Seeking Alpha

Jim Van Meerten's  Instablog

Jim Van Meerten
Send Message
Jim Van Meerten is an advisor to Marketocracy Capital Management and writes on financial subjects here and on Barchart Portfolio Blogs and Seeking Alpha. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and... More
My company:
Marketocracy Capital Management
My blog:
Barchart Portfolio Blogs
View Jim Van Meerten's Instablogs on:
  • American Woodmark - All Time High

    The Chart of the Day belongs to American Woodmark (NASDAQ:AMWD). I found the cabinet maker stock by using Barchart to sort today's All Time High list for the stocks with the highest Weighted Alpha then used the Flipchart feature to review the charts, Since the Trend Spotter signaled a buy the stock gained 17.25%.

    American Woodmark manufactures and distributes kitchen cabinets and vanities for the remodeling and new home construction markets. Co. currently offers framed stock cabinets in almost 100 different cabinet lines, ranging in price from relatively inexpensive to medium priced styles. Styles vary by design and color from natural wood finishes to low- pressure laminate surfaces. The entire product offering includes thirty-three door designs and five colors.

    (click to enlarge)

    The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

    Barchart technical indicators:

    • 100% Barchart technical buy signals
    • Weighted Alpha of 104.10+
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 13 new highs and up 13.42% in the last month
    • Relative Strength Index 79.51%
    • Barchart computes a technical support level at 59.27
    • Recently traded at 63.21 with a 50 day moving average of 55.42

    Fundamental factors:

    • Market Cap $1.01 billion
    • P/E 28.67
    • Revenue expected to grow 11.30% this year and another 10.40% next year
    • Earnings estimated to increase 24.30% this year, an additional 2150% next year and continue to compound at an annual rate of 8.00% for the next 5 years
    • Wall Street analysts issued 3 strong buy and 2 hold recommendations on the stock


    The 50-100 Day MACD Oscillator has been a good technical trading strategy on this stock.

    Tags: AMWD
    Jul 28 6:42 PM | Link | Comment!
  • BARCHART MORNING CALL 7/28

    BARCHART MORNING CALL

    Tuesday, July 28th, 2015

    View Older Reports

    Everything you need to know about the markets in one free daily newsletter.

    E-mail: Submit


    You will also receive a free subscription to the Barchart family of newsletters.

    OVERNIGHT MARKETS AND NEWS

    Sep E-mini S&Ps (ESU15 +0.48%) this morning are up +0.52% and the EuroStoxx 50 index is up +1.35% on relief that the Chinese stock market today closed only -1.68% lower. U.S. and European stock indexes are also higher today on positive European takeover news today in the European pharma, utility and insurance industries. In one of the $15 billion worth of deals announced today, Melrose Industries Plc is up 10% after a deal to sell its metering-company Elster to Honeywell for $3.3 billion in cash. In another European deal announced today, Hikma Pharmaceutricals Plc announced that it agreed to buy Boehringer Ingelheim GmbH's Roxane business for $2.7 billion. Mining companies are higher in European trading after the sharp sell-off seen in the past 1-1/2 weeks.

    The Chinese Shanghai Composite index on Monday plunged by -8.5% and was down by -5.1% on today's low, but the market was able to recover somewhat during the remainder of the session to close the day down by only -1.68%. The markets remain concerned that the Chinese government may have given up on some of its support measures but so far the Shanghai index has been able to remain well above the 4-1/2 month low posted on July 9. The markets were somewhat relieved that the Chinese Securities Regulatory Commission late Monday released a statement on its website saying that the agency will continue to "stabilize" the market and "prevent systemic risk." Chinese stocks are down sharply this week on weekend news that the China July Markit flash manufacturing PMI unexpectedly fell by -1.2 points to a 15-month low of 48.2 and that Chinese June industrial profits fell by -0.3% y/y.

    Asian stocks today closed mixed despite continued bearish overhang from the Chinese stock market: Japan -0.10%, Hong Kong +0.62%, China -1.68%, Taiwan +0.30%, Australia -0.09%, Singapore -0.98%, South Korea +0.09%, India -0.37%, Turkey +1.37%.

    The dollar index (DXY00 +0.47%) this morning is up +0.406 (+0.42%) as some confidence returns with the upward rebound in U.S. and European stock indexes. EUR/USD (^EURUSD) is down -0.0056 (-0.51%) and USD/JPY (^USDJPY) is up +0.51 (+0.41%). Sep 10-year T-note prices (ZNU15 -0.17%) are down 9 ticks on reduced safe-haven demand with the upward rebound in the U.S. and European stock indexes.

    Commodity prices are little changed on net this morning. Sep crude oil (CLU15 -0.55%) is down -0.34 (-0.72%), Sep Brent is down -0.73 (-1.37%), and Sep gasoline (RBU15 -1.22%) is down -0.0227 (-1.28%) as concerns continue about a worsening glut later this year if Iranian sanctions are dropped as expected. Precious metals are down on the upward rebound in the dollar index today with Aug gold (GCQ15 -0.39%) down -4.9 (-0.45%) and Sep silver (SIU15 -0.62%) down -0.040 (-0.27%). However, Sep copper (HGU15 +1.00%) is up +0.024 (+1.02%) on some relief that global stock markets have stabilized today. Grains are mixed today after yesterday's sharp declines. Sugar, cocoa and cotton are trading higher this morning but cocoa is mildly lower.

    Today's UK Q2 GDP report of +0.7% q/q and +2.6% y/y was in line with market expectations and the quarter-on-quarter report of +0.7% strengthened from Q1's report of +0.4% q/q.

    Greek bailout negotiations are scheduled to begin today in Athens as technical experts from the ECB, EC and IMF meet with their Greek counterparts. EU officials said today there is "no fixed deadline" for an agreement but that they see a deal in the second half of August. Meanwhile a dispute has arisen whether the Greek parliament must take additional measures to qualify for the bailout with the EU Commission saying that more measures will be necessary while the Greek Finance Ministry says that all measures have been taken. However, the Greek finance minister today said that Greece will fully implement the Eurogroup agreements to the last detail.

    U.S. STOCK PREVIEW

    Key U.S. news today includes: (1) May S&P-CaseShiller composite-20 home price index (expected +0.3% m/m and +5.6% y/y after April's +0.30% m/m and +4.91% y/y), (2) preliminary-July Markit services PMI (expected +0.2 to 55.0 after June's -1.4 to 54.8), (3) July U.S. consumer confidence index from the Conference Board (expected -1.4 to 100.0 after June's +6.8 to 101.4), (4) Jul Richmond Fed manufacturing index (expected +1 to 7 after June's +5 to 6), and (5) the Treasury's auction of $26 billion of 2-year T-notes.

    There are 41 of the S&P 500 companies that report earnings today with notable reports including: UPS (consensus $1.26), Ford (0.37), Du Pont (1.22), Nielsen (0.64), Merck (0.81), Cummings (2.55), Pfizer (0.52), Citrix (0.82).

    U.S. IPO's scheduled to price today include: EyeGate Pharmaceuticals (NASDAQ:EYEG), Builders FirstSource (NASDAQ:BLDR).

    Equity conferences this week: none.

    Sep E-mini S&Ps this morning are up +0.52% on European takeover deals and relief that the Chinese stock market was able to stabilize today. Monday's closes: S&P 500 -0.58%, Dow Jones -0.73%, Nasdaq -0.96%. The S&P 500 on Monday extended last week's losses to post a new 2-week low on the -8.5% plunge in the Shanghai index and technical selling ahead of this week's FOMC meeting, which could produce a more hawkish FOMC post-meeting statement warning of a Fed rate hike as soon as the next meeting in September.

    OVERNIGHT U.S. STOCK MOVERS

    • Baidu Inc (BIDU -4.16%) is down more than 7% in pre-market trading after the biggest Chinese search engine company missed its quarterly sales estimates. In addition, Deutsche bank today downgraded Baidu to Hold from Buy due to expectations for reduced profit margins on a "massive" increase in spending costs.
    • SPX earnings reports this morning have been a bit better than expected on balance. Positive reports include Corning (GLW -0.70%) ($0.38 vs consensus of $0.37), Airgas (ARG -1.72%) (1.16 vs 1.15), Textron (TXT -1.41%) (0.60 vs 0.59), Wyndham (WYN -1.76%) (1.32 vs 1.26), Nielsen (NLSN -0.82%) (0.66 vs 0.64), Reynolds American (RAI -0.45%) (1.02 vs 0.96), Ford (F +1.11%) (0.47 vs 0.37), Merck (MRK -0.73%) (0.86 vs 0.81), Pfizer (PFE +0.23%) (0.56 vs 0.52), DR Horton (DHI +0.04%) (0.63 vs 0.50), Waters (WAT -0.66%) (1.32 vs 1.27), National Oilwell Varco (NOV -1.35%) (0.77 vs 0.64), Cummins (CMI -0.47%) (2.62 vs 2.55).
    • Negative earnings reports this morning include: Precision Castparts (PCP -0.72%) (2.87 vs 3.00), du Pont (DD -0.37%) (1.18 vs 1.21), CONSOL Energy (CNX -1.64%) (-0.37 vs 0.0), Intersoll-Rand (IR -1.52%) (1.20 vs 1.23), Marsh & McLennan (MMC -0.31%) (0.79 vs 0.794), Lab Corp of America (LH -0.38%) (1.79 vs 2.03), Masco (MAS -0.90%) (0.31 vs 0.34).
    • GM (GM -0.03%) will spend $5 billion in global growth markets, according to the Financial Times.
    • Procter & Gamble (PG -0.40%) will name David Taylor as next CEO, according to Dow Jones.

    MARKET COMMENTS

    Sep 10-year T-note prices are down 9 ticks on reduced safe-haven demand with the upward rebound in the U.S. and European stock indexes. Monday's closes: TYU5 +14, FVU5 +9. Sep T-notes on Monday rallied to a 2-1/2 week high on the mixed U.S. durable goods orders report that featured downward revisions for May, and on increased safe-haven demand as the Chinese stock market threatened to resume its free-fall and as the U.S. Dow Jones Industrials index fell to a new 6-month low.

    The dollar index this morning is up +0.406 (+0.42%) as some confidence returns with the upward rebound in U.S. and European stock indexes. EUR/USD is down -0.0056 (-0.51%) and USD/JPY is up +0.51 (+0.41%). Monday's closes: Dollar Index -0.710 (-0.73%), EUR/USD +0.0104 (+0.95%), USD/JPY -0.56 (-0.45%). The dollar index on Monday settled with a fairly sharp loss on long liquidation pressure in the dollar index after its sharp month-long rally, the reduced chance for Fed tightening as Chinese stocks plunged on Monday, and strength in EUR/USD as the chances for Grexit diminish as negotiations begin on Tuesday on the 3-year Greek bailout.

    Sep crude oil is down -0.34 (-0.72%), Sep Brent is down -0.73 (-1.37%), and Sep gasoline is down -0.0227 (-1.28%) as concerns continue about a worsening glut later this year as Iranian oil exports step up. Monday's closes: CLU5 -0.75 (-1.56%), RBU5 -0.0158 (-0.89%). Sep crude oil and gasoline on Monday closed sharply lower on the plunge in the Chinese stock market and renewed concern about the Chinese economy and on ongoing worries that the world oil glut will worsen as Iran rebuilds its oil exports later this year if sanctions are dropped in December as expected.

    GLOBAL EVENT CALENDAR07/28/2015

    US0900 ETMay S&P/CaseShiller composite-20 home price index expected +0.3% m/m and +5.6% y/y, Apr +0.30% m/m and +4.91% y/y.
     0945 ETPreliminary Jul Markit services PMI expected +0.2 to 55.0, Jun -1.4 to 54.8. Preliminary Jul Markit composite PMI, Jun -1.4 to 54.6.
     1000 ETJul consumer confidence (Conference Board) expected -1.4 to 100.0, Jun +6.8 to 101.4.
     1000 ETJul Richmond Fed manufacturing outlook survey expected +1 to 7, Jun +5 to 6.
     1300 ETTreasury auctions $26 billion of 2-year T-notes.
    UK0430 ETUK Q2 GDP expected +0.7% q/q and +2.6% y/y, Q1 +0.4% q/q and +2.9% y/y.
     0430 ETUK May index of services expected +0.3% m/m and +0.5% 3-mo/3-mo, Apr +0.2% m/m and +0.5% 3-mo/3-mo.
    JPN1950 ETJapan Jun retail sales expected -0.9% m/m and +1.0% y/y, May +1.7% m/m and +3.0% y/y.

    U.S. STOCK CALENDAR07/28/2015

    CompanyTickerTimeEvent DescriptionPeriodEstimate
    Airgas IncARG USBef-mktQ1 2016 Earnings ReleaseQ1 20161.154
    Corning IncGLW USBef-mktQ2 2015 Earnings ReleaseQ2 20150.369
    Ecolab IncECL USBef-mktQ2 2015 Earnings ReleaseQ2 20151.079
    Jacobs Engineering Group IncJEC USBef-mktQ3 2015 Earnings ReleaseQ3 20150.741
    Marsh & McLennan Cos IncMMC USBef-mktQ2 2015 Earnings ReleaseQ2 20150.794
    Merck & Co IncMRK USBef-mktQ2 2015 Earnings ReleaseQ2 20150.81
    Laboratory Corp of America HoldingsLH USBef-mktQ2 2015 Earnings ReleaseQ2 20152.033
    Precision Castparts CorpPCP USBef-mktQ1 2016 Earnings ReleaseQ1 20163.002
    Textron IncTXT USBef-mktQ2 2015 Earnings ReleaseQ2 20150.589
    Waters CorpWAT USBef-mktQ2 2015 Earnings ReleaseQ2 20151.271
    Affiliated Managers Group IncAMG USBef-mktQ2 2015 Earnings ReleaseQ2 20153.017
    Reynolds American IncRAI USBef-mktQ2 2015 Earnings ReleaseQ2 20150.964
    LyondellBasell Industries NVLYB USBef-mktQ2 2015 Earnings ReleaseQ2 20152.717
    Nielsen NVNLSN USBef-mktQ2 2015 Earnings ReleaseQ2 20150.639
    EI du Pont de Nemours & CoDD US6:00Q2 2015 Earnings ReleaseQ2 20151.217
    Wyndham Worldwide CorpWYN US6:30Q2 2015 Earnings ReleaseQ2 20151.258
    CONSOL Energy IncCNX US6:45Q2 2015 Earnings ReleaseQ2 20150.007
    Ford Motor CoF US7:00Q2 2015 Earnings ReleaseQ2 20150.368
    Ingersoll-Rand PLCIR US7:00Q2 2015 Earnings ReleaseQ2 20151.223
    Masco CorpMAS US7:00Q2 2015 Earnings ReleaseQ2 20150.343
    Pfizer IncPFE US7:00Q2 2015 Earnings ReleaseQ2 20150.518
    DR Horton IncDHI US7:00Q3 2015 Earnings ReleaseQ3 20150.499
    National Oilwell Varco IncNOV US7:00Q2 2015 Earnings ReleaseQ2 20150.646
    Cummins IncCMI US7:30Q2 2015 Earnings ReleaseQ2 20152.554
    United Parcel Service IncUPS US7:45Q2 2015 Earnings ReleaseQ2 20151.264
    Masco CorpMAS US8:00Q2 2015 Earnings CallQ2 2015 
    Merck & Co IncMRK US8:00Q2 2015 Earnings CallQ2 2015 
    Textron IncTXT US8:00Q2 2015 Earnings CallQ2 2015 
    PACCAR IncPCAR US8:00Q2 2015 Earnings ReleaseQ2 20151.153
    Eastman Chemical CoEMN US8:00Q2 2015 Earnings CallQ2 2015 
    Nielsen NVNLSN US8:00Q2 2015 Earnings CallQ2 2015 
    Corning IncGLW US8:30Q2 2015 Earnings CallQ2 2015 
    Marsh & McLennan Cos IncMMC US8:30Q2 2015 Earnings CallQ2 2015 
    United Parcel Service IncUPS US8:30Q2 2015 Earnings CallQ2 2015 
    Waters CorpWAT US8:30Q2 2015 Earnings CallQ2 2015 
    Wyndham Worldwide CorpWYN US8:30Q2 2015 Earnings CallQ2 2015 
    EI du Pont de Nemours & CoDD US9:00Q2 2015 Earnings CallQ2 2015 
    Ford Motor CoF US9:00Q2 2015 Earnings CallC2 2015 
    Laboratory Corp of America HoldingsLH US9:00Q2 2015 Earnings CallQ2 2015 
    Hartford Financial Services Group Inc/TheHIG US9:00Q2 2015 Earnings CallQ2 2015 
    National Oilwell Varco IncNOV US9:00Q2 2015 Earnings CallQ2 2015 
    Reynolds American IncRAI US9:00Q2 2015 Earnings CallQ2 2015 
    Airgas IncARG US10:00Q1 2016 Earnings CallQ1 2016 
    Cummins IncCMI US10:00Q2 2015 Earnings CallQ2 2015 
    Ingersoll-Rand PLCIR US10:00Q2 2015 Earnings CallQ2 2015 
    Pfizer IncPFE US10:00Q2 2015 Earnings CallQ2 2015 
    Southwestern Energy CoSWN US10:00Q2 2015 Earnings CallQ2 2015 
    DR Horton IncDHI US10:00Q3 2015 Earnings CallQ3 2015 
    CONSOL Energy IncCNX US10:00Q2 2015 Earnings CallQ2 2015 
    Ford Motor CoF US11:00Q2 2015 Earnings Call - Fixed IncomeQ2 2015 
    Jacobs Engineering Group IncJEC US11:00Q3 2015 Earnings CallQ3 2015 
    Precision Castparts CorpPCP US11:00Q1 2016 Earnings CallQ1 2016 
    Torchmark CorpTMK US11:00Q2 2015 Earnings CallQ2 2015 
    AvalonBay Communities IncAVB US11:00Q2 2015 Earnings CallQ2 2015 
    Affiliated Managers Group IncAMG US11:00Q2 2015 Earnings CallQ2 2015 
    LyondellBasell Industries NVLYB US11:00Q2 2015 Earnings CallQ2 2015 
    Intel CorpINTC US12:00Analyst MeetingY 2015 
    PACCAR IncPCAR US12:00Q2 2015 Earnings CallQ2 2015 
    Ecolab IncECL US13:00Q2 2015 Earnings CallQ2 2015 
    Total System Services IncTSS US16:00Q2 2015 Earnings ReleaseQ2 20150.535
    Edwards Lifesciences CorpEW US16:00Q2 2015 Earnings ReleaseQ2 20151.051
    Gilead Sciences IncGILD US16:05Q2 2015 Earnings ReleaseQ2 20152.705
    Citrix Systems IncCTXS US16:05Q2 2015 Earnings ReleaseQ2 20150.821
    American Express CoAXP US16:30Q2 2015 Earnings Call - Fixed Income CallC2 2015 
    Gilead Sciences IncGILD US16:30Q2 2015 Earnings CallQ2 2015 
    Akamai Technologies IncAKAM US16:30Q2 2015 Earnings CallQ2 2015 
    Citrix Systems IncCTXS US16:45Q2 2015 Earnings CallQ2 2015 
    Total System Services IncTSS US17:00Q2 2015 Earnings CallQ2 2015 
    Edwards Lifesciences CorpEW US17:00Q2 2015 Earnings CallQ2 2015 
    Aflac IncAFL USAft-mktQ2 2015 Earnings ReleaseQ2 20151.524
    Anadarko Petroleum CorpAPC USAft-mktQ2 2015 Earnings ReleaseQ2 2015-0.53
    AGL Resources IncGAS USAft-mktQ2 2015 Earnings ReleaseQ2 20150.428
    Kimco Realty CorpKIM USAft-mktQ2 2015 Earnings ReleaseQ2 20150.381
    Cincinnati Financial CorpCINF USAft-mktQ2 2015 Earnings ReleaseQ2 20150.41
    Express Scripts Holding CoESRX USAft-mktQ2 2015 Earnings ReleaseQ2 20151.401
    Range Resources CorpRRC USAft-mktQ2 2015 Earnings ReleaseQ2 20150.033
    Equity ResidentialEQR USAft-mktQ2 2015 Earnings ReleaseQ2 20150.855
    CH Robinson Worldwide IncCHRW USAft-mktQ2 2015 Earnings ReleaseQ2 20150.863
    Akamai Technologies IncAKAM USAft-mktQ2 2015 Earnings ReleaseQ2 20150.582
    Assurant IncAIZ USAft-mktQ2 2015 Earnings ReleaseQ2 20151.603
    Ball CorpBLL US Extraordinary Shareholders Meeting - M&A VoteY 2015 
    Equifax IncEFX US Investors Meeting - Kansas CityY 2015 
    Legg Mason IncLM US Annual General MeetingY 2015 
    Pall CorpPLL US Special Meeting - M&A Vote

    Tags: BIDU, GLW, ARG, TXT, WYN, NLSN, RAI, F, MRK, PFE, DHI, WAT, NOV, LH, MAS, GM, PG, ECL, JEC, MMC, PCP, AMG, LYB, DD, CNX, IR, CMI, UPS, PCAR, EMN, HIG, SWN, AVB, INTC, TSS, EW, GILD, CTXS, AKAM, KIM, CINF, ESRX, RRC, EQR, CHRW, AIZ, BLL
    Jul 28 11:06 AM | Link | Comment!
  • Eros International - All Time High

    The Chart of the Day belongs to Eros International (NYSE:EROS). I found the Indians language film stock by using Barchart to sort today's All Time High List for the stocks having the highest Weighted Alpha, then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy in 5/15 the stock gained 100.28%.

    Eros International Plc co-produces, acquires and distributes Indian language film content across multiple formats globally, including theatrical, television and digital channels. It distributes Indian-made films, known as Bollywood movies, in the United Kingdom, United States, Australia, the United Arab Emirates, and India. The Company releases Indian films that are subtitled or dubbed in local languages to Germany, Poland, Russia, Indonesia, Malaysia, Taiwan, Japan, South Korea, China and Arabic speaking countries. Eros International Plc is based in Douglas, the United Kingdom.

    (click to enlarge)

    The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

    Barchart technical indicators:

    • 96% Barchart technical buy signals
    • Weighted Alpha 193.60+
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 13 new highs and up 46.68% in the last month
    • Relative Strength Index 77.86%
    • Barchart computes a technical support level at 33.63
    • Recently traded at 35.79 with a 50 day moving average of 24.46


    Fundamental factors:

     

    • Market Cap $ 1.08 billion
    • P/E 45.97
    • Revenue expected to grow 15.40% this year and another 20.70% next year
    • Earnings estimated to increase 38.00% this year, an additional 37.80% next year and continue to increase at an annual rate of 15.00% for the next 5 years
    • Wall Street analysts issued 3 strong buy and 1 buy recommendation on the stock


    The 50 day moving average vs. the price has been an effective technical trading strategy on the stock.

    Tags: EROS
    Jul 27 8:00 PM | Link | Comment!
Full index of posts »
Latest Followers

StockTalks

  • $AMWD - 100% Barchart technical buy signals - 13 new highs and up 13.42% in the last month - Relative Strength index 79.51%
    about 7 hours ago
  • $EROS - 96% Barchart technical buy signals - 13 new highs and up 46.68% in the last month - Relative Strength Index 77.86%
    1 day ago
  • $IMPV 100% Barchart technical buy signals - 7 new highs and up 6.01% in the last month - Relative Strength Index 64.71%
    5 days ago
More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.