Trader Talk – Final Hour

Action was mixed into midday, but stock market averages are holding modest gains heading into the final hour Tuesday. The Case Shiller Price Index released early was better-than-expected at -1.9 percent, but had no impact on opening trading. Sluggish action continued after the latest Consumer Confidence data showed a decline to 62 for June, from 64.4 in May and below expectations of 64. The underlying tone of trading remained cautious heading into midday on media reports German Chancellor Merkel said Europe won’t have shared liability on debt. The euro fell to session lows, but is now little changed at 1.249 on the buck. Crude oil erased its early losses and gained 13 cents to $79.34. There seems to be a modest move out of safe haven investments. Gold lost $14.5 to $1574 an ounce and the benchmark ten-year Treasury is off 8/32nd, bringing its yield to 1.63 percent. The Dow Jones Industrial Average is now up 60 points and 10 points from session highs. The tech-heavy NASDAQ added 20. VIX slipped below the 20 “psyche level” and is off .76 to 19.62, amid very light volumes in the options market.4.9 million calls and 4.4 million puts so far.

News & Notes
Waiting on EU. Doubts Remain
Rumors from sources continue to cross wires; the latest is Conservative German lawmakers being told that EU discussing removing preferred creditor status from ESM – Briefing
German Chancellor Merkel says Europe will not have shared liability for debt as long as she lives — Reuters
Egan Jones downgrades Germany from AA- to A+. Outlook negative

Movers
Symbol Last Change %Change StdDevs
JRCC 2.43 -0.49 -16.8% 1.89
GTXI 3.53 +0.48 +15.6% 5.14
GGS 5.28 -0.72 -12.0% 2.67
ATPG 3.01 -0.40 -11.7% 1.29
BMTI 2.84 -0.33 -10.4% 2.51
CYD 13.70 +1.29 +10.4% 3.65
SAH 13.39 +1.23 +10.1% 2.38
JKS 3.56 -0.40 -10.1% 2.11
CHOP 2.86 +0.26 +10.0% 1.37
MHO 15.32 +1.39 +10.0% 1.65


Shakers
Symbol IV[30d] IVChg IVChg% SkewAdjChg Last Change
HTS 15.0% +8.3 +125.3% N/A $29.19 -0.09
APOL 35.7% -23.2 -39.4% -18.7 $35.42 +2.95 Post-Earnings
NLY 8.3% -4.0 -32.6% N/A $17.13 +0.01
WIN 18.6% -7.8 -29.7% -6.6 $9.73 +0.13
BPOP 50.1% +7.3 +17.0% +7.3 $15.00 +0.18
BMO 23.0% +3.2 +16.1% +3.2 $53.55 +0.30
PGH 34.8% +4.4 +14.6% +2.6 $5.87 -0.15
BBD 33.5% -5.3 -13.8% -5.8 $14.18 -0.01
MBI 50.1% -7.3 -12.8% -7.2 $10.11 +0.30
VQ 99.2% +10.8 +12.2% +8.2 $10.20 -0.10

52-Week Highs
46 new highs: AACC AFCE AKRX ARRS ATRS AUXL BF/B CAMP CBM CMEDY CTFO CYBX DDD DG FMX HNP HPP KOF LEE LNDC LOPE MTH MWIV NWS NWSA O ONXX OSIR PCYC QCOR RAI RPRX RYL SBAC SEM SIX SPNC SRDX STR SUSS TWTC UMBF WFM WMT WNR WWWW

52-Week Lows
107 new lows: ABB ACI ALVR ANR APKT ARX ATML ATPG AVX BAS BHI BJRI BTU CAST CCMP CEL CETV CHRW CNX CS CTCM CTIC CWTR DMND ENG ERF ESEA EVEP EVER EXC EXM EXPD FCN FLIR FNFG FWLT GCOM GDI GEF GGS GLF GNK GNTX GTI HAL HPQ HUSA IL ITUB JKS JNPR JOY KDN KEG KV/A MEMP MINI MPO MRVL MSPD MTOR MTZ NFX NIHD NOK NRP PBR PBR/A PCS PCX PDS PGH PTEN RIC RIMM ROVI RSH RSTI SFY SI SID SIMG SLH SM SMS SPN SSN STBZ STV SVNT SYMC TC TIF TPX TTWO ULTR UNT VC VLCCF VTUS WAVX WHZ WLT WTW XEC XRA ZQK

Notable Flow
MDCO – Bullish flow detected in Medicines Company with 2871 calls trading, or 50x the recent avg daily call volume in the name. Shares near $22.11 (0.16) with ATMIV lifting by 6.89 point and 95% of todays call premium trading offer side. Auto Content (Trade-Alert) 12:41

APKT – Bearish activity detected in Acme Packet Inc with 3652 puts trading, or 2x the recent avg daily put volume in the name. Shares near $18.319 (-0.816) with ATMIV lifting by 2.60 point and 60% of todays put premium trading offer side. Auto Content (Trade-Alert) 12:31

FHN – Bullish flow detected in First Horizon National Corp with 2663 calls trading, or 18x the recent avg daily call volume in the name. Shares near $8.295 (0.385) with ATMIV lifting by 2.73 point and 95% of todays call premium trading offer side. REGBANKS Auto Content (Trade-Alert) 12:21

PTEN – Bullish flow detected in Patterson UTI Energy Inc with 5168 calls trading, or 18x the recent avg daily call volume in the name. Shares near $12.955 (-0.135) with ATMIV lifting by 3.29 point and 88% of todays call premium trading offer side. Auto Content (Trade-Alert) 11:41

ADI – Bearish activity detected in Analog Devices Inc with 3606 puts trading, or 11x the recent avg daily put volume in the name. Shares near $36.39 (-0.57) with ATMIV lifting by 1.20 point and 69% of todays put premium trading offer side. Auto Content (Trade-Alert) 11:31

Tags: featured, Sentiment

Category: Market Update