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Morning Rage 9.25.2012

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The tech industry was hit hard yesterday as most of the major players ended down except for Google ($GOOG). Google reach a new all -ime high yesterday of 750.04 and traded in a $20 range. Google ended yesterday up about $15 and continued to surge up another $3.25 after hours making another new all-time high of 752.63.  Other tech stocks didn’t perform as well, Microsoft ($MSFT), Apple ($AAPL), Intel ($INTC), and HP ($HPQ) were all down more than one percent. Apple fans may have to wait for iPhone 5 resupplies around the world because the new front glass component production cannot keep up with demand for the phone.

On the topic of tech stocks, Red Hat ($RHT) released its Q2 earnings, which missed analysts projections causing the stock to tumble an extra $1.74, or 3%, on top of its $0.10 drop yesterday. Red Hat’s earnings projections were lower than Q1 but were still missed by a penny. The fine print reads that the penny lost was due to one-time closing costs.

Two housing reports will be released today, the S&P Case-Shiller HPI and the FHFA House Price Index. The Case-Shiller report tracks housing price changes throughout 20 major US cities and the FHFA report uses data from mortgages to track pricing. With housing news consistently positive in the past few weeks, I would expect more of the same today.

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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.

Screen Shot 2012-09-12 at 11.09.46 AM

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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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.

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Market Recap 9.18.2012

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The iphone 5 is expected to ship on Friday and analysts predict that as many as 10 million units will be sold before the end of the fiscal year. Analysts also predict that the iPhone 5 may sell as many as 250 million units in its lifetime.  This could make the iPhone one of the most successful products Apple has ever launched.

Rumors of a potential release from the Strategic Petroleum Reserve continued to circulate pushing oil prices lower today. Brent traded higher for seven sessions in a row before falling yesterday and today.

Things to look for this week:

Wednesday- Weekly mortgage apps, housing starts, existing Home Sales, AutoZone, General
Mills, Adobe Systems, Bed Bath & Beyond

Thursday- Jobless Claims, Earnings from CarMax, ConAgra, Rite Aid and Oracle.

Friday- iPhone 5 Ships.

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Halftime Report 9.17.2012

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Apple is trading up today gaining 5.84 (+0.83%).  Pre-sales of the Apple iPhone 5 have shattered the tech giant’s previous records with 2 million of the phone being sold in the first 24 hours they were available.  The record was held by the iPhone 4s which saw 1 million pre-orders on its first day of availability. Long line are already forming outside at New York City’s 5th Avenue Apple Store in anticipation of the product release.

Things to look for this week:

Tuesday- Housing Market Index, FedEx earnings

Wednesday- Existing Home Sales, AutoZone, General Mills, Adobe Systems, Bed Bath & Beyond

Thursday- Jobless Claims, Earnings from CarMax, ConAgra, Rite Aid and Oracle.

Friday- iPhone 5 Ships.

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