(Editorās Note: Don Vialoux is scheduled to appear on Bermanās Call on BNN on Monday at 11:30 AM EST)
Pre-opening Comments for Friday December 21st
U.S. equity index futures are lower this morning. S&P 500 futures are down 21 points in pre-opening trade. Index futures are responding to news that House leader Boehner did not table Plan B for a vote last night.
Index futures were virtually unchanged following release of economic news. Consensus for November Personal Income was an increase of 0.3% versus no change in October. Actual was an increase of 0.4%. Consensus for November Personal Spending was an increase of 0.3% versus a decline of 0.2% in October. Actual was an increase of 0.6%.
Canadaās economic news was mixed. October real GDP was expected to increase 0.1%. Actual was an increase of 0.1%. Consensus for November Consumer Prices was an increase of 1.1% on a year-over-year basis. Actual was an increase of 0.8%.
IBM fell $2.42 to $192.35 despite Topeka initiating coverage with a Buy rating.
Nike added $3.60 to $102.60 after UBS raised its target price from $106 to $115.
Research in Motion fell $1.80 to $12.32 despite reporting better than consensus quarterly results. However, the company also announced a new revenue model that raised trader concerns. CLSA downgraded the stock from Under Perform to Sell.
McDonalds slipped $0.83 to $89.21 despite resumed coverage by Wells Fargo with an Outperform rating.
Interesting Charts
Tax loss selling pressures took their toll on gold equity ETFs on both sides of the border.
An Update on Sector Seasonal Trades
The following sector seasonal trades remain in gear. All trades:
Ā· Remain in an intermediate uptrend
Ā· Remain above their 20 day moving average
Ā· Have positive strength relative to the S&P 500 Index
The following seasonal trades have recorded technical deterioration recently.
Special Free Services available through www.equityclock.com
Equityclock.com is offering free access to a data base showing seasonal studies on individual stocks and sectors. The data base holds seasonality studies on over 1000 big and moderate cap securities and indices.
To login, simply go to http://www.equityclock.com/charts/
Following is an example:
Lumber Futures (LB) Seasonal Chart
FP Trading Desk Headline
FP Trading Desk headline reads, āMagna, Silver Wheaton and TD Bank amongh RBCs Top Picks for 2013ā. Following is a link to the report:
Disclaimer: Comments and opinions offered in this report at www.timingthemarket.ca are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed.
Don and Jon Vialoux are research analysts for Horizons Investment Management Inc. All of the views expressed herein are the personal views of the authors and are not necessarily the views of Horizons Investment Management Inc., although any of the recommendations found herein may be reflected in positions or transactions in the various client portfolios managed by Horizons Investment Management Inc
Horizons Seasonal Rotation ETF HAC December 20th 2012
