kaltbaum email

A few things from today:
 
BIOTECH worsens as past leaders like ALXN and BIIB head deeper into the abysss.
 
Really thought market could have decent day today but the early bump again was sold. Financials held market from worsening…but not much there.
 
Construction stocks were strong because of hurricane and not sure they last.
 
NASDAQ and NDX on the 200 as AAPL sits just off 200 but AMZN now really getting ugly.
 
Really like the action in gold and silver stocks…not the metal. I may take a trade in the GDX in the morning as well as SLW and AUY…the two strongest names…just not sure if I want to do much in this environment.
 
KORS remains tight above 50 day but needs a better market to get moving out.

THANK YOU SANTELLI FOR ECHOING MY THOUGHTS

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SOURCE: http://www.zerohedge.com

kaltbaum premarket

Greetings!
 
If you were affected by the storm, I wish you well…and that things get back to normal as soon as possible.
 
I am surprised futures are not up more because Europe and Asia have been strong since the weekend. I have S&P futures up half percent…but NDX futures about flat because AAPL down almost $7. AAPL disposed of their software and retail guys because of Iphone 5 problems.
 
Today is end of month…and then November where supposedly there is seasonal strength. Of course, there is next week’s election.
 
Nevertheless, the market has been under pressure but near term, I think it was trying to carve out a low…especially with the nasdaq and ndx at the 200 day. So…I am expecting some near-term upside but keep in mind, there has been a decent amount of technical damage…especially in growth land.
 
Also…many companies that were supposed to report past couple of days will report randomly over the next few days. We will be looking for the numbers but more importantly, the reactions.
 
Just spectators today as I think trading may stay light. Do not forget that foreign markets are now trading better than U.S. markets…and will look to play off of that as we go forward. You see what printing of money will do. It all started when Europe and Japan announced their own QE.

THIS IS YOUR CON ARTIST NATIONAL MEDIA AT THEIR BEST…

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DO NOT QUESTION ANYTHING ON LIBYA BUT QUESTION ROMNEY’S GOOD INTENTIONS.

MSNBC’s Andrea Mitchell on Tuesday questioned the sincerity of a “storm relief” event organized by Republican presidential candidate Mitt Romney in Ohio, arguing that the Red Cross apparently has no need for donated clothes or canned goods.

“You’ve got the image of Mitt Romney doing what, they say, is not a campaign event in the same space they were going to hold a campaign event. They say they’re making collections for hurricane and storm relief,” the MSNBC anchor said during a Tuesday broadcast of “Mitchell Reports.”

“We checked with the Red Cross. The Red Cross said, while they’re always grateful for donations, that this is not what they need or want. They always tell people, ‘please donate money, because we have our own packagers, wholesalers’ — they have their own distribution system,” she continued.

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SOURCE: http://www.theblaze.com

MICHAEL MOORE…NOTHING BUT CLASS!

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The latest liberal ad to hit the internet shows an old woman saying, “I’m going to give Romney a cock-punch right in his nut sack.”

Liberals think violence is funny… Especially when they’re talking about beating Republicans.

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SOURCE: http://www.thegatewaypundit.com

HERE WE GO AGAIN. I GUESS A $1.3 TRILLION DEFICIT IS NOT ENOUGH FOR THESE IMBECILES!

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Most Americans have never heard of the National Response Coordination Center, but they’re lucky it exists on days of lethal winds and flood tides. The center is the war room of the Federal Emergency Management Agency, where officials gather to decide where rescuers should go, where drinking water should be shipped, and how to assist hospitals that have to evacuate.

Disaster coordination is one of the most vital functions of “big government,” which is why Mitt Romney wants to eliminate it. At a Republican primary debate last year, Mr. Romney was asked whether emergency management was a function that should be returned to the states. He not only agreed, he went further.

“Absolutely,” he said. “Every time you have an occasion to take something from the federal government and send it back to the states, that’s the right direction. And if you can go even further and send it back to the private sector, that’s even better.” Mr. Romney not only believes that states acting independently can handle the response to a vast East Coast storm better than Washington, but that profit-making companies can do an even better job. He said it was “immoral” for the federal government to do all these things if it means increasing the debt.

It’s an absurd notion, but it’s fully in line with decades of Republican resistance to federal emergency planning. FEMA, created by President Jimmy Carter, was elevated to cabinet rank in the Bill Clinton administration, but was then demoted by President George W. Bush, who neglected it, subsumed it into the Department of Homeland Security, and placed it in the control of political hacks. The disaster of Hurricane Katrina was just waiting to happen.

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SOURCE: http://www.nytimes.com

kaltbaum weekend report

AMGN- Acting just fine.
ALXN– Broke badly…very badly…goner.
EXPE– Gaps up strong on decelerating earnings…but goes back on this list.
EBAY- Good reaction to numbers…fine for now.
HD- Holding 50 day.
KORS- Still tight above 50 day. Needs to hold in here.
MA Pulls back right into the 50 day and holds for now.
N- Strong reaction to earnings.
SHW– Finally a goner…breaks 50 day and trendline badly.
UA– Breaks badly on numbers…goner!
ULTA– Off list as it heads deeper below 50 day.
V- Just pulling back so far.
WFM– Breaks 50 day and off list.
 
5 names come off list…with EXPE added back on….leaving only 7 names on this list…which is not good news. The only decent news is that maybe…just maybe…the market trying to carve out a near-term low into end of month. I say this because some major indices sitting on the 200 day where I do not think the market will give up so easily. On top of that, AAPL maybe held the 200 day…which will be important. AMZN had good reaction off of crappy numbers…which helped. I will probably add CMCSA and LL to the list soon…but not buyable right now.
There is not much more to add. Looks like the NYSE will close the floor but be open electronically. Only Wall Street cares more about money than just letting go for a day. Not sure there will be a tone of trading tomorrow and Tuesday because of the colossal storm.

COMMUNISM DOES PAY OFF!

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BEIJING — The mother of China’s prime minister was a schoolteacher in northern China. His father was ordered to tend pigs in one of Mao’s political campaigns. And during childhood, “my family was extremely poor,” the prime minister, Wen Jiabao, said in a speech last year.

But now 90, the prime minister’s mother, Yang Zhiyun, not only left poverty behind, she became outright rich, at least on paper, according to corporate and regulatory records. Just one investment in her name, in a large Chinese financial services company, had a value of $120 million five years ago, the records show.

The details of how Ms. Yang, a widow, accumulated such wealth are not known, or even if she was aware of the holdings in her name. But it happened after her son was elevated to China’s ruling elite, first in 1998 as vice prime minister and then five years later as prime minister.

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SOURCE: http://www.nytimes.com

HOPE YOU ARE ALL BATTENING DOWN THE HATCHES!

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Hurricane Sandy will probably grow into a “Frankenstorm” that may become the worst to hit the U.S. Northeast in 100 years if current forecasts are correct.

Sandy may combine with a second storm coming out of the Midwest to create a system that would rival the New England hurricane of 1938 in intensity, said Paul Kocin, a National Weather Service meteorologist in College Park, Maryland. The hurricane currently passing the Bahamas has killed 21 people across the Caribbean, the Associated Press reported, citing local officials.

“What we’re seeing in some of our models is a storm at an intensity that we have not seen in this part of the country in the past century,” Kocin said in a telephone interview yesterday. “We’re not trying to hype it, this is what we’re seeing in some of our models. It may come in weaker.”

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SOURCE: http://www.bloomberg.com

WHY DOESN’T MSNBC JUST HAVE A SHOW ON THIS? JUST CHECK THIS BOX!

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It should come as no surprise that MSNBC’s socially liberal anchors are biased in favor of gay marriage — saying it’s an issue of “marriage equality.” But on Friday’s MSNBC Live, anchor Thomas Roberts dropped all pretext of being a neutral journalist by explicitly telling viewers how they should vote on the controversial issue.

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SOURCE: http://newsbusters.org