebuilders, Internet, Gold

::: Stocks :::

The stocks section will be an area where I highlight one stock selected from a group of stocks moving up with volume well above average and most likely breaking out of a base or consolidation.  Believe it or not, there was one shining star on the long side today – a big breakout in Force Protection (FRPT).  I’ve been discussing it in the live trading room recently and will do a case study on how I traded it for a big profit very soon.

ABOUT:  Force Protection, Inc. designs, manufactures and markets blast and ballistics armored vehicles for sale to military customers. The Company’s specialty vehicles are protected against landmines, hostile fire and improvised explosive devices referred to as roadside bombs. Force Protection, Inc. produces three blast-protected vehicles: the Buffalo series, the Cougar series and the Cheetah series. The Company’s facility, located 10 miles from the Charleston Air Force Base in Ladson, South Carolina, is on a 260-acre campus consisting of three manufacturing buildings with a combined floor area of approximately 452,240 square feet and an additional 90,000 square feet. Force Protection, Inc.’s primary customer is the United States Department of Defense, where it services two principal services, the United States Army and the United States Marine Corps. On December 15, 2006, the Company entered into a joint venture agreement with General Dynamics Land Systems Inc.

FUNDAMENTALS: Force Protection (FRPT) is a company that was bleeding red ink for many years (through 2005), but increasing demand for its V shaped, IED protection, combat vehicles have sent sales skyrocketing.  So much so that the company is maxing out production capabilities and having to partner with the larger General Dynamics in order to meet demand.  By posting their first profitable year, last year was a breakout year for the company.  Earnings per share shot up from a loss of .40/share in ’05 to a profit of .13/share in ’06.  That kind of growth is expected to continue through ’07 with an expected earnings per share of .81.  It’s no wonder the stock has shot up more than 700% in the last year!  Net margins are solid at around 9% and should continue to improve with manufacturing efficiencies and greater pricing power.  Return on equity has shot up as well over the past couple years and stands at around 17%.

TECHNICAL:  FRPT broke out of a base today with heavy volume to a new all time high.  That kind of action is always bullish, but given the tremendous run-up it’s had already and the current state of the overall market, I would be hesitant to initiate a position at these levels.  Put the stock in your watch list and wait for a pullback to the 24 – 25 range.  That would offer a much lower risk entry.

SELFINVESTORS RATING: With a total score of 50/60 (26/30 for fundamentals, 24/30 for technical), Force Protection (FRPT) is a very good breakout candidate.. just a bit too extended at this time.

***********
Want to easily discover these opportunities before they breakout?  Get yourself a premium membership to SelfInvestors.com.  You can still get all the tracking features for the low introductory price of $19.95 (Silver Membership)

If you’re currently a Bronze member, upgrade your membership today!
If you don’t have an account at SelfInvestors.com, see all the available membership options.
***********

Full Disclosure/Disclaimer: The stock of the day is by no means a buy recommendation.  Please do your own research and make a personal decision based on your own tolerance for risk.  I currently do not own a position in Force Protection (FRPT).

Bulls Still In Charge; Focus on Vocus (VOCS)

Well, the bulls just continue to trample all over any attempt to sell off this market.  That was the case yesterday, when it appeared that the market would confirm that distribution day on Monday and end in the red for a second straight day.  However, buyers stepped in at the end, keeping the steep upward trends of the indices intact.  While today’s move didn’t have the volume behind it that yesterday’s did, the S&P did notch a new multi year high and the Dow continues to reach new record highs.  At this point, the S&P will have a very good chance of testing its all time high as well.  This does not mean it’s time to get aggressive on the long side.  Both the Dow and the S&P are sitting right at resistance of a 1.5 year trend line.  Where the market closes at the end of the trading day on Friday may go a long way in determining where this market is headed over the next few months.  Stay tuned!

::: Major Indices Performance – The Numbers :::

(Note: volume averages are based on the average over the past 50 days)
Data as of 4:00EST – End of Day May 2nd 2007

Nasdaq: UP 1.04% today with volume 1% ABOVE  average
Nasdaq ETF (QQQQ) UP 1.1%, volume 23% BELOW average
Dow: UP 1.05%, volume 1% ABOVE the average
Dow ETF (DIA): UP .65%, volume 10% BELOW the average
S&P ETF (SPY): UP .59%, volume 23% BELOW the average
Russell Small Cap ETF (IWM): UP  1.24%, volume 22% BELOW the average

::: SelflInvestors Leading Stocks :::

The Self Investors Leading Stocks Index is comprised of stocks in the Breakout Tracker, which is a database of the fastest growing companies near a breakout or having already broken out of a base.  Leading stocks, surprisingly, did very well today; rising higher than all of the major indices with a decent amount of volume behind it. 

Summary:

* Advancers led Decliners 334 to 72
* Advancers were up an average of 2.24% today, with volume 16% ABOVE average
* Decliners were down an average of 1.57% with volume 45% ABOVE average
* The total SI Leading Stocks Index was UP  1.56% today with volume 21% ABOVE the average

::: Where’s the Money Flowing :::

Many investing websites provide leading industries based on price performance alone. However, without accompanying volume levels, this can sometimes be misleading.  The only way that I know of to gauge industry/sector strength WITH volume levels is through the analysis of ETF’s.  A couple years ago this was not possible, but as more traders/investors use ETF’s they become a much better tool for gauging the health of the market and seeing where the money is flowing (or not flowing).  Using the proprietary SelfInvestors Demand Indicator score which measures price and volume movements, I’m able to quickly see which sectors/industries are seeing the greatest inflows of cash.  For a detailed look at how I go about gauging sector/industry strength please see the following post: http://selfinvestors.com/si/industry_tracking/

* Current Leading Sectors/Industries (over last 30 trading days): 
Semiconductors, Networking, Biotech, Homebuilders (what a shock – close to bottom?), Financial
                                              
* Current Lagging Sectors/Industries (over last 30 trading days): 
Internet Infrastructure, Agriculture

* Today’s Market Moving Industries/Sectors (UP):
Gold Miners, Real Estate, Broadband, Oil & Gas Services, Consumer Discretionary, Retail

* Today’s Market Moving Industries/Sectors (DOWN):
US Oil, Commodities, Agriculture

::: Stocks :::

The stocks section will be an area where I highlight one stock selected from a group of stocks moving up with volume well above average and most likely breaking out of a base or consolidation.  Today’s stock Vocus Inc (VOCS).

ABOUT (from MSN):  Vocus, Inc. is a provider of on-demand software for public relations management. Its on-demand software addresses the functions of public relations, including media relations, news distribution and news monitoring. The Company delivers its solutions over the Internet using a secure, scalable application and system architecture. During the year ended December 31, 2006, the Company derived principally all of its revenues from subscription agreements and related services. The Company sells access to its on-demand software primarily through its direct sales channel, and to a lesser extent through third-party distributors. As of December 31, 2006, it had 1,727 active customers of all sizes across a variety of industries, including financial and insurance, technology, healthcare and pharmaceutical and retail and consumer products, as well as government agencies, not-for-profit organizations and educational institutions. On August 4, 2006, the Company acquired PRWeb International, Inc.

FUNDAMENTALS: Vocus (VOCS) is a small company that turned a profit for the first time last year and has just begun to emerge.  Earnings have nearly quadrupled over the past year, rising from .03/share to .11/share in the latest quarter.  Sales growth hasn’t been as eye popping, but has been very consistent at around 50% quarter over quarter.  The company has raised ’07 estimates for both sales and earnings growth.   Management owns a significant portion of the company and more institutions are beginning to initiate positions.  All characteristics of a winner.  If there is a negative, it’s the poor margins and ROE.  However, they are improving.

TECHNICAL:  Typically, I try and feature stocks in this section that have just broken out or are hovering in a buyable range.  Currently, neither is the case with VOCS.  The company reported earnings this morning and the stock gapped up with heavy volume to a new all time high and well above the 50 day moving average.  Since breaking out of its first base since going public last year, VOCS has trended along the 50 day moving average with above average volatility but with volume levels that indicate tremendous demand.  That continues to be the case, but I would wait to catch it off the 50 day moving average or breaking out of a new base.  A pull back in this market just may provide you with that opportunity.  Put this one near the top of the watch list.

SELFINVESTORS RATING: With a total score of 50/60 (25/30 for fundamentals, 25/30 for technical), Vocus (VOCS) is a high quality growth stock.

Full Disclosure/Disclaimer: The stock of the day is by no means a buy recommendation.  Please do your own research and make a personal decision based on your own tolerance for risk.  I currently own a small position in Vocus (VOCS).

Profit Taking Ends in Distribution for Dow and S&P500

There wasn’t anything in particular that threw the indices firmly in the red today.  Just call it good old fashioned profit taking after a record run as we head into what has historically been one of of the worst performing months for the market.  I’m sure the sell off of last May is still fresh in the minds who took a hit in their portfolios about this time last year. 

Now that the selling has begun, we turn our attention to the intensity of this selling and strength/weakness at key support levels.  Both the Dow and S&P chalked up a day of distribution while the Nasdaq narrowly averted the classification.  One or two of these over the next week or two is relatively harmless, so nothing to be alarmed about at this point.  In terms of key support levels, the Nasdaq was not able to hold above its multi year highs and is now sitting right on the upward trend line that began with the key reversal on March 14th.  There is a good chance it will wipe out that support level at some point tomorrow, creating the likelihood of a drop to the 50 day moving average at some point.  The Dow and S&P are in much better shape and haven’t touched their first lines of support.. in fact the Dow needs to drop about 265 points just to hit its first level of support.  That’s a good indication of just how overbought this market has become.  No change in strategy from the past couple weeks – lock in hard earned profit and sit flush with cash waiting for the next round of opportunity.

::: Major Indices Performance – The Numbers :::

(Note: volume averages are based on the average over the past 50 days)
Data as of 4:00EST – End of Day April 30th 2007

Distribution in the Dow and S&P500.

Nasdaq: DOWN 1.26% today with volume 6% BELOW  average
Nasdaq ETF (QQQQ) DOWN 1.31%, volume 23% BELOW average
Dow: DOWN .44%, volume 6% ABOVE the average
Dow ETF (DIA): DOWN .43%, volume 5% ABOVE the average
S&P ETF (SPY): DOWN .83%, volume 5% BELOW the average
Russell Small Cap ETF (IWM): DOWN  2.11%, volume 40% ABOVE the average

::: SelflInvestors Leading Stocks :::

The Self Investors Leading Stocks Index is comprised of stocks in the Breakout Tracker, which is a database of the fastest growing companies near a breakout or having already broken out of a base.  Leading stocks got hit fairly hard today – about in line with the Nasdaq but with heavier volume.

Summary:

* Decliners led Advancers 326 to 80
* Advancers were up an average of 2.14% today, with volume 69% ABOVE average
* Decliners were down an average of 2.21% with volume 14% ABOVE average
* The total SI Leading Stocks Index was DOWN  1.35% today with volume 25% ABOVE the average

::: Where’s the Money Flowing :::

Many investing websites provide leading industries based on price performance alone. However, without accompanying volume levels, this can sometimes be misleading.  The only way that I know of to gauge industry/sector strength WITH volume levels is through the analysis of ETF’s.  A couple years ago this was not possible, but as more traders/investors use ETF’s they become a much better tool for gauging the health of the market and seeing where the money is flowing (or not flowing).  Using the proprietary SelfInvestors Demand Indicator score which measures price and volume movements, I’m able to quickly see which sectors/industries are seeing the greatest inflows of cash.  For a detailed look at how I go about gauging sector/industry strength please see the following post: http://selfinvestors.com/si/industry_tracking/

* Current Leading Sectors/Industries (over last 30 trading days): 
Semiconductors, Networking, Biotech, Pharma, Financial
                                               
* Current Lagging Sectors/Industries (over last 30 trading days): 
Internet Infrastructure, Agriculture

* Today’s Market Moving Industries/Sectors (UP):
Bonds

* Today’s Market Moving Industries/Sectors (DOWN):
Clean Energy, Homebuilders, Oil Services, Semis, Retail, Transports

::: Stocks :::

The stocks section will be an area where I highlight one stock selected from a group of stocks moving up with volume well above average and most likely breaking out of a base or consolidation.  Sorry, no Stock of the Day today.  There just weren’t any high volume movers that piqued my interest.

Weak Economic Data May Take Center Stage; Hot IPO – Interactive Brokers (IBKR)

A bull mode market is characterized by a focus on the good news and shrugging off the bad.  This week was a great example of that as traders focused on strong earnings reports rather than weak economic data (GDP, Housing).  On Wednesday, awful new home sales figures weren’t enough to put a damper on blow out results from Amazon and then again on Friday, lower than expected GDP data sent the market gapping down at the open, but it wasn’t long before buyers stepped in again as the Dow rose for yet another day.  Friday was really a testament to the strength of the bulls right now.  Certainly, the character of this market has changed significantly in the past couple weeks.

Now that  key resistance areas have been taken out, we turn our attention to adding positions (or adding to positions) at drops to key support levels, rather than looking to dump positions or initiate shorts at key resistance levels.  That’s where we’re at now.  A complete reversal from just a few weeks ago.  Some healthy, consolidating action with light volume would go a long ways in confirming the strength of the bull and providing an entry point to get more aggressive on the long side.  With the big fellas mostly done reporting, any additional weak economic numbers next week may be enough to do just that.

::: Model Portfolio Update :::

Not much has changed in the Model Portfolio.  I’m slowly moving to a portfolio allocated more on the long side, but continue to wait for some consolidation/selling in this market to get more aggressive on the long side.  The portfolio has been weighed down a bit by a few short positions, two of which were exited during the week – a position in Nasdaq Ultra Short (QID) was covered for a 10% loss and a short position in Carter’s (CRI) was covered for a 7% loss.  On the long side, my NYX position got hit with a downgrade and I was forced out of the position ahead of earnings for an 8% loss.  There were a few bright spots.  One of my Quick Strike Profit plays in FALC was closed for a 7% gain and a new QSP position entered on Friday provided a quick gain of 8% and I’m holding for more.  All in all, the portfolio managed a small gain for the week and the YTD performance rose to a respectable 6.9% – still ahead of the S&P500 despite being on the wrong side of the market the past couple weeks.  The current allocation of the portfolio is beginning to lean towards the long side slowly but surely.  I’m now 50% long, 17% short and am sitting on a large cash position of 33% waiting to initiate more longs.

::: Best/Worst Performers :::

– Top 10 Performing Industries For the Week –

1. Catalog & Mail Order Houses: 11.75%
2. Trucks & Other Vehicles: 7.60%
3. Education & Training Services: 6.15%
4. Medical Practitioners: 5.85%
5. Appliances: 5.55%
6. Small Tools & Accessories: 5.45%
7. Waste Management:  5.30%
8. Personal Computers: 5.00%
9. Security Software & Services: 4.95%
10. Aluminum: 4.75%

– Top 10 Worst Performing Industries For the Week –

1. Major Airlines: -6.60%
2. Office Supplies: -4.90%
3. Building Materials Wholesale: -4.60%
4. Dairy Products: -4.60%
5. Drugs Wholesale: -4.05%
6. Home Improvement Stores: -3.30%
7. Regional Airlines: -3.30%
8. Specialty Retail: -3.20%
9. Recreational Goods: -2.90%
10. Silver: -2.85%

– Top 5 Best Performing ETFs For the Week –
 
1. HLDRS Internet (HHH)  7.50%
2. HLDRS Oil Service (OIH) 5.60%
3. PowerShares Dynamic Oil (PXJ) 4.70%
4. Morgan Stanley China (CAF) 3.80%
5. Herzfeld Caribbean Basin (CUBA) 3.75%

– Worst 5 Performing ETF’s –

1. HLDRS Internet Internet Infrastructure (IIH)  -4.80%
2. Ishares Spain (EWP) -3.90%
3. Mexico Fund (MXF) -3.15%
4. Templeton Russia & Eastern Europe (TRF) -2.95%
5. Ishares Silver (SLV) -2.75%

:::  IPO’s Worth Watching for This Week :::

1. Interactive Brokers (IBKR): automated global electronic market maker and a broker that specializes in routing orders and executing and processing trades in securities, futures, and foreign exchange instruments as a member of more than 60 electronic exchanges and trading venues around the world.  Trading set to begin on Friday.

2. Cavium Networks (CAVM): caters to clients whose networking equipment delivers "triple play" packages of voice, video, and data services at high speeds. Cavium is known for its fast and secure system-on-chip processors. Its customer list is a "Who’s Who" in tech with names such as Cisco, IBM, and Samsung.  Set to start trading on Wednesday.  The company isn’t yet profitable but rapidly moving that way.

3. Acorn International (ATV): Shanghai, China company that provides multi-platform marketing through direct TV sales and a nationwide distribution network. The company believes it operates the largest direct TV sales business in China. It also  believes it was one of the first companies in China to use direct TV sales programs, also known as TV infomercials.  Trading to begin on Thursday

4. Qiao Xing Mobile Communications (QXM): Beijing company that manufactures mobile phone handsets in China. The company’s mobile phone handsets are based primarily on GSM global cellular technologies. Qiao Xing focuses on higher-end and differentiated products. Trading set to begin on Thursday.

::: Upcoming Economic Reports (4/30/07 – 5/4/07) :::

Monday:        Personal Income, Personal Spending, Chicago PMI, Construction Spending
Tuesday:       ISM Index, Pending Home Sales, Auto Sales
Wednesday:  Factory Orders, Crude Inventories
Thursday:      Initial Claims, Productivity (prelim), ISM Services
Friday:           Hourly Earnings, Nonfarm Payrolls, Unemployment Rate

::: Notable Upcoming Earnings Reports I’ll Be Watching This Week :::

Monday: RTI International Metals (RTI), Pan American Silver (PAAS), BE Aerospace (BEAV)
               Atheros Communications (ATHR), Vulcan Materials (VMC), Manitowoc (MTW),
               Hercules Offshore (HERO), LHC Group (LHCG), TransDigm Group (TDG)

Tuesday: Hologic (HOLX), Chipotle Mexican Grill (CMG), NYMEX Holdings (NMX)
                Iconix Brands (ICON), DivX (DIVX), Vocus Inc (VOCS), Interactive Intelligence (ININ)

Wednesday: Superior Energy Services (SPN), TODCO (THE), Hecla Mining (HL),
                     NightHawk Radiology (NHWK), Dolby Laboratories (DLB)
                     Liquidity Services (LQDT), Radiation Therapy (RTSX), Ness Tech (NSTC)
                     Radvision (RVSN), Houston Wire & Cable (HWCC), Natco Group (NTG)
                     Garmin (GRMN), HealthSpring (HS), GFI Group (GFIG)
                     Intercontinental Exchange (ICE), Las Vegas Sands (LVS), Cognizant Tech (CTSH)
                    
Thursday: Northgate Minerals (NXG), Companhia Vale de Rio Doce (RIO), Morningstar (MORN)
                  Celgene (CELG), Strayer Education (STRA), Techwell (TWLL), Tower Group (TWGP)
                  Gildan Activewear (GIL), Gerdau (GGB), Big Band Networks (BBND)

Friday: Telenor ASA (TELN), Allis Chalmers (ALY), Tenaris (TS)