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Technical analysis video review of the stock market and individual stocks for Monday April 16, 2007 including; Nasdaq 100 Trust Shares (NASDAQ:QQQQ), S&P 500 Index (AMEX:SPY), Semiconductor HOLDRs (AMEX:SMH), iShares Russell 2000 Index (ETF) (Public, NYSE:IWM) , UltraShort QQQ ProShares (ETF) (Public, AMEX:QID), SunOpta, Inc. (USA) (Public, NASDAQ:STKL), eBay Inc. (Public, NASDAQ:EBAY), Ascent Solar Technologies, Inc. (Public, NASDAQ:ASTI), Harmonic Inc. (Public, NASDAQ:HLIT) and VeriSign, Inc. (Public, NASDAQ:VRSN). Trend analysis for daytraders and swingtraders of stocks and options. Trading stocks involves risk; this information should not be viewed as trading recommendations.
Technical analysis video of individual stock trading ideas for Monday April 16, 2007 including: Ascent Solar Technologies, Inc. (Public, NASDAQ:ASTI), Harmonic Inc. (Public, NASDAQ:HLIT) and VeriSign, Inc. (Public, NASDAQ:VRSN). Trend analysis for daytraders and swingtraders of stocks and options. Trading stocks involves risk; this information should not be viewed as trading recommendations. I HAVE NOT CHECKED TO SEE WHEN EARNINGS ARE DUE FOR ANY OF THESE STOCKS, BE SURE TO CHECK BEFORE CONSIDERING AN OVERNIGHT HOLD!
Themajor US equity indices closed higher Monday following positive data from European banks as well as reports on global manufacturing. The Institute for Supply Management said that its manufacturing index fell to 55.5 in July, from 56.2 in June. However, a reading above 50 indicates growth. The Commerce Department said that construction spending rose 0.1% in June. Federal Reserve Chairman Ben Bernanke said that the worst of the financial crisis is behind the nation and that the economy is growing again but that the nation faces a long road back to good economic health. Secretary Timothy Geithner promised not to swamp Wall Street with red tape and promised to move quickly to put in place new rules for the financial marketplace. Geithner also urged big banks to step up and make loans more readily available. In corporate news, DaVita (NYSE: DVA) reported Q2 EPS of $1.06, ex-items, in line with consensus estimates of $1.06. Revenues rose 4.6% year-over-year to $1.59 billion, marginally missing consensus estimates of $1.60 billion. VeriSign (NASDAQ: VRSN) reported Q2 EPS of $0.24, ex-items, in line with consensus estimates. Revenues rose 9% year-over-year to $168 million, beating estimates of $166.52 million. The Dow Jones Industrial Average (DJI) closed 1.99% higher at 10674.38, the S&P500 (INX) closed 2.20% higher at 1125.86, and the Nasdaq Composite (IXIC) closed 1.80% higher at 2295.36.
Analyst Research: Today’s UPGRADES include: FPL Group (FPL) upgraded to Outperform from Neutral at Credit Suisse…ONEOK Partners LP (OKS) upgraded to Buy from Hold at Citigroup…Exco Resources (XCO) upgraded to Conviction Buy from Buy at Goldman…EOG Resources (EOG) upgraded to Buy from Neutral at Goldman…Bucyrus (BUCY) upgraded to Conviction Buy from Buy at Goldman…Under Armour (UA) upgraded to Equal Weight from Underweight at Morgan Stanley…FMC Technologies (FTI) upgraded to Outperform from Sector Perform at RBC Capital…DOWNGRADES: STEC (STEC) downgraded to Hold from Buy at Deutsche Bank…STEC (STEC) downgraded to Neutral from Overweight at JP Morgan…STEC (STEC) downgraded to Market Weight from Overweight at Thomas Weisel…Noble Energy (NBL) downgraded to Perform from Outperform at Oppenheimer…Ultra Petroleum (UPL) downgraded to Buy from Conviction Buy at Goldman…Apache (APA) downgraded to Neutral from Buy at Goldman…Great Lakes Dredge (GLDD) downgraded to Equal Weight from Overweight at Stephens…Banco Santander (STD) downgraded to Equal Weight from Overweight at Barclays…INITIATIONS: Viacom (VIA.B) initiated with a Buy at Janney Montgomery…Time Warner (TWX) initiated with a Buy at Janney Montgomery…Consolidated Comm. (CNSL) initiated with an Outperform at RBC Capital…Sybase (SY) initiated with a Buy at Calyon…Red Hat (RHT) initiated with an Outperform at Calyon…Verisign (VRSN) initiated with a Buy at Calyon…Citrix Systems (CTXS …
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