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Wednesday, July 4, 2012

Market expecting rate cut from ECB as Europe muddle through recession.

US stock market rallied as it was Tuesday and ECB carried out another fine Tuning operation. In last three trading days, Dow Jones Industrial Average (DJIA)  is up 488 point (3.9%), S&P500 is up 59 (4.5%) point and Nasdaq is up 154 point (5.5%). For the month, Dow Jones Industrial Average (DJIA)  is up 842 point (6.96%), S&P500 is up 95 (7.5%) point and Nasdaq is up 216 point (7.82%). Vix has been down and stocks like UVXY, TVIX are down 63% and VXX is down 36% for the month. Focus will shift on ECB rate cut decision at 7.45 am EST. On a rate cut, market is expected to open higher, no rate cut will lead to sell off but it will stabilise as focus will shift to tomorrow's non farm payroll. If non farm payroll shows, weak number below 100k, then there could be sell off. Watch out movement in GLD, and SLV, AGQ for next couple of days.


Trading Strategy for Jul 5th:

For Bullish sentiment to continue: Dow needs to break 12979, while S&P500 needs to break 1377. 

For Bearish sentiment to continue:  Dow needs to break 12869, while S&P500 needs to break 1368.
Dow expected to open lower. For bullish sentiment to continue, Dow needs to break 12979 and for bearish sentiment to continue, Dow needs to break 12,869

S&P500 is expected to open lower. For bullish sentiment to continue, S&P500 needs to break  1377,  for bearish sentiment, S&P500 needs to break 1368.
After Hours Gainer:
VFCVF Corp.140.25+8.93+6.80%400
CHTPChelsea Therapeutics I ...0.90+0.03+4.03%1,200
NSPHNanosphere Inc.3.07+0.09+3.02%2,300
OSUROraSure Technologies Inc.12.45+0.35+2.89%2,250
SLWSilver Wheaton Corp.29.06+0.65+2.29%100
DNDNDendreon Corp.7.43+0.12+1.64%200






After Hours Loser:
DARADARA Biosciences Inc.0.66-0.08-10.81%2,000
CVICVR Energy Inc.26.27-1.22-4.44%100
IPInternational Paper Co.28.76-0.81-2.74%450
CIMChimera Investment Corp.2.35-0.05-2.08%7,700






Stocks for Day trading: UVXY, XIV, SVXY, TVIX, GLD, TZA, FAS, FAZ, GMCR, NOK, PCX, WLT, ACI, HAL, MT, X, FSLR, TPX, RVBD

Stocks for Option Trading: CAT, XOM, SPY, QQQ, IBM, PCLN, AAPl, WLT, PCX, GOOG, MT.
Upcoming FDA approval  : SLXP on July 5th. 

Earning Before Market open
SYMBOL COMPANY EVENT TITLE EPS ESTIMATE EPS ACTUAL PREV. YEAR ACTUAL DATE/TIME (ET)
ISCA   International Speedway Corp Q2 2012 International Speedway Corporation Earnings Release $ 0.40  n/a  $ 0.26  5-Jul BMO
    Today´s Highlighted Dividends
  SYMBOL COMPANY AMOUNT EX-DATE PAYABLE RECORD DECLARATION
MA  MasterCard Inc $0.300 5-Jul 9-Aug 9-Jul 5-Jun
CPB  Campbell Soup Co $0.290 5-Jul 30-Jul 9-Jul 27-Jun
MKC  McCormick & Company Inc $0.310 5-Jul 23-Jul 9-Jul 26-Jun
Economic calendar:

TIME (ET)REPORTPERIODACTUALFORECASTPREVIOUS
8:15 amADP employmentJune--133,000
8:30 amWeekly jobless claims6-30386,000386,000
10 amISM nonmanufacturingJune52.953.7

Today's Event (EST): 

TIME (ET)REPORT
ACTUALPREVIOUS
6 a.m.Bank Negara Malaysia decision3%
7 a.m.Bank of England rate decision0.5%
7 a.m.Bank of England asset-buy targetGBP325 bln
7:45 a.m.European Central Bank decision1%
8:30 a.m.ECB press conference

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