|
After opening practically unchanged, the markets sold off a bit, however did so in an orderly fashion. After getting to what was to be the lows of the day, the markets once again, traded sideways, rallied and retested this area a few times, and then into the last hour of the day rallied off of the lows to only close moderately lower. Once again, although we did close down, the trading activity was bullish. The key S&P level to keep an eye on is the 1100 area, as we hit this a couple days back and stalled. We believe slowly taking long exposure off the table is a smart trade, because any way you look at it the markets are overbought, and when the rally does finally run out of steam, we could sell off quickly. As for the day trade, again, until it stops working, buying pull backs is the trade, keeping a close eye on the 1100 area to the upside. Also, there were several financials reporting results today, all of which came in above expectations, so there should be some action in this sector. As always, use stops/trailing stops you are comfortable with. Currently, futures are pointing to a lower opening.
Futures Glance:
Index |
Futures
|
Fair Value
|
+/- FairValue
|
|
Dow Jones
|
-36.00
|
-12.52
|
-23.48
|
|
S&P 500
|
-4.00
|
-1.89
|
-2.11
|
|
NASDAQ
|
-6.25
|
-3.56
|
-2.69
|
Picks Sheet Notes:
None at this time
This Mornings POI's (Points of Interest):
SNDK- Beat by $0.49; Beat on Revenue; Guided Q4 Revenue Above Consensus; Currently trading up about 4.7% or $1.00 Pre-Mkt
YHOO- Beat by $0.06; Revenue In-Line; Currently trading up about 4.7% or $0.80 Pre-Mkt
PLCM- Missed by $0.01; Beat on Revenue; Currently trading down about 12.7% or $3.35 Pre-Mkt
Other Earnings:
Company |
Symbol
|
Actual
|
First Call
|
+/- Est
|
Yr Ago
|
Yr/Yr Rev
|
|
Air Products
|
APD
|
1.14
|
1.12
|
0.02
|
1.26
|
-21.60%
|
|
Air Tran Holdings
|
AAI
|
0.08
|
0.08
|
0.00
|
-0.91
|
-11.30%
|
|
Allegheny Tech
|
ATI
|
0.01
|
0.03
|
-0.02
|
1.45
|
-49.90%
|
|
Altria
|
MO
|
0.48
|
0.47
|
0.01
|
0.46
|
-17.50%
|
|
AMB Property
|
AMB
|
0.71
|
0.33
|
0.38
|
0.69
|
-0.60%
|
|
American Capital Agency
|
AGNC
|
1.09
|
0.89
|
0.20
|
1.26
|
|
|
Amylin Pharms
|
AMLN
|
-0.19
|
-0.29
|
0.10
|
-0.57
|
-3.20%
|
|
Arctic Cat
|
ACAT
|
|
0.62
|
-0.62
|
0.93
|
|
|
Arkansas Best
|
ABFS
|
-0.23
|
-0.36
|
0.13
|
0.61
|
-19.50%
|
|
ATMI
|
ATMI
|
0.17
|
0.09
|
0.08
|
0.21
|
-16.30%
|
|
Boeing
|
BA
|
-2.23
|
-2.12
|
-0.11
|
0.96
|
9.10%
|
|
C.H. Robinson
|
CHRW
|
0.57
|
0.56
|
0.01
|
0.54
|
-15.60%
|
|
Canadian Natl Rail
|
CNI
|
0.94
|
0.89
|
0.05
|
1.16
|
-18.30%
|
|
CNH Global
|
CNH
|
-0.09
|
-0.14
|
0.05
|
1.09
|
-31.60%
|
|
Continental Air
|
CAL
|
0.02
|
-0.06
|
0.08
|
-1.32
|
-20.20%
|
|
Cree
|
CREE
|
0.3
|
0.22
|
0.08
|
0.1
|
20.50%
|
|
Cullen/Frost Bnkrs
|
CFR
|
0.75
|
0.77
|
-0.02
|
0.82
|
|
|
Cymer
|
CYMI
|
0.36
|
0.17
|
0.19
|
0.19
|
-16.50%
|
|
Dice Holdings
|
DHX
|
0.05
|
0.02
|
0.03
|
0.1
|
-32.60%
|
|
Drugstore.com
|
DSCM
|
-0.02
|
-0.04
|
0.02
|
-0.04
|
10.30%
|
|
Elan
|
ELN
|
-0.06
|
-0.13
|
0.07
|
-0.18
|
6.30%
|
|
Eli Lilly
|
LLY
|
1.2
|
1.02
|
0.18
|
1.04
|
6.80%
|
|
FLIR Systems
|
FLIR
|
0.38
|
0.35
|
0.03
|
0.35
|
3.20%
|
|
Freeport-McMoRan
|
FCX
|
2.07
|
1.34
|
0.73
|
1.31
|
-10.20%
|
|
Fulton Fincl
|
FULT
|
0.1
|
0.07
|
0.03
|
0.17
|
|
|
Gentex
|
GNTX
|
0.17
|
0.12
|
0.05
|
0.11
|
1.70%
|
|
Genzyme
|
GENZ
|
|
0.44
|
-0.44
|
1.04
|
|
|
Gilead Sciences
|
GILD
|
0.78
|
0.67
|
0.11
|
0.52
|
31.40%
|
|
Hawaiian Airlines, Inc.
|
HA
|
0.2
|
0.28
|
-0.08
|
|
-10.10%
|
|
Hudson City Banc
|
HCBK
|
0.27
|
0.26
|
0.01
|
0.25
|
|
|
IberiaBank
|
IBKC
|
-0.17
|
0.44
|
-0.61
|
0.77
|
|
|
ICON plc
|
ICLR
|
0.4
|
0.34
|
0.06
|
0.35
|
-2.40%
|
|
iGATE
|
IGTE
|
0.16
|
0.13
|
0.03
|
0.15
|
-11.40%
|
|
Infinera
|
INFN
|
-0.03
|
-0.12
|
0.09
|
0
|
-30.80%
|
|
Intuitive Surgical
|
ISRG
|
1.64
|
1.48
|
0.16
|
1.44
|
18.70%
|
|
KeyCorp
|
KEY
|
-0.5
|
-0.41
|
-0.09
|
-0.1
|
|
|
Kinetic Concepts
|
KCI
|
1.08
|
1.05
|
0.03
|
0.96
|
0.20%
|
|
Knight Capital Group
|
NITE
|
0.32
|
0.39
|
-0.07
|
0.4
|
24.50%
|
|
Lennox Intl
|
LII
|
0.72
|
0.71
|
0.01
|
1.1
|
-21.90%
|
|
Lindsay Corp
|
LNN
|
0.17
|
0.35
|
-0.18
|
0.9
|
-50.10%
|
|
Manhattan Assoc
|
MANH
|
0.43
|
0.17
|
0.26
|
0.34
|
-21.00%
|
|
Manpower
|
MAN
|
0.26
|
0.17
|
0.09
|
1.42
|
-26.00%
|
|
Marten Transport
|
MRTN
|
0.16
|
0.22
|
-0.06
|
0.28
|
-20.80%
|
|
MB Financial
|
MBFI
|
0.12
|
0.22
|
-0.10
|
0.44
|
|
|
Media General
|
MEG
|
0.2
|
0.09
|
0.11
|
0.28
|
-18.10%
|
|
Morgan Stanley
|
MS
|
0.38
|
0.27
|
0.11
|
|
13.00%
|
|
MSC Industrial
|
MSM
|
0.41
|
0.36
|
0.05
|
0.8
|
-21.10%
|
|
Nabors Ind
|
NBR
|
0.18
|
0.16
|
0.02
|
0.73
|
-44.20%
|
|
Northern Trust
|
NTRS
|
0.72
|
0.84
|
-0.12
|
-0.58
|
-1.20%
|
|
Northrop Grumman
|
NOC
|
1.29
|
1.18
|
0.11
|
1.5
|
4.10%
|
|
NuVasive
|
NUVA
|
0.13
|
0.05
|
0.08
|
0.21
|
41.90%
|
|
NVR
|
NVR
|
11.59
|
7.6
|
3.99
|
6.12
|
-14.60%
|
|
Omnicom
|
OMC
|
0.53
|
0.53
|
0.00
|
0.69
|
-14.40%
|
|
Penn Natl Gaming
|
PENN
|
0.33
|
0.35
|
-0.02
|
0.5
|
0.40%
|
|
PF Chang's
|
PFCB
|
0.27
|
0.31
|
-0.04
|
0.31
|
-1.90%
|
|
Pinnacle Finl
|
PNFP
|
-0.15
|
-0.09
|
-0.06
|
0.9
|
9.80%
|
|
Piper Jaffray
|
PJC
|
0.47
|
0.4
|
0.07
|
-0.83
|
62.80%
|
|
Polycom
|
PLCM
|
0.31
|
0.32
|
-0.01
|
0.37
|
5.20%
|
|
RC2
|
RCRC
|
0.66
|
0.58
|
0.08
|
0.66
|
-4.80%
|
|
Rimage
|
RIMG
|
0.33
|
0.21
|
0.12
|
0.42
|
-11.30%
|
|
SanDisk
|
SNDK
|
0.75
|
0.26
|
0.49
|
-0.59
|
13.80%
|
|
Seagate Tech
|
STX
|
0.58
|
0.47
|
0.11
|
0.26
|
-12.20%
|
|
SEI Investments
|
SEIC
|
0.27
|
0.25
|
0.02
|
0.31
|
-12.70%
|
|
Silgan Holdings
|
SLGN
|
1.91
|
1.59
|
0.32
|
1.45
|
5.40%
|
|
SLM Corp
|
SLM
|
0.26
|
0.04
|
0.22
|
0.19
|
|
|
Sonic
|
SONC
|
0.29
|
0.27
|
0.02
|
0.33
|
-23.40%
|
|
St. Jude Medical
|
STJ
|
0.59
|
0.58
|
0.01
|
0.57
|
7.00%
|
|
Stanley Works
|
SWK
|
0.77
|
0.62
|
0.15
|
0.98
|
-16.30%
|
|
STMicroelectronics
|
STM
|
0.15
|
-0.09
|
0.24
|
-0.32
|
-15.60%
|
|
Stryker
|
SYK
|
0.69
|
0.69
|
0.00
|
0.66
|
0.00%
|
|
Supertex
|
SUPX
|
0.08
|
0.1
|
-0.02
|
0.35
|
16.90%
|
|
TCF Financial
|
TCB
|
0.14
|
0.16
|
-0.02
|
0.24
|
5.00%
|
|
The Inventure Grp
|
SNAK
|
|
0.09
|
-0.09
|
0.06
|
|
|
Tupperware
|
TUP
|
0.54
|
0.42
|
0.12
|
0.47
|
0.20%
|
|
US Bancorp
|
USB
|
0.3
|
0.27
|
0.03
|
0.32
|
2.20%
|
|
USG Corp
|
USG
|
-0.53
|
-0.4
|
-0.13
|
-0.4
|
-32.10%
|
|
Vascular Solutions
|
VASC
|
0.09
|
0.09
|
0.00
|
0.11
|
11.00%
|
|
Vocus
|
VOCS
|
0.17
|
0.16
|
0.01
|
0.2
|
5.00%
|
|
Walter Energy
|
WLT
|
0.45
|
0.27
|
0.18
|
1.27
|
-9.90%
|
|
Wells Fargo
|
WFC
|
0.56
|
0.37
|
0.19
|
0.49
|
116.50%
|
|
Yahoo!
|
YHOO
|
0.13
|
0.07
|
0.06
|
0.09
|
-14.60%
|
|
Zenith National Insurance
|
ZNT
|
0.16
|
0.1
|
0.06
|
|
-6.10%
|
Earnings Calendar:
Wedensday, 10/21 After Close:
Company |
Symbol
|
First Call
|
Yr Ago
|
|
Aaron's
|
AAN
|
0.43
|
|
|
Affymetrix
|
AFFX
|
-0.09
|
-0.25
|
|
Alliance Data
|
ADS
|
1.34
|
1.22
|
|
AmeriCredit
|
ACF
|
0.06
|
-0.01
|
|
Ameriprise Financial
|
AMP
|
0.64
|
0.14
|
|
Amgen
|
AMGN
|
1.27
|
1.23
|
|
Broadpoint Gleacher Securities
|
BPSG
|
0.05
|
|
|
C.R. Bard
|
BCR
|
1.28
|
1.1
|
|
Citrix Systems
|
CTXS
|
0.41
|
0.43
|
|
Cohen & Steers
|
CNS
|
0.15
|
0.2
|
|
Cohu
|
COHU
|
-0.11
|
0
|
|
Conceptus
|
CPTS
|
0.09
|
0.1
|
|
Core Labs
|
CLB
|
1.13
|
1.6
|
|
CoStar Group
|
CSGP
|
0.2
|
0.34
|
|
Covance
|
CVD
|
0.67
|
0.8
|
|
Covanta
|
CVA
|
0.24
|
0.32
|
|
DST Systems
|
DST
|
0.92
|
0.97
|
|
eBay
|
EBAY
|
0.37
|
0.45
|
|
Education Realty Trust
|
EDR
|
-0.01
|
|
|
|
