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Morning Rage 9.24.2012

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Indices, metals, energy, and grains futures are all posting losses in premarket trading.

As of 6:30 am, Dow futures are down 55.00 points to 13,445.00, S&P futures down 6.00 to 1,446.00, and Nasdaq futures down 9.50 to 2,843.00. Gold futures are down 18.70 to 1759.30, silver futures are down less than a point to 33.72 and crude futures down a points and a quarter to 91.64.

The two Nasdaq powerhouses, Apple (AAPL| 700.09) and Google (GOOG| 733.99), are both down in premarket trading, -4.84 and -3.49 respectively. After the stocks chased each other to the $700 price point and above, investors might be weary of buying in at such a high price. I would expect a slowing of growth as they both continue to gain value from now till the end of the year, even after news of record iPhone 5 sales. AAPL is sitting around its all-time high, while GOOG remains about 10-15 points out of range of its own all-time high.

Lennar Corp (LEN), a stock the KOTM team has been expecting to bounce up after earnings this morning, reported 0$.40 earnings per share, a growth of 263.3% year-over-year. Analysts expectations were beat by $0.12 and $50 million in revenues. The stock is up $1.18 or 4.84% in premarket trading. LEN moved through its 52-week high on friday making the new high point $37.88.

If you are interested in learnings how KOTM picks trades like the one above, click below for free access into the trading room.

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Alex Kalish has a master’s degree in economics from Suffolk U.

Questions, comments and suggestions welcome: alexk@keeneonthemarket.com

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Market Recap 9.21.2012

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Apple will close at around $700.00.  The iPhone 5 will be released today after much anticipation. The phone will feature a larger screen, a faster processor, and will also be the thinnest and lightest iPhone Apple has ever produced. The phone will also run Apple’s new iOS 6 which includes Apple’s new maps app. Early reviews of the app have found some glaring errors and inaccuracies.  Despite less than perfected additions to the new iOS 6 it appears that this will be the most successful iPhone of all time. Customers have been lined up outside of Apple’s 5th Avenue store since as early as last Friday.

Google closed up on the day rallying $5.90 (+0.81%) ending at $733.99. The stock hit a new 52 week high today and is now within shouting distance of its all time high.

Numbers and Earnings Next Week:
Monday- Chicago Fed national activity index, Lennar Earnings
Tuesday- S&P Home price index, consumer confidence, FHFA home price index
Wednesday- New home sales, oil inventories.
Thursday- GDP, jobless claims, pending home sales, Earnings from Financial, Nike, Accenture, RIM, Micron.
Friday- Chicago PMI, consumer sentiment. Earnings from Walgreens

James Ramelli B.S. in Finance from UIUC. Email: james@keeneonthemarket.com Follow: @Jim_KOTM

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Halftime Report 9.21.2012

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Dow futures are up even further today to 13,548, a gain of 33 points, while S&P futures have gained about three points on the day. Crude futures and metal futures all up; gold is up 10 and oil is up 0.75 points. 

The euro/USD rose today about a third of a penny on news from Spain that a bailout may be in order in the near future. Spain is considering freezing pensions and raising the retirement age to cut spending under the plan agreed upon in an aid agreement.

Apple’s iPhone store release today pushed AT&T (T| $38.46) higher about 1.34% for the day. AT&T’s 52-week range is about $11 with a low and high of $27.41 and 38.58. AT&T hit the low in July, bounced up almost to its 52 week high and has stayed relatively steady sitting between $37 and $38. Apple has been performing headcounts at every store for those lined up to buy the iPhone 5 and they are now suggesting record sales for the new phone. Apple hit another new all-time high today at $705.07 but bounced back down to $703 after noon, CST.

Starbucks (SBUX | $51.43) is up about 0.28% on announcements that they will be selling electronic brewers and a new single serve coffee line. Starbucks is ten dollars short of its 52 week high, the range being $35.12 to $62.00. Starbucks is up $3 since Monday.

Alex Kalish has a master’s degree in economics from Suffolk U.

Questions, comments and suggestions welcome: alexk@keeneonthemarket.com

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Morning Rage 9.21.2012

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Dow futures are up 42.00 points to 13,557, S&P futures are up 3.50 point to 1,457.25 and the Nasdaq futures are up 7.25 to 2,860.50. Metals futures and crude are all up. Gold is up 5.30 points to 1775.50, silver slightly up four cents, and Platinum up almost ten points to 1633.60.

The Apple iPhone 5 will be released around the world today. The iPhone 5 made record sales in Asia, and some are worried that Apple will not be able to meet demand. Some Japanese carriers have already run out of phones. Best Buy has announced that the iPhone 4 will be free with a 2-year activation. The phones maps application is lacking and iPhone 4 and 4S users are upset about the update that took Googlemaps away.

Apple, Inc. (AAPL) was down $3.40 yesterday at the close but surged overnight with news of the phone selling out everywhere, up $4.95 and moving quickly in premarket trading.

With no real economic news tomorrow and options expiring today, the bulls should continue to own the day.

Alex Kalish has a master’s degree in economics from Suffolk U.