Tag - Cvi

Small Caps putting up the biggest gains at press time (2:30 P.M. Eastern) include La-Z-Boy (NYSE:LZB) up 36.2% after an upgrade to strong buy from Raymond James, Atlas Pipeline Holdings (NYSE:AHD) up 30.2% after announcing a joint venture with Williams (NYSE:WMB) to expand Atlas's presence in Pennsylvania, Tivo (Nasdaq:TIVO) up 51.1%, Human Genome Sciences (Nasdaq:HGSI) up 16.7%, and Applied Signal Technology (Nasdaq:APSG) up 16%.

Big decliners include energy darling Valero (NYSE:VLO) down 18.3%, CVR Energy (NYSE:CVI) down 17.4%, Frontier Oil (NYSE:FTO) down 14.9% as crude oil inventories spike to 2.9 million barrels based on data from the U.S. Energy Information Administration.

Yesterday's darling stock, Green Plains Renewable Energy (Nasdaq:GPRE) was one of today's dogs lose 16.2% as volume slows from Monday and Tuesday's trading sessions.

As of press time (2:30 P.M. Eastern) all major indices are off with the S&P 500 leading the decline by a 2.0% drop, followed by the Dow sloughing off 1.5% and the Nasdaq down 1.4%. The Russell 2000 Index, comprised of the 2,000 largest small cap stocks was down 8.5 points, or 1.61% to 518.13.

*****Russia is grumbling. Seems they are not happy that rising debt, slow growth and record Treasury bond sales are dragging the U.S. dollar down. In fact, Russian president Medvedev is calling for some kind of global currency to replace the U.S dollar as the world's reserve currency. (Sound familiar? Like he's taking a page from the Chinese?)

In an interview with CNBC on Monday he said, "We need some kind of universal means of payment, which could create the basis of a future international financial system…"

Of course, this is a horrible idea. As one analyst put it, "It took decades for the euro to be established. I can only imagine how long it would take for the BRIC countries to put together a currency."

*****It's an investing truism that the financials always lead the stock market. Recall that it was bullish comments from Citigroup that kicked off this rally back in early march. And I'm sure nobody needs reminding that it was the financials that kicked off the worst bear market in 80 years.

When the S&P 500 and the Nasdaq blew through their 200-day moving averages on Monday, the financials were out in front. But today, even though the major indices finished with slight gains, many financials finished in the red.

American Express (NYSE:AXP) dropped nearly 5%. JP Morgan (NYSE:JPM) lost 4.46%. Wells Fargo (NYSE:WFC) lost 4% and Citigroup (NYSE:C) lost 4.88%.

Bank of America (NYSE:BAC) is about the only major financial stock to finish in the green, and that was a 1.7% gain. In fact, the Financials SPDR (AMEX:XLF) failed to make a new recovery high along with the Nasdaq and S&P 500.

So what gives? Why have the financials underperformed, and why were they weak today?

*****One clue comes from the Healthcare Select SPDR (AMEX:XLV). As you may know, healthcare stocks are considered defensive stocks. That's because their revenues are seen as being stable as healthcare is a necessary, as opposed to discretionary, expense.

In difficult markets, institutional investors will park their money in healthcare stocks as a way to maintain exposure, but lower risk.

If we compare the Healthcare SPDR XLV to the Financial SPDR XLF, we see an interesting divergence starting on May 8. Healthcare has been trending up since that date. And the Financial SPDR has been trending down. To me, this looks like sector rotation.

It appears that institutional investors are moving money out of aggressive financial investments and into defensive healthcare stocks. When the institutional investors start playing defense, individual investors should pay attention.

*****Technical analyst for TradeMaster Daily Stock Alerts, Jason Cimpl, thinks the rally has about another week before we start seeing some downside. And for good measure, he recommended that his readers take their 29% profits on Fushi Copperweld (Nasdaq:FSIN). This trade took less than 3 weeks. Nice job, Jason.

Jason is still holding the two stocks you may have learned about from the TradeMaster video I included in yesterday's Daily Profit. In case you entered either trade, you should know that Jason has recommended a stop loss for FXI at $35.15 and UNG at $12.60. If you missed the video, you can check it out HERE.

CVR Energy Inc. (Nasdaq:CVI), Green Plains Renewable Energy Inc. (Nasdaq:GPRE) and Western Refining Inc. (Nasdaq:WNR) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Mitcham Industries Inc. (Nasdaq:MIND), Stillwater Mining Co. (Nasdaq:SWC), Cosan Ltd. (Nasdaq:CZZ), New Hampshire Thrift Bancshares Inc. (Nasdaq:NHTB), Daktronics Inc. (Nasdaq:DAKT) and Clinical Data Inc. (Nasdaq:CLDA).

Stone Energy Corp. (Nasdaq:SGY), CVR Energy Inc. (Nasdaq:CVI) and Answers Corp. (Nasdaq:ANSW) are among the biggest percentage losers in Wednesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Rome Bancorp Inc. (Nasdaq:ROME), Investors Title Co. (Nasdaq:ITIC), International Bancshares Corp. (Nasdaq:IBOC), Gamco Investors Inc. (Nasdaq:GBL), Westmoreland Coal Co. (Nasdaq:WLB) and Electro-Optical Sciences Inc. (Nasdaq:MELA).

Selling interest today was offset by optimism over steady declines for inter-bank lending rates and ideas the bad news on the economy has already been priced into the stock market. The Russell 2000 (NYSE:IWM) closed up 0.18%, posting a fifth-consecutive higher close, something that hasn’t happened since April. Today’s small-cap gainers are CVR Energy (NYSE:CVI), Arbor Realty Trust (NYSE:ABR) and Safe Bulkers (NYSE:SB).

Other Market Watch highlights today included:

• The ISM Manufacturing Survey came in at 38.9%, which was below the forecast of 42% and marked the lowest manufacturing activity index in 26 years.
• For the year, the Russell is now down 30%, while the Dow is off 30% and the S&P 500 is down 34%.
• Today's trading was easily the calmest session seen since the collapse began back in mid-September.
• Airlines appeared to get a lift from another pullback in crude oil prices, which were down $3.90 a barrel, or about 5.7%.
• The AMEX Airline Index rose 5.6% to the highest point since Sep. 22 and is now up 85% since the Oct. 10 low. 
• Wireless telecoms were the top performers, followed by tire and rubber stocks, multiline insurers, life health insurers, glass and metal container stocks, gold and aluminum.
• Casinos were out of favor so far today after posting solid gains late last week. Oil exploration and oil production stocks were also down, as were department stores, home improvement retail, automotive retail and oil and gas storage . . .

Small-cap stocks weathered dreadful manufacturing data, plunging car sales, slumping energy stocks and ongoing worries about the economy to post a minor gain Monday. Selling interest was offset by optimism over steady declines for inter-bank lending rates and ideas the bad news on the economy has already been priced into the stock market. The Russell 2000 (NYSE:IWM) closed up 0.97, or 0.18% at 538.50, posting the fifth consecutive higher close, something that hasn’t happened since early April. For the year, the Russell is now down 30%, while the Dow is off 30% and the S&P 500 is down 34%.

The market opened higher in line with yet another decline in Libor lending rates overnight, and was also bolstered by a gain in Asian stock markets. Even after the ISM Manufacturing Survey missed the forecast, small-cap stocks were reluctant to press the downside. It was interesting to note that today’s range of about 10 handles marked the smallest daily trading range since Aug. 26 and was easily the calmest session seen since the collapse began back in mid-September.

Perhaps some of the calm was tied to investors staying away from the market during a week of heavy economic event risk, or perhaps they were reluctant to aggressively take on positions ahead of Tuesday’s presidential elections in the U.S. Barack Obama is widely expected to carry the popular vote and usher in a transition to the White House, but market watchers are still keenly watching how the Senate and House races shape up. There is some thought that a huge sweep by the Democrats could spark some unrest for the stock market on the idea that the country tends to prefer a “balance” between parties in power.

As for the ISM Manufacturing report, it came in at 38.9%, well below the 50% line indicative of contraction in the manufacturing sector. The data clearly suggest that the economy has downshifted into recession-style economic activity, and today’s individual automaker vehicle sales numbers certainly didn’t paint a . . .

Small-cap stocks remained moderately higher into the mid-session time frame, with support from lower inter-bank lending rates and analyst upgrades on key technology and retailer firms offset by a somber reading on manufacturing activity. Today’s small-cap gainers are Arbor Realty Trust Inc. (NYSE:ABR), Advanced Medical Optics Inc. (NYSE:EYE) and CVR Energy (NYSE:CVI).

Other Market Watch highlights today included:

• The market was trading in very tame fashion today, holding a relatively slim trading range while being devoid of the massive volatility.  
• The U.S. dollar was firm against the euro, which also hindered upside in commodity products.  
• Crude oil prices were down about 3%, which likely anchored down energy stocks.
• Oil exploration and oil production stocks were down, as were department stores, home improvement retail, automotive retail and oil and gas storage stocks.  
• Casinos were out of favor so far today after posting solid gains late last week.

Small Cap Gainers:

• Arbor Realty Trust Inc. is up about 42% climbing above the 20-day moving average for the first time in a month. See (NYSE:ABR).
• Advanced Medical Optics Inc. is surging 24% following solid earnings news from Friday. See (NYSE:EYE).  
• CVR Energy Inc. is rallying nearly 24%, extending a big rally that started Friday. It's set to release earnings Thursday. See (NYSE:CVI).  
• China Sunergy announces it will report Q3 results on Nov. 25; shares pop 20%. See (Nasdaq:CSUN).

Small Cap Losers:

• Saga Communications careening 15% ahead of its earnings release tomorrow. See (NYSE:SGA).
• LandAmerica Financial Group to lay off 105 employees, shares down 16%. See (NYSE:LFG).
• Lydall, Inc. down 21% on lower Q4 results due to weak automotive market. See (NYSE:LDL).  
• AtriCure Inc. is tumbling 43% on news that the firm is under investigation by the Department of Justice for potential false claims on the company’s surgical devices. See (Nasdaq:ATRC).

Small-cap stocks remained moderately higher into the mid-session time frame, with support from lower inter-bank lending rates and analyst upgrades on key technology and retailer firms offset by a somber reading on manufacturing activity. At 12:53 p.m. ET, the Russell 2000 (NYSE:IWM) was up 3.37, or 0.63% at 540.89.

Analyst upgrades on Biogen Idec Inc. (Nasdaq:BIIB) propped up the tech sector, while an upgrade on Wal-Mart Stores Inc. (NYSE:WMT) underpinned the consumer arena.

Looking at broad market sector activity today, wireless telecoms were the top performers, followed by tire and rubber stocks, multiline insurers, life health insurers, glass and metal container stocks, gold and aluminum. On the downside, casinos were out of favor so far today after posting solid gains late last week. Oil exploration and oil production stocks were down, as were department stores, home improvement retail, automotive retail and oil and gas storage stocks.

Crude oil prices were down about 3%, which likely anchored down energy stocks. The U.S. dollar was firm against the euro, which also hindered upside in commodity products. The Commodity Research Bureau Index of 19 physical markets was off about 0.7%.

The market was trading in very tame fashion today, holding a relatively slim trading range while being devoid of the massive volatility that has been the hallmark of action since mid-September. Perhaps some of the volatility was curbed by traders taking a breather ahead of the U.S. elections Tuesday. In addition, there are still plenty of economic reports to rile things up as the week progresses.

Speaking of economic reports, today’s ISM Manufacturing Survey came in at 38.9%, which was below the forecast of 42.0% and way off the 50% line that . . .

American Independence Corp. (Nasdaq:AMIC), A Power Energy Generation Systems Ltd. (Nasdaq:APWR) and Tortoise Energy Infrastructure Corp. (Nasdaq:TYG) are among the biggest percentage gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Massmutual Participation Investors (Nasdaq:MPV), Tortoise Energy Capital Corp. (Nasdaq:TYY), Gladstone Commercial 7.75% Pref Shs Series A (Nasdaq:GOODP), CVR Energy Inc. (Nasdaq:CVI), Astro-Med Inc. (Nasdaq:ALOT) and iGate Corp. (Nasdaq:IGTE).

Here are the biggest percentage gainers among small caps:

Agilysys Inc. (Nasdaq:AGYS), PHH Corp. (Nasdaq:PHH) and Danaos Corp. (Nasdaq:DAC) are among the new 52-week lows in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Och Ziff Capital Management Group (Nasdaq:OZM), CVR Energy Inc. (Nasdaq:CVI), Tesco Corp. (Nasdaq:TESO), Thompson Creek Metals Co Inc. (Nasdaq:TC), Monarch Casino & Resort Inc. (Nasdaq:MCRI) and Willbros Group Inc. (Nasdaq:WG).

Here are the new 52-week lows among small caps:

Matrix Service Co. (Nasdaq:MTRX), Gevity HR Inc. (Nasdaq:GVHR) and PHH Corp. (Nasdaq:PHH) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Elbit Imaging Ltd (Nasdaq:EMITF),Celadon Group Inc. (Nasdaq:CLDN),Titan Machinery Inc. (Nasdaq:TITN),Och Ziff Capital Management Group (Nasdaq:OZM), Parker Drilling Co. (Nasdaq:PKD) and CVR Energy Inc. (Nasdaq:CVI).

Here are the biggest percentage losers among small caps: