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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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Morning Rage 8.31.2012

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Dow futures have been volatile for the past 24 hours. Yesterday, before opening, the Dow saw a 42 point dip to 13042 and followed the same trend after open, breaking below the 13,000 mark for a two week low. The losses followed reports of stagnant jobless claims in the U.S. and Germany.

Crude Oil futures (95.21 [+0.5]) up about one half of a point overnight, while Gold futures (1661.80 [+3.8]) gained about four points.

OmniVision Technologies (OVTI | 17.33 [+8.93%]) traded 1.4 million shares overnight, gaining a point and a half. Earnings were weak but beat expectations. OVTI relies on the implementation of cameras in new technology, for their image recognition chips. OVTI supplies it’s chips to Apple for iPhones and iPads.

Splunk Inc. (SPLK | 35.25 [+4.75]) jumped 15.57% last night reaching a prices it last hit at the end of May. Splunk Inc.’s software collects indexes data with heterogeneous formats and enables users to analyze the data real time. The source of the gain is an announcement by SPLK that fiscal year 2012 revenue estimates are being raised as third quarter revenues were $45-$47 million.

Alex Kalish has a masters in economics from Suffolk University.