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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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  • Chemtura - Barchart's Chart Of The Day

    The Chart of the Day belongs to Chemtura (NYSE:CHMT). I found the stock by sorting the All Time High list for the stocks with the highest technical buy signals then used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 2/3 the stock gained 23.27%.

    Chemtura Corporation is a global manufacturer and marketer of specialty chemicals, crop protection and pool, spa and home care products.

    (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
    • 7 new highs and up 14.21% in the last month
    • Relative Strength Index 77.88%
    • Barchart computes a technical support level at 28.20
    • Recently traded at 29.58 with a 50 day moving average of 25.63


    Fundamental factors:

     

    • Market Cap $2.15 billion
    • P/E 33.16
    • Revenue expected to grow 5.10% next year
    • Earnings estimated to increase by 45.30% this year, an additional 49.50% next year and continue to increase at an annual rate of 20.05% for the next 5 years
    • Wall Street analysts issued 1 strong buy, 4 buys and 4 hold recommendations on the stock


    Most of the normal technical trading strategies have not been reliable on this stock so I suggest you place a moving stop loss 10% below the recent high.

    Tags: CHMT
    Apr 09 3:46 PM | Link | Comment!
  • 5 Popular Stocks - Mixed Results INTC MO SBUX XOM AMZN

    Today I'm highlighting 5 popular stocks with mixed results. These are the 11-15 most popular stocks on the watch lists of the readers of Motley Fool.

    Intel (NASDAQ:INTC)

    Barchart technical indicators:

     

    • 72% Barchart technical sell signals
    • Trend Spotter sell signal
    • Below its 20, 50 and 100 day moving averages
    • 19.05% off its recent high
    • Relative Strength Index 41.62%
    • Recently traded at 30.68 which is below its 50 day moving average of 32.58


    Altria Group (NYSE:MO)

    Barchart technical indicators:

     

    • 16% Barchart technical sell signals
    • Trend Spotter sell signal
    • Above its 20 day moving average but below its 50 and 100 day moving averages
    • 9.05% off its recent high
    • Relative Strength Index 47.09%
    • Recently traded at 51.57 which is below its 50 day moving average of 53.26


    Starbucks (NASDAQ:SBUX)

    Barchart technical indicators:

     

    • 40% Barchart technical buy signals
    • Trend Spotter hold signal
    • Above its 20, 50 and 100 day moving averages
    • 7 new highs and up 2.54% in the last month
    • Relative Strength Index 55.26%
    • Barchart computes a technical support level at 46.67
    • Recently traded at 47.70 with a 50 day moving average of 46.52


    Exxon Mobil (NYSE:XOM)

    Barchart technical indicators:

     

    • 48% Barchart technical sell signals
    • Trend Spotter sell signal
    • Below its 20, 50 and 100 day moving averages
    • 19.82% off its recent high
    • Relative Strength Index 42.51%
    • Recently traded at 84.01 which is below its 50 day moving average of 87.39


    Amazon.com (NASDAQ:AMZN)

    Barchart technical indicators:

     

    • 72% Barchart technical buy signals
    • Trend Spotter sell signal
    • Above its 20, 50 and 100 day moving averages
    • 3 new highs and up .58% in the last month
    • Relative Strength Index 58.39%
    • Barchart computes a technical support level at 372.21
    • Recently traded at 380.74 with a 50 day moving average of 372.45
    Tags: INTC, MO, SBUX, XOM, AMZN
    Apr 09 10:12 AM | Link | Comment!
  • BARCHART MORNING CALL 4/9

    BARCHART MORNING CALL

    Thursday, April 9th, 2015

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    OVERNIGHT MARKETS AND NEWS

    June E-mini S&Ps (ESM15 +0.06%) this morning are little changed. The Euro Stoxx 50 index is up +0.60% on some optimism after Greece made its 450 million euro IMF payment that was due by today and German industrial production rose +0.2% m/m. Asian stocks today closed mixed: Japan +0.75%, Hong Kong +2.70%, China -0.93%, Taiwan -0.04%, Australia -0.48%, Singapore -0.01%, South Korea -0.07%, India +0.62%, and Turkey -0.01%.

    The dollar index (DXY00 +0.27%) is up +0.023 (+0.24%) on an extension of this week's rally. EUR/USD (^EURUSD) is down -0.0012 (-0.11%) and USD/JPY (^USDJPY) is down -0.13 (-0.11%). Jun 10-year T-notes (ZNM15 +0.02%) are up +3 ticks.

    Commodity prices are mildly higher by +0.15%. May crude oil (CLK15 +2.06%) is up $1.27 (+2.52%) on a modest rebound after yesterday's -6.6% plunge on the bearish EIA report. May gasoline (RBK15 +1.49%) is up +0.0342 (+1.97%). May natural gas (NGK15 +0.34%) is up +0.025 (+0.95%).

    Precious metals prices are trading slightly lower due to the higher dollar: Jun gold (GCM15 -0.37%) -3.5 (-0.29%), May silver (SIK15 -0.72%) -0.144 (-0.88%). May copper (HGK15 +0.31%) up +0.016 (+0.59%). Grain prices are trading lower and softs are trading mostly lower.

    Alcoa is down -2.3% in overnight trading after yesterday's earnings news, which was better than expected but caused concern since the company said it expects there to be an aluminum oversupply.

    Greece reportedly made its 450 million euro payment to the IMF that was due today, which boosted Greek stocks today by +0.4% and caused the 10-year Greek bond yield to drop by 29 bp to 11.25%. Greece's Jan unemployment rate fell by -0.2 points to 25.7% from Dec's 25.9%, while Feb industrial production improved to +1.9% y/y from -0.2% y/y in Jan.

    The Bank of England today left its monetary policy unchanged with the base rate at 0.50% and its asset purchase target unchanged at 375 million sterling. That outcome was in line with market expectations.

    The Bank of Korea today left its key interest rate unchanged at 1.75%, which was in line with market expectations.

    The German Feb industrial production report of +0.2% m/m and -0.3% y/y was slightly better than expectations on a month-on-month basis of +0.1%, although the year-on-year level of -0.3% was weaker than expectations of +0.6%. Jan was revised lower to -0.4% m/m and unchanged y/y from +0.6% m/m and +0.9% y/y.

    German exports rose by +1.5% m/m, which was better than market expectations of +1.0% and the Jan report of -2.1%. The German Feb trade balance rose to 19.2 billion euros, which was higher than market expectations of 19.0 billion euros and was up from Jan's 15.9 billion euros.

    U.S. STOCK PREVIEW

    Key U.S. news today includes (1) the weekly initial claims report (expected +16,000 to 284,000 after last week's -20,000 to 268,000) and continuing claims report (expected +20,000 to 2.345 million after last week's -88,000 to 2.325 million), (2) Feb wholesale inventories (expected +0.2% m/m after Jan's +0.2% m/m), and (3) the Treasury's auction of $13 billion of 30-year T-bonds to conclude this week's $58 billion coupon package.

    There are two of the Russell 1000 companies that report earnings today: Constellation Brands (consensus $0.94), Walgreens Boots Alliance (0.95).

    U.S. IPO's that price today include: Professional Diversity Network (NASDAQ:IPDN).

    Equity conferences during the remainder of this week include: Internet of Things (NYSEMKT:IOT) Asia 2015 on Wed-Thu, and JP Morgan Spring Fling Conference on Thu.

    June E-mini S&Ps this morning are trading slightly lower after Alcoa kicked off the earnings season with negative news. Wednesday's closes: S&P 500 +0.27%, Dow Jones +0.15%, Nasdaq +0.83%. The U.S. stock market on Wednesday closed mildly higher on continued optimism about interest rates even though the March 17-18 FOMC minutes said that "several" FOMC members favor a rate hike by June. The overall stock market also help up despite the 6.6% plunge in crude oil prices that hurt the petroleum sector.

    OVERNIGHT U.S. STOCK MOVERS

    • Alcoa (AA +1.79%) is down more than 2% in pre-opening trade after saying late yesterday that it expects an aluminum surplus.
    • Constellation Brands (STZ +0.76%) reported Q4 EPS of $1.03, better than the consensus of 94 cents.
    • Walgreens Boots Alliance (WBA +0.46%) reported Q2 adjusted EPS of $1.18, which was better than the consensus of 95 cents.
    • Bed Bath & Beyond (BBBY +1.28%) fell more than 3% in after-hours trading after disappointing earnings.
    • Brookfield Asset Management (BAM +1.98%) announces 3-for-2 stock split and raised its dividend by 6%.
    • Apogee (APOG +2.31%) rallied 6% in after-hours trading after reporting favorable earnings.
    • Pier 1 Imports (PIR -0.24%) rallied more than 4% in after-hours trading after reporting favorable earnings.
    • Inovio Pharmaceuticals (INO +7.05%) rallied nearly 6% in after-hours trading after news it was selected to lead a $45 million Ebola prevention program.

    MARKET COMMENTS

    Jun 10-year T-note prices this morning are trading mildly higher by +3 ticks. Wednesday's closes: TYM5 unch, FVM5 -0.5. June 10-year T-note prices on Wednesday closed unchanged as the market basically ignored the FOMC minutes saying that "several" FOMC members favor a rate hike by June. There was no real change yesterday in the market consensus that the Fed will be forced to wait until early 2016 to make its first rate hike. The T-note market held its ground despite supply overhang from this week's $58 billion coupon package.

    The dollar index this morning is up +0.023 (+0.24%) on an extension of this week's rally. EUR/USD is down -0.0012 (-0.11%) and USD/JPY is down -0.13 (-0.11%). Wednesday's closes: Dollar index +0.24 (+0.24%), EUR/USD -0.0033 (-0.31%), USD/JPY -0.15 (-0.12%). The dollar index on Wednesday closed mildly higher after news from the FOMC minutes that "several" FOMC members favor a rate hike as early as June. The Bank of Japan on Wednesday left its monetary policy unchanged, which was in line with market expectations.

    May crude oil this morning is up $1.27 (+2.52%) on a modest rebound after yesterday's -6.6% plunge on the bearish EIA report. May gasoline is up +0.0342 (+1.97%). May natural gas is up +0.025 (+0.95%). Wednesday's closes: CLK5 -3.56 (-6.60%), RBK5 -0.1217 (-6.54%). May crude oil and gasoline on Wednesday closed sharply lower after the weekly EIA report showed a massive +10.95 million bbl (+2.3%) increase in U.S. oil inventories to a new record high as well as a +2.1% increase in Cushing crude oil inventories to a new record high. In addition, the EIA report showed that U.S. oil production in the latest reporting week rose by +0.2%, discouraging talk that U.S. oil production might be in for a sustained drop.

    GLOBAL EVENT CALENDAR04/09/2015

    US0830 ETWeekly initial unemployment claims expected +16,000 to 284,000, previous -20,000 to 268,000. Weekly continuing claims expected +20,000 to 2.345 million, previous -88,000 to 2.325 million.
     0830 ETUSDA weekly Export Sales.
     1000 ETFeb wholesale inventories expected +0.2% m/m, Jan +0.2% m/m. Feb wholesale trade sales expected +0.3% m/m, Jan -3.1% m/m.
     1200 ETUSDA Apr WASDE crop production.
     1300 ETTreasury auctions $13 billion 30-year T-bonds.
    GER0200 ETGerman Feb industrial production expected +0.1% m/m and +0.6% y/y, Jan +0.6% m/m and +0.9% y/y.
     0200 ETGerman Feb current account balance expected +17.5 billion euros, Jan +16.8 billion euros.
     0200 ETGerman Feb trade balance expected +19.0 billion euros, Jan +15.9 billion euros. Feb exports expected +1.0% m/m, Jan -2.1% m/m. Feb imports expected +1.2% y/y, Jan -0.2% m/m.
    JPN0200 ETJapan Mar machine tool orders, Feb +28.9% y/y.
    UK0700 ETBOE announces interest rate decision and asset purchase target, expected no change to the 0.50% benchmark rate or to the 375 billion pound asset purchase target.
    CHI2130 ETChina Mar CPI expected +1.3% y/y, Feb +1.4% y/y. Mar PPI expected -4.7% y/y, Feb -4.8% y/y.

    U.S. STOCK CALENDAR04/09/2015

    CompanyTickerTimeEvent DescriptionPeriodEstimate
    Constellation Brands IncSTZ USBef-mktQ4 2015 Earnings ReleaseQ4 20150.941
    Walgreens Boots Alliance IncWBA US7:00Q2 2015 Earnings ReleaseQ2 20150.948
    L Brands IncLB US7:30March 2015 Sales and Revenue Call2015 
    Walgreens Boots Alliance IncWBA US8:30Q2 2015 Earnings CallQ2 2015 
    Constellation Brands IncSTZ US10:30Q4 2015 Earnings CallQ4 2015 
    Adobe Systems IncADBE US12:00Annual General Meeting  
    Gap Inc/TheGPS US March 2015 Sales and Revenue Release2015 
    L Brands IncLB US March 2015 Sales and Revenue Release2015 
    Costco Wholesale CorpCOST US March 2015 Sales and Revenue Release2015

    Tags: AA, STZ, WBA, BBBY, BAM, APOG, PIR, INO, LB, ADBE, GPS, COST
    Apr 09 9:35 AM | Link | Comment!
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