THE DAILY BRIEF

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Wednesday 12.23.2009

CURRENT MARKET SENTIMENT

The party is on as the indices slowly moved up retracement, The Dow must jump the 10500-
to finish at 11465 (Dow) and 1118 (S&P). 15 for the march forward. The open interests
Investors will interpret Personal income and are looking as far as 10800 (Dow) as a
consumer confidence as the barometer for possibility, thus the pivot must hold on the
Christmas sales. Technically, despite a 50% downside for this to happen.

PRISM CALL
Futures are pointing up awaiting the Michigan Consumer Confidence which will be the linchpin for
the day. A buoyant number will propel the market forward while a negative number might have
investors think twice on the move forward. Once again, there are no sellers so even without good
news, market may brush it off. Caution continues to be the best strategy.

INDU & SPUZ TECHNICALS DOW STOCKS TO WATCH

STRONG WEAK
INDICES S2 S1 PIVOT R1 R2
AA KO
INDU
10388 10413 10453 10493 10518
(DOW) AXP PG
SPUZ
(S&P) 1112 1114 1118 1121 1123 BA UTX

HPQ XOM

.00 FOREIGN MARKETS

COMMODITY PRICES
MARKET PRICE
 %

FTSE 5383.19 54.5298 1.02

COMMODITY PRICE

DAX 5975.03 29.34 0.49

HANG SENG 21328.74 236.70 1.12 OIL 74.66 0.26

NIKKEI 10378.03 194.56 1.91

GOLD 1080.0 6.00
CHINA
3073.777 23.257 0.76

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 ECONOMIC CALENDAR NEWS

IRE Ireland’s ‘Dr. Doom’ says

TIME INDICATOR RANGE EXPECTATION PRIOR ACTUAL mortgage losses to drown zombie
banks - Business Week (7.62 )
8:30
Personal Income 0.2% to 0.8% 0.5% 0.2% 0.4%
am AMZN Kaufman notes eCommerce
momentum continues -
8:30
am
Personal Spending 0.4% to 0.9% 0.7% 0.7% 0.5% AMZN/EBAY accelerate in
December (133.75 )
8:30
PCE Deflator (YoY) 0.2% to 1.7% 1.6% 0.2% 1.5%
am Opec indicates $70-$80 oil price
target- FT.com
8:30
PCE Core (MoM) 0.0% to 0.3% 0.1% 0.2% 0.0%
am
DBD Diebold target raised to $29
8:30
PCE Core (YoY) 1.4% to 1.8% 1.5% 1.4% 1.4%
from $27 at Wedbush following
am Brazilian contract win that is
sooner, bigger and more front end
9:55 Univ of Michigan
72.0 to 76.4 73.8 73.4 loaded than expected (28.31 )
am Confidence

10:00a
New Home Sales 400K to 460K 438K 430K
STT State Street: ISPSS deal a
m positive; lowering estimates and
target to $50 for continued sluggish
10:00a New Home Sales
-7.0% to 7.0% 1.7% 6.2% core trends - Credit Suisse (43.86 )
m MoM

10:30a US Crude Oil

-3500K to -3000K -1700K -3689K
DG Dollar General initiated with a
m Inventories Market Perform at Wells Fargo
(22.40 )
10:30a US Gasoline
500K to 2500K 1000K 879K
m Inventories
DG Dollar General initiated with a
10:30a US Distillate
-3620K to -400K -2000K -2954K
Buy at Citigroup; tgt $30 (22.40 )
m Inventory
DE Deere: Credit Suisse discusses
10:30a US Refinery
-0.50% to 1.10% 0.40% -1.10% takeaways from meetings with
m Utilization
mgmt; increasing evidence that
2010 is the bottom for farm
UPGRADES & DOWNGRADES
(56.59 )

STOCKS UPGRADED HUM Oppenhiemer thinks

BROKERAGE Medicare is the most attractive
COMPANY RATINGS CHANGE PRICE TARGET
FIRM subsector in the managed care
SanDisk (SNDK) ThinkEquity Hold » Buy $35 group (45.27 )

Corning (GLW) ThinkEquity Hold » Buy $35 GOL GOL Linhas Areas
$64 » Inteligentes S.A. Completes 2010
Schlumberger (SLB) Barclays Capital Equal Weight » Overweight Aircraft Financing; secures $150
$73
mln credit line
$14.50 »
Pinnacle Finl (PNFP) Keefe Bruyette Mkt Perform » Outperform
$16.50 STX Seagate Tech tgt raised to $25
STOCKS DOWNGRADED at Brean Murray due to increased
conviction - Brean Murray (17.83 )
BROKERAGE
COMPANY RATINGS CHANGE PRICE TARGET
FIRM
Allegiant Travel
Jesup & Lamont Buy » Hold
(ALGT)

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 EARNINGS
RHT Red Hat prelim $0.17 vs $0.16 First Call consensus; revs $194 mln vs $188.29 mln First Call consensus

MU Micron beats by $0.16, beats on revs (9.36 +0.05)

TLVT Telvent mentioned positively in Weekday Trader - Barron's Online (37.87 )

AM American Greetings beats two est avg by $0.09, misses single est on revs (23.84 )

BMY Bristol-Myers lowers FY09 EPS from continuing operations to $1.75-1.80 from $2.00-2.05 vs $2.02
consensus following completion of MJN spin-off

FPL FPL Group: Extended outage at Seabrook Plant and poor wind resource will affect FPL Group's 2009
adjusted earnings (53.82 -0.68)

MTZ MasTec: Kaufman lowers their FY10 EPS est below consensus to reflect full tax rate and dilution from
convertible debt (12.61 )

TECHNICAL ANALYSIS

Symbol S7 S6 S5 S4 S3 S2 S1 PIVOT R1 R2 R3 R4 R5 R6 R7
Sectors
SPX 1106.08 1108.28 1109.64 1111.84 1114.04 1114.72 1115.40 1117.60 1119.80 1120.48 1121.16 1123.36 1125.56 1126.92 1129.12
INDU 10322.65 10347.57 10362.97 10387.88 10412.80 10420.50 10428.16 10453.11 10478.06 10485.73 10493.43 10518.34 10543.26 10558.66 10583.57
NDX 1818.67 1822.31 1824.57 1828.21 1831.85 1832.98 1834.10 1837.75 1841.40 1842.52 1843.65 1847.29 1850.93 1853.19 1856.83
XBD 111.94 112.49 112.83 113.39 113.94 114.11 114.28 114.84 115.39 115.56 115.73 116.29 116.84 117.18 117.74
BKX 42.63 42.76 42.84 42.97 43.10 43.14 43.18 43.31 43.44 43.48 43.52 43.65 43.78 43.86 43.99
TRAN 4088.64 4103.43 4112.57 4127.37 4142.16 4146.73 4151.28 4166.10 4180.91 4185.46 4190.03 4204.83 4219.62 4228.76 4243.56
OIX 672.85 675.64 677.37 680.16 682.95 683.82 684.67 687.47 690.27 691.13 691.99 694.78 697.57 699.30 702.09
OSX 189.36 190.33 190.92 191.89 192.86 193.16 193.45 194.42 195.39 195.69 195.98 196.95 197.92 198.51 199.48
XNG 534.53 536.38 537.52 539.37 541.22 541.79 542.36 544.21 546.06 546.63 547.20 549.05 550.90 552.04 553.89
CYC 820.72 822.81 824.10 826.20 828.29 828.94 829.58 831.68 833.77 834.42 835.06 837.16 839.25 840.54 842.64
UTY 411.45 413.50 414.77 416.82 418.87 419.51 420.14 422.19 424.25 424.88 425.51 427.56 429.61 430.88 432.93
DRG 304.95 306.18 306.93 308.15 309.38 309.75 310.13 311.35 312.58 312.95 313.33 314.55 315.78 316.53 317.75
RLX 406.72 408.46 409.54 411.29 413.03 413.57 414.11 415.86 417.60 418.14 418.68 420.43 422.17 423.25 425.00

Tradeables

SPY 110.62 110.83 110.96 111.16 111.37 111.44 111.50 111.71 111.92 111.98 112.05 112.25 112.46 112.59 112.80
DIA 103.25 103.46 103.60 103.81 104.02 104.09 104.16 104.37 104.58 104.65 104.72 104.93 105.14 105.28 105.49
QQQQ 44.66 44.76 44.82 44.92 45.02 45.05 45.08 45.18 45.28 45.31 45.34 45.44 45.54 45.60 45.70
QLD 56.54 56.82 56.99 57.27 57.55 57.63 57.72 58.00 58.28 58.36 58.45 58.73 59.01 59.18 59.46
IWM 60.92 61.20 61.37 61.65 61.93 62.02 62.10 62.38 62.66 62.75 62.83 63.11 63.39 63.56 63.84
OIH 115.55 116.22 116.63 117.30 117.97 118.18 118.38 119.05 119.72 119.93 120.13 120.80 121.47 121.88 122.55
XLE 55.86 56.09 56.23 56.46 56.69 56.76 56.83 57.06 57.29 57.36 57.43 57.66 57.89 58.03 58.26
FAZ 18.72 18.85 18.93 19.06 19.19 19.23 19.27 19.40 19.53 19.57 19.61 19.74 19.87 19.95 20.08
FAS 72.08 72.55 72.84 73.31 73.78 73.92 74.06 74.54 75.01 75.15 75.30 75.77 76.24 76.53 77.00
SRS 7.19 7.25 7.29 7.35 7.41 7.43 7.45 7.51 7.57 7.59 7.61 7.67 7.73 7.77 7.83
SDS 34.24 34.37 34.45 34.58 34.71 34.75 34.79 34.92 35.05 35.09 35.13 35.26 35.39 35.47 35.60
USO 34.32 34.73 34.99 35.40 35.81 35.93 36.06 36.47 36.88 37.01 37.14 37.55 37.96 38.21 38.62
SKF 23.53 23.66 23.73 23.85 23.98 24.01 24.05 24.17 24.30 24.33 24.37 24.49 24.62 24.69 24.81

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