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.

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

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