kaltbaum premarket

Wanted to clear a couple things up:
 
The leaders list I send to you is for your review. It is what I believe are the best institutionally owned growth names…typically trading more than 750,000/day…notwithstanding something like a CMG. The list also contains comments on each to give you an idea where things stand. It is a must you check out the charts for yourself to see exactly what I am talking about. It doesn’t mean you just go out and buy them. Also, anything breaking below the 50 day/10 week typically comes off the list.
 
In markets like this…where we have ridiculous whipsaws, gaps to the upside and downside, things can change. In recent days, we have seen a real ugly sell right at resistance but the ability for the leaders list to show real underlying strength versus the market…
 
In an uptrending market or when everything is dead, it is much easier. So we walk into today…and another big gap to the downside. A NY TIMES article was written that stated China government is not telling the truth about the slowdown and that it is much worse than reported. Of course, we already know about Europe.
 
So do nothing right here…regardless of my comments over the weekend. We need to see what happens with another gap to the downside. Simple as that.

Greetings from Corfu in Greece. Didnt realize it but it is 7 hours later here. I will be watching the market here and there during the next 9 days. I expect markets to quiet down the day before and the day after July 4th. First…a few notes: Friday’s late action was russell rebalancing. A lot of stocks had massive volume into the last few minutes. I wish these morons would get it done earlier. Next week is not just end of month…but end of quarter…so thinking market will not get cheesed. That said, the news will remain fluid. I am here at supposed ground zero and there is just a lot of awful talk. I was in Italy yesterday…and not great shakes there either. Thursday’s action was gross as the market sold off right into resistance…at the 50 day/10 week moving average. Many technicians are now very bearish because of it…but I must tell you, it is normal to stall at resistance before potentially moving above it. Not saying it is going to happen…just keeping open all possibilities. I really liked the action in leaders on Friday. A lot of pulling in because of Thursday but a lot of holds on Friday with some stocks setting up in tight handles. Here is the list:

 AAPL-pulled right into 50 day and so far held. If it decides, add breaking above the 590 area. Very tight action…but needs to hold 50 day. .

AMZN- tight action…needs to move above 226. . ALXN-failed 95 pivot but not back at it.

BIIB-still strong but slooow earnings. CRUS-failed 29.50 breakout but now back near it.

 CERN-suspect action coming straight down but holds the 50 day…so far.

 DLTR-still fine and holding above 21 day…minor pullback so far.

EBAY-holds breakout with good pattern.

 EXPE-pulled back but still strong riding up 21 day.

 FDO-not thrilled with pullback but still holding.

 EQIX-fails breakout and heading back into 50 day

. MNST-finally breaks 21 day…heading into 50 day.

 PETM-strong…just pulls into 21 day.

 ROST-minor pullback.

 SHW-pulling towards 50 day.

 SWI-holds 50 day Friday.

 TRIP-breaking out on friday and looks buyable in here.

 TJX- still ascending but slower.

UA-harsh drop back into the 50…volume patterns turning negative.

 ULTA-sitting tight near pivot after strong reaction to numbers.

WFM-no issues.

I am also now watching:

 LNKD…in a handle above the 50 day…a potential buy moving above handle…107.

 CMG in a handle above the 50 day…a potential buy moving above handle…419.50.

 PCLN in a handle but below the 50 day…needs to leap above.

 V looks like it is breaking out here but have to see how much was the rebalancing.

MA also breaking nicely above the 50 day.

 So as you can see…even with crappy action Thursday…all these names look good. You can probe any of the names sitting on the 50 day with stops below so very low risk…or any names breaking above handles mentioned …but I must tell you…right now, the better plays are on the pulling in. I would continue to play small…as the markets are a pain in the rear…but I am highly confident this list is the best list out there. If you decide to probe a handle breakout and it tucks its head in like a frightened turtle, dont just sit there. You can always buy back…but again, small positions give less risk until success comes.

BUSINESS AS USUAL! AS I HAVE SAID, THE MOST CORRUPT WE HAVE EVER SEEN…AND NO ONE KNOWS BECA– USE THE PAWS IN THE AIR, TONGUE WAGGING, LAPDOG MEDIA IS IN THE TANK

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Rewind to 2009. The fight over ObamaCare is raging, and a few news outlets report that something looks ethically rotten in the White House. An outside group funded by industry is paying the former firm of senior presidential adviser David Axelrod to run ads in favor of the bill. That firm, AKPD Message and Media, still owes Mr. Axelrod money and employs his son.

The story quickly died, but emails recently released by the House Energy and Commerce Committee ought to resurrect it. The emails suggest the White House was intimately involved both in creating this lobby and hiring Mr. Axelrod’s firm—which is as big an ethical no-no as it gets.

Continued

SOURCE: http://online.wsj.com

THIS WILL CERTAINLY HELP WITH THEIR PROBLEMS AND DEFICITS…

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 BRUSSELS — For most Europeans, almost nothing is more prized than their four to six weeks of guaranteed annual vacation leave. But it was not clear just how sacrosanct that time off was until Thursday, when Europe’s highest court ruled that workers who happened to get sick on vacation were legally entitled to take another vacation.

“The purpose of entitlement to paid annual leave is to enable the worker to rest and enjoy a period of relaxation and leisure,” the Court of Justice of the European Union, based in Luxembourg, ruled in a case involving department store workers in Spain.“The purpose of entitlement to sick leave is different, since it enables a worker to recover from an illness that has caused him to be unfit for work.”

Continued

SOURCE: http://www.nytimes.com

kaltbaum pre market

Someone had heart attack on plane…but will be alright. Diverted to Nova Scotia…arrived in Europe a few hours late.
 
Futures up a wee bit…yesterday was gross gross gross. I am glad I told you to keep position size small. I am really worried after yesterday that the high for the rally was yesterday…as a failure…a bad failure at the 50 day is no good. I do not think it pays to be long in here…and would take continue to use the 50 day on aapl as a sell…if it breaks…and would keep a close leash on anything else. I know things can change quickly in this news-driven environment and all the yapping…but I have to measure whether one can make hay…and thinking not.
 
Keep in mind that next week is end of month action so maybe able to sell better into bounce but that is not assured.

kaltbaum email

Just got into Atlanta airport…holy s–t Batman. This does not look like a pullback from the 50 day. It looks like a failure. Keep positions small…but for now: CRUS is a failed move…especially looking at the SOX…WOULD NOT HOLD. DLTR is back near the buy…will give it one more day. Use 50 day on AAPL. EBAY is ok…but will not be long for the world. I will be watching the open tomorrow.

AND WHAT’S A LOUSY $9 BILLION!

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 (CNSNews.com) – The Obama administration distributed $9 billion in economic “stimulus” funds to solar and wind projects in 2009-11 that created, as the end result, 910 “direct” jobs — annual operation and maintenance positions — meaning that it cost about $9.8 million to establish each of those long-term jobs.

Continued

SOURCE: http://cnsnews.com

kaltbaum premarket

RHT,BBBY,CELG gapping down. BBBY gapping below support and moving avgs meaning it comes off my potential buy list. Would have not bought it anyhow as earnings were approaching. I typically have no interest in something right before earnings.

Use the 50 day as a stop on AAPL…just below 575ish.

DLTR,CRUS,EBAY look fine…except DLTR got a little frothy on its last move. The service is up big since initiating DLTR at $84 and then buying back recently.

Market is sitting right into 50 day/10 week average here…and is overbought. A pullback/stall would not be bad…unless we start to see heavy selling and breakdowns. Keep in mind, next week is end of month…so maybe get another bump. Just keep in mind, I am in the camp that this aint going to be easy…so keep positions small and take your time.

I change planes in Atlanta and may have some time to write to you from airport right after close. If not, will send something to you in the morning…from beautiful Venice, Italy.

kaltbaum premarket

RHT,BBBY,CELG gapping down. BBBY gapping below support and moving avgs meaning it comes off my potential buy list. Would have not bought it anyhow as earnings were approaching. I typically have no interest in something right before earnings.

Use the 50 day as a stop on AAPL…just below 575ish.

DLTR,CRUS,EBAY look fine…except DLTR got a little frothy on its last move. The service is up big since initiating DLTR at $84 and then buying back recently.

Market is sitting right into 50 day/10 week average here…and is overbought. A pullback/stall would not be bad…unless we start to see heavy selling and breakdowns. Keep in mind, next week is end of month…so maybe get another bump. Just keep in mind, I am in the camp that this aint going to be easy…so keep positions small and take your time.

I change planes in Atlanta and may have some time to write to you from airport right after close. If not, will send something to you in the morning…from beautiful Venice, Italy. 

 

kaltbaum report

I dont know what you call today but think market is short term very overbought so thinking possibly maybe could be a pullback in order. Doing nada here. Will have premarket report…but no report tomorrow night as I will be traveling.

BBBY comes off potential leaders list…gapping down $9 in aftermarket.

Watching ULTA here as it sets up…and hoping ALXN pulls in some more.