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Wednesday 12.30.2009

Despite positive economic data, the market

gave up early gains to finish flat at 10545

(Dow) and 1126 (S&P). With one trading day

remaining, investors are making sure that

profits are locked and risk removed. The PMI

is very likely to stop the risk adverse approach

a little, thus 10500 might be the bottom for

the day. As for the upside, the pivot will act as

the first resistance.

Japan airline’s possible default and a shortfall in the DAX are pressing the futures in negative

territory. Once again, limited sellers will help support the market on the downside. Quick profits on

the downside may be the best trading approach, expecting possible up at the end of the day. Caution

remains the way to go.

TIME INDICATOR RANGE EXPECTATION PRIOR ACTUAL

10:30

am

US Crude Oil

Inventories

-3500K

to 3000K-1500K -4841K

10:30

am

US Gasoline

Inventories

-500K to

2000K1000K -883K

10:30

am

US Distillate

Inventory

-4000K

to 1000K-2100K -3027K

10:30

am

US Refinery

Utilization

-0.70%

to 1.60%0.23% 0.09%

INDICES S2 S1 PIVOT R1 R2

INDU

(DOW)10521 10534 10557 10579 1059

SPUZ(S&P) 1123 1125 1128 1130 1132

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CURRENT MARKET SENTIMENT

PRISM CALL

INDU & SPUZ TECHNICALSECONOMIC CALENDAR

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MARKET PRICE     %

FTSE 5419.28 18.3301 -0.34

DAX 5957.43 54.12 -0.9

HANG SENG 21496.62 2.82 -0.01

NIKKEI 10546.44 91.62 -0.86

CHINA 3262.6 50.839 1.58

STRONG WEAK 

DD CAT 

  T JPM

MMM UTX

  TRV XOM

COMMODITY PRICE    

OIL 78.75 0.12

GOLD 1092.0 5.00

STOCKS UPGRADED

COMPANYBROKERAGE

FIRMRATINGS CHANGE PRICE TARGET

NVIDIA (NVDA) Kaufman Bros Hold » Buy $14 »

$22

Marvell (MRVL) Kaufman Bros Hold » Buy $20 »

$25

STOCKS DOWNGRADED

COMPANYBROKERAGE

FIRMRATINGS CHANGE PRICE TARGET

Buckeye Partners

(BPL)Stifel Nicolaus Buy » Hold  55.02

DOW STOCKS TO WATCH

FOREIGN MARKETS

UPGRADES & DOWNGRADES

NEWS

RDS.A Royal Dutch Shell, other o

firms bolster biofuels spending – 

WSJ

PFE Pfizer discontinues a Phase 3

trial of figitumumab in non-small

cell lung cancer for futility (18.56 0.07)

FDIC moves to seize slice of banks

stock rallies- WSJ

ITC to probe charges RIMM

infringed patent - Washington Pos

OXY Occidental Petro mentioned

positively in Barron's (82.10 )

JNJ Johnson & Johnson expands

recall of Tylenol arthritis caplets -

Reuters.com (64.94 )

AAPL Apple stock expected to rise

in '10 - Business Week (209.10 )

MSFT Microsoft: WSJ's Heard On

The Street column discusses

Microsoft's mobile operating

system market share (31.36 )

Spanish banks start to unload

property portfolios - WSJ.com

US to tax Chinese steel grating

imports- FT.com

CX Cement makers warn of ‘painf

adjustment’- FT.com

VRX Valeant Pharmaceuticals

FDA Accepts NDA Filing for

Retigabine (32.17 )

GOOG Google: Leaked Nexus One

documents: $530 unlocked, $180with T-Mobile – Gizmodo

PX Praxair ests raised above

consensus at Argus Research

(80.95 )

COMMODITY PRICES

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AET Aetna to take approx $60-65 mln charge for job, real estate actions (32.86 )

CEO CNOOC Ltd announces new fields brought on stream ahead of schedule (154.23 )

XEL Xcel Energy reaffirms it 2010 earnings guidance of $1.55-1.65 per share vs $1.63 First Call consensus

(21.44 -0.01)

OSK Oshkosh Truck was awarded on Dec. 22, 2009, a $258,364,288 firm-fixed-price contract for the purchase of 

728 new M1075 trucks; Co also announces additional contracts - DoD (3.52 -1.05)

LMT Lockheed Martin Corp., Missile and Fires Control, Grand Prairie, Texas, was awarded on Dec. 22, 2009, a

$151,166,292 firm-fixed-price contract - DoD (76.66 +0.96)

RTN Raytheon awarded on Dec. 18, 2009, a $58,250,212 cost-plus-fixed-fee, firm-fixed-price contract - DoD

(52.72 -0.07)

AAPL Apple ests and tgt raised to $253 at Kaufman driven by strength in all three major product lines,

particularly its iPhone business (209.10 )

PFBC Preferred Bank restates Q3 results; Q4 is likely to be profitable vs. consensus at ($0.49); loan lossesprovisions will be minimal due to recovery of previously charged-off loan (14.28 )

MGM MGM Mirage tgt upped to $9 at Oppenheimer as firm raises FY10 CityCenter EBITDA est on higher margins

which are still below co's guidance following meeting with mgmt (9.41 )

Symbol  S7 S6 S5 S4 S3 S2 S1 PIVOT R1 R2 R3 R4 R5 R6 R7  

Sectors 

SPX 1118.95 1120.60 1121.61 1123.25 1124.90 1125.40 1125.91 1127.55 1129.20 1129.70 1130.21 1131.85 1133.50 1134.51 1136.15

INDU 10484.57 10498.34 10506.85 10520.62 10534.39 10538.65 10542.88 10556.67 10570.46 10574.70 10578.95 10592.72 10606.49 10615.00 10628.77

NDX 1854.88 1858.67 1861.01 1864.81 1868.60 1869.77 1870.94 1874.74 1878.53 1879.70 1880.87 1884.67 1888.46 1890.80 1894.60

XBD 113.88 114.19 114.38 114.69 115.00 115.09 115.19 115.50 115.81 115.90 116.00 116.31 116.62 116.81 117.12

BKX 42.40 42.51 42.58 42.69 42.80 42.84 42.87 42.98 43.09 43.13 43.16 43.27 43.38 43.45 43.56

TRAN 4120.55 4132.17 4139.36 4150.98 4162.60 4166.20 4169.77 4181.41 4193.05 4196.63 4200.22 4211.84 4223.46 4230.65 4242.27

OIX 683.87 686.55 688.21 690.88 693.56 694.39 695.21 697.89 700.57 701.40 702.23 704.90 707.58 709.24 711.91

OSX 190.10 191.45 192.28 193.63 194.98 195.40 195.81 197.16 198.51 198.93 199.34 200.69 202.04 202.87 204.22

XNG 538.88 541.50 543.12 545.75 548.37 549.18 549.99 552.62 555.24 556.05 556.86 559.49 562.11 563.73 566.36

CYC 828.03 830.92 832.71 835.60 838.49 839.39 840.27 843.17 846.07 846.96 847.85 850.74 853.63 855.42 858.31

UTY 420.27 421.02 421.48 422.23 422.98 423.21 423.44 424.19 424.94 425.17 425.40 426.15 426.90 427.36 428.11

DRG 308.74 309.60 310.13 311.00 311.86 312.13 312.39 313.26 314.12 314.39 314.65 315.52 316.38 316.91 317.78

RLX 413.65 414.69 415.33 416.37 417.41 417.73 418.05 419.09 420.13 420.45 420.77 421.81 422.85 423.49 424.53

Tradeables 

SPY 111.75 111.94 112.05 112.23 112.42 112.47 112.53 112.71 112.90 112.95 113.01 113.19 113.38 113.49 113.67

DIA 104.61 104.76 104.85 105.00 105.15 105.20 105.24 105.39 105.54 105.59 105.63 105.78 105.93 106.02 106.17

QQQQ 45.57 45.67 45.73 45.83 45.93 45.96 45.99 46.09 46.19 46.22 46.25 46.35 46.45 46.51 46.61

QLD 58.93 59.19 59.35 59.61 59.87 59.95 60.03 60.29 60.55 60.63 60.71 60.97 61.23 61.39 61.65

IWM 62.61 62.75 62.83 62.96 63.10 63.14 63.18 63.31 63.45 63.49 63.53 63.66 63.80 63.88 64.01

OIH 115.17 116.19 116.82 117.83 118.85 119.16 119.48 120.49 121.51 121.82 122.14 123.15 124.17 124.80 125.81

XLE 56.13 56.43 56.61 56.91 57.21 57.30 57.39 57.69 57.99 58.08 58.17 58.47 58.77 58.95 59.25

FAZ 18.42 18.56 18.64 18.77 18.91 18.95 18.99 19.12 19.26 19.30 19.34 19.47 19.61 19.69 19.82

FAS 72.64 73.17 73.50 74.04 74.57 74.74 74.90 75.44 75.97 76.14 76.30 76.84 77.37 77.70 78.24

SRS 6.57 6.68 6.75 6.86 6.97 7.00 7.04 7.15 7.26 7.29 7.33 7.44 7.55 7.62 7.73

SDS 33.68 33.79 33.87 33.98 34.09 34.13 34.17 34.28 34.39 34.43 34.47 34.58 34.69 34.77 34.88

USO 37.66 37.88 38.02 38.23 38.45 38.52 38.59 38.80 39.02 39.09 39.16 39.37 39.59 39.73 39.94

SKF 23.31 23.43 23.50 23.62 23.74 23.77 23.81 23.93 24.05 24.08 24.12 24.24 24.36 24.43 24.55

 

EARNINGS

TECHNICAL ANALYSIS