Thursday, June 30, 2011

Corn Falls, Fertilizer Stocks Drop (NYSE: CF) (NYSE: MOS) (NYSE: AGU) (NYSE: POT)

The USDA’s most recent crop report stated that there is a lot more corn to be expected than previously thought. Corn fell 5%, but it’s also at mid-season and a lot of the corn was planted late. The weather conditions of late summer will have a big impact on how big the corn supply is. Fertilizer stocks are reacting negatively to this news more than other agriculture stocks. CF industries fell 5% to $141.77, Mosaic dropped 1.4% to 67.23, Agrium fell 1.2% to $87.19 and Potash Corp dipped 0.8% to $56.40.

U.S. Dollar Forming a Bottom: Canadians Lineup at the Bank

Canadians were lining up at banks all over Toronto on June 30th as they scamble to exchange their canadian dollars for the U.S. greenback. The USD/CAD dropped sharply from 0.99 to 0.96 in a matter of days giving Canadians one last chance to grab some cheep currency.

The U.S. dollar retains its superior buying power over the canadian dollar. For example, it costs much less for goods and services in the U.S. dollar for dollar, yet one canadian dollar can be exchanged for approximately 1.03 U.S. dollars.

This imbalance has interesting consequences. Andy Kibbens indicated that Canadians are likely to take many more trips to the U.S. this summer as it has become much more affordable. Everything including gas, cars, computers, clothes, food, are all cheaper in the U.S. and it is the source of increased frustration for canadians as the price for their goods and services are not going down in light of their stronger dollar.

The recent fall in the U.S. dollar also makes the U.S. stock markets go up because now it takes more dollars to buy the same value of stock as before. Thus, the U.S. greenback and the S&P 500 have an inverse correlation. That being said, watchout for the S&P 500 to drop off once the USD regains it's strength.

As at June 30, 2011 2:21PM, 1 USD = 0.9644 CAD

Upside Surprise on the Chicago PMI Index Sends Markets Roaring Higher

Unemployment claims came in worse than expected this morning at 428K compared to the expected 419K. However, this bad news was soon forgotten as the Chicago PMI came in way higher than expectations. The PMI was 61.1 compared to 54.1 on the estimates. This sent futures markets shooting higher and shorts scrambled to cover in a short squeeze. Resistance on the S&P futures is at 1320 so look to sell there or perhaps initiate a short position.

The market has a very short term memory, today POMO expires at 11:00AM and the Greeks are doing their austerity measures voting. However, the market seems to not be paying any attention to these events as money managers in North America are wearing rose coloured glasses and simply buying everything possible.

Andy Kibbens thinks that the market is simply buying to boost June performance before the real slide in July. Andy initiated a buy the market a few days ago but he feels stocks have run up too much too quickly. It may be wise to take profits off the table at this point, said Kibbens.

Google (NASDAQ: GOOG) Breaks the $500 Mark

Google Inc (NASDAQ: GOOG) rose above $500 in early trading today. Recently the company has announced a new project, Google+, which includes powerful social networking features that look promising. Google, which in the past few months has switched CEOs to founder Larry Page is now stepping up the battle against facebook. The Google+ project offers a better way to organize your friends into circles. While this is a simple feature, it can make a large difference to users who have many groups of friends. You have even share videos on the fly or chat in real time with your closest friends, using the new Huddle feature. While Android devices are flying off the shelves, these new features will help propel the rapid growth in the mobile market. Facebook was not exactly built for mobile handheld devices, but Google+'s new features are optimized to give users the best experience possible on their handhelds.

S&P Downgrades Sino-Forest's Credit Rating (TSE: TRE)

Sino-Forest Corp, who has had fraud allegations hanging over their company, had their credit rating downgraded by Standard & Poor’s from a B+ to a BB Today. S&P said Sino-Forest faces significant challenges. They can’t collect cash from its China based business that is held by offshore subsidiaries. They also have less access to capital markets after the report from Muddy Waters LLC. Although the allegations are still unclear, credit analysts at S&P strongly believes TRE have a lack of access to operational cash and revenue recognition. They believe it will take several years for TRE to change their business model in China because management will be too busy defending themselves against these allegations. S&P believes TRE have a good liquidity position for the rest of 2011, but in 2012 they will have interest expenses of $125 million and in 2013 they have $345 million in convertible bonds due. If TRE cannot fix their business model before 2013, there is a possibility that they will not be able to repay or refinance that debt.

Wednesday, June 29, 2011

Visa and MasterCard Soar as Fed Lowers Debit Card Fee's (NYSE: V) (NYSE: MA)

MasterCard Inc. and Visa Inc., the world’s biggest consumer-payment companies, both increased more than 9% after the Federal Reserve moved to set a limit on debit-card transaction feeds at 21 cents. Visa jumped 9.1% to $82.15 this afternoon and MasterCard increased 9.2% to $303.92. The cap will reduce the fees businesses pay to accept debit cards. The cap on the debit cards was mandated by the Dodd-Frank Act.

Bank of America to Pay $8.5 Billion (NYSE: BAC)

Bank of America Corp. reached a deal to pay out $8.5 billion to investors for the repurchase of failed home mortgages made by Countrywide Financial Corp. This settlement will end the disagreement over 530 residential mortgage-backed securities which had a balance of $424 billion. With the $8.5 billion payment and a possible future payment of $5.5 billion, BAC says it will have resolved nearly all of the problems related to mortgages made by Countrywide. BAC expects to lose up to $9.1 billion in the second quarter. Essentially all of their earnings in the second quarter will be wiped away with this settlement. This is not a good sign for investors as the second quarter ends on Thursday and earnings season is around the corner. It is expected that their earnings will be very poor but their outlook may be strong considering all these issues are being resolved.

Youku and Warner Brothers Enter Into Movie Deal (NYSE: YOKU)

Youku, an internet video streaming company based in China, has agreed with Warner Brothers to offer pay per view movies on their new online paid content platform. This agreement will last three years and Youku will be adding 400 to 450 Warner Brother movies to their premium library. Youku premium began beta testing in late 2010 and has since processed 200,000 paid transactions. Youku premium officially launched yesterday as they secured a contract with Warner Brothers. Youku is on the right path to become the Asian NetFlix as they keep adding more titles to their library. Youku is one of the few places in Asia which allows the public to view foreign movies legally which makes them an attractive business in Asia. Watching movies online is becoming very popular and it should be expected that Youku will continue growing. They are definitely a company to look out for in the near future.

Sell The News - Greek Austerity Vote Passes

This morning around 9:15 the Greek Austerity Vote passed with a slim majority of 154 for votes to 146 against. Greece just voted through the Austerity plan which means that they are going to raise taxes and sell government buildings to pay off near maturing greek bonds.

There’s riots and stuff going on in the streets now because people are going to be taxed to death and government is reducing spending so less services. This is bad news for all greeks.

The financial markets we're pricing in the vote to pass as futures were up sharply overnight with the S&P futures climbing up to 1304. However, sell the news kicked in soon after the vote sending the S&P down nearly 10 points. Along with the equities open at 9:30AM EST, selling pressure sent stocks even lower. Although stocks are higher than yesterday's close, the heard mentality is kicking in and everyone has their fingers on the sell buttons.

Tuesday, June 28, 2011

PotashCorp Preparing for the Future (NYSE: POT)

Ceres Solutions are preparing for expected growth in fertilizer demand. The CEO of Ceres sees the evolution of agriculture and the next stage of growth for Ceres. Ceres are following in the footsteps of PotashCorp, who invested $7 billion to build long-term potash capacity, by developing new facilities. The new facility built as a joint venture with CHS can handle 90 car trains and can hold 34,000 tons of dry fertilizer and 15,000 tons of liquid products. This facility can blend 24 tons of fertilizer and store it in a truck in 6 minutes, which is a huge improvement from what was happening before. PotashCorp will be using this facility and it is expected to increase their efficiency. They can use the facility by sending a dedicated train to the new facility and unload there while getting the cars back for the next shipment. It will improve POT’s distribution model immediately. The benefits of this facility will be very big as there is a global increase in food demand and farmer work.

Microsoft To Release New Office Versions (NASDAQ: MSFT)

Microsoft is going to be using cloud computer to release a new revamped online version their Office software suite. They are developing online versions of applications including: Outlook email, Excel spreadsheets and SharePoint. Customers will be able to access these applications on a number of devices. They are releasing these applications because they want to push back Google who has been taking a percentage of their market share with web-only applications. Microsoft shares increased 3.7% yesterday, which is the largest gain in a single trading day since September.

Friday, June 24, 2011

RIM Unlikely To Be Bought (NASDAQ: RIMM) (TSE: RIM)

Research In Motion, Canadian smartphone marker, will most likely remain Canadian for a long time. An analyst at the National Bank decided to put the RIM buyout rumors to rest today. The analyst says that there are only a few companies that can buy RIM and these companies are the least likely to do so. He also argues the company is presently more valuable than its current market cap would suggest. Any company considering to buy RIM would have to do extensive due diligence which would take several quarters. Also, since RIM’s current strategy is uncertain it is unlikely they will be bought out. The analyst believes one of the best suitors for RIM would be Microsoft, but they are currently in an agreement with Nokia. If somehow Samsung came into the picture and bought Nokia, then maybe Microsoft would like to buy RIM.

Thursday, June 23, 2011

Could Tech be Stabilizing?

While stocks are down heavily this morning, it looks like tech, which has been beaten brutally over the last month is finally starting to stabilize. The leader in the sector, Apple Inc, is showing positive gains this morning as the stock is up $1.74. While other tech stocks are down, they are showing upward momentum. Stocks within a sector usually follow a leader, which in this case is Apple, as a technical indicator. The sell off has brought down the price of every tech stock making them all look cheap, even though the fundamentals have not changed. Although analysts have been downgrading tech stocks left and right, there is still a strong mobile Internet trend which is happening globally. Apple's continuing strong sales could raise all boats even in this rocky market. From chip makers to the cell carriers, to back end networking firms. While the summer is usually a slow month for tech, the push to mobile media is still very strong.

Markets Fall, Commodity Sell-Off

Markets in North America fell today after a sell-off in commodities. The S&P/TSX Composite Index fell 156 points or 1.2% to 12,904 during the afternoon today. The Dow Jones industrials fell 148 points or 1.2% to 11,962. The Nasdaq composite dipped 7 points or 0.2% to 2662 while the S&P 500 dropped 14 points or 1.1% to 1,274. Oil was down today almost $5 and was trading lower by $3.72 at $91.69 US a barrel. This happened after the news that International Energy Agency would release 60 million barrels of oil from emergency stocks in the next 30 days to compensate for the stoppage of Libyan production.

Markets Seen Opening Lower on Worst Than Expected Unemployment Claims

The S&P futures are down 12.5 points to 1267.25 on Thursday morning as unemployment claims in the U.S. rose to 429K from 420K on expectations of 414K. All markets are getting hammered on this news. It will be a very interesting day as there was also an earthquake in Japan last night of 6.7 magnitude and a Tsunami watch has been issued.

The S&P broke it's 4 day rally yesterday and today is looking even worse. Stocks are down across the board in pre-market trading.

Wednesday, June 22, 2011

London Stock Exchange Proposes Special Dividend to TSE

The London Stock Exchange and Toronto stock exchange have agreed to pay a $680 million special dividend to shareholders if the merger goes through. This special dividend boosts LSE’s $3.6 billion offer over the Maple Groups offer of $3.8 billion. The voting for the merger will begin on June 30th. This potential deal with give shareholders cash upfront and the opportunity to participate in the ownership of the biggest exchanges in the world. Will this deal influence current share prices in the TSE?

Analyst Upgrades and Downgrades: (ESS), (PCBK)

Essex Property (ESS) recently had their rating decreased from Outperform to Mkt Perform. FBR Capital is the brokerage firm which is currently analyzing this company and found it necessary to change their rating. This is usually a bearish sign for the stock, and this brokerage house may tell its clients to sell the stock. The share prices may fall because of this action. Analysts believe that the company's share price may begin to fall. The target price is currently set at $138 per share by the brokerage firm. Shares of ESS fell by 0.58% or $-0.8/share to $136.91. In the past year, the shares have traded as low as $92.62 and as high as $137.40. On average, 281549 shares of ESS exchange hands on a given day and today's volume is recorded at 165802.

Pacific Continental (PCBK) recently had their rating changed from Buy to Hold. Wunderlich is the brokerage firm which is currently analyzing this company and found it necessary to change their rating. This is usually a bearish sign for the stock, and this brokerage house may tell its clients to sell the stock. The share prices may fall because of this action. Analysts believe that the company's share price may begin to fall. The target price is currently set at $10 per share by the brokerage firm. Shares of PCBK fell by 1.66% or $-0.16/share to $9.45. In the past year, the shares have traded as low as $8.05 and as high as $10.70. On average, 26106 shares of PCBK exchange hands on a given day and today's volume is recorded at 18173.

Upgrades and Downgrades of the Day: (CTCT), (SCBT), (CVBF), (FST), (FRX)

Constant Contact (CTCT) is currently being analyzed by the brokerage firm Needham. They have just changed their rating from Hold to Buy. This indicates that the company may doing doing better than investors expect. Look for potential buying pressure or an upside move in the share price. The target price is currently set at $29 per share by the brokerage firm. Shares of CTCT traded higher by 3.81% or $0.91/share to $24.82. In the past year, the shares have traded as low as $16.75 and as high as $36.33. On average, 551892 shares of CTCT exchange hands on a given day and today's volume is recorded at 388638.

Wunderlich, the brokerage firm, has recently increased the rating on SCBT Financial (SCBT). They upped the rating from Hold to Buy. The brokerage firm believes the company may be on the upswing and there could be potential value in buying the stock. The target price is currently set at $36 per share by the brokerage firm. Shares of SCBT traded higher by 0.24% or $0.07/share to $29.10. In the past year, the shares have traded as low as $28.28 and as high as $36.41. On average, 27972 shares of SCBT exchange hands on a given day and today's volume is recorded at 29715.

Wunderlich, the brokerage firm, has recently increased the rating on CVB Financial (CVBF). They upped the rating from Hold to Buy. The brokerage firm believes the company may be on the upswing and there could be potential value in buying the stock. The target price is currently set at $11 per share by the brokerage firm. Shares of CVBF traded higher by 0.33% or $0.03/share to $9.11. In the past year, the shares have traded as low as $6.61 and as high as $10.99. On average, 653828 shares of CVBF exchange hands on a given day and today's volume is recorded at 361932.

Forest Oil (FST) recently had their rating increased from Hold to Buy. Stifel Nicolaus is the brokerage firm which is currently analyzing this company and found it necessary to change their rating. This is usually a bullish sign for the company's share price, as these brokerages begin to tell their clients to start buying the upgraded stock. The shares may see a continued uptrend because of this. Analysts believe that the company's share price may begin to improve. The target price is currently set at $34 per share by the brokerage firm. Shares of FST traded higher by 3.61% or $0.95/share to $27.25. In the past year, the shares have traded as low as $24.83 and as high as $40.23. On average, 2671250 shares of FST exchange hands on a given day and today's volume is recorded at 1899599.

Forest Labs (FRX) is currently being analyzed by the brokerage firm Argus. They have just increased their rating from Hold to Buy. This indicates that the company may doing doing better than investors expect. Look for potential buying pressure or an upside move in the share price. The target price is currently set at $46 per share by the brokerage firm. Shares of FRX traded higher by 0.35% or $0.14/share to $40.29. In the past year, the shares have traded as low as $24.17 and as high as $40.29. On average, 3267260 shares of FRX exchange hands on a given day and today's volume is recorded at 1650039.

Brokerage House Upgrades and Downgrades: (HXL), (HSOL), (SNV), (UDR), (PPC)

Hexcel (HXL) recently had their rating increased from Hold to Buy. KeyBanc Capital Mkts is the brokerage firm which is currently analyzing this company and found it necessary to change their rating. This is usually a bullish sign for the company's share price, as these brokerages begin to tell their clients to start buying the upgraded stock. The shares may see a continued uptrend because of this. Analysts believe that the company's share price may begin to improve. The target price is currently set at $28 per share by the brokerage firm. Shares of HXL traded higher by 1.48% or $0.31/share to $21.25. In the past year, the shares have traded as low as $14.89 and as high as $22.08. On average, 719603 shares of HXL exchange hands on a given day and today's volume is recorded at 410763.

Hanwha SolarOne (HSOL) recently had their rating increased from Neutral to Buy. Collins Stewart is the brokerage firm which is currently analyzing this company and found it necessary to change their rating. This is usually a bullish sign for the company's share price, as these brokerages begin to tell their clients to start buying the upgraded stock. The shares may see a continued uptrend because of this. Analysts believe that the company's share price may begin to improve. The target price is currently set at $7 per share by the brokerage firm. Shares of HSOL traded higher by 16.3% or $0.855/share to $6.10. In the past year, the shares have traded as low as $4.83 and as high as $13.48. On average, 976514 shares of HSOL exchange hands on a given day and today's volume is recorded at 3605895.

Synovus (SNV) is currently being analyzed by the brokerage firm Wunderlich. They have just changed their rating from Buy to Hold. This indicates that the company may not be doing as well as investors were expecting. Look for potential selling pressure or a downside move in the share price. The target price is currently set at $2 per share by the brokerage firm. Shares of SNV fell by 1.08% or $-0.025/share to $2.30. In the past year, the shares have traded as low as $1.94 and as high as $2.99. On average, 8200180 shares of SNV exchange hands on a given day and today's volume is recorded at 2190225.

UDR (UDR) recently had their rating decreased from Mkt Perform to Underperform. FBR Capital is the brokerage firm which is currently analyzing this company and found it necessary to change their rating. This is usually a bearish sign for the stock, and this brokerage house may tell its clients to sell the stock. The share prices may fall because of this action. Analysts believe that the company's share price may begin to fall. The target price is currently set at $24 per share by the brokerage firm. Shares of UDR traded higher by 0.16% or $0.04/share to $25.07. In the past year, the shares have traded as low as $17.78 and as high as $26.46. On average, 1603560 shares of UDR exchange hands on a given day and today's volume is recorded at 1768036.

BB&T Capital Mkts, the brokerage firm, has recently changed the rating on Pilgrim's Pride (PPC). They upped the rating from Hold to Buy. The brokerage firm believes the company may be on the upswing and there could be potential value in buying the stock. Shares of PPC traded higher by 11.35% or $0.53/share to $5.20. In the past year, the shares have traded as low as $4.61 and as high as $8.61. On average, 795738 shares of PPC exchange hands on a given day and today's volume is recorded at 1469966.

Brokerage Firm Gives RIM Buy Rating (NASDAQ: RIMM)

Research In Motion shares fell Wednesday on a report that said the company has lowered their internal projections for the PlayBook tablet because of low sales. The report released today said RIM cut their sales targets for the PlayBook to between 800,000 and 900,000 from their previous goal of 2.4 million units. Even with this bad news, one brokerage firm rated RIM as outperform or buy on the view that the BlackBerry is in high demand internationally which will help counter the market share loss in North America. The firm gave RIM this rating because they believe RIM’s international business and software have a longer tail than many shareholders expect. Shares fell 2.8% to $27.75 this morning.

Tuesday, June 21, 2011

Stock Market Upgrades and Downgrades: (BDN), (PGR), (USAP), (PLD), (BXP)

RBC Capital Mkts, the brokerage firm, has recently decreased the rating on Brandywine Realty (BDN). They lowered the rating from Outperform to Sector Perform. The brokerage firm believes the company is on the downswing and there could be potential savings or capital preservation in selling the stock now. The target price is currently set at $13 per share by the brokerage firm. Shares of BDN fell by 0.79% or $-0.09/share to $11.37. In the past year, the shares have traded as low as $9.82 and as high as $13.08. On average, 1239600 shares of BDN exchange hands on a given day and today's volume is recorded at 909778.

Ticonderoga, the brokerage firm, has recently increased the rating on Progressive (PGR). They upped the rating from Neutral to Buy. The brokerage firm believes the company may be on the upswing and there could be potential value in buying the stock. The target price is currently set at $24 per share by the brokerage firm. Shares of PGR traded higher by 1.48% or $0.305/share to $20.84. In the past year, the shares have traded as low as $18.41 and as high as $22.13. On average, 3429150 shares of PGR exchange hands on a given day and today's volume is recorded at 3250890.

Universal Stainless/Alloy (USAP) recently had their rating increased from Neutral to Buy. Davenport is the brokerage firm which is currently analyzing this company and found it necessary to change their rating. This is usually a bullish sign for the company's share price, as these brokerages begin to tell their clients to start buying the upgraded stock. The shares may see a continued uptrend because of this. Analysts believe that the company's share price may begin to improve. The target price is currently set at $61 per share by the brokerage firm. Shares of USAP traded higher by 2.76% or $1.12/share to $41.77. In the past year, the shares have traded as low as $15.68 and as high as $41.76. On average, 66953 shares of USAP exchange hands on a given day and today's volume is recorded at 105760.

ProLogis (PLD) is currently being analyzed by the brokerage firm UBS. They have just changed their rating from Neutral to Buy. This indicates that the company may doing doing better than investors expect. Look for potential buying pressure or an upside move in the share price. The target price is currently set at $37 per share by the brokerage firm. Shares of PLD traded higher by 0.09% or $0.03/share to $34.10. In the past year, the shares have traded as low as $22.05 and as high as $37.44. On average, 2990750 shares of PLD exchange hands on a given day and today's volume is recorded at 2290796.

Boston Properties (BXP) recently had their rating increased from Sector Perform to Outperform. RBC Capital Mkts is the brokerage firm which is currently analyzing this company and found it necessary to change their rating. This is usually a bullish sign for the company's share price, as these brokerages begin to tell their clients to start buying the upgraded stock. The shares may see a continued uptrend because of this. Analysts believe that the company's share price may begin to improve. The target price is currently set at $121 per share by the brokerage firm. Shares of BXP traded higher by 0.87% or $0.92/share to $106.60. In the past year, the shares have traded as low as $68.47 and as high as $106.77. On average, 1046670 shares of BXP exchange hands on a given day and today's volume is recorded at 595942.

Short Covering Induced by Big Money Managers

The sharp run up in the S&P today is suspect to market manipulation. Large volume on the buy side and it all stopped just at lunch time. Andy Kibbens (Co-CEO of TMAO and TickrWatch) said that "the big boys are pushing stocks higher for a last opportunity to load up on their short positions". This indredible market volatility is frightening to most retail investors and they should really tread with caution here as there are much larger forces in the game.

Traders with lots of buying power will frequently use their power to move the market up or down to trigger technical levels causing people to execute their stop losses. The move started overnight where there is very little volume. That is the perfect time for these guys to start a move. It then exploded higher when the Existing Home Sales data was released when money managers bought anything and everything to make it seem like there's nothing bad in the financial markets anymore.

However, U.S. and Canadian household debt are at record highs just this past week. Unemployment is still extremely high and the U.S. dollar loses it's buying power little by little everyday. The U.S. consumer is feeling the pain from higher food and gas prices and it is slowly working its way into the economy.

The E-Mini futures climbed from over night lows at 1272 to a high of 1291.25. With low margin requirements, such a move can be devestating on traders with small accounts. Some U.S. brokers offer $500 intra-day margin for the E-Mini. A ten point move equates to a $500 swing and today we saw nearly a 20 point move. Thus, any trader short today with a small account likely got margin called and had to buy into the rally fueling it ever higher. Andy Kibbens added ("This is the type of activity that results in people blow up their trading accounts. It is very risky to be trading futures in this environment as they are highly leveraged securities"). Andy also indicated that he sees the S&P falling below 1250 in the near future and he would be selling into these type of rallies since they are likely to be short lived.

VMWare Does Machines! (NYSE: VMW)

VMWare, the king of virtualization, is up 3.4% so far today. While the tech stock trades on the New York Stock Exchange as opposed to the NASDAQ, where most other tech stocks trades, VMWare has not participated in the brutal sell off seen in the technology sector.

Virtualization, which goes hand in hand with cloud computing, has been keeping VMWare very stable during this tough month. Their virtual machines allow hardware to be shared among many instances of operating system software for instance. This is essential for divvying up the backend resources in a cloud-based system. It allows companies to save money on hardware, and VMWare is at the forefront of this movement.

Sino-Forest Loses Biggest Shareholder (TSE: TRE)

Sino-Forest Corp. has fell 89% since being targeted by short seller Carson Block and just recently has lost their biggest shareholders after Paulson & Co. sold all their TRE stock. Paulson said yesterday that they sold all of their 34.7 million shares. TRE has dropped as low as C$1.99 from C$18.21 after Block said the company overstated its production. TRE shares have lost about $3.9 billion in value after Block released their report. As of this morning, TRE has fell 70 cents or 26% to C$2.03.

First Day of Summer Rally (NASDAQ: AAPL) (NASDAQ: SWKS) (NASDAQ: GOOG)

Tech stocks are leading the way this morning on a beautiful summer day's rally. Apple (NASDAQ: AAPL) is up $6 or 1.89% while Google Inc (NASDAQ: GOOG) is up $8 or 1.69%.

Even companies that have been bashed by the relentless selling, such as Skyworks Solutions (NASDAQ: SWKS) and Triquint Semi (NASDAQ: TQNT) are up nicely. In other sectors, banks such as Bank of America (NYSE: BAC) are keeping afloat. Over the past few weeks, the market has been beaten down as the economy is showing signs of a slowing recovery. Will this rally be a short term bear market rally? It is difficult to tell. Investors have been dumping every company they own in search for a safe haven. Cash has been a top investment in the past few weeks.

Stocks Rally on Existing Home Sales Number

Stocks are up across the board today with the S&P rallying nicely breaking the technical downtrend and regaining investor confidence. At 10:00am today, the Existing Home Sales numbers came out in line with expectations at 4.81M compared to estimates of 4.82M.

The market has been beaten down so much lately that simply avoiding bad news is good news. We have seen buying pressure come in the S&P around the 1250 level with some sharp selling action showing that big players are manipulating the price levels to hit stops and accumulate large positions.

Gold, Oil, Silver, and Copper are all up as commodities rally along with the market. The U.S. dollar is only down slightly which helps boost equity and commodity prices.

Remain cautious as the problems with European financials and the Chinese housing situation have not yet gone away. The media sometimes switches their attention from bearish news to bullish news and it causes a broad market rally but they can change their perspective at any moment.

The S&P is up 11 points, the DOW is up 70 points, and the NASDAQ is up 29 points.

Monday, June 20, 2011

Sino-Forest Overstating Assets? (TSE: TRE)

Sino-Forest Corp dropped as much as 27% today after a newspaper said the company may have overstated the value of some of their assets. Shares fell 55 cents to $2.64 as of this afternoon. Inconsistencies have been found in the valuation of TRE by Chinese government officials and forestry experts. A plantation where TRE bought timber rights in 2007 is less than the 200,000 hectares it claims. Some analysts have said their past ratings, estimates and valuations should no longer be relied upon.

Atlantic Power Buys Capital Power Income

Atlantic Power Corp announced today that they will buy Capital Power Income L.P. for C$1.10 billion in a deal which would more than double their power generating capacity. Capital Power can choose to be paid with 1.30 shares of Atlantic Power for each share they hold, or receive C$19.40 per unit in cash. The offer for cash per share represents a premium of 4% as Capital Power closed at C$18.63 on Friday. Atlantic Power shares increased 11 Canadian cents to $15.07 this morning.

Friday, June 17, 2011

Brokers Downgrade RIM (NASDAQ: RIMM)

Research in Motion released their Q1 earnings yesterday, and since earnings and revenue did not meet expectations the stock price has dropped 20% since then. This has led to half a dozen brokers downgrading the stock and also decreasing their price targets. Mark McKechnie of ThinkEquity dropped his target price to $32 a share and changes his rating from buy to neutral. RIM’s long term future is in question, which is causing brokers to downgrade RIM. Jim Suva of Citigroup changes his from from hold to sell, saying that there seems to be a structural problem at RIM. Most brokers dropped their target price from $45 to $35.

Upgrades and Downgrades for Today: (JRJC)

Rodman & Renshaw, the brokerage firm, has recently changed the rating on China Finance Online (JRJC). They lowered the rating from Mkt Outperform to Mkt Perform. The brokerage firm believes the company is on the downswing and there could be potential savings or capital preservation in selling the stock now. Shares of JRJC fell by 20.71% or $-0.82/share to $3.14. In the past year, the shares have traded as low as $3.65 and as high as $8.59. On average, 130905 shares of JRJC exchange hands on a given day and today's volume is recorded at 396707.

Bridgewater Purchased by Amdocs (TSE: BWC) (NYSE: DOX)

Bridgewater Systems Corp. announced today that they have agreed to a friendly takeover offer from Amdocs Ltd. This takeover currently values Bridgewater at $211 million. The deal consists of a cash purchase of $8.20 a share which includes a 30% premium over their closing price on Thursday. CEO of Bridgewater believes this will allow them to accelerate their corporate growth strategy which is focused on global expansion. Amdocs Group president said this is an extension of their strategy to support service providers as they look to change their businesses in anticipation of new market opportunities such as 4G and machine-to-machine. Amdocs also said the takeover will not have any material impacts until after 2012 full year earnings.

Thursday, June 16, 2011

RIM Drops 14% After Earnings Results. Possible Takeover Candidate? (NASDAQ: RIMM)

Research In Motion announced Today that they are planning to cut some jobs as their first quarter revenue was $4.9 billion and had an earnings per share $1.33. Analysts had expected revenue of $5.15 billion and earnings per share of $1.32. RIM said the job cutting will be focused on taking out redundancies and reallocation of resources. They believe this will allow them to focus on areas that offer the highest amount of growth. This is expected to be implemented in the second quarter with results impacting the third quarter and beyond. Their share price has dropped about 14% in after-hours trading. This makes investors wonder if RIM is a takeover candidate. If their price keeps on decreasing will they welcome a takeover? One should believe Microsoft could be the ideal candidate for this type of takeover.

Fortune Oil and Gas Purchases New Property (FOGC:OTC US)

Fortune Oil and Gas, Inc. has purchased a mining property located in the mining district of Kaslo, B.C. The property is located in the Slocan area of B.C. which has easy access from Kalso and New Denver. The Whitewater Mine has been located at this location previously. This location has produced 260,542 tons of ore which contained 1435 oz gold, 3,152,130 oz of silver and 28,017,903 lbs of lead. The entire region is known for its high grade mineralization. Reports have shown that there is a possibility that the area could be extended further from the deposits that were exploited in the past.

Intertainment Purchases DealFrenzy.com (TSE: INT.V)

Interntainment Media Inc. announced that they will be purchasing DealFrenzy.com to create a futuristic revenue platform similar to Groupon’s. Intertainment will essentially acquire all turn-key assets of DealFrenzy which include backdone technology, deals with major brands, deal pipeline and an experienced sales and support team. The deal is financed by cash and common stock, with $500,000 in cash and $200,000 in common stock. The stock is priced at $1 CDN per common share. DealFrenzy.com is expected to go live in July 2011. Members who register ahead of time will receive special VIP offers. The CEO of Intertainment stated this acquisition is a part of their merger and acquisition strategy as DealFrenzy is seen as a revenue program that fits into their existing suite of services and technology.

Kroger Beats Expectations! (NYSE: KR)

Kroger announced their earnings today which included them raising their guidance for 2011 earnings and same store sales, which gave a boost to the supermarket sector. Kroger announced earnings per share of 70 cents, which was 6 cents better than analyst expectations. Same store sales increased 4.6%, this was excluding fuel. As mentioned, they changed their 2011 guidance to between $1.80 and $1.92. Same store sales should increase 3.5% to 4.5%, which is up from previous estimates of 3% to 4%. Shares increased $1.04 or 4.53% to $23.99 this morning.

Wednesday, June 15, 2011

Troubles in Greece Killing Oil Prices (NYSE: CVX ) (NYSE: XOM )

Crude oil futures fell Today, which was hurt by a jump in the US dollar against the euro as Greece’s debt troubles are getting worse. Oil dropped $4.09 or 4.1% to $95.29 a barrel on the New York Mercantile Exchange. Present of Rittersbusch and Associates, Jim Ritterbusch, said oil “is selling off because the market is responding to a sharp plunge to the euro.” This debt crisis as dominated headlines as reports are saying the PM of Greece has offered to step down. Energy companies Chevron and Exxon both took hits today. Chevron fell $2.34 or 2.33% to $98.26 a share, and Exxon fell $1.61 or 2% to $78.94 a share.

Stock Market Upgrades and Downgrades: (ARUN), (SLG), (CPST)

Aruba Networks (ARUN) recently had their rating increased from Neutral to Buy. UBS is the brokerage firm which is currently analyzing this company and found it necessary to change their rating. This is usually a bullish sign for the company's share price, as these brokerages begin to tell their clients to start buying the upgraded stock. The shares may see a continued uptrend because of this. Analysts believe that the company's share price may begin to improve. The target price is currently set at $33 per share by the brokerage firm. Shares of ARUN fell by 4.06% or $-1.039/share to $24.53. In the past year, the shares have traded as low as $13.80 and as high as $36.40. On average, 2993580 shares of ARUN exchange hands on a given day and today's volume is recorded at 4051786.

SL Green Rlty (SLG) is currently being analyzed by the brokerage firm FBR Capital. They have just changed their rating from Mkt Perform to Outperform. This indicates that the company may doing doing better than investors expect. Look for potential buying pressure or an upside move in the share price. The target price is currently set at $95 per share by the brokerage firm. Shares of SLG fell by 2.5% or $-2.06/share to $80.38. In the past year, the shares have traded as low as $50.11 and as high as $90.01. On average, 831359 shares of SLG exchange hands on a given day and today's volume is recorded at 685693.

Capstone Turbine (CPST) is currently being analyzed by the brokerage firm Ardour Capital. They have just changed their rating from Buy to Accumulate. This indicates that the company may not be doing as well as investors were expecting. Look for potential selling pressure or a downside move in the share price. The target price is currently set at $1 per share by the brokerage firm. Shares of CPST fell by 17.89% or $-0.3068/share to $1.41. In the past year, the shares have traded as low as $0.62 and as high as $2.14. On average, 4290290 shares of CPST exchange hands on a given day and today's volume is recorded at 10442966.

Upgrades and Downgrades for Today: (MYGN), (WDC), (MIPS), (EEP), (TTMI)

Myriad Genetics (MYGN) recently had their rating decreased from Buy to Hold. Auriga is the brokerage firm which is currently analyzing this company and found it necessary to change their rating. This is usually a bearish sign for the stock, and this brokerage house may tell its clients to sell the stock. The share prices may fall because of this action. Analysts believe that the company's share price may begin to fall. The target price is currently set at $25 per share by the brokerage firm. Shares of MYGN fell by 2.67% or $-0.645/share to $23.54. In the past year, the shares have traded as low as $14.11 and as high as $25.89. On average, 894765 shares of MYGN exchange hands on a given day and today's volume is recorded at 1680517.

Western Digital (WDC) is currently being analyzed by the brokerage firm Standpoint Research. They have just changed their rating from Hold to Buy. This indicates that the company may doing doing better than investors expect. Look for potential buying pressure or an upside move in the share price. The target price is currently set at $42 per share by the brokerage firm. Shares of WDC fell by 2.21% or $-0.78/share to $34.58. In the past year, the shares have traded as low as $23.06 and as high as $41.87. On average, 3659750 shares of WDC exchange hands on a given day and today's volume is recorded at 1793994.

MIPS Tech (MIPS) is currently being analyzed by the brokerage firm Dougherty & Company. They have just increased their rating from Neutral to Buy. This indicates that the company may doing doing better than investors expect. Look for potential buying pressure or an upside move in the share price. The target price is currently set at $8 per share by the brokerage firm. Shares of MIPS traded higher by 2.31% or $0.15/share to $6.63. In the past year, the shares have traded as low as $4.82 and as high as $18.19. On average, 2218180 shares of MIPS exchange hands on a given day and today's volume is recorded at 1558082.

Enbridge Energy (EEP) is currently being analyzed by the brokerage firm Morgan Keegan. They have just changed their rating from Mkt Perform to Outperform. This indicates that the company may doing doing better than investors expect. Look for potential buying pressure or an upside move in the share price. The target price is currently set at $35 per share by the brokerage firm. Shares of EEP fell by 0.9% or $-0.2694/share to $29.68. In the past year, the shares have traded as low as $25.19 and as high as $34.58. On average, 451551 shares of EEP exchange hands on a given day and today's volume is recorded at 441487.

TTM Tech (TTMI) is currently being analyzed by the brokerage firm UBS. They have just changed their rating from Neutral to Buy. This indicates that the company may doing doing better than investors expect. Look for potential buying pressure or an upside move in the share price. The target price is currently set at $20 per share by the brokerage firm. Shares of TTMI traded higher by 4.95% or $0.7/share to $14.84. In the past year, the shares have traded as low as $8.04 and as high as $19.64. On average, 871838 shares of TTMI exchange hands on a given day and today's volume is recorded at 1353926.

Pandora Makes Debut! (NYSE: P)

Pandora Media Inc., the internet radio service company, had their IPO debut today and shares increased more than 50% this morning. Pandora opened at $20 a share and went as high as $26 a share, up from the offering price of $16 a share. When Pandora was at $26 a share, the company was valued at $4.2 billion. Pandora’s offering comes during a frenzy of high profile internet IPO’s that just begun to come into the market. Pandora started their business in 2000 as a music recommendation service. In 2005 they launched their internet radio service which lets customer’s stream music over the internet. Shares can be volatile on their first day of trading. For example, LinkedIn issued their IPO at $45 a share, and on that same day the price as at $100 a share. Some other high profile companies that are expected to make their debut soon are Groupon Inc., Zynga and Facebook which is scheduled to have their IPO before May 2012.

Tree Top Town (TSE: TRE)

Shares of TRE fell by another 8.63% today to $3.07 this morning. Sino-Forest Corporation's stock has fallen drastically from its high. Just a week ago, a report was released by Muddy Waters, highlighting possible fraud and stealing of money that may be conducted by Sino Forest's operations in China. Although Muddy Waters is a small firm, the company as a solid track record for calling out fraud. Photo's along with an in depth analysis of Sino Forest's Chinese operations were the cause of the heavy selling. On average, 4130690 shares of TRE.TO exchange hands on a given day. Volume has greatly increased since the incident.

Tuesday, June 14, 2011

Google Diversifies Portfolio (NASDAQ: GOOG )

Google has diversified their investment portfolio by increasing their renewable-energy investments by providing $280 million to a portfolio of solar projects installed by Solar City Inc. This represents Google’s search for returns in low-risk projects and also their strong belief that clean energy makes good business sense. For the next two years Google will supply the funds and get a return from the lease payments as well as federal tax credits that add to solar projects. These investments usually provide an after-tax rate of return of about 8% to 9%. This investment improves their image to the public as a company that cares about the environment, and it also improves their investment portfolio. This decreases their risk will attract new investors who would like to invest in less-volatile stocks.

Stock Upgrades and Downgrades: (SPWRA), (CRDN), (ANGO)

Sunpower (SPWRA) is currently being analyzed by the brokerage firm Kaufman Bros. They have just decreased their rating from Hold to Sell. This indicates that the company may not be doing as well as investors were expecting. Look for potential selling pressure or a downside move in the share price. The target price is currently set at $14 per share by the brokerage firm. Shares of SPWRA fell by 1.46% or $-0.31/share to $20.96. In the past year, the shares have traded as low as $9.61 and as high as $22.60. On average, 3042170 shares of SPWRA exchange hands on a given day and today's volume is recorded at 4719620.

Wedbush, the brokerage firm, has recently decreased the rating on Ceradyne (CRDN). They lowered the rating from Outperform to Neutral. The brokerage firm believes the company is on the downswing and there could be potential savings or capital preservation in selling the stock now. The target price is currently set at $42 per share by the brokerage firm. Shares of CRDN fell by 0.85% or $-0.33/share to $38.59. In the past year, the shares have traded as low as $19.82 and as high as $53.56. On average, 271731 shares of CRDN exchange hands on a given day and today's volume is recorded at 239324.

Wedbush, the brokerage firm, has recently decreased the rating on AngioDynamics (ANGO). They lowered the rating from Neutral to Underperform. The brokerage firm believes the company is on the downswing and there could be potential savings or capital preservation in selling the stock now. The target price is currently set at $12 per share by the brokerage firm. Shares of ANGO fell by 5.7% or $-0.83/share to $13.74. In the past year, the shares have traded as low as $13.61 and as high as $17.73. On average, 71520 shares of ANGO exchange hands on a given day and today's volume is recorded at 755159.

Analyst Upgrades and Downgrades: (OMCL), (SKT), (JNPR), (FGP), (CRR)

Omnicell (OMCL) recently had their rating changed from Hold to Buy. Stifel Nicolaus is the brokerage firm which is currently analyzing this company and found it necessary to change their rating. This is usually a bullish sign for the company's share price, as these brokerages begin to tell their clients to start buying the upgraded stock. The shares may see a continued uptrend because of this. Analysts believe that the company's share price may begin to improve. The target price is currently set at $17 per share by the brokerage firm. Shares of OMCL traded higher by 7.08% or $0.94/share to $14.22. In the past year, the shares have traded as low as $10.93 and as high as $15.97. On average, 132141 shares of OMCL exchange hands on a given day and today's volume is recorded at 189937.

Tanger Factory (SKT) is currently being analyzed by the brokerage firm UBS. They have just increased their rating from Neutral to Buy. This indicates that the company may doing doing better than investors expect. Look for potential buying pressure or an upside move in the share price. The target price is currently set at $28 per share by the brokerage firm. Shares of SKT traded higher by 2.58% or $0.66/share to $26.23. In the past year, the shares have traded as low as $20.22 and as high as $28.05. On average, 571980 shares of SKT exchange hands on a given day and today's volume is recorded at 338227.

RBC Capital Mkts, the brokerage firm, has recently decreased the rating on Juniper Networks (JNPR). They lowered the rating from Outperform to Sector Perform. The brokerage firm believes the company is on the downswing and there could be potential savings or capital preservation in selling the stock now. The target price is currently set at $37 per share by the brokerage firm. Shares of JNPR traded higher by 1.24% or $0.37/share to $30.28. In the past year, the shares have traded as low as $22.25 and as high as $45.01. On average, 7959420 shares of JNPR exchange hands on a given day and today's volume is recorded at 11444071.

Ferrellgas Partners (FGP) is currently being analyzed by the brokerage firm UBS. They have just increased their rating from Sell to Neutral. This indicates that the company may doing doing better than investors expect. Look for potential buying pressure or an upside move in the share price. The target price is currently set at $22 per share by the brokerage firm. Shares of FGP traded higher by 1.7% or $0.38/share to $22.76. In the past year, the shares have traded as low as $21.76 and as high as $29.00. On average, 299759 shares of FGP exchange hands on a given day and today's volume is recorded at 228197.

Carbo Ceramics (CRR) recently had their rating increased from Market Perform to Market Outperform. Howard Weil is the brokerage firm which is currently analyzing this company and found it necessary to change their rating. This is usually a bullish sign for the company's share price, as these brokerages begin to tell their clients to start buying the upgraded stock. The shares may see a continued uptrend because of this. Analysts believe that the company's share price may begin to improve. Shares of CRR traded higher by 4.09% or $5.71/share to $145.47. In the past year, the shares have traded as low as $70.00 and as high as $169.34. On average, 464223 shares of CRR exchange hands on a given day and today's volume is recorded at 228565.

Daily Upgrades and Downgrades: (KDN), (EXH), (MAS), (GRB), (FE)

Kaydon (KDN) is currently being analyzed by the brokerage firm KeyBanc Capital Mkts. They have just changed their rating from Hold to Buy. This indicates that the company may doing doing better than investors expect. Look for potential buying pressure or an upside move in the share price. The target price is currently set at $40 per share by the brokerage firm. Shares of KDN traded higher by 4.54% or $1.54/share to $35.45. In the past year, the shares have traded as low as $31.25 and as high as $41.71. On average, 211267 shares of KDN exchange hands on a given day and today's volume is recorded at 213751.

Exterran Holdings (EXH) is currently being analyzed by the brokerage firm Howard Weil. They have just changed their rating from Market Perform to Market Outperform. This indicates that the company may doing doing better than investors expect. Look for potential buying pressure or an upside move in the share price. Shares of EXH traded higher by 4.23% or $0.83/share to $20.45. In the past year, the shares have traded as low as $19.40 and as high as $29.96. On average, 757191 shares of EXH exchange hands on a given day and today's volume is recorded at 443850.

Masco (MAS) is currently being analyzed by the brokerage firm Ticonderoga. They have just increased their rating from Sell to Neutral. This indicates that the company may doing doing better than investors expect. Look for potential buying pressure or an upside move in the share price. Shares of MAS traded higher by 3.63% or $0.43/share to $12.26. In the past year, the shares have traded as low as $9.94 and as high as $15.03. On average, 5413970 shares of MAS exchange hands on a given day and today's volume is recorded at 5724141.

Needham, the brokerage firm, has recently decreased the rating on Gerber Scientific (GRB). They lowered the rating from Buy to Hold. The brokerage firm believes the company is on the downswing and there could be potential savings or capital preservation in selling the stock now. Shares of GRB fell by 0.18% or $-0.02/share to $10.97. In the past year, the shares have traded as low as $4.64 and as high as $11.07. On average, 413256 shares of GRB exchange hands on a given day and today's volume is recorded at 1075711.

FirstEnergy (FE) is currently being analyzed by the brokerage firm FBR Capital. They have just changed their rating from Mkt Perform to Outperform. This indicates that the company may doing doing better than investors expect. Look for potential buying pressure or an upside move in the share price. The target price is currently set at $48 per share by the brokerage firm. Shares of FE traded higher by 2.54% or $1.09/share to $44.04. In the past year, the shares have traded as low as $34.51 and as high as $45.80. On average, 3499100 shares of FE exchange hands on a given day and today's volume is recorded at 2053782.

Best Buy Earnings and Analysis (NYSE: BBY )

Best Buy announced today that their first quarter earnings and revenue were above Wall Street expectations which increased the share price by more than 7%. There was a fall expected in sales because of an increase in competition from online retailers and discounters. Net income fell $136 million or 35 cents a share compared to $155 million or 36 cents a share. Revenue actually increased 1% to $10.9 billion which was helped by a 12% jump in online revenue. Looking at previous quarters, Best Buy has had a hard time keeping their sales growth at a decent number and consistent. The increase in competition and their product cycles has made it hard for them to have a stable sale growth. An investor at Oppenheimer said some better options in the retail industry could be Tiffany’s and Life Time Fitness. They currently rate Best Buy to have modest upside at their current levels. Investors need to pay attention to their sales growth before investing.

Apple and HP Early Gainers (NASDAQ: APPL) (NYSE: HPQ )

Tech stocks rose this morning with Apple and Hewlett-Packard as the leaders of the tech stocks. Apple stock increased almost $4 to $330.48 as Apple reached a patent-infringement settlement with Nokia. Apple will pay Nokia a one-time lump sum payment as well as royalties for specific sales. HP increased 59 cents a share to $35.25 following an executive change at HP. The Nasdaq increased 26 points to 2,666.

Monday, June 13, 2011

Facebook Valuation Could Be $100 Billion

Facebook, the social networking giant, is expected to go public in early 2012. People familiar with the expected IPO have said they expect the valuation to be at around $100 billion. The IPO is expected next year since they have more than 500 private investors, thus making them obligated to release financial information. Facebook is also seeing pressure from their employees because they are unable to sell their private shares on the secondary market. SharesPost, which is a private exchange that buys shares from private companies, recently sold 100,000 shares of facebook for $3.4 million, which gives facebook a value of $85 million. This came weeks after Goldman Sachs invested $1.5 billion. This means the company’s value has increased by 30% in six weeks.

Brokerage House Upgrades and Downgrades: (DIOD), (ERT), (TTMI), (VRA), (FCS)

Diodes (DIOD) recently had their rating decreased from Outperform to Neutral. Robert W. Baird is the brokerage firm which is currently analyzing this company and found it necessary to change their rating. This is usually a bearish sign for the stock, and this brokerage house may tell its clients to sell the stock. The share prices may fall because of this action. Analysts believe that the company's share price may begin to fall. The target price is currently set at $25 per share by the brokerage firm. Shares of DIOD fell by 3.97% or $-0.9374/share to $22.67. In the past year, the shares have traded as low as $14.50 and as high as $34.67. On average, 351919 shares of DIOD exchange hands on a given day and today's volume is recorded at 774661.

eResearchTech (ERT) is currently being analyzed by the brokerage firm The Benchmark Company. They have just changed their rating from Hold to Buy. This indicates that the company may doing doing better than investors expect. Look for potential buying pressure or an upside move in the share price. The target price is currently set at $7 per share by the brokerage firm. Shares of ERT traded higher by 8.18% or $0.4491/share to $5.94. In the past year, the shares have traded as low as $5.36 and as high as $8.95. On average, 127281 shares of ERT exchange hands on a given day and today's volume is recorded at 160443.

TTM Tech (TTMI) recently had their rating changed from Buy to Strong Buy. Needham is the brokerage firm which is currently analyzing this company and found it necessary to change their rating. This is usually a bullish sign for the company's share price, as these brokerages begin to tell their clients to start buying the upgraded stock. The shares may see a continued uptrend because of this. Analysts believe that the company's share price may begin to improve. The target price is currently set at $21 per share by the brokerage firm. Shares of TTMI traded higher by 4.41% or $0.59/share to $13.96. In the past year, the shares have traded as low as $8.04 and as high as $19.64. On average, 823330 shares of TTMI exchange hands on a given day and today's volume is recorded at 1193960.

Vera Bradley (VRA) is currently being analyzed by the brokerage firm Robert W. Baird. They have just increased their rating from Neutral to Outperform. This indicates that the company may doing doing better than investors expect. Look for potential buying pressure or an upside move in the share price. The target price is currently set at $46 per share by the brokerage firm. Shares of VRA traded higher by 7.8% or $2.91/share to $40.24. In the past year, the shares have traded as low as $22.00 and as high as $52.36. On average, 302259 shares of VRA exchange hands on a given day and today's volume is recorded at 270258.

Fairchild Semi (FCS) recently had their rating decreased from Outperform to Neutral. Robert W. Baird is the brokerage firm which is currently analyzing this company and found it necessary to change their rating. This is usually a bearish sign for the stock, and this brokerage house may tell its clients to sell the stock. The share prices may fall because of this action. Analysts believe that the company's share price may begin to fall. The target price is currently set at $17 per share by the brokerage firm. Shares of FCS fell by 7.97% or $-1.33/share to $15.36. In the past year, the shares have traded as low as $7.71 and as high as $21.02. On average, 2291900 shares of FCS exchange hands on a given day and today's volume is recorded at 5159375.

Friday, June 10, 2011

Brokerage House Upgrades and Downgrades: (HOLI), (RGC), (WFR)

HollySys (HOLI) recently had their rating increased from Mkt Perform to Mkt Outperform. Rodman & Renshaw is the brokerage firm which is currently analyzing this company and found it necessary to change their rating. This is usually a bullish sign for the company's share price, as these brokerages begin to tell their clients to start buying the upgraded stock. The shares may see a continued uptrend because of this. Analysts believe that the company's share price may begin to improve. Shares of HOLI fell by 1.43% or $-0.12/share to $8.28. In the past year, the shares have traded as low as $7.59 and as high as $18.15. On average, 630874 shares of HOLI exchange hands on a given day and today's volume is recorded at 723670.

Caris & Company, the brokerage firm, has recently increased the rating on Regal Entertainment (RGC). They upped the rating from Above Average to Buy. The brokerage firm believes the company may be on the upswing and there could be potential value in buying the stock. The target price is currently set at $16 per share by the brokerage firm. Shares of RGC fell by 0.33% or $-0.04/share to $12.00. In the past year, the shares have traded as low as $11.59 and as high as $15.22. On average, 1789640 shares of RGC exchange hands on a given day and today's volume is recorded at 1413774.

MEMC Elec (WFR) is currently being analyzed by the brokerage firm Stifel Nicolaus. They have just changed their rating from Buy to Hold. This indicates that the company may not be doing as well as investors were expecting. Look for potential selling pressure or a downside move in the share price. Shares of WFR fell by 4.07% or $-0.37/share to $8.71. In the past year, the shares have traded as low as $8.96 and as high as $15.04. On average, 6009400 shares of WFR exchange hands on a given day and today's volume is recorded at 9066895.

Oversold Stocks: (MY), (OMX), (MFW), (NOK), (BFS)

On June 10, these stocks were spotted as oversold: China Ming Yang Wind Power Group Limited, OfficeMax Incorporated, M&F Worldwide Corp, Nokia Corporation, and Saul Centers Inc. The price of these stocks have fallen sharply to level below their true value. This is interpreted as a sign that the stocks are undervalued and may represent a buying opportunity for investors.

Shares of China Ming Yang Wind Power Group Limited (MY) fell by 4.10% or $-0.24/share to $5.62. In the past year, the shares have traded as low as $5.82 and as high as $14.70. On average, 355200 shares of MY exchange hands on a given day and today's volume is recorded at 252218.

Shares of OfficeMax Incorporated (OMX) fell by 2.80% or $-0.18/share to $6.22. In the past year, the shares have traded as low as $6.23 and as high as $19.20. On average, 2655280 shares of OMX exchange hands on a given day and today's volume is recorded at 1435366.

Shares of M&F Worldwide Corp (MFW) fell by 4.92% or $-0.88/share to $17.02. In the past year, the shares have traded as low as $17.86 and as high as $30.77. On average, 57590 shares of MFW exchange hands on a given day and today's volume is recorded at 48657.

Shares of Nokia Corporation (NOK) fell by 0.79% or $-0.05/share to $6.24. In the past year, the shares have traded as low as $6.21 and as high as $11.06. On average, 30531530 shares of NOK exchange hands on a given day and today's volume is recorded at 24800980.

Shares of Saul Centers Inc (BFS) fell by 1.27% or $-0.48/share to $37.31. In the past year, the shares have traded as low as $37.73 and as high as $48.29. On average, 46170 shares of BFS exchange hands on a given day and today's volume is recorded at 21469.

Hitting Rock Bottom: (MX), (WMS), (ISS), (SCBT), (SOL)

Stocks falling to new 52 week lows on June 10 are MagnaChip Semiconductor, WMS Industries Inc, Isoftstone Holdings Limited, SCBT Financial Corp, and ReneSola Ltd. Investors are selling the stock and pushing it lower because they may think that these stocks were overvalued. This could be caused by earnings not meeting expectations, investor speculation, or a fall in market growth.

Shares of MagnaChip Semiconductor (MX) fell by 3.35% or $-0.42/share to $12.13. In the past year, the shares have traded as low as $12.38 and as high as $15.56. On average, 197700 shares of MX exchange hands on a given day and today's volume is recorded at 54417. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $14.11 area but be careful because the stock may face selling pressure at this level.

Shares of WMS Industries Inc. (WMS) fell by 2.09% or $-0.60/share to $28.17. In the past year, the shares have traded as low as $28.70 and as high as $49.11. On average, 1047630 shares of WMS exchange hands on a given day and today's volume is recorded at 149312. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $32.72 area but be careful because the stock may face selling pressure at this level.

Shares of Isoftstone Holdings Limited (ISS) fell by 4.8% or $-0.61/share to $12.11. In the past year, the shares have traded as low as $12.12 and as high as $22.63. On average, 211850 shares of ISS exchange hands on a given day and today's volume is recorded at 286867. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $17.94 area but be careful because the stock may face selling pressure at this level.

Shares of SCBT Financial Corp. (SCBT) fell by 1.51% or $-0.42/share to $27.4. In the past year, the shares have traded as low as $27.77 and as high as $35.98. On average, 27790 shares of SCBT exchange hands on a given day and today's volume is recorded at 11891. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $31.02 area but be careful because the stock may face selling pressure at this level.

Shares of ReneSola Ltd. (SOL) fell by 6.92% or $-0.39/share to $5.24. In the past year, the shares have traded as low as $5.38 and as high as $15.34. On average, 3356240 shares of SOL exchange hands on a given day and today's volume is recorded at 2846850. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $8.34 area but be careful because the stock may face selling pressure at this level.

Roller Coaster Stocks: (JKS), (TRE), (HOGS), (SPRD), (NCT)

Among the most volatile stocks traded on June 10 were: JinkoSolar Holding Co., Ltd, Tanzanian Royalty Exploration Corp, Zhongpin, Inc, Spreadtrum Communications Inc, and Newcastle Investment Corp. These stocks are risky as they have high volatility. Since these stocks carry a lot of risk, they will usually provide large returns. This high volatility could be caused by their business strategy or the type of sector they are in.

Shares of JinkoSolar Holding Co., Ltd. (JKS) fell by 4.44% or $-0.96/share to $20.73. In the past year, the shares have traded as low as $8.65 and as high as $41.76. On average, 826020 shares of JKS exchange hands on a given day and today's volume is recorded at 484793. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $25.22 area but be careful because the stock may face selling pressure at this level.

Shares of Tanzanian Royalty Exploration Corp. (TRE) fell by 4.43% or $-0.30/share to $6.57. In the past year, the shares have traded as low as $4.48 and as high as $7.81. On average, 459550 shares of TRE exchange hands on a given day and today's volume is recorded at 1069888. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $6.71 area but be careful because the stock may face selling pressure at this level.

Shares of Zhongpin, Inc. (HOGS) fell by 7.18% or $-0.89/share to $11.5. In the past year, the shares have traded as low as $10.95 and as high as $25.00. On average, 616580 shares of HOGS exchange hands on a given day and today's volume is recorded at 651504. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $15.45 area but be careful because the stock may face selling pressure at this level.

Shares of Spreadtrum Communications Inc. (SPRD) fell by 4.47% or $-0.70/share to $14.95. In the past year, the shares have traded as low as $7.60 and as high as $24.20. On average, 1391430 shares of SPRD exchange hands on a given day and today's volume is recorded at 782937. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $19.72 area but be careful because the stock may face selling pressure at this level.

Shares of Newcastle Investment Corp. (NCT) fell by 7.62% or $-0.35/share to $4.3. In the past year, the shares have traded as low as $2.24 and as high as $8.84. On average, 1378010 shares of NCT exchange hands on a given day and today's volume is recorded at 241381. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $5.59 area but be careful because the stock may face selling pressure at this level.

Active Stocks: (SLV), (INTC), (NOK), (GE), (MU)

The following stocks were detected to be trading among the most active on June 10: iShares Silver Trust, Intel Corporation, Nokia Corporation, General Electric Co, and Micron Technology Inc. These stocks are highly traded usually because new relevant information on the company has become available. Being on the highly active list isn't always positive as high activity may be a result of negative news. Regardless, high activity means high liquidity. High volume, combined with price movement is what traders require to make profits.

Shares of iShares Silver Trust (SLV) fell by 2.89% or $-1.06/share to $35.61. In the past year, the shares have traded as low as $17.06 and as high as $48.35. On average, 71980590 shares of SLV exchange hands on a given day and today's volume is recorded at 14631155. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $29.77 area.

Shares of Intel Corporation (INTC) fell by 1.93% or $-0.42/share to $21.34. In the past year, the shares have traded as low as $17.18 and as high as $23.96. On average, 67502500 shares of INTC exchange hands on a given day and today's volume is recorded at 14136961. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $20.57 area.

Shares of Nokia Corporation (NOK) fell by 1.19% or $-0.07/share to $6.22. In the past year, the shares have traded as low as $6.22 and as high as $11.07. On average, 30531530 shares of NOK exchange hands on a given day and today's volume is recorded at 13450261. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $8.08 area but be careful because the stock may face selling pressure at this level.

Shares of General Electric Co. (GE) fell by 1.28% or $-0.24/share to $18.34. In the past year, the shares have traded as low as $13.45 and as high as $21.50. On average, 53094990 shares of GE exchange hands on a given day and today's volume is recorded at 12154150. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $18.23 area.

Shares of Micron Technology Inc. (MU) traded higher by 0.35% or $0.03/share to $8.52. In the past year, the shares have traded as low as $6.36 and as high as $11.95. On average, 37133870 shares of MU exchange hands on a given day and today's volume is recorded at 11669647. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $10.49 area but be careful because the stock may face selling pressure at this level.

Roller Coaster Stocks: (SYUT), (AMRN), (HOLI), (WPRT), (SWSH)

Among the most volatile stocks traded on June 10 were: Synutra International Inc, Amarin Corporation plc, Hollysys Automation Technologies, Ltd, Westport Innovations Inc, and Swisher Hygiene Inc. These stocks are risky as they have high volatility. Since these stocks carry a lot of risk, they will usually provide large returns. This high volatility could be caused by their business strategy or the type of sector they are in.

Shares of Synutra International Inc. (SYUT) fell by 11.79% or $-1.24/share to $9.28. In the past year, the shares have traded as low as $8.71 and as high as $24.79. On average, 85940 shares of SYUT exchange hands on a given day and today's volume is recorded at 47794. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $10.76 area but be careful because the stock may face selling pressure at this level.

Shares of Amarin Corporation plc (AMRN) fell by 11.59% or $-1.89/share to $14.42. In the past year, the shares have traded as low as $2.02 and as high as $19.87. On average, 3910800 shares of AMRN exchange hands on a given day and today's volume is recorded at 5213504. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $7.93 area.

Shares of Hollysys Automation Technologies, Ltd (HOLI) traded higher by 0.95% or $0.08/share to $8.48. In the past year, the shares have traded as low as $7.59 and as high as $18.15. On average, 639360 shares of HOLI exchange hands on a given day and today's volume is recorded at 414428. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $11.15 area but be careful because the stock may face selling pressure at this level.

Shares of Westport Innovations Inc. (WPRT) traded higher by 7.05% or $1.45/share to $22.02. In the past year, the shares have traded as low as $14.25 and as high as $27.90. On average, 1012130 shares of WPRT exchange hands on a given day and today's volume is recorded at 739924. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $19.33 area.

Shares of Swisher Hygiene Inc. (SWSH) fell by 3.28% or $-0.17/share to $5.16. In the past year, the shares have traded as low as $3.99 and as high as $11.42. On average, 1487210 shares of SWSH exchange hands on a given day and today's volume is recorded at 675126. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $7.13 area but be careful because the stock may face selling pressure at this level.

Downward Wedge Patterns Shown in Stocks: (CYN), (FLEX), (WG), (ITB), (LAZ)

Downward wedge patterns have been noticed on June 10 for the stocks City National Corp, Flextronics International Ltd, Willbros Group Inc, iShares Dow Jones US Home Construction, and Lazard Ltd. The price range of these stocks is getting more narrow as the downward trend continues, thus signally the trend is losing steam. This sends a bullish signal to investors as the downward trend is ending.

Shares of City National Corp (CYN) fell by 1.18% or $-0.63/share to $52.7. In the past year, the shares have traded as low as $46.77 and as high as $63.27. On average, 334600 shares of CYN exchange hands on a given day and today's volume is recorded at 40448.

Shares of Flextronics International Ltd (FLEX) fell by 1.15% or $-0.08/share to $6.87. In the past year, the shares have traded as low as $4.86 and as high as $8.50. On average, 6978260 shares of FLEX exchange hands on a given day and today's volume is recorded at 1551506.

Shares of Willbros Group Inc (WG) fell by 1.91% or $-0.16/share to $8.23. In the past year, the shares have traded as low as $6.80 and as high as $12.55. On average, 406170 shares of WG exchange hands on a given day and today's volume is recorded at 19502.

Shares of iShares Dow Jones US Home Construction (ITB) fell by 1.55% or $-0.19/share to $12.07. In the past year, the shares have traded as low as $10.45 and as high as $14.27. On average, 565440 shares of ITB exchange hands on a given day and today's volume is recorded at 330667.

Shares of Lazard Ltd (LAZ) fell by 2.23% or $-0.81/share to $35.46. In the past year, the shares have traded as low as $25.34 and as high as $46.36. On average, 781730 shares of LAZ exchange hands on a given day and today's volume is recorded at 110156.

Stocks with Downward Wedge Patterns: (ORBK), (KEY), (KBE), (NATI), (SKS)

Downward wedge patterns have been noticed on June 10 for the stocks Orbotech Ltd, KeyCorp, SPDR KBW Bank, National Instruments Corporation, and Saks Incorporated. The price range of these stocks is getting more narrow as the downward trend continues, thus signally the trend is losing steam. This sends a bullish signal to investors as the downward trend is ending.

Shares of Orbotech Ltd (ORBK) traded higher by 0.71% or $0.09/share to $12.76. In the past year, the shares have traded as low as $9.15 and as high as $15.62. On average, 179950 shares of ORBK exchange hands on a given day and today's volume is recorded at 38886.

Shares of KeyCorp (KEY) fell by 2.21% or $-0.18/share to $7.95. In the past year, the shares have traded as low as $7.08 and as high as $9.72. On average, 14500280 shares of KEY exchange hands on a given day and today's volume is recorded at 3929678.

Shares of SPDR KBW Bank (KBE) fell by 1.50% or $-0.35/share to $23.03. In the past year, the shares have traded as low as $21.09 and as high as $27.72. On average, 4263340 shares of KBE exchange hands on a given day and today's volume is recorded at 789981.

Shares of National Instruments Corporation (NATI) fell by 0.54% or $-0.15/share to $27.74. In the past year, the shares have traded as low as $18.39 and as high as $33.09. On average, 445720 shares of NATI exchange hands on a given day and today's volume is recorded at 98213.

Shares of Saks Incorporated (SKS) fell by 2.57% or $-0.27/share to $10.25. In the past year, the shares have traded as low as $6.60 and as high as $12.97. On average, 3145950 shares of SKS exchange hands on a given day and today's volume is recorded at 363632.

Significant gap up: (NUVA), (AIB), (RUSS), (SQI), (KNM)

The following stocks gapped up significantly at the open on June 10: NuVasive, Inc, Allied Irish Banks plc, Direxion Daily Russia Bear 3x S, SciQuest, Inc, and Konami Corp. These stocks may be up because of positive overnight news, overall market bullishness, or increased speculation. Oftentimes stocks will close the gap, meaning they will retrace to the last day's high. Thus, gap ups are often good selling opportunities but in some cases, watch for the stock to continue higher.

Shares of NuVasive, Inc (NUVA) opened higher by 3.41% and are currently trading at $34.2. In the past year, the shares have traded as low as $22.11 and as high as $41.42. On average, 669320 shares of NUVA exchange hands on a given day and today's volume is recorded at 74533. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $28.64 area.

Shares of Allied Irish Banks plc (AIB) opened higher by 3.31% and are currently trading at $2.47. In the past year, the shares have traded as low as $2.00 and as high as $15.25. On average, 1457250 shares of AIB exchange hands on a given day and today's volume is recorded at 4303. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $3.11 area but be careful because the stock may face selling pressure at this level.

Shares of Direxion Daily Russia Bear 3x S (RUSS) opened higher by 3.2% and are currently trading at $30.96. In the past year, the shares have traded as low as $30.00 and as high as $38.54. On average, 350 shares of RUSS exchange hands on a given day and today's volume is recorded at 100. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $33.91 area but be careful because the stock may face selling pressure at this level.

Shares of SciQuest, Inc (SQI) opened higher by 3.11% and are currently trading at $16.72. In the past year, the shares have traded as low as $10.50 and as high as $18.45. On average, 90350 shares of SQI exchange hands on a given day and today's volume is recorded at 5152. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $13.63 area.

Shares of Konami Corp (KNM) opened higher by 3.05% and are currently trading at $22.7. In the past year, the shares have traded as low as $15.14 and as high as $22.47. On average, 11420 shares of KNM exchange hands on a given day and today's volume is recorded at 3360. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $19.23 area.

Noteworthy gap down: (WF), (GEVO), (VRUS), (EXK), (CBRL)

The following stocks gapped down significantly at the open on June 10: Woori Finance Holdings Co. Ltd, Gevo, Inc, Pharmasset, Inc, Endeavour Silver Corp, and Cracker Barrel Old Country Store, Inc. These stocks may be down because of negative overnight news, overall market bearishness, or shorters pounding the stock down in hopes to cover. Oftentimes stocks will close the gap, meaning they will retrace to the last day's low. Thus, gap downs are often good buying opportunities.

Shares of Woori Finance Holdings Co. Ltd (WF) opened lower by -3.37% and are currently trading at $36.71. In the past year, the shares have traded as low as $33.00 and as high as $42.96. On average, 9740 shares of WF exchange hands on a given day and today's volume is recorded at 429. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $38.76 area but be careful because the stock may face selling pressure at this level.

Shares of Gevo, Inc (GEVO) opened lower by -3.34% and are currently trading at $16.75. In the past year, the shares have traded as low as $15.52 and as high as $26.36. On average, 81050 shares of GEVO exchange hands on a given day and today's volume is recorded at 10801. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $20.12 area but be careful because the stock may face selling pressure at this level.

Shares of Pharmasset, Inc (VRUS) opened lower by -3.19% and are currently trading at $118.52. In the past year, the shares have traded as low as $23.56 and as high as $135.92. On average, 566310 shares of VRUS exchange hands on a given day and today's volume is recorded at 44449. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $57.35 area.

Shares of Endeavour Silver Corp (EXK) opened lower by -3.08% and are currently trading at $8.16. In the past year, the shares have traded as low as $3.07 and as high as $12.75. On average, 3871420 shares of EXK exchange hands on a given day and today's volume is recorded at 261658. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $7.15 area.

Shares of Cracker Barrel Old Country Store, Inc (CBRL) opened lower by -2.93% and are currently trading at $43.76. In the past year, the shares have traded as low as $43.09 and as high as $57.29. On average, 359010 shares of CBRL exchange hands on a given day and today's volume is recorded at 41024. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $49.35 area but be careful because the stock may face selling pressure at this level.

Notable stocks gapping higher: (HOLI), (LYV), (NXTM), (RDN), (OYOG)

The following stocks gapped up significantly at the open on June 10: Hollysys Automation Technologies, Ltd, Live Nation Entertainment, Inc, Nxstage Medical, Inc, Radian Group Inc, and OYO Geospace Corp. These stocks may be up because of positive overnight news, overall market bullishness, or increased speculation. Oftentimes stocks will close the gap, meaning they will retrace to the last day's high. Thus, gap ups are often good selling opportunities but in some cases, watch for the stock to continue higher.

Shares of Hollysys Automation Technologies, Ltd (HOLI) opened higher by 4.76% and are currently trading at $8.75. In the past year, the shares have traded as low as $7.59 and as high as $18.15. On average, 639360 shares of HOLI exchange hands on a given day and today's volume is recorded at 189611. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $11.15 area but be careful because the stock may face selling pressure at this level.

Shares of Live Nation Entertainment, Inc (LYV) opened higher by 4.56% and are currently trading at $10.8. In the past year, the shares have traded as low as $8.17 and as high as $12.48. On average, 1561820 shares of LYV exchange hands on a given day and today's volume is recorded at 350359. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $10.45 area.

Shares of Nxstage Medical, Inc (NXTM) opened higher by 3.7% and are currently trading at $19.01. In the past year, the shares have traded as low as $12.90 and as high as $27.12. On average, 476220 shares of NXTM exchange hands on a given day and today's volume is recorded at 201899. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $20.91 area but be careful because the stock may face selling pressure at this level.

Shares of Radian Group Inc (RDN) opened higher by 3.63% and are currently trading at $3.77. In the past year, the shares have traded as low as $3.45 and as high as $10.25. On average, 3920000 shares of RDN exchange hands on a given day and today's volume is recorded at 527249. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $5.51 area but be careful because the stock may face selling pressure at this level.

Shares of OYO Geospace Corp (OYOG) opened higher by 3.44% and are currently trading at $94.83. In the past year, the shares have traded as low as $45.17 and as high as $109.99. On average, 48660 shares of OYOG exchange hands on a given day and today's volume is recorded at 6665. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $82.32 area.

Noteworthy gap down: (PHII), (GBG), (XXIA), (NBG), (SAN)

The following stocks gapped down significantly at the open on June 10: PHI Inc, Great Basin Gold Ltd, Ixia, National Bank of Greece SA, and Banco Santander-Chile. These stocks may be down because of negative overnight news, overall market bearishness, or shorters pounding the stock down in hopes to cover. Oftentimes stocks will close the gap, meaning they will retrace to the last day's low. Thus, gap downs are often good buying opportunities.

Shares of PHI Inc (PHII) opened lower by -5.53% and are currently trading at $19.46. In the past year, the shares have traded as low as $13.15 and as high as $23.55. On average, 1110 shares of PHII exchange hands on a given day and today's volume is recorded at 0. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $21.40 area but be careful because the stock may face selling pressure at this level.

Shares of Great Basin Gold Ltd (GBG) opened lower by -5.13% and are currently trading at $1.88. In the past year, the shares have traded as low as $1.58 and as high as $3.32. On average, 1997510 shares of GBG exchange hands on a given day and today's volume is recorded at 306743. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $2.32 area but be careful because the stock may face selling pressure at this level.

Shares of Ixia (XXIA) opened lower by -3.61% and are currently trading at $13.7. In the past year, the shares have traded as low as $8.15 and as high as $19.10. On average, 457680 shares of XXIA exchange hands on a given day and today's volume is recorded at 5496. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $15.45 area but be careful because the stock may face selling pressure at this level.

Shares of National Bank of Greece SA (NBG) opened lower by -3.6% and are currently trading at $1.34. In the past year, the shares have traded as low as $1.27 and as high as $3.23. On average, 4361380 shares of NBG exchange hands on a given day and today's volume is recorded at 273002. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $1.52 area but be careful because the stock may face selling pressure at this level.

Shares of Banco Santander-Chile (SAN) opened lower by -3.44% and are currently trading at $90.41. In the past year, the shares have traded as low as $61.20 and as high as $96.36. On average, 165180 shares of SAN exchange hands on a given day and today's volume is recorded at 1761. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $87.02 area.

Significant gap up: (VRGY), (MITI), (HRBN), (LULU), (ZIP)

The following stocks gapped up significantly at the open on June 10: Verigy, Ltd, Micromet, Inc, Harbin Electric, Inc, Lululemon Athletica Inc, and Zipcar, Inc. These stocks may be up because of positive overnight news, overall market bullishness, or increased speculation. Oftentimes stocks will close the gap, meaning they will retrace to the last day's high. Thus, gap ups are often good selling opportunities but in some cases, watch for the stock to continue higher.

Shares of Verigy, Ltd (VRGY) opened higher by 10.75% and are currently trading at $14.94. In the past year, the shares have traded as low as $7.48 and as high as $15.08. On average, 1556530 shares of VRGY exchange hands on a given day and today's volume is recorded at 23253660. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $11.84 area.

Shares of Micromet, Inc (MITI) opened higher by 10.59% and are currently trading at $5.77. In the past year, the shares have traded as low as $4.75 and as high as $8.63. On average, 779490 shares of MITI exchange hands on a given day and today's volume is recorded at 554692. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $6.07 area but be careful because the stock may face selling pressure at this level.

Shares of Harbin Electric, Inc (HRBN) opened higher by 9.69% and are currently trading at $16.23. In the past year, the shares have traded as low as $13.34 and as high as $25.05. On average, 866000 shares of HRBN exchange hands on a given day and today's volume is recorded at 1021310. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $18.10 area but be careful because the stock may face selling pressure at this level.

Shares of Lululemon Athletica Inc (LULU) opened higher by 7.09% and are currently trading at $91.58. In the past year, the shares have traded as low as $31.08 and as high as $102.83. On average, 2146320 shares of LULU exchange hands on a given day and today's volume is recorded at 1408943. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $68.26 area.

Shares of Zipcar, Inc (ZIP) opened higher by 6.67% and are currently trading at $20.33. In the past year, the shares have traded as low as $18.92 and as high as $31.51. On average, 746040 shares of ZIP exchange hands on a given day and today's volume is recorded at 81249. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $25.49 area but be careful because the stock may face selling pressure at this level.