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Proprietary Trading Morning Market Update June 24 2013

Top Economic News:

US Stocks Futures Drop. U.S. stock futures retreated, indicating the Standard & Poor's 500 Index will extend its biggest monthly drop in more than a year, as Chinese equities entered a bear market amid concern a cash crunch will hurt the world's second-largest economy.

Bad Decade For Bonds, Growing Return For Equities. U.S. Treasuries are now providing less than half the yield of stocks, giving investors little reason to keep the three-decade bull market in bonds alive as housing starts, consumer confidence and corporate profits point to an improving economy.

US Bonds, China Deal Blow To Markets. Rising bond yields and growing concerns about the stability of China's financial system rattled global markets Monday.

Pre-Market Activity:

$SPY -0.95%

$VXX +4.64%

$TLT -0.08%

$UUP +0.27%

$USO -0.24%

$UNG +0.59%

$GLD -0.30%

$SLV -0.97%

Early Movers:

$STEC +88.02%

$ISIS +8.73%

$FIO +2.46%

$AGN -3.46%

$DE -2.27%

$LVS-2.96%

$ERIC -3.49%

Upcoming Proprietary Trading Economic Calendar:

Date

Time (NYSE:ET)

Statistic

For

Actual

Briefing Forecast

Market Expects

Prior

Revised From

Jun 25

8:30 AM

Durable Orders

May

-

4.5%

3.0%

3.5%

3.3%

Jun 25

8:30 AM

Durable Goods -ex transportation

May

-

-0.6%

-0.5%

1.5%

1.3%

Jun 25

9:00 AM

Case-Shiller 20-city Index

Apr

-

10.5%

10.5%

10.9%

-

Jun 25

9:00 AM

FHFA Housing Price Index

Apr

-

NA

NA

1.3%

-

Jun 25

10:00 AM

Consumer Confidence

Jun

-

72.0

75.0

76.2

-

Jun 25

10:00 AM

New Home Sales

May

-

470K

460K

454K

-

Proprietary Trading Earnings Announcements:

 

Company

Symbol

EPS
Estimate*

Time

Add to My
Calendar

7days Music Entertainment AG

7DM1.F

N/A

Time Not Supplied

Add

Accretive Health Inc

AH

0.09

Time Not Supplied

Add

ADM Hamburg AG

OEL.F

N/A

Time Not Supplied

Add

American Greetings Corp

AM

0.76

Time Not Supplied

Add

Andor Technology PLC

AND.L

N/A

Before Market Open

Add

Arena Agroindustrie Alimentari SpA

ARE.MI

N/A

Time Not Supplied

Add

Arena Agroindustrie Alimentari SpA

ARE.MI

N/A

Time Not Supplied

Add

BCB Holdings Ltd

BCB.L

N/A

Time Not Supplied

Add

Beale PLC

BAE.L

N/A

Time Not Supplied

Add

Calypte Biomedical Corp

CBMC

N/A

Time Not Supplied

Add

Cambridge Heart Inc

CAMH

N/A

Time Not Supplied

Add

Centrosolar Group AG

C3O.DE

N/A

Time Not Supplied

Add

Centrosolar Group AG

C3O.DE

N/A

Time Not Supplied

Add

China Technology Solar Power Holdings Ltd

8111.HK

N/A

Time Not Supplied

Add

Chinese Energy Holdings Ltd

8009.HK

N/A

Time Not Supplied

Add

Conexion Media Group PLC

CXM.L

N/A

Time Not Supplied

Add

Connemara Mining Company PLC

CON.L

N/A

Time Not Supplied

Add

De Rouck Geomatics SA

ALROU.BR

N/A

Time Not Supplied

Add

Design Bau AG

D2B.DE

N/A

Time Not Supplied

Add

Dmail Group SpA

DMA.MI

N/A

Time Not Supplied

Add

Ecounion AG

KN1.DE

N/A

Time Not Supplied

Add

Enables It Group PLC

EIT.L

N/A

Time Not Supplied

Add

Ennis Inc

EBF

0.33

Time Not Supplied

Add

Essar Energy Plc

ESSR.L

N/A

Before Market Open

Add

Gabetti Property Solutions SpA

GAB.MI

N/A

Time Not Supplied

Add

GenCorp Inc

GY

-0.01

Time Not Supplied

Add

Gesundheitswelt Chiemgau AG

JTH.MU

N/A

Time Not Supplied

Add

Greenbrier Companies Inc

GBX

0.55

Time Not Supplied

Add

JPmorgan Russian Securities PLC

JRS.L

N/A

Time Not Supplied

Add

Mercury Systems Inc

MRCY

-0.08

Time Not Supplied

Add

Metcash Ltd

MTS.AX

N/A

Time Not Supplied

Add

MSC Industrial Direct Co Inc

MSM

0.98

Time Not Supplied

Add

Park Electrochemical Corp

PKE

0.28

Time Not Supplied

Add

Porvair PLC

PRV.L

N/A

Before Market Open

Add

Powerland AG

1PL.DE

N/A

Time Not Supplied

Add

Sao Martinho SA

SMTO3.SA

N/A

After Market Close

Add

SciClone Pharmaceuticals Inc

SCLN

0.09

Time Not Supplied

Add

Sonic Corp

SONC

0.26

After Market Close

Add

Taihua PLC

TAIH.L

N/A

Time Not Supplied

Add

Ten Alps PLC

TAL.L

N/A

Time Not Supplied

Add

Thames River Multi Hedge PCC Ltd

TRMA.L

N/A

Time Not Supplied

Add

Torex Gold Resources Inc

TXG.TO

N/A

Time Not Supplied

Add

Trilogiq SA

ALTRI.PA

N/A

Time Not Supplied

Add

Water Intelligence PLC

WATR.L

N/A

Time Not Supplied

Add

DHI- 2,000 Aug. $24 calls were purchased for $0.64-$0.66 each, against open interest of 1,310 contracts. RD Horton shares are down over 24% in the past five weeks.

HOLX- 3,000 Sep. $22 calls were purchased for $0.44-$0.45 each, against open interest of 2,661 contracts. We highlighted large buyers yesterday in the same option.

HYG- 8,000 Dec. $94 calls were purchased for $0.50 each, against open interest of 121 contracts. Shares of the high yielding corporate bond fund hit a new low for the year today.

WM- A roll up from 23k July $35 calls into 23k July $38 calls for roughly a $2.77 credit. Volume was well above the open interest in the July $38 calls. He/she is taking profits off of the table, but remains bullish into next month's option expiration. Waste Management shares are finding support around the $39.40 level.

AAPL- Shares of Apple are setting up for a test of the $400 level and possibly a retest of the 52-week lows. The call to put ratio in the June 28 weekly options is 1.11, led by activity in the $410 puts and the $420 calls.

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