FirstAlert: 2-4:45 P.M. Investrend / Bestcalls
Conference calls are often impacted by market trends, geopolitical conditions, news coming from conferences and economic releases.
Feel The Fear (By Dr. Joe Duarte) -- Tuesday February 10, 2009 was a day for failures. In Washington, Obama and Company failed to convince anyone that they could make a dent in the recession/crisis/malaise/pending disaster that many consider the U.S. economy could become if the government doesn't figure out what to do about getting things rolling. The other was on Wall Street, where the bulls failed to keep the S&P 500 above 840 and the 50-day moving average. The next support level for the S&P 500 is now at 800, and below that waits a test of the November lows near 740. So what happened? Anyone watching the Congressional testimony of Fed Chairman Ben Bernanke, the speech by Treasury Secretary Geithner on Tuesday, and the press conference by President Obama on Monday night, could see it coming, as the new "Three Amigos" failed to deliver anything new and exciting. Sure, there's plenty of money in the pipeline. And you bet, after the president has bashed Wall Street, the Treasury is asking hedge funds to pony up big bucks to buy the worthless mortgage paper that many hedge funds either got rich shorting, or went broke owning. Any wonder there were no takers? In fact, there is now a growing consensus that we are on the edge of the precipice; with a Financial Times editorial wondering if Obama is already a failed president. Contrarians may be starting to salivate, as this is the kind of talk that often marks market bottoms. Yet, this feels different in many ways, such as the fact that rush hour when this scribe takes it to the house in Dallas, Texas, is no longer crowded. Also worth noting: Wal-Mart is the only crowded parking lot we see. And finally, we are now starting to see and feel fear when we talk to folks in all walks of life. This is not necessarily the bottom. In fact, it feels as if it's the beginning of something worse. We want to be wrong on this. But we're not betting the house or anything else on Obama, Congress, or Wall Street. It's a good time to be very careful.
The Investrend Earnings Calendar features Alcon (NYSE: ACL), expected at $1.33; ArcelorMittal (NYSE: MT), expected at $0.44; Great Plains Energy (NYSE: GXP), expected at $0.24; Millicom Int'l Cellular (NASDAQ: MICC), expected at $0.32.
The Investrend Economics Calendar lists International Trade for December (8:30 a.m.), Treasury Sect. Geithner Speaks (10 a.m.), EIA Petroleum Status Report (10:30 a.m.), Treasury auctions 10-year notes (1 p.m.), Treasury Budget Statement for January (2 p.m.).
The Investrend Events Calendar showcases BRCM, SNDK, MSFT, TRMB at Thomas Weisel Partners Technology & Telecom; CI, PRA, MDAS, ODSY at UBS Global Healthcare Services Conference; COL, MMM, NOC, JCI at Barclays Capital Industrial Select Conference; KEX, BNI, HRZ, YRCW at BB&T Capital Markets Transportation Services Conference; LRN, FFIV, CE, DMAN at Deutsche Bank Small and Mid-Cap Growth Conference.
The Investrend Money Index is an indicator of the depth of market direction or indirection. While not always including the same stocks, the NYSE/NASDAQ 50 Most Actives indicate the direction in which the mass of money is flowing. Last session's trading showed three advancers versus 47 decliners. Advancers were led by Ultrashort Financial (NYSE: SKF) up 18.43%, Pt Ultrshrt Sp500 Ps (NYSE: SDS) up 9.22%. Decliners followed Regions Financial Cp (NYSE: RF) down 30.17%, Suntrust Banks (NYSE: STI) down 27.17%, Financial Bull 3x (NYSE: FAS) down 26.90%, Huntington Bancshares Incorpora (NASDAQ: HBAN) down 24.90%, Fifth Third Bancorp (NASDAQ: FITB) down 24.22%, Bk Of America Cp (NYSE: BAC) down 19.30%, Ultra Financials Pro (NYSE: UYG) down 18.65%, Citigroup Inc (NYSE: C) down 15.19%, Wells Fargo & Co New (NYSE: WFC) down 14.22%, Us Bancorp (NYSE: USB) down 13.82%, Morgan Stanley (NYSE: MS) down 11.94%, Amer Intl Group Inc (NYSE: AIG) down 11.54%, Dryships Inc. (NASDAQ: DRYS) down 11.08%, Sprint Nxtel Cp (NYSE: S) down 11.02%, Alcoa Inc (NYSE: AA) down 10.00%, Jp Morgan Chase Co (NYSE: JPM) down 9.75%, Ultra S&P500 Proshrs (NYSE: SSO) down 9.15%, Yahoo! Inc. (NASDAQ: YHOO) down 8.27%, Gen Electric Co (NYSE: GE) down 8.07%, Starbucks Corporation (NASDAQ: SBUX) down 7.65%, Proshares Ultra Qqq (NYSE: QLD) down 7.51%, Time Warner Inc (NYSE: TWX) down 7.38%, Charles Schwab Corporation (The (NASDAQ: SCHW) down 7.11%, Companhia Vale Ads (NYSE: RIO) down 6.95%, Staples, Inc. (NASDAQ: SPLS) down 6.55%, News Corporation (NASDAQ: NWSA) down 6.19%, Comcast Corporation (NASDAQ: CMCSA) down 6.04%.
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Quote of the Day: "There ain't no rules around here! We're trying to accomplish something!" Thomas Alva Edison
Today is: Satisfied Staying Single Day, White Shirt Day.
Happy Birthday: Thomas Alva Edison, Max Baer, Sidney Sheldon, Eva Gabor, Leslie Nielsen, Tina Louise, Mary Quant, John Surtees, Burt Reynolds, Sergio Mendes, Sheryl Crow, Jennifer Aniston, Kelly Rowland.
Today in History: Pennsylvania Hospital, the first hospital in the United States, opened in 1752. First session of United States Senate was opened to the public in 1794. Robert Fulton patented the steamboat in 1809. Massachusetts governor Elbridge Gerry first gerrymandered in 1812. King Amadeus I of Spain abdicated in 1873. A sit-down strike ends when General Motors recognized the United Auto Workers Union in 1937. First gold record was presented to Glenn Miller for "Chattanooga Choo Choo" in 1941.
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