THE DAILY BRIEF

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Thursday 11.12.2009

CURRENT MARKET SENTIMENT

The Veterans Day trading led the indices to gains, the initial claims number and the end of
finish higher at 10291 (Dow) and 1099 (S&P). the week will dictate market direction. Profit
Both indices reached new milestones with the taking is likely to be the result thus testing
Dow closing at a new high and the S&P closing 10197 and 1088. The pivot is both the
at the Monthly high. With eight consecutive direction and the resistance for the day

PRISM CALL

Thursday it is and economic numbers are finally here. The futures are pointing down indicating a
down opening, exactly what the doctor recommends. Given that there is plenty of room on the
downside, selling pressure is needed for any significant move. Volatility is likely to be the way since
the market has been choppy. Sell the spikes.

ECONOMIC CALENDAR INDU & SPUZ TECHNICALS

TIME INDICATOR RANGE EXPECTATION PRIOR ACTUAL INDICES S2 S1 PIVOT R1 R2

8:30 Initial Jobless 495K to 510K 512K 502K
am Claims 525K INDU
10197 10234 10293 10352 10389
8:30 Continuing 5675K to 5749K 5631K
(DOW)
5700K
am Claims 5788K SPUZ
11:00 US Crude Oil -2200K to 1000K -3936K (S&P) 1088 1092 1099 1106 1111
am Inventories 2300K
11:00 US Gasoline -1600K to -350K -287K
am Inventories 2000K
11:00 US Distillate -2000K to -700K -378K
am Inventory 2000K
11:00 US Refinery -1.00% to 0.15% -1.17%
am Utilization 1.00%
2:00 Monthly Budget -$199.4B -$162.5B -
pm Statement to - $155.5B
$125.0B

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 FOREIGN MARKETS NEWS

HPQ says COMS deal will be slightly

MARKET PRICE
 % dilutive in year 1

FTSE 5278.28 11.53 0.22 SWM Schweitzer-Mauduit announces

pricing of its common stock offering at
DAX 5681.26 12.91 0.23 $60.00 (60.87 +1.92)
HANG SENG 22397.57 229.64 -1.01
Bank of Korea leaves rates at record
NIKKEI 9804.49 67.19 -0.68 low – WSJ

White House aims to cut deficit with

CHINA 3172.945 2.247 -0.07 TARP cash – WSJ

China's Wen reiterates loose policy

COMMODITY PRICES stance – Reuters
DOW STOCKS TO WATCH
WBD Wimm-Bill-Dann Foods
STRONG WEAK COMMODITY PRICE
 announces 1-4 ADR split, effective
November 16, 2009 (77.50 )
BAC CAT
OIL 78.71 0.57 GE General Electric: United
KO DD Technologies announces it has reached
an agreement to purchase the GE
PG JPM Security business from GE for $1.82 bln
GOLD 1114.4 0.20 (15.83 )
XOM
MBA Mortgage Applications +3.2% vs
+8.2% Prior

UPGRADES & DOWNGRADES PEET Peet's Coffee profiled in New

America section of IBD (39.28 )
STOCKS UPGRADED
GNW Genworth Financial: MCSI
BROKERAGE adds GNW to its world index
COMPANY RATINGS CHANGE PRICE TARGET
FIRM
(11.60 )
NASDAQ (NDAQ) Susquehanna Neutral » Positive
Financial
BKE The Buckle initiated with a
Transmontaigne Wunderlich Hold » Buy $26.50
Sell at Goldman; tgt $27 - Reuters
Partners (TLP) (30.29 )
CSX Corp (CSX) Barclays Capital Underweight » Equal
Weight NWPX Northwest Pipe issues
Ternium S.A. (TX) Citigroup Hold » Buy downside guidance for 3Q09, delays
10-Q filing (31.23 )
Mobile TeleSystems UBS Neutral » Buy 16.50
(MBT) RIMM Research In Motion:
Hearing MF Global upgrades
STOCKS DOWNGRADED
RIMM to neutral from sell (64.72 )
BROKERAGE
COMPANY RATINGS CHANGE PRICE TARGET
FIRM
JNPR Juniper Networks: HPQ
Nu Skin (NUS) Stifel Nicolaus Buy >> Hold 26 acquiring COMS is net neutral to
Overweight » Neutral
CSCO and slightly negative for
Brocade (BRCD) Piper Jaffray 10 » $9 JNPR (25.35 )
Brocade (BRCD) ThinkEquity Buy » Source of
Funds As shipping slows, banks and
Burl Nrth Santa Fe Barclays Capital Equal Weight »
carriers fear loan defaults - NY
(BNI) Underweight
Times

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 EARNINGS

CTRP Ctrip.com beats by $0.07, beats on revs; guides Q4 revs in-line (64.29 -0.91)

WES Western Gas Partners beats by $0.03, beats on revs (18.51 +0.09)

ATK Alliant Tech beats by $0.12, beats on revs; guides FY10 EPS above consensus, revs in-line; CEO
Daniel J. Murphy to retire in March, 2010 (83.23 )

DLLR Dollar Financial announces proposed $250.0 mln private offering of senior unsecured notes
(22.86 )

MDTH Medcath misses by $0.08, reports revs in-line (9.12 )

URBN Urban Outfitters beats by $0.01, beats on revs (32.27 )

ECA EnCana misses by $0.14, beats on revs (58.02 )

MMS MAXIMUS beats by $0.02, misses two est avg on revs; guides FY09 revs above two est avg; guides
FY10 EPS in-line (46.91 )

CAAS China Automotive beats by $0.13, beats on revs; guides FY09 rev growth above consensus
(14.62 )

DNDN Dendreon 3Q09 results; no surprises, now just waiting on the FDA for provenge's coming out
party- Merriman (29..63 )

KSS Kohl's beats by $0.02, beats on revs; guides Q4 EPS below consensus (54.59 )

ACM Aecom Tech beats by $0.02, misses on revs; guides FY10 EPS below consensus (25.47 )

WMT Wal-Mart prelim $0.84 vs $0.81 First Call consensus; revs $98.67 bln vs $99.88 bln First Call
consensus
Wal-Mart reports Q3 comps, ex fuel, of -0.4%

WMT Wal-Mart beats by $0.03, misses on revs; guides Q4 EPS in-line; raises and narrows FY10 EPS
(52.97 )

VIVO Meridian Bioscience beats by $0.01, beats on revs; reaffirms FY10 EPS guidance, revs guidance;
raises annual dividend by 12% (22.85 )

BCE BCE Inc beats by $0.16, misses two est avg on revs; reaffirms FY10 EPS guidance (25.88 )

RRST RRSAT Global misses two est avg by $0.03, misses on revs; guides Q4 revs below consensus
(10.50 )

SPH Suburban Propane misses by $0.10, misses on revs (44.54 )

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 TECHNICAL ANALYSIS

Symbol S7 S6 S5 S4 S3 S2 S1 PIVOT R1 R2 R3 R4 R5 R6
Sectors
SPX 1076.11 1080.53 1083.25 1087.67 1092.09 1093.45 1094.81 1099.23 1103.65 1105.01 1106.37 1110.79 1115.21 1117.93
INDU 10101.46 10138.07 10160.69 10197.29 10233.90 10245.21 10256.47 10293.12 10329.78 10341.04 10352.35 10388.95 10425.56 10448.18
NDX 1740.88 1748.92 1753.89 1761.93 1769.97 1772.46 1774.93 1782.98 1791.03 1793.51 1795.99 1804.03 1812.07 1817.04
XBD 114.17 115.09 115.66 116.58 117.50 117.79 118.07 118.99 119.92 120.20 120.48 121.40 122.32 122.89
BKX 41.97 42.41 42.68 43.13 43.57 43.71 43.84 44.29 44.73 44.87 45.00 45.45 45.89 46.16
TRAN 3813.43 3842.61 3860.64 3889.82 3919.00 3928.02 3936.99 3966.21 3995.43 4004.41 4013.42 4042.60 4071.78 4089.81
OIX 678.44 683.18 686.11 690.84 695.58 697.04 698.50 703.24 707.99 709.44 710.91 715.64 720.38 723.31
OSX 193.35 195.03 196.07 197.74 199.42 199.94 200.45 202.13 203.81 204.33 204.85 206.52 208.20 209.24
XNG 497.75 501.94 504.53 508.72 512.91 514.21 515.49 519.69 523.89 525.18 526.47 530.66 534.85 537.44
CYC 755.95 760.82 763.83 768.69 773.56 775.06 776.56 781.43 786.31 787.80 789.31 794.17 799.04 802.05
UTY 386.28 388.02 389.10 390.85 392.59 393.13 393.67 395.42 397.16 397.70 398.24 399.99 401.73 402.81
DRG 292.32 293.29 293.89 294.86 295.83 296.13 296.43 297.40 298.37 298.67 298.97 299.94 300.91 301.51
RLX 389.12 392.13 393.99 397.01 400.02 400.95 401.88 404.90 407.91 408.84 409.77 412.79 415.80 417.66

Tradeables

SPY 107.80 108.26 108.54 109.00 109.46 109.60 109.74 110.20 110.66 110.80 110.94 111.40 111.86 112.14
DIA 101.17 101.54 101.78 102.15 102.52 102.64 102.76 103.13 103.50 103.62 103.74 104.11 104.48 104.72
QQQQ 42.82 43.03 43.15 43.35 43.56 43.62 43.68 43.88 44.09 44.15 44.21 44.41 44.62 44.74
QLD 52.09 52.58 52.88 53.38 53.87 54.02 54.17 54.67 55.16 55.31 55.46 55.96 56.45 56.75
IWM 57.22 57.62 57.86 58.26 58.66 58.78 58.90 59.30 59.70 59.82 59.94 60.34 60.74 60.98
OIH 120.17 121.17 121.80 122.80 123.80 124.12 124.42 125.43 126.44 126.74 127.06 128.06 129.06 129.69
XLE 56.21 56.62 56.87 57.28 57.69 57.81 57.94 58.35 58.76 58.88 59.01 59.42 59.83 60.08
FAZ 16.85 17.21 17.43 17.79 18.15 18.26 18.37 18.73 19.09 19.20 19.31 19.67 20.03 20.25
FAS 73.32 74.75 75.63 77.06 78.49 78.93 79.37 80.80 82.23 82.67 83.11 84.54 85.97 86.85
SRS 8.27 8.41 8.50 8.65 8.79 8.84 8.88 9.03 9.18 9.22 9.26 9.41 9.55 9.64
SDS 34.90 35.21 35.40 35.71 36.02 36.12 36.21 36.52 36.83 36.93 37.02 37.33 37.64 37.83
USO 38.99 39.29 39.47 39.77 40.07 40.16 40.25 40.55 40.85 40.94 41.03 41.33 41.63 41.81
SKF 22.21 22.50 22.68 22.98 23.27 23.36 23.45 23.75 24.04 24.13 24.22 24.52 24.81 24.99

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