THE DAILY BRIEF

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Friday 11.20.2009

CURRENT MARKET SENTIMENT

The major indices suffered their first knock and 1093 (S&P). These will be the key
down punch by incurring a 93 points loss to numbers to use as defense on the downside. On
finish at 10332(Dow) and 1095(S&P). Even the upside, 10346 and 1099 might be the upper
with a stronger finish, both indices struggled limit.
to maintain the weekly close of 10270 (Dow)

PRISM CALL
For the first time there was selling pressure in the first 15 minutes yesterday; thereafter, it was once
again controlled selling. Today, the futures are indicating a down opening implying a follow through,
a rare occasion in the past months. Despite being an options expiration day, the sentiment may be
altering indicating that we have reached the peak. Sell the spikes. Show great self-discipline on the
bottom picking.

ECONOMIC CALENDAR INDU & SPUZ TECHNICALS

NONE TODAY! INDICES S2 S1 PIVOT R1 R2

INDU
10169 10233 10338 10443 10572
(DOW)
SPUZ
(S&P) 1079 1085 1197 1108 1115

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 FOREIGN MARKETS NEWS

MTXX Matrixx Initiatives files

MARKET PRICE
 %
FDA Response Letter on nasal
products (3.80 -0.11)
FTSE 5242.22 25.48 -0.48

DAX 5664.32 37.86 -0.66 US Treasury to sell TARP warrants

in public dutch auctions – DJ
HANG SENG 22455.84 187.32 -0.83
CRM Salesforce.com tgt raised to
NIKKEI 9497.68 51.79 -0.54
$70 at Kaufman following postive
feedback from Dreamforce
CHINA 3308.346 12.266 -0.37 conference (62.58 )

German Producer Prices flat in

DOW STOCKS TO WATCH COMMODITY PRICES October vs September – DJ

STRONG WEAK COMMODITY PRICE
 MRO Marathon Oil tgt raised to

$45 at Collins Stewart following
WMT HPQ analyst meeting (33.33 )
OIL 76.35 1.11
MRK UTX COV Covidien announces that FDA
Extends Review of NDA for Exalgo
KO CVX
GOLD 1134.7 7.20 (45.13 )
BAC AXP
BTU Goldman raises their tgts on
select Coal stocks; removes BTU
from their Conviction Buy list-
UPGRADES & DOWNGRADES Reuters
The firm raises Patriot Coal Corp
(PCX) target to $14 from $12 and
STOCKS UPGRADED
reits their Sell. The firm raises
BROKERAGE their Massey Energy (MEE) target
COMPANY RATINGS CHANGE PRICE TARGET
FIRM
to $48 from $38, Alpha Natural
Cyberonics (CYBX) Piper Jaffray Neutral » Overweight $20 Resources (ANR) to $56 from $50,
CONSOL Energy (CNX) to $58
Lexington (LXP) Stifel Nicolaus Hold » Buy $5.50
from $54, Arch Coal (ACI) to $27
Suntech Power (STP) Soleil Sell » Hold $13.50
from $24.

Liberty Media (LINTA) Citigroup Hold » Buy PG Procter & Gamble expects
organic sales to improve
Martin Marietta (MLM) UBS Neutral » Buy sequentially - DJ (62.15 )
Vulcan Materials (VMC) UBS Neutral » Buy
LFL Lan Airlines S.A. initiated
Dillard's (DDS) Deutsche Bank Hold » Buy $13.50 » with a Overweight at JP Morgan
$28 (14.64 )
STOCKS DOWNGRADED
DB Deutsche Bank CEO says 2010
BROKERAGE
COMPANY RATINGS CHANGE PRICE TARGET to be another challenging year for
FIRM
banks - DJ (75.41 )
CSX Corp (CSX) Stifel Nicolaus Buy >> Hold 49.14

Research in Motion IBN ICICI Bank lowers yld in bond

FTN Equity Buy >> Neutral 58.84
(RIMM) sale, according to source -
Dominion (D) Citigroup Hold >> Sell Reuters.com (37.06 )

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 EARNINGS

FL Foot Locker prelim $0.10 vs $0.13 First Call consensus; revs $1.21 bln vs $1.19 bln First Call
consensus

FL Foot Locker misses by $0.03, beats on revs (10.59 -0.51)

ARCL Archipelago Learning prices 6.25 mln IPO at $16.50 per share, within the expected $15-17 range

SVN 7 Days Group prices 10.1 mln share IPO at $11 per share, the high end of the expected $9-11 range

CLD Cloud Peak Energy prices 30.6 mln share IPO at $15 per share, below the expected $16-18 range

DHI DR Horton misses by $0.43, misses on revs (12.25 )

SJM J.M. Smucker beats by $0.14, beats on revs; guides FY10 EPS above consensus, revs in-line
(53.48 )

ANN AnnTaylor beats by $0.13, misses on revs (13.81 )

LG Laclede Gas Company increases quarterly dividend to 39.5 cents per share from 38.5 cents per share
(31.60 -0.84)

MRK Merck receives CHMP positive opinion for new fertility treatment, ELONVA (35.33 )

DNDN Dendreon receives FDA acknowledgement of complete response (28.05 )

BSX Boston Scientific Announces FDA Clearance and CE Mark for WallFlex Fully Covered Esophageal
Stent

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 TECHNICAL ANALYSIS

Symbol S7 S6 S5 S4 S3 S2 S1 PIVOT R1 R2 R3 R4 R5 R6 R7
Sectors
SPX 1060.50 1067.39 1071.65 1078.54 1085.43 1087.56 1089.68 1096.58 1103.48 1105.60 1107.73 1114.62 1121.51 1125.77 1132.66
INDU 9999.52 10064.16 10104.10 10168.74 10233.38 10253.35 10273.23 10337.96 10402.69 10422.57 10442.54 10507.18 10571.82 10611.76 10676.40
NDX 1718.65 1729.31 1735.89 1746.54 1757.20 1760.49 1763.77 1774.43 1785.10 1788.38 1791.67 1802.32 1812.98 1819.56 1830.21
XBD 109.63 110.99 111.84 113.20 114.56 114.99 115.40 116.77 118.14 118.56 118.98 120.34 121.70 122.55 123.91
BKX 41.89 42.29 42.54 42.95 43.35 43.48 43.60 44.01 44.41 44.54 44.66 45.07 45.47 45.72 46.13
TRAN 3774.95 3812.48 3835.67 3873.20 3910.73 3922.32 3933.87 3971.45 4009.03 4020.57 4032.17 4069.70 4107.23 4130.42 4167.95
OIX 657.74 664.74 669.06 676.07 683.07 685.23 687.39 694.40 701.41 703.56 705.72 712.73 719.73 724.05 731.06
OSX 179.96 182.89 184.70 187.63 190.56 191.47 192.37 195.30 198.23 199.14 200.04 202.97 205.90 207.71 210.64
XNG 471.29 477.44 481.24 487.39 493.54 495.44 497.34 503.49 509.65 511.54 513.44 519.59 525.74 529.54 535.69
CYC 742.23 751.10 756.58 765.45 774.32 777.06 779.79 788.67 797.55 800.28 803.02 811.89 820.76 826.24 835.11
UTY 379.73 381.92 383.28 385.47 387.66 388.34 389.01 391.21 393.41 394.08 394.76 396.95 399.14 400.50 402.69
DRG 292.23 293.96 295.03 296.76 298.49 299.02 299.55 301.29 303.02 303.55 304.09 305.82 307.55 308.62 310.35
RLX 387.79 390.32 391.88 394.41 396.94 397.72 398.50 401.03 403.57 404.34 405.12 407.65 410.18 411.74 414.27

Tradeables

SPY 105.73 106.56 107.08 107.91 108.74 109.00 109.25 110.09 110.92 111.17 111.43 112.26 113.09 113.61 114.44
DIA 101.13 101.59 101.87 102.33 102.79 102.93 103.07 103.53 103.99 104.13 104.27 104.73 105.19 105.47 105.93
QQQQ 42.24 42.52 42.69 42.97 43.25 43.33 43.42 43.70 43.98 44.06 44.15 44.43 44.71 44.88 45.16
QLD 50.53 51.22 51.65 52.34 53.03 53.25 53.46 54.15 54.85 55.06 55.27 55.96 56.65 57.08 57.77
IWM 55.90 56.46 56.81 57.37 57.93 58.10 58.27 58.84 59.40 59.57 59.75 60.31 60.87 61.22 61.78
OIH 112.37 114.01 115.02 116.67 118.31 118.82 119.32 120.97 122.61 123.12 123.62 125.27 126.91 127.92 129.57
XLE 54.73 55.23 55.53 56.03 56.52 56.67 56.83 57.32 57.82 57.97 58.12 58.62 59.11 59.42 59.91
FAZ 17.77 18.10 18.31 18.64 18.97 19.08 19.18 19.51 19.84 19.95 20.05 20.38 20.71 20.92 21.25
FAS 69.39 70.83 71.71 73.15 74.59 75.03 75.47 76.91 78.35 78.79 79.23 80.67 82.11 82.99 84.43
SRS 8.23 8.34 8.40 8.51 8.61 8.65 8.68 8.79 8.89 8.93 8.96 9.07 9.17 9.24 9.35
SDS 34.91 35.25 35.47 35.81 36.15 36.26 36.37 36.71 37.05 37.16 37.27 37.61 37.95 38.17 38.51
USO 37.56 38.00 38.26 38.70 39.14 39.27 39.40 39.84 40.28 40.41 40.54 40.98 41.42 41.68 42.12
SKF 22.89 23.17 23.34 23.61 23.89 23.97 24.06 24.33 24.61 24.69 24.78 25.05 25.33 25.50 25.77

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