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Jim Van Meerten
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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
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  • Pinnacle Foods - Barchart's Chart Of The Day

    The Chart of the Day belongs to Pinnacle Foods (NYSE:PF). I found the company by sorting the All Time High list for the stocks with the most frequent new highs in the last month then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 12/28 the stock gained 4.79%.

    Pinnacle Foods Inc. is a manufacturer, marketer and distributor of branded food products primarily in North America. The Company operates through three segments: the Birds Eye Frozen Division(NYSE:R), the Duncan Hines Grocery Division(R) and the Specialty Foods Division(R). It also manufactures and distributes canned meat, shelf-stable pickles and frozen seafood. The Company sells its products through supermarkets, grocery wholesalers and distributors, mass merchandisers, super centers, convenience stores, dollar stores, drug stores and warehouse clubs.

    (click to enlarge)

    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
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 12 new highs and up 6.80% in the last month
    • Relative Strength Index 74.27%
    • Barchart computes a technical support level at 34.86
    • Recently traded at 35.61 with a 50 day moving average of 33.80


    Fundamental factors:

     

    • Market Cap $4.18 billion
    • P/E 20.95
    • Dividend yield 2.67%
    • Revenue expected to grow 5.60% this year and anther 2.10% next year
    • Earnings are estimated to compound at an annual rate of 12.23% for the next 5 years
    • Wall Street analysts issued 3 strong buy, 6 buy and 4 hold recommendations on the stock


    Although the 50-100 Day MACD oscillator has been a good technical trading strategy for this stock I'd still advise you to use a moving stop loss 10% below the most recent high.

    Tags: PF
    Dec 26 4:04 PM | Link | Comment!
  • Staples - NASDAQ 100 Enigma

    Today I used Barchart to sort the NASDAQ 100 Index stocks to find the ones with the most frequent new highs in the last month and Staples(NASDAQ:SPLS) the office supplies retailer was on the top of the list. As I further researched the stock I have no idea why?

    Barchart technical indicators:

     

    • 96% Barchart technical buy signals
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 13 new highs and up 30.32% in the last year
    • Relative Strength Index 86.29%
    • Barchart computes a technical support level at 17.48
    • Recently traded at 18.13 with a 50 day moving average of 14.17


    Fundamental factors:

     

    • Market Cap $11.59 billion
    • P/E 17.83
    • Dividend yield 2.69%
    • Revenue expected to shrink 2.40% this year and another 1.60% next year
    • Earnings estimated to decrease by 3.34% annually for the next 5 years
    • Wall Street analysts recommendations are all over the map with 1 strong buy, 1 buy, 14 hold, 3 under perform and a sell call on this stock


    The 20-100 Day MACD has been the most consistent trading strategy on this stock. Since revenue and earnings forecasts are negative and even the Analysts are in conflict I'd recommend a moving stop loss about 10% below the current high to protect your profits.

    Tags: SPLS
    Dec 26 11:35 AM | Link | Comment!
  • BARCHART MORNING CALL 12/26

    BARCHART MORNING CALL

    Friday, December 26th, 2014

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    OVERNIGHT MARKETS AND NEWS

    March E-mini S&Ps (ESH15 +0.14%) this morning are up +0.14%, although European stock markets remained closed for the Christmas holiday and the U.K. markets are shut for Boxing Day. The Russian ruble posted a 3-week high against the dollar before falling back on speculation the government is ordering exporters to sell foreign currency. Asian stocks closed mostly higher: Japan +0.06%, China +3.31%, Hong Kong and Australia closed for holiday, Taiwan +0.60%, Singapore +0.23%, South Korea -0.01%, India +0.12%. Japanese stocks closed higher on speculation the BOJ may be forced to expand stimulus after Japan Nov CPI rose at the slowest pace in 8 months and after Nov industrial production unexpectedly declined. Chinese stocks gained on reports the PBOC plans to waive temporarily a requirement for banks to set aside reserves for some deposits. Commodity prices are mostly higher. Feb crude oil (CLG15 +0.64%) is up +0.70%. Feb gasoline (RBG15 +0.68%) is up +0.61%. Feb gold (GCG15 +1.99%) is up +2.05%. Mar copper (HGH15 +0.04%) is down -0.05% after weekly Shanghai copper inventories rose +12,693 MT to a 4-1/2 month high of 105,522 MT, a sign of weak Chinese demand. Agriculture prices have not yet opened. The dollar index (DXY00 +0.05%) is up +0.12%. EUR/USD (^EURUSD) is down -0.27%. USD/JPY (^USDJPY) is up +0.16%. Mar T-note prices (ZNH15 +0.02%) are up +1 tick.

    Japan Nov national CPI rose +2.4% y/y, less than expectations of +2.5% y/y and the slowest pace of increase in 8 months. Nov national CPI ex-fresh food climbed +2.7% y/y, right on expectations, and Nov national CPI ex food & energy rose +2.1% y/y, right on expectations.

    The Japan Nov jobless rate remained unchanged at 3.5%, right on expectations. The Nov job-to-applicant ratio unexpectedly rose +0.02 to 1.12, better than expectations of unch at 1.10 and the highest in 22-1/2 years.

    Japan Nov industrial production unexpectedly fell -0.6% m/m, weaker than expectations of +0.8% m/m. On an annual basis Nov industrial production fell -3.8% y/y, more than expectations of -2.4% y/y and the most in 17 months.

    Japan Nov retail sales unexpectedly fell for a second month as it slid i0.3% m/m, weaker than expectations of +0.2% m/m. On an annual basis Nov retail sales rose +0.4% y/y, less than expectations of +1.1% y/y.

    Japan Nov overall household spending fell -2.5% y/y, less than expectations of -3.6% y/y, but still the ninth consecutive month of year-over-year declines.

    U.S. STOCK PREVIEW
    There are no U.S. economic reports today. There is only one of the the Russell 3000 companies that reports earnings today: Turtle Beach Corp. There are no equity conferences this week.

    OVERNIGHT U.S. STOCK MOVERS

    The International Council of Shopping Centers reports that early retail estimates show the best holiday sales in 3 years.

    Novartis (NVS +0.71%) announced that the Japanese Ministry of Health, Labour and Welfare approved its drug Cosentyx for the treatment of both psoriasis vulgaris and psoriatic arthritis.

    DigiTimes reports that Sony (SNE +2.21%) is set to launch a large-size tablet in Q1 of 2015 that will sell for more than $1000.

    Bloomberg reports that the New York Supreme Court rejected Credit Suisse's (CS -0.04%) attempt to block a lawsuit seeking $10 billion in damages from the NY Attorney General accusing the bank of fraud in sales of mortgage-backed securities.

    Citigroup (C +0.22%) announced that it has reached a definitive agreement to sell its retail banking business in Japan to Sumitomo Mitsui Banking Corporation.

    The Biotechnology Value Fund reported a 6.29% passive stake in Sophiris Bio (SPHS +4.55%) .

    MARKET COMMENTS

    Mar E-mini S&Ps (ESH15 +0.14%) this morning are up +3.00 points (+0.14%). The S&P 500 index on Wednesday posted a fresh record high but fell back on profit-taking and closed little changed: S&P 500 -0.01%, Dow Jones +0.03%, Nasdaq +0.09%. Supportive factors included (1) the unexpected decline in weekly initial unemployment claims by -10,000 to 280,000, better than expectations of +1,000 to 290,000 and the lowest in 7 weeks, and (2) optimism that momentum in the U.S. economy can be sustained with the Fed's promise to be patient on raising interest rates along with the recent plunge in crude to a 5-1/2 year low, which has reduced gasoline prices and should give consumer spending a boost.

    Mar 10-year T-notes (ZNH15 +0.02%) this morning are up +1 tick. Mar 10-year T-note futures prices on Wednesday slipped to a 2-week low and closed lower: TYH5 -1.50, FVH5 -0.50. Bearish factors included (1) the unexpected decline in U.S. weekly initial unemployment claims to the lowest level in 7 weeks, and (2) the rally in the S&P 500 to a new record high, which curbed safe-haven demand for Treasuries.

    The dollar index (DXY00 +0.05%) this morning is up +0.106 (+0.12%). EUR/USD (^EURUSD) is down -0.0033 (-0.27%). USD/JPY (^USDJPY) is up +0.19 (+0.16%). The dollar index on Wednesday closed slightly lower. Closes: Dollar index -0.097 (-0.11%), EUR/USD +0.00023 (+0.02%), USD/JPY -0.209 (-0.17%). Bearish factors included (1) profit-taking and long liquidation after the dollar index posted an 8-1/2 year high on Tuesday, and (2) reduced safe-haven demand for the dollar with the rally in stocks.

    Feb WTI crude oil (CLG15 +0.64%) this morning is up +39 cents (+0.70%) and Feb gasoline (RBG15 +0.68%) is up +0.0094 (+0.61%). Feb crude and Feb gasoline prices on Wednesday closed lower with Feb gasoline at a contract low. Closes: CLG5 -1.27 (-2.22%), RBG5 -0.0561 (-3.54%). Bearish factors included (1) the unexpected +7.27 million bbl surge in weekly EIA crude supplies to a 6-month high of 387.21 million bbl, more than expectations for a -2.5 million bbl draw, (2) the +4.08 million bbl jump in EIA gasoline stockpiles to a 9-1/2 month high of 226.1 million bbl, and (3) the increase in crude supplies at Cushing, OK, the delivery point of WTI futures, for a third week as they climbed +973,000 bbl to a 9-month high of 28.8 million bbl.

    GLOBAL EVENT CALENDAR12/26/2014

    USn/aNo government reports or Fed speakers scheduled.
    CHI2030 ETChina Nov industrial profits, Oct -2.1% y/y.
    EURn/aEuropean markets closed for Christmas holiday.
    UKn/aUK markets closed for Boxing Day.

    U.S. STOCK CALENDAR12/26/2014

    CompanyTickerTimeEvent DescriptionPeriodEstimate
    Turtle Beach CorpHEAR US Q4 2014 Earnings ReleaseQ4 2014

    Tags: NVS, SNE, CS, C, SPHS, HEAR
    Dec 26 11:13 AM | Link | Comment!
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