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Monday, February 6, 2012

Stocks for Feb 6th: VXX, TZA,FAZ, ERY, YUM, ILMN

SPX 500 chart for 3 year shows rise
S&P500 3 year Chart
As expected the market is opening low today, as mentioned in my previous article ECB conduct their operation on Tuesday. 
http://www.freefdawatchlist.com/2012/02/how-to-take-advantage-of-ecb-operation.html As of now there is no news on ECB site if they will conduct any new operation tomorrow but if there is any it will be listed here. The market is expected to open higher tomorrow unless Greece mess up and if that is the case the ECB operation will provide damage control and that scenario market will be flat. If Greece "debt deal" happens, the it's considered defaulted and "No deal" is still will default. The only question remain is how media project this news.  Greek party leaders to meet on deal around mid-day and aim to detail response to Troika. 

So far S&P500 is up 6.94% year-to-date and only 1.37% below its interim high at the end of April 2011. 
From an intermediate perspective, the S&P 500 is 98.8% above the March 2009 closing low and 14.1% below the nominal all-time high of October 2007. Below are two charts of the index, with and without the 50 and 200-day moving averages. 

There is no important economic data which would influence or reverse the direction of the market so Europe will be driving this market. 

Earning 
Feb 06/b L HUM NLSN UDR BWP HAS  TW  LAZ
Feb 06/a APC  YUM PXD  UNM ILMN TMK PRE  DNB

Below is the weighted index distribution for Dow Jones Industrial Average: 
1 IBM 11.39
2 Caterpillar 6.7
3 Chevron 6.21
4 McDonalds 5.88
5 3M 5.16
6 ExxonMobil 5
7 United Technologies 4.77
8 Boeing 4.49
9 Coca-Cola 4.01
10 Johnson & Johnson 3.86
11 Procter & Gamble 3.69

I'll post in my next article, the stock which have caused big move in Dow Jones Industrial Average. Based on my calculation, IBM and CAT have clearly dominated and had bigger role in the big movement of Dow index.

Volatility is likely to remain high till Feb 16  and VXX is likely to remain between 24 - 27 (Vix is still in Contango, so there will be pressure on sell side but if VIX can rally 14% then it likely to into Backwardation and it will move higher quickly).

Remember don't use margin money for investing.

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