kaltbaum email

I had no time to scan as it was my son’s 21st. The good news is MLNX looks to be on the move…with other growth names sitting tight. Would love to see some shaking out first before any move higher. Will have more in the morning.

kaltbaum pre market

Futures flat…
 
Not adding anything here…but gave you a list of names that are sitting tight. Just need to see them move on volume out of range.
 
Too many calling for a pullback here. Maybe one occurs but just letting you know…too many calling for it.
 
I am watching less the market and more of these names that are sitting tight. If they dont move out, nothing to do. If they move out, we add.

kaltbaum email

 

A lot of names starting to tighten up in here. I am all over watching EQIX in this handle, the housing stocks which are acting really well,TJX tightening up, ROST which is on service, WFM tightening and now ESRX with the gap to the breakout…which just needs a handle now. There are a few others like TSCO,PNRA in handles so if the market hangs in there, I expect a few of these to be on the move.
 
I am not thrilled that recent move has been without growth but that can change.

COULD THE STOCK PRICE DECIMATION BE CAUSING THIS?

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Facebook has been dealt yet another blow as three of its top executives have announced they are quitting the social networking company.

Director of platform partnerships, Ethan Beard, director of platform marketing, Katie Mitic, and mobile platform marketing manager, Jonathan Matus, have handed in their resignations.

They are just the latest top-ranking employees to quit the San Francisco-based company, which has lost a handful of execs following its poorly received IPO in May and tumbling share prices.

Continued

SOURCE: http://www.dailymail.co.uk

kaltbaum midday

Very good day today even with indices sitting. My point is that there is no giveback and the areas recently leading wont pull back.
I think you go probe a little MLNX here. If you don’t like buying extended, you will not want to buy…but this is powerful action. I would only go small at first as again, if market does come in, it can pull in. It is the #1 strong stock here with a flag building on a flag…a rare sighting. Doesn’t mean it works…but think it is worth a shot.

IF THIS IS TRUE…

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Wells Fargo allegedly fired an employee because his dying daughter needed expensive cancer treatment, according to a lawsuit filed on Thursday.

Wells Fargo fired mortgage consultant Yovany Gonzalez three days before his daughter Mackenzie was scheduled to get cancer surgery in August of 2010, the lawsuit states. According to the suit, the hospital canceled the surgery because Mackenzie no longer was covered by health insurance. She died of cancer in March of 2011.

Continued

SOURCE: http://www.huffingtonpost.com

DON’T WORRY. COSTS WILL GO DOWN UNDER OBAMA’S HEALTH CARE PLAN! HE TOLD US THAT.

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We should believe it. Businesses will not be affected. He told us that. We should believe it. 

After President Obama’s health care law takes full effect, the slogan for national pizza chain Papa John’s may need an update. Instead of, “Better ingredients. Better Pizza,” may we suggest, “Better health care. Pricier pizza.”

Papa John’s CEO John Schnatter says that Obamacare will result in a $0.11 to $0.14 price increase per pizza, or $0.15 to $0.20 cents per order, Pizza Marketplace, a trade publication, reports. (Hat tip: @dkberman via Twitter.)

Under Obamacare, the company, which is the third-largest pizza takeout and delivery chain in the United States, will have to offer health care coverage to more of its 16,500 total employees or pay a penalty to the government.

Continued

SOURCE: http://www.huffingtonpost.com

AND HERE COMES THE 75% FROM THOSE DASTARDLY HIGH EARNERS

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PARIS — The call to Vincent Grandil’s Paris law firm began like many others that have rolled in recently. On the line was the well-paid chief executive of one of France’s most profitable companies, and he was feeling nervous.

President François Hollande is vowing to impose a 75 percent tax on the portion of anyone’s income above a million euros ($1.24 million) a year. “Should I be preparing to leave the country?” the executive asked Mr. Grandil.

The lawyer’s counsel: Wait and see. For now, at least.

Continued

SOURCE: http://www.nytimes.com

YUP…I’TS THEIR FAULT. I AM PERFECT. WHY ARE YOU EVEN QUESTIONING ME?

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In an interview with Black Enterprise magazine, President Barack Obama blames state and local governments, as well as Congress, for over 14 percent black unemployment.  

“Black unemployment still stands at nearly 14%. How do you communicate that the economy is headed in the right direction?,” the editor in chief of Black Enterprise asks Obama.

“Most economists will tell you that there is no doubt the economy has gotten stronger, but we are digging ourselves out a deep hole. There are a lot more things we could be doing. To get them done, we need cooperation of Congress. We got the payroll tax portion of [my American Jobs Act] done, but what we didn’t get done is the assistance I was proposing to the states to help them hire back teachers, firefighters, and first responders, because one of the weakest parts of this recovery has been state and local government hiring,” Obama responds.

Continued

SOURCE: http://www.weeklystandard.com

kaltbaum premarket

Last night I told you that market may pull in here as we saw some churning signs yesterday…but that pales in comparison to this morning. First off, we pay attention to the market…not the other crap we have to deal with on a daily basis…but all that crap is out there to be seen.
 
This morning…I get in my car…get into standstill I-4 traffic…and whip out the newspapers while I sat. Every newspaper had bullish articles on the market and amazingly, every article had reasons why market was moving up. The writing was almost giddy. There was only one mention of more printing of money and no mention of what is wrong. I HATE BULLISH ARTICLES. We shall see if this is meaningful.
 
On the other side, received a few emails about all the round numbers being hit like S&P 1400, Russell 800…most being suspect of the move.
 
For me, this recent move has been the worst areas rallying as growth has basically sat throughout this latest few day move. I expect any pullback at this point to be controlled and hoping it gets a few of my favorites mentioned here set up. Names like EQIX are sitting tight and just need to see it move out…so be ready.
 
PCLN coughing one up…affecting other names in the group as well as some internet names. I will be watching how EXPE acts off of this.
 
Z,EZCH,RL,MCD,DISH,AVT gapping down…DF,RAX,ESRX gapping up. Looked at RAX numbers…not sure why the strong reaction.