Buzz Bits: Dow, Nasdaq Head Higher
Your daily Buzz highlights...
Editor's Note: This is a small sample of the content available on the Buzz and Banter.
Earnings Report - MV News
- Dick's Sporting Goods (DKS) reports 3Q EPS of $0.14 vs. $0.05 on revs of $708.3 mln vs. $679.4 mln cons.
Bring It Home Buzz - Todd Harrison - 3:42 PM
We started the week with a little perspective from both Hoofy and Boo and, true to form, we're finishing the day the same way.
The bovine are quick to note the dual dandruff---of the regular variety in the dollar and the inverse flakes in the S&P. IF these two patterns play out, Hoofy would argue that he'll have no more tears into year end. Particularly with performance anxiety "out and about."
Should we anticipate the anticipator? I'm not--particularly with Turnaround Tuesday on tap. My positions; right, wrong or indifferent, remain weighted to the metals and juxtaposed against some puts in the piggies.
I'm not as big as I otherwise might be. But, gimme a few more sleepovers with the minxy Miss Häagen Dazs and I'll letter be there.
Fare ye well into the bell.
Position in metals, financials
Gold Finger? - Kevin Depew - 11:48 AM
- With copper moving back into the green this morning, note the breakdown in Phelps Dodge (PD) on the heels of Friday's copper meltdown. The break at 95 was a triple bottom. See it here at StockCharts.com.
- The S&P 500 1395 level remains the active PnF price objective based on a 5x3 chart. Until then, a move to 1390 would break a double top. The chart shows the price objective at the top below the name.
- If you were kicking yourself last week for missing the move in gold futes that Fil Zucchi predicted on the Buzz, then you have to be liking this pullback here. On a PnF basis, the move is consistent with a break and pullback. On the downside a move to 612 would suggest something less bullish is going on.
Inversion making new highs... - Bennet Sedacca - 9:00 AM
Well I guess you can say new lows as it is reflected as a negative number. I have looked at both 10's versus Fed funds and 10's versus the 6 month bill. They look the same but have had questions in the past as to which one was the most important.
My conclusion is that the bond market continues to sense the economy putting on the brakes in the months ahead. I will touch on this and plot against the SPX in an article soon.
See the chart of 10's minus Fed Funds.
See the chart of 10's minus 6 month bill yields.
What you need to know... - Jon Doctor J Najarian - 8:04 AM
Gannett (GCI) Interested in Tribune (TRB) - According to published reports, both the former head of AIG, Maurice Greenberg and publisher of the today, Gannett are interested in buying TRB.
Eddie Bauer (EBHI) Taken Private – That's right, EBHI has agreed to be acquired for $615 million. This values EBHI at $9.25 per share or about 12% above Friday's close.
KB Home (KBH) CEO Ousted Over Options – More fallout from the ongoing backdating option scandals, as the top dog at the nation's largest homebuilders resigned under pressure and agreed to return $13 million in profits.
Sun (SUNW) to Make Java Open Source – In an effort to keep current with the hot trend in technology Sun plans to make its programming language more easily available for the Linux operating system.
Position in TRB
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