DAILY MARKET HIGHLIGHTS

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Wednesday 11.04.2009

CURRENT MARKET SENTIMENT

The indices managed to finish flat with the Dow words, “extended period” which the Street is
9772(-17.17) and S&P 1045. The magic number expecting to remain the same. The financial
of 1036 was defended which facilitated a move sector is betting its life on it. Any change might
toward the daily pivot laying the foundation for trigger the market to sell off. An up move
a push at 2:00 PM. Nothing else matters, but the towards 9838 is an opportunity to sell.
FOMC. The focus will be on the change of two

PRISM CALL

Futures are looking up about six handles, indicating a fairly strong open. The FOMC is coming out today
and we need to look at the comments to determine if bias is changing. The odds are the fed won’t raise
interest rates nor change bias yet. Until the number, the market will probably trade in a range, so take
quick profits when you have them. After the meeting, I expect the market to march up, trying to shake
out shorts and renew the confidence of the bulls. Insurance and gold are very strong this morning, so look
to those sectors for increased volatility.
ECONOMIC CALENDAR INDU & SPUZ TECHNICALS

TIME INDICATOR RANGE EXPECTATION PRIOR ACTUAL INDICES S2 S1 PIVOT R1 R2

8:15 ADP -250K to - -200K -254K -203K
AM Employment 157K INDU
9671 9703 9753 9806 9838
Change (DOW)
10:00 ISM Non-Manf. 49.2 to 51.5 50.9 SPUZ
AM Composite 54.4
(S&P) 1029 1034 1042 1050 1054
10:30 US Crude Oil 1000K to 1500K 778K
AM Inventories 2500K
10:30 US Gasoline -1600K to 660K 1619K
AM Inventories 2000K
10:30 US Distillate -2200K to -1000K -2134K
AM Inventory 2000K
10:30 US Refinery -1.10% to 0.20% 0.68%
AM Utilization 1.00%
2:15 FOMC Rate 0.25% to 0.25% 0.25%
AM Decision 0.25%

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 FOREIGN MARKETS NEWS

Reid indicates timetable for

MARKET PRICE
 %
health care may slip – AP
FTSE 5088.84 51.63 1.02
ECONX October ADP
DAX 5429.37 76.02 1.42 Employment Change -203K vs -
198K consensus
HANG SENG 21614.77 374.71 1.76

NIKKEI 9844.31 41.36 0.421 COMDX Gold continues to push

higher, in electronic trade this
CHINA 3128.537 14.31 0.46 morning, and earlier it traded to
a new all time high at $1096.20;
currently higher by $6.20 to
DOW STOCKS TO WATCH COMMODITY PRICES $1091.10

STRONG WEAK
COMMODITY PRICE
 Republicans take governor's
CAT BA races in N.J., Virginia;
OIL 80.37 0.77 Bloomberg re-elected as mayor -
UTX XOM Globe and Mail
PG MRK
GOLD 1091.3 6.40
CVX GE ECONX MBA Mortgage
Applications +8.2% vs -12.3%
Prior
UPGRADES & DOWNGRADES
White House Tally Appears to
Overstate Stimulus Jobs -
STOCKS UPGRADED WSJ.com
BROKERAGE
COMPANY RATINGS CHANGE PRICE TARGET Deutsche Bank upgrades EOG
FIRM
Resources (EOG 81.97) to Buy
France Telecom (FTE) Goldman Neutral>>Buy 25.28
from Hold and rases their tgt to
Viacom (VIA.B) Oppenheimer Perform>>Outperform $110 from $78 saying the co's
28.68 32>>36
ING Group (ING) RBS Hold>>Buy
uniquely non-consensus focus on
13.10 horizontal oil drilling will spur
Emerson Electric (EMR) Societe Generale Sell>>Hold growth rates and garner wider
38.97
investor interest moving into
General Dynamics (GD) Credit Suisse Neutral>>Outperform 2010
62.55

STOCKS DOWNGRADED Deutsche Bank upgrades C.R.

BROKERAGE Bard (BCR 75.74) to Buy from
COMPANY RATINGS CHANGE PRICE TARGET
FIRM Hold with an $88 tgt saying with
Harmony Gold (HMY) Deutsche Bank Buy>>Hold 9.96 a significant FX tailwind into
next year, underlying growth
RBC Capital Outperform>>Sector
SL Green Realty (SLG)
Markets Perform
38.76 trends will improve.
Overweight>>Equal
Black & Decker (BDK) Barclays 62.00
Weight BNI Burl Nrth Santa Fe
L-3 Comm (LLL) Credit Suisse Outperform>>Neutral 73.94 downgraded to Neutral from
Overweight at JP Morgan
Burlington Northern
(BNI)
UBS Buy>>Neutral 97.00 (97.00)

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 EARNINGS

WPI Watson Pharm beats by $0.01, misses on revs (35.34 )

CKP Checkpoint Systems misses by $0.07, reports revs in-line; guides FY09 EPS in-line, revs above consensus
(14.01 )

ADP Automatic Data beats by $0.06, beats on revs; guides FY10 EPS in-line (40.65 )

RIG Transocean misses by $0.02, reports revs in-line (85.91 )

AGU Agrium reports EPS in-line, misses on revs; guides Q4 EPS (48.01 )

BPI Bridgepoint Education beats by $0.11, beats on revs; guides FY09 EPS above consensus, revs above consensus
(14.59 )

RDN Radian Group beats by $0.46 (5.92 )

TRW TRW Automotive beats by $0.52, beats on revs; guides Q4 revs above consensus (16.98 )

MMC Marsh McLennan beats by $0.22, misses on revs (23.37 )

GRMN Garmin beats by $0.33, beats on revs (31.41 )

PHM Pulte Homes misses by $0.46, misses on revs (9.23 )

CMCSA Comcast beats by $0.08, reports revs in-line (14.51 )

WCG WellCare Group beats by $0.15, reports revs in-line; guides FY09 EPS in-line (26.32 )

RRD Donnelley & Sons beats by $0.08, beats on revs (20.75 )

Vanguard Natural Resources reports Q3 EPS of $0.58 vs $0.57 First Call consensus

PWR Quanta Services beats by $0.11, misses on revs; guides Q4 EPS below consensus, revs in-line (21.66 )

XTO XTO Energy beats by $0.02, beats on revs (42.24 )

HUN Huntsman misses by $0.16, beats on revs (8.19 )

BDX Becton Dickinson reports EPS in-line, beats on revs (69.91

TEL Tyco Electronics beats by $0.03, beats on revs; guides Q1 EPS above consensus, revs above consensus
(21.71 )

TWX Time Warner beats by $0.08, reports revs in-line; guides FY09 EPS above consensus (30.16 )

BHI Baker Hughes misses by $0.10, misses on revs (43.43 )

TOT Total 3Q net profit -37% as refining, oil prices down - DJ (60.80 )

DVN Devon Energy beats by $0.20, beats on revs (66.45 )

FBR Capital notes HIG last night reported 3Q09 operating EPS of $1.56, vs. the consensus of $1.11

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 TECHNICAL ANALYSIS

Symbol S7 S6 S5 S4 S3 S2 S1 PIVOT R1 R2 R3 R4 R5 R6 R7
Sectors
SPX 1017.06 1021.81 1024.74 1029.48 1034.23 1035.69 1037.15 1041.90 1046.65 1048.11 1049.58 1054.32 1059.07 1062.00 1066.74
INDU 9587.26 9619.19 9638.92 9670.84 9702.77 9712.63 9722.45 9754.42 9786.39 9796.21 9806.08 9838.00 9869.93 9889.66 9921.58
NDX 1634.27 1641.65 1646.21 1653.59 1660.97 1663.25 1665.52 1672.91 1680.30 1682.57 1684.85 1692.23 1699.61 1704.17 1711.55
XBD 107.27 108.16 108.72 109.61 110.50 110.78 111.05 111.95 112.85 113.12 113.40 114.29 115.18 115.74 116.63
BKX 40.15 40.57 40.84 41.26 41.68 41.82 41.95 42.37 42.79 42.93 43.06 43.48 43.90 44.17 44.59
TRAN 3326.08 3402.28 3449.35 3525.55 3601.75 3625.29 3648.72 3725.02 3801.32 3824.76 3848.29 3924.49 4000.69 4047.76 4123.96
OIX 630.90 639.05 644.09 652.24 660.39 662.91 665.42 673.58 681.74 684.25 686.77 694.92 703.07 708.11 716.26
OSX 170.11 174.14 176.63 180.67 184.70 185.95 187.19 191.23 195.27 196.51 197.75 201.79 205.82 208.31 212.35
XNG 460.44 467.08 471.19 477.83 484.47 486.53 488.57 495.22 501.87 503.92 505.97 512.61 519.25 523.36 530.00
CYC 676.26 685.80 691.69 701.23 710.77 713.71 716.65 726.20 735.75 738.68 741.63 751.17 760.71 766.60 776.14
UTY 374.18 375.48 376.28 377.59 378.89 379.29 379.69 381.00 382.30 382.70 383.10 384.41 385.71 386.51 387.82
DRG 277.97 279.38 280.26 281.67 283.08 283.52 283.95 285.37 286.79 287.22 287.66 289.07 290.48 291.36 292.77
RLX 363.94 367.41 369.55 373.02 376.49 377.56 378.63 382.10 385.58 386.64 387.71 391.18 394.65 396.79 400.26

Tradeables

SPY 101.81 102.29 102.59 103.07 103.55 103.70 103.85 104.33 104.81 104.96 105.11 105.59 106.07 106.37 106.85
DIA 95.89 96.21 96.42 96.74 97.07 97.17 97.27 97.60 97.93 98.03 98.13 98.45 98.78 98.98 99.31
QQQQ 40.19 40.37 40.48 40.67 40.85 40.91 40.96 41.15 41.33 41.39 41.44 41.63 41.81 41.92 42.11
QLD 45.88 46.31 46.58 47.00 47.43 47.56 47.69 48.12 48.55 48.68 48.82 49.24 49.67 49.94 50.36
IWM 53.82 54.35 54.68 55.22 55.75 55.92 56.08 56.62 57.15 57.32 57.48 58.02 58.55 58.88 59.42
OIH 106.33 108.80 110.32 112.79 115.26 116.02 116.78 119.25 121.72 122.48 123.24 125.71 128.18 129.70 132.17
XLE 51.92 52.68 53.15 53.91 54.67 54.90 55.14 55.90 56.66 56.89 57.13 57.89 58.65 59.12 59.88
FAZ 19.55 20.12 20.47 21.05 21.62 21.80 21.97 22.55 23.12 23.30 23.47 24.05 24.62 24.97 25.55
FAS 59.37 61.12 62.20 63.94 65.69 66.23 66.77 68.51 70.26 70.80 71.34 73.08 74.83 75.91 77.65
SRS 8.84 9.10 9.25 9.50 9.76 9.83 9.91 10.16 10.42 10.49 10.57 10.82 11.08 11.23 11.48
SDS 38.95 39.32 39.55 39.92 40.29 40.40 40.52 40.89 41.26 41.37 41.49 41.86 42.23 42.46 42.83
USO 37.27 37.83 38.18 38.75 39.31 39.49 39.66 40.23 40.79 40.97 41.14 41.71 42.27 42.62 43.19
SKF 24.39 24.84 25.12 25.58 26.03 26.17 26.31 26.77 27.22 27.36 27.50 27.96 28.41 28.69 29.15

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