The VRTrader.com VR Silver Newsletter - Tuesday 6/14/2011"Tools for the High Performance Trader"
Copyright ©2011, All rights reserved.
Redistribution in any form is strictly prohibited. LEIBOVIT FILES | by Mark Leibovit Leibovit Files
Tuesday, June 14, 2011
We're at the key 200-day Moving Average!
I am starting my letter off this morning with the follow from subscriber H.C. from Canada (he did not want me to mention his name).
"Thank you ,thank you, thank you. You have saved me at least 100k in the last couple of weeks. Spent some of the savings on some charities and banked the cash." HC
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Commentary below from Mark Leibovit, TIMER DIGEST's #1 Intermediate Market Timer for the 10-year period ending in 2007, the #2 Intermediate Market Timer for the 10-year period ending in 2009, AND the #3 Gold Timer for the Ten Year Period ending 12/31/10.
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TIMER DIGEST SIGNALS:
Stocks - BEAR -
The market is clearly bearish. TIMER DIGEST magazine just announced I was the #2 Market Timer for the previous six month period. Bearish does not necessarily mean bear market or crash, but we have to treat it that way until proven otherwise. The 'Street' is fearful and if were follow patterns seem over the past couple of years, we have a long hot summer of ups and mostly downs ahead of us. Platinum subscribers took profits yesterday into weakness because I like to 'ring the register' ahead of today's potential 'Turnaround Tuesday'. When volume turns positive, I will turn positive regardless of the news or market sentiment which should, in theory, be the worst at the bottom.
Gold - BULL -
Technical negatives surely made themselves evident yesterday in gold and especially silver, but no surprise here. Platinum subscribers were long inverse ETFs in gold and silver. That said, I remain a bull. Why? Because for nearly 10 years, every time gold (and to a lesser extent silver) break, the bears come charging out of the woodwork predicting the bursting of the bubble. Under no circumstances will I sell my gold and silver! Why, because any shakeout is nothing more than a bear trap that can and will be quickly reversed. The 'powers that be', i.e., the banking and financial interest of this country and Europe see the end their reign of power ahead. This includes the U.S. Treasury, Federal Reserve and Congress. They can no longer hide. Their enemy is the internet and the truth! When banks can be lent money at zero percent by the Federal Reserve and then turn around and lend that money out (at no risk) at six percent, you know there is truly something 'rotten in Denmark' an d it smells to high heaven. Hold your gold and silver. In addition to your Second Amendment right to bear arms, it is the safest strategy in your hands.
Bonds - BULL -
Both the 7-10 and 20-30 bonds stalled a bit yesterday, so I took profits and stood aside. I am still biased to higher bond prices, but the room is beginning to get a bit crowded. People are saying if they can't be in the stock market why not buy corporate or treasuries? I say go to cash an save the commissions until the dust settles
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Technical Analysts Corner -
Most indexes are at or near their respective 200 day moving averages. Under there, oblivion or just a bear trap? No answer from me! So far, the market is exactly what my Leibovit Volume Reversal and the adage of 'Sell May and Go Away' said would occur. There should be no surprises to anyone, except those who are stubborn! A 9% to 20% correction are both within the realm of possibility.
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UPCOMING ECONOMIC RELEASES/MARKET EVENTS
JUNE 14 - 17, 2011:
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TUESDAY, JUNE 10:
The Bulls are praying for a 'Turnaround Tuesday'
The Bears are banking on a bounce down the 'Slope of Hope'
NFIB Small Business Optimism Index
7:30 AM ET
ICSC-Goldman Store Sales
7:45 AM ET
Producer Price Index
8:30 AM ET
Retail Sales
8:30 AM ET
Redbook
8:55 AM ET
Business Inventories
10:00 AM ET
4-Week Bill Auction
11:30 AM ET
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WEDNESDAY, JUNE 10:
MBA Purchase Applications
7:00 AM ET
Consumer Price Index
8:30 AM ET
Empire State Mfg Survey
8:30 AM ET
Treasury International Capital
9:00 AM ET
Industrial Production
9:15 AM ET
Housing Market Index
10:00 AM ET
EIA Petroleum Status Report
10:30 AM ET
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THURSDAY, JUNE 10:
Housing Starts
8:30 AM ET
Jobless Claims
8:30 AM ET
Current Account
8:30 AM ET
Bloomberg Consumer Comfort Index
9:45 AM ET
Philadelphia Fed Survey
10:00 AM ET
EIA Natural Gas Report
10:30 AM ET
3-Month Bill Announcement
11:00 AM ET
6-Month Bill Announcement
11:00 AM ET
30-Yr TIPS Announcement
11:00 AM ET
Richard Fisher Speaks
1:10 PM ET
Fed Balance Sheet
4:30 PM ET
Money Supply
4:30 PM ET
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FRIDAY, JUNE 10:
Quadruple Options Expiration Witching Day
Consumer Sentiment
9:55 AM ET
Leading Indicators
10:00 AM ET
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STOCKS - ACTION ALERT -
The stock market jumped out of the gate yesterday after a wave of weekend merger and acquisition news. But the market gave up its gains and finished flat as pessimism continues about the economy after some weaker than expected data out of Asia and sovereign debt worries remain as Greece was downgraded yet again. The Dow Industrials, which had been up nearly 60 points, finished up just 1.06 at 11952.97. The S&P 500 rose 0.85 or 0.07% to 1271.83, but the NASDAQ fell 4.04 or 0.15% to 2639.69 and the Russell 2000 dropped 2.34 or 0.30% to 777.20.
Internals were negative. Breadth was negative. Small caps fell more than large caps as traders looked for safety. Likewise, defensive stocks outperformed (XLP +0.45%, XLU +0.45%, and XLV +0.50%) while commodity stocks fell sharply (XLB -0.59% and XLE -1.58%) and economically-sensitive stocks traded mixed (XLI +0.03% and XLY -0.13%). Clearly, traders were cautious yesterday.
One area where traders show some strength was in Financials (XLF +1.01%) on continued rumors that Federal Reserve bank capital requirements may be smaller than expected. Some analysts are also pointing out that Financials might benefit from the upcoming Russell 2000 rebalancing.
The market tried to rally on good news yesterday but failed. The charts show a clear downtrend. All the major indexes hit new multi-month lows yesterday, as did a number of market sectors (XLB, XLY, XLE, XLI, XLK). The NASDAQ Composite is sitting right at its 200-day moving average and the other indexes are much above their 200-day moving averages. Clearly, the indexes hope to find support at the 200-day moving averages (SPX 1255) and the March lows (SPX 1249).
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DOW TRANSPORTS - ACTION ALERT -
Transportation stocks outperformed yesterday as oil prices fell sharply. The Dow Jones Transportation Average rose 11.99 or 0.24% to 5072.58.
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GOLD and METALS - ACTION ALERT -
Precious metals fell sharply as traders worried about demand amid weaker than expected economic data out of Japan and China. Gold fell 16.80 to 1515.30, silver dropped 1.44 to 34.76, platinum lost 30 to 1796, palladium declined 18 to 792, and copper slipped 0.0215 to 4.0345.
With the economy slowing, inflation is taking a back seat and traders are selling commodities. However, a slowing economy will make it much more difficult for debt-laden nations, including the United States, to balance their budgets. Countries like Greece, Portugal, and Ireland could very well default if the economy slows too much. And the United States will have to print money to fund its deficits. All this is bullish for gold, but not as bullish for the industrial metals.
Gold is the one commodity which has resisted the cycles affecting other commodities and stocks. The reason is that gold functions more and more like a currency. Keep in mind that whether the dollar is strong or weak, it is not in absolute terms but always in relative terms. Almost all developed countries are printing money. Currencies of all but two developed countries - Australia and Canada - are being debased, it is just a question of which are being debased the fastest. From the perspective of gold the only thing that matters is the overall debasement, not which currency is being debased the most.
Our view of the future is that gold remains in the surest bull market - the one least likely to suffer severe corrections. Other commodities remain in very powerful, but cyclical bull markets - subject to sometimes very severe corrections. Stocks, by contrast, are likely to go nowhere - big ups and big downs, yes, but in the end a lot of sound and fury, with no real long-term gains.
What could change things? Unfortunately, it is easier to see how things could get worse. At a certain point an ever-weaker dollar could lead to a sharp rise in bond yields that in turn could lead to a horrible vicious circle in which the Fed would probably have to intervene in the market. The result would likely be massive inflation leading to a very unpredictable but unlikely to be bright future.
For more in depth coverage of all the week's action, subscribe to the VR Gold Newsletter. http://www.vrgoldletter.com/. "Gold and silver are money. Everything else is credit." - J.P. Morgan
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URANIUM - ACTION ALERT
Spot Uranium 56.00. No sign of a bottom, but I am watching volume carefully. Uranium has swung from the June 13, 2007 high of 154.95 down to 40.00 and recently backup to 73.00 until the Japanese earthquake. We were on our way until Japan fell into the ocean. Not much else to say other than there is a great deal of press is being given the reduction or elimination of nuclear as an energy source. It helps define the phrase made famous by radio talk host, Michael Savage: 'Liberalism is a mental disorder'.
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BONDS - ACTION ALERT-
Bond should have rallied yesterday on the weak economic news and downgrade of Greece. However, as mentioned above, a weak economy will increase the United States' budget deficit and could drive rates higher instead of lower, being that they are already so low to start with.
Yesterday, the long bond future declined 10/32 to 125 13/32.
The Federal Reserve Bank of New York bought $4.62 billion in Treasury debt on Monday, part of a program that's the centerpiece of the U.S. central bank's loose monetary policy. Dealers offered to sell the Fed $16.2 billion in 2018-21 notes.
Jeffrey Lacker, president of the Richmond Fed, expressed worries about the slow pace of hiring in the manufacturing sector due to uncertainty about the strength and sustainability of the recovery as well as the future regulatory and tax environment.
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CRUDE OIL - ACTION ALERT -
Oil fell to its lowest level in nearly a month after the weaker than expected economic news out of Japan and China. Crude oil declined 1.99 to 97.30. I am bearish but we took trading profits in our inverse ETF Crude Oil position. Downside potential is still somewhere from the high 80s to low 90s. Just a hunch, but later this year or next year we're going to see a push over 114 into the 120s.
The price difference between Brent and Nymex-traded WTI has reached new highs, as the U.S. benchmark is considered a more local market, subject to the worries about a slowdown in the United States. Brent futures gained 32 cents, or 0.3%, to $119.10 a barrel on ICE Futures in London.
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US DOLLAR AND CURRENCIES- ACTION ALERT -
The US Dollar Index fell yesterday while the Euro finished mixed as Europe is expected to support Greece while traders worry that the US economy is slowing more than the rest of the world (thus, the record spread between West Texas and Brent crude). Additionally, the European Central Bank hinted last week that it's likely to raise interest rates next month while the US is expected to keep rates near zero for the foreseeable future. The US Dollar Index declined 0.306 to 74.489.
We know that the US Dollar tends to fare better under US Democratic administrations, but, so far, its performance has been as expected, anemic. Forces are at work to push the US Dollar higher, so as traders we have to be careful. I am in the camp that believes the US Dollar is going the way of the dodo bird, but present technical patterns are more bullish than bearish.
Luxembourg's Prime Minister Jean-Claude Juncker, who leads the group of euro-area finance ministers, said that any bailout for Greece must include "voluntary" investor participation. Juncker is trying to bridge the gap between Germany's Schaeuble, who wants Greek bondholders to accept longer maturities of up to seven years on the debt, and Trichet, who said imposing losses on creditors would be akin to a default.
On Tuesday, the finance ministers of the 17 countries using the euro currency are meeting and are expected to support Greece and pledge to do everything necessary to secure the stability of their common currency. European Union leaders are expected to decide next week whether to offer Athens a new package of financial help.
Yesterday afternoon, Standard & Poor's Ratings Services on Monday pushed Greece's credit rating deeper into junk territory due to the "significantly higher" likelihood of default over the next year. S&P downgraded its long-term sovereign credit rating by three rungs to CCC from B with a negative outlook. S&P has a short-term rating of C. S&P, citing recent comments from government officials, said it believes some official creditors will see restructuring of Greek commercial debt as a necessary condition to additional funding. The downgrade, which knocks Greece down to the lowest-rated sovereign in the world, follows a pair of rating cuts by Moody's Investors Service and Fitch Ratings in recent weeks.
Greece's 10-year yield jumped 0.24% to 16.97%, near to its record high of 17.10%. Irish yields are up 0.11% to 11.35% and Portugal's are up 0.23% to 10.67%, both record highs.
The Euro rose 0.46% against the Dollar and also rose against the Yen and Canadian Dollar, but fell against the Australian Dollar, Swiss Franc, and British Pound.
Japanese core machinery orders slipped 0.2% in April from the previous year and 3.3% from March, Japan's Cabinet Office said Monday. Economists had expected a 1.2% rise from March. These data are considered a leading indicator of corporate capital spending, but are highly volatile. Core orders exclude those for ships and for large electric-power equipment. The monthly data for March surprised on the upside, despite that month's devastating earthquake and tsunami, marking a 2.9% rise when economists had expected a 9.6% drop.
The Yen rose 0.10% against the Dollar but fell 0.36% against the Euro.
The People's Bank of China data showed Chinese financial institutions issued 551.6 billion yuan ($85 billion) of new loans in May, easing from 739.6 billion yuan in April and missing a consensus expectation of 650 billion yuan cited in several news reports.
Money supply as measured by M2 was up 15.1% at the end of May from a year earlier, easing from a 16.6% rise in April and shy of an expected 15.5% rise. Growth in M1, which is considered a key gauge of deposits by the corporate sector, rose 12.7% versus estimates for a 13.7% rise.
The Yuan rose 0.04% against the Dollar.
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CORPORATE NEWS:
VF Corp. said it will acquire The Timberland Co. for $43 per share, which represents a total enterprise value of around $2 billion net of cash acquired. TBL jumped 44.05% and VFC gained 10.03%.
Wendy's/Arby's Group said it will sell sandwich chain Arby's Restaurant Group Inc. to Roark Capital Group. Wendy's/Arby's Group will retain an 18.5% ownership interest in the Arby's business. The aggregate transaction value is estimated to be $430 million. WEN was up 0.88%.
Switzerland-based Allied World Assurance Co. Holdings agreed to acquire Transatlantic Holdings for roughly $3.19 billion in stock. TRH rallied 9.50% while AWH declined 4.53%.
Gerber Scientific, the maker of automated manufacturing systems for the sign making and packaging industries, agreed to be acquired by Vector Capital for $281.8 million. Vector is paying $11 a share for Gerber. The deal is a 35% premium to Gerber's closing stock price on June 10. GRB surged 35.34%.
Honeywell International Inc. said Monday it would buy EMS Technologies Inc. for about $491 million in cash to expand in "rugged mobile-computing technologies" and satellite communications. The purchase price values EMS at $33 a share, a 72% premium to the stock's three-month trading average and a 33% premium to its closing price Friday. ELMG soared 32.26% while HON inched up 0.32%.
Gilead Sciences said late Friday that it has received a subpoena from the Attorney's Office for the Northern District of California for documents related to the manufacture and quality and distribution practices for several drugs including Atripla, Emtriva, Hepsera, Letairis, Truvada, and Viread. The Justice Department is also requesting information on the company's investigational fixed-dose combination of Truvada and Edurant. Gilead did not elaborate on the probe but said it is cooperating with the investigation. GILD slipped 0.67%.
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AFTER-HOURS NEWS:
Danaher said in a statement that it's proposed a public offering of 17.5 million shares of its common stock. Danaher said it expects to use net proceeds from the proposed offering to pay a portion of the purchase price of its planned acquisition of bio-medical equipment maker Beckman Coulter Inc., and for general corporate purposes if any proceeds remain or if the Beckman Coulter deal doesn't close. Danaher is planning to buy Beckman Coulter for $5.87 billion. DHR fell 1.8% in after hours.
Kinder Morgan Energy Partners said it's filed for an underwritten public offering of 6.7 million common units representing limited partner interests. Kinder plans to grant the underwriters a 30-day option to purchase up to 1,005,000 additional common units to cover any overallotments. KMP declined 2.1% in late trading.
Cliffs Natural Resources said late Monday that it has raised $853.7 million via a public offering of 10.35 million shares. The mining company plans to use the funds to repay debt incurred as part of its takeover of Consolidated Thompson Iron Mines as well as for general corporate purposes. CLF dropped 1.6% in after hours trading.
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Canadian TSX, TSX Venture and Canadian Dollar Commentary for our Canadian clients updated for Tuesday, June 14.
Canadian stocks fell sharply, underperforming compared to the US market, as commodity stocks fell with the declines in oil and metals. The TSX lost 144.28 or 1.10% to 12939.72, its lowest close since November 2010. My 12,600 downside target is lies ahead unfulfilled.
A consortium of large Canadian banks and pension funds on Sunday said four additional firms would sign onto its C$3.6 billion ($3.7 billion) bid for the operator of Canada's Toronto Stock Exchange, according to The Wall Street Journal. The group, Maple Group Acquisition Corp., in May disclosed a counterbid for TMX Group Inc. in an effort to derail a deal between TMX and London Stock Exchange Group PLC announced three months earlier. Quebec's Desjardins Financial Group, and Toronto-based GMP Capital Inc., Dundee Capital Markets Inc. and Manulife Financial Corp. are joining Maple Group, according to the Journal. The consortium was formed to block the exchange from falling into non-Canadian hands. TMX Group shareholders are scheduled to vote later this month on the LSE's $3 billion bid. TMX Group rose 0.89%.
Uranium stocks sank after Italy voted to ban nuclear power. Uranium One Inc. (UUU) slumped 7.1 percent to C$2.61. The Vancouver-based company has fallen for 11 straight days as reports last week said Japan's 54 nuclear reactors may go idle next spring and Germany said in May it would close its nuclear reactors by 2022.
Energy 309.47 -5.86 (-1.86%)
Financials 186.84 -0.43 (-0.23%)
Health Care 58.48 -0.13 (-0.22%)
Industrials 113.95 -1.43 (-1.24%)
Info Tech 31.37 -0.34 (-1.07%)
Metals & Mining 1,297.32 -9.38 (-0.72%)
Telecom 97.25 -1.49 (-1.51%)
Utilities 219.81 -1.05 (-0.48%)
Resistance is 13,162, 13,450, 13,901, 14,089, 14,330, 14,715, 15,000, 15,600. Support is 12,850, 12,600, 12,501, 12,200
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CANADIAN TSX Venture:
The Venture fell a similar amount as falling metal prices hit the mining-heavy index. The TSX Venture dropped 18.64 or 0.96% to 1916.29, its lowest close since October 2010.
Resistance: 1957, 2107, 2127, 2254, 2291, 2400, 2465, 2535, 2575. Support: 1902, 1887, 1806, 1788.
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THE CANADIAN DOLLAR (using the FXC Exchange Traded Fund):
The Canadian Dollar rose, despite being pressured by falling commodities, as the US Dollar was even weaker. FXC gained 0.17 to 101.81.
Resistance is 105.25, 108.00, 110.00, 113.00. Support is 101.08, 99.77, 95.96, 93.20, 92.50 91.82, 91.00, 89.75, 87.50 and 85.18.
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DAILY LEIBOVIT VOLUME REVERSAL LIST:
Editor's note: The Daily VR List. Canadian shares are listed at the top of each section with the title: '...CANADIAN STOCKS...'.
However, to retrieve the Leibovit VR Sequential, Leibovit VR Directional and Leibovit VR 2-Day 'Add-Ons' you need to subscribe to Metastock:
http://tinyurl.com/469bbzh
Whether you're a trader or money manager, the use of my Add-on will be an invaluable and unique complement to your regimen. It is
30 years in the making, so don't miss it!
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VOLUME REVERSALS FOR MONDAY, JUNE 13, 2011:
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POSITIVE LEIBOVIT VOLUME REVERSALS:
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.. CANADIAN STOCKS ... Canadian Stocks
K.UN KINROSS GOLD
RON.UN RONA INC
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U.S. STOCKS:
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AEROSPACE/DEFENSE Aerospace/Defense Products & S
HEI Heico Corp
AUTOMOTIVE Auto Manufacturers - Major
TSLA Tesla Motors Inc
AUTOMOTIVE Auto Parts
MLR Miller Industries Inc
PLI Proliance International Inc
AUTOMOTIVE Trucks & Other Vehicles
NNN.C Navistar International Corp-Pr
WNC Wabash National Corp
BANKING Foreign Regional Banks
BBD Banco Bradesco Sa
LYG Lloyds Tsb Group Plc
BANKING Money Center Banks
BAC Bank Of America Corp
CS Credit Suisse Group
BANKING Regional - Mid-Atlantic Banks
ANCX Access National Corp
BAC.J Bank of America Corp-Preferred
BANKING Regional - Midwest Banks
MBR Mercantile Bancorp
NTRS Northern Trust Corp
BANKING Regional - Northeast Banks
CBNJ Cape Bancorp
CBU Community Bank Systm Inc
BANKING Regional - Pacific Banks
BSRR Sierra Bancorp
FCTY 1st Century Bancshares` Inc
BANKING Regional - Southeast Banks
BKBK Britton & Koontz Cap Cp
CSFL Centerstate Banks Of Florida
BANKING Regional - Southwest Banks
OABC OmniAmerican Bancorp Inc
WTBA West Bancorporation Inc
BANKING Savings & Loans
ESBF Esb Financial Corp
FRC First Republic Bank
CHEMICALS Agricultural Chemicals
AVD American Vanguard Corp
CHEMICALS Specialty Chemicals
GRA W.R. Grace & Co
STRI Str Holdings Inc
CHEMICALS Synthetics
ARJ Arch Chemicals Inc
IPHS Innophos Hldngs Inc
COMPUTER HARDWARE Computer Peripherals
IMMR Immersion Corporation
COMPUTER HARDWARE Data Storage Devices
PAR 3Par Inc
TDC Teradata Corporation
COMPUTER SOFTWARE & SERVICES Application Software
FNDT Fundtech Ltd
ORCL Oracle Corporation
COMPUTER SOFTWARE & SERVICES Business Software & Services
TSRI Tsr Inc
COMPUTER SOFTWARE & SERVICES Healthcare Information Service
MEDH MedQuist Holdings Inc
COMPUTER SOFTWARE & SERVICES Information Technology Service
NCR Ncr Corp
COMPUTER SOFTWARE & SERVICES Technical & System Software
CNQR Concur Technologies Inc
INFY Infosys Technologies Ads
CONSUMER DURABLES Appliances
HELE Helen Of Troy Ltd
IRBT iRobot Corp
CONSUMER DURABLES Business Equipment
XRX Xerox Corp
CONSUMER DURABLES Electronic Equipment
GNRC Generac Holdings Inc
HIT Hitachi Ltd
CONSUMER DURABLES Recreational Goods
MOV Movado Group Inc
CONSUMER DURABLES Sporting Goods
ELY Callaway Golf Co
CONSUMER NON-DURABLES Cleaning Products
SCL Stepan Co
CONSUMER NON-DURABLES Office Supplies
ATX A.T. Cross Co
CONSUMER NON-DURABLES Packaging & Containers
GEF-B Greif Brothers Corp B
CONSUMER NON-DURABLES Paper & Paper Products
CVO Cenveo Inc
GLT Glatfelter
CONSUMER NON-DURABLES Personal Products
G Gillette Company
UG United Guardian Inc
CONSUMER NON-DURABLES Rubber & Plastics
ATR Aptargroup Inc
CONSUMER NON-DURABLES Textile - Apparel Clothing
COLM Columbia Sportswear Co
MFB Maidenform Inc
CONSUMER NON-DURABLES Textile - Apparel Footwear & A
BWS Brown Shoe Co Inc
CROX Crocs Inc
DIVERSIFIED SERVICES Business/Management Services
ACN Accenture Ltd
BKR Michael Baker Corp
DIVERSIFIED SERVICES Consumer Services
CPC Central Parking Corp
DIVERSIFIED SERVICES Education & Training Services
CEDU Chinaedu Corp
EDU New Oriental Edu And Tech Corp
DIVERSIFIED SERVICES Research Services
CBMX Combimatrix
DIVERSIFIED SERVICES Security & Protection Services
MAGS Magal Security Systems
DIVERSIFIED SERVICES Staffing & Outsourcing Service
SRT Startek Inc
DIVERSIFIED SERVICES Technical Services
CACI Caci International Inc
KTOS Kratos Defense & Sec Sol. Inc.
DRUGS Biotechnology
AVEO AVEO Pharmaceuticals Inc
CADX Cadence Pharmaceuticals Inc
DRUGS Diagnostic Substances
DNDN Dendreon Corporation
HGSI Human Genome Sciences
DRUGS Drug Manufacturers - Major
ABT Abbott Laboratories
ALIM Alimera Sciences Inc
DRUGS Drug Manufacturers - Other
AGN Allergan Inc
ARNA Arena Pharmaceuticals
DRUGS Drug Related Products
SLXP Salix Pharmaceuticals Ltd
ELECTRONICS Diversified Electronics
AMSC American Superconductor
ESLR Evergreen Solar Inc
ELECTRONICS Printed Circuit Boards
TTMI Ttm Technologies Inc
ELECTRONICS Scientific & Technical Instrum
ANEN Anaren Inc
CVI Lehman Abs Corp Sr
ELECTRONICS Semiconductor - Broad Line
GSIT GSI Technology Inc
MLNX Mallanoc Technologies Ltd Ord
ELECTRONICS Semiconductor - Integrated Cir
AXTI Axt Inc
HITT Hittite Microwave Corp
ELECTRONICS Semiconductor - Specialized
ARMH ARM Holdings PLC ADS
SPWRA SunPower Corp
ELECTRONICS Semiconductor Equipment & Mate
BCDS BCD Semiconductor Manufacturin
BRKS Brooks Automation Inc
ENERGY Independent Oil & Gas
DPTR Delta Petroleum Corp
END Endeavor Intl Corp
ENERGY Major Integrated Oil & Gas
SC Shell Transport &Trading
ENERGY Oil & Gas Drilling & Explorati
CMLP Crestwood Midstream Partners L
EVEP EV Energy Partners LP
ENERGY Oil & Gas Equipment & Services
NTG Natco Group Incorporated
ENERGY Oil & Gas Pipelines
TZG Bear Stearns Dep Inc 7.125%
FINANCIAL SERVICES Asset Management
EVR Evercore Partners Inc
GBDC Golub Capital BDC Inc
FINANCIAL SERVICES Closed End Fund - Debt
BGX Blackstone/GSO Long-Short Cred
DTUL iPath US Treasury 2 Year Bull
FINANCIAL SERVICES Closed End Fund - Equity
AXHE iShares MSCI ACWI US Health Ca
AXSL iShares MSCI ACWI US Consumer
FINANCIAL SERVICES Closed End Fund - Foreign
BZF Brazil Fund Inc
DFJ WisdomTree Japan SmallCap Fund
FINANCIAL SERVICES Credit Services
CCRT Compucredit Corporation
NICK Nicholas Financial Inc
FINANCIAL SERVICES Diversified Investments
CCT Comcast Corp
ESSX Essex Rental Corp
FINANCIAL SERVICES Investment Brokerage - Regiona
GBL Gabelli Asset Management
FOOD & BEVERAGE Beverages - Brewers
HOOK Redhook Ale Brewery Inc
FOOD & BEVERAGE Confectioners
MFW M&F Worldwide Corp
FOOD & BEVERAGE Dairy Products
ADY American Dairy Inc
FOOD & BEVERAGE Farm Products
CVGW Calavo Growers Inc
FOOD & BEVERAGE Meat Products
HOGS Zhongpin Inc
PPC Pilgrim's Pride Corp
HEALTH SERVICES Health Care Plans
HNT Healthnet Inc
HEALTH SERVICES Hospitals
MGLN Magellan Health Services Inc
HEALTH SERVICES Medical Appliances & Equipment
ARTC Arthrocare Corp
MAKO MAKO Surgical Corp.
HEALTH SERVICES Medical Instruments & Supplies
ATRC AtriCure Inc
NURO Neuromatrix Inc
HEALTH SERVICES Medical Laboratories & Researc
IRWD Ironwood Pharmaceuticals Inc
HEALTH SERVICES Specialized Health Services
HGR Hanger Orthopedic Group
INSURANCE Accident & Health Insurance
AMSF Amerisafe Inc
RE Everest Re Group Ltd.
INSURANCE Insurance Brokers
AJG Arthur J. Gallagher & Co
INSURANCE Life Insurance
AGO Assured Guaranty Ltd
CIA Citizens Inc
INSURANCE Property & Casualty Insurance
AGII Argonaut Group Inc
AHL Aspen Insurance Holdings
INSURANCE Surety & Title Insurance
AGO.B Assured Guaranty Municipal Hol
TRH Transatlantic Hldgs
INTERNET Internet Information Providers
CRIC China Real Estate Info Corp
EXPE Expedia Inc
INTERNET Internet Software & Services
EXTR Extreme Networks Inc
MLNK CMGI Inc
LEISURE Gaming Activities
MNTG Mtr Gaming Group Inc
NCTY The9 Limited
LEISURE Resorts & Casinos
ASCA Ameristar Casinos Inc
LEISURE Restaurants
CAFE Host America Corp
DIN Dineequity Inc
LEISURE Sporting Activities
LTM Life Time Fitness
MANUFACTURING Diversified Machinery
GRB Gerber Scientific Inc
MANUFACTURING Farm & Construction Machinery
NC Nacco Industries Inc A
MANUFACTURING Industrial Electrical Equipmen
AETI American Electric Technology I
AONE A123 Systems Incorporated
MANUFACTURING Industrial Equipment & Compone
B Barnes Group Inc
CVVT China Valves Technology Incorp
MANUFACTURING Machine Tools & Accessories
FLOW Flow International Corp
NNBR Nn Inc
MANUFACTURING Metal Fabrication
HIHO Highway Holdings Limited
RT Ryerson Tull Inc
MANUFACTURING Small Tools & Accessories
MKTAY Makita Corp Spons Adr
MANUFACTURING Textile Manufacturing
IFSIA Interface Inc Cl A
MATERIALS & CONSTRUCTION General Building Materials
AMN Ameron Internat Corp
USLM U.S. Lime & Minerals Inc
MATERIALS & CONSTRUCTION Heavy Construction
AGX Argan` Inc.
CAVO Cavico Corporation
MATERIALS & CONSTRUCTION Lumber
UFPI Universal Forest Prodcts
MATERIALS & CONSTRUCTION Residential Construction
LEN.B Lennar Corp Cl B
MEDIA Advertising Services
VCLK Valueclick Inc
WPPGY Wpp Group Plc Adr
MEDIA Broadcasting - TV
FSCI Fisher Comms
SBGI Sinclair Broadcast Gp A
MEDIA CATV Systems
LNET Lodgenet Entertainment
MEDIA Entertainment - Diversified
KITD Kit Digital Inc
WWON Westwood One Inc
MEDIA Publishing - Books
NED Noah Education Holdings` Ltd.
METALS & MINING Aluminum
ACH Aluminum Corp China
KALU Kaiser Aluminum Corp
METALS & MINING Gold
BRD Brigus Gold Corp Ordinary Shar
MDW Midway Gold Corp
METALS & MINING Industrial Metals & Minerals
AUMN Golden Minerals Co
AZK Aurizon Mines Ltd
METALS & MINING Nonmetallic Mineral Mining
ARLP Alliance Rsrce Partners
CHGS China Gengsheng Minerals
METALS & MINING Silver
MVG Mag Silver Corp
METALS & MINING Steel & Iron
NWPX Northwest Pipe Co
SIM Grupo Simec S A Adr
REAL ESTATE Mortgage Investment
ATAX America First Tax-Ex Inv
CMO.A Capstead Mortgage Corp-Preferr
REAL ESTATE Property Management/Developmen
AQQ American Spectrum Realty
EMITF Elbit Medical Imaging
REAL ESTATE REIT - Diversified/Industrial
BDN.C Brandywine Realty Trust-Prefer
DDR Developers Diversified
REAL ESTATE REIT - Hotel/Motel
AHT.D Ashford Hospitality Holdings-P
BEE Strategic Hotels & resorts Inc
REAL ESTATE REIT - Office
ARE Alexandria Real Est Eqts
BMR BioMed Realty Trust Inc
REAL ESTATE REIT - Retail
HT.A Hersha Hospitality Trust-Prefe
RETAIL Catalog & Mail Order Houses
STMP Stamps.com Inc
RETAIL Discount
CPWM Cost Plus Inc California
RETAIL Electronics Stores
BBY Best Buy Co Inc
RETAIL Grocery Stores
CASY Casey's General Stores
RDK Ruddick Corp
RETAIL Home Improvement Stores
FAST Fastenal Company
GRIF Griffin Land&Nurseries
SPECIALTY RETAIL Apparel Stores
CHS Chico's Fas Inc
EXPR Express` Inc.
SPECIALTY RETAIL Sporting Goods Stores
HIBB Hibbett Sporting Goods
TELECOMMUNICATIONS Communication Equipment
ALA Alcatel - France Nyse
CRNT Ceragon Networks Ltd
TELECOMMUNICATIONS Diversified Communication Serv
ORBC Orbcomm Inc
TELECOMMUNICATIONS Long Distance Carriers
GNCMA General Communications A
TELECOMMUNICATIONS Processing Systems & Products
AV Avaya Inc
BDR Blonder Tongue Labs
TELECOMMUNICATIONS Telecom Services - Domestic
CBB Cincinnati Bell
TELECOMMUNICATIONS Wireless Communications
AMX America Movil
CHT Chunghwa Telecom
TRANSPORTATION Major Airlines
AMR Amr Corporation
TRANSPORTATION Railroads
CP Canadian Pacific Ltd
UNP Union Pacific Corp
TRANSPORTATION Regional Airlines
LUV Southwest Airlines Co
RJET Republic Airways
TRANSPORTATION Trucking
JBHT JB Hunt Transport Services
XPO Express-1 Expedited Solutions
UTILITIES Electric Utilities
DUK Duke Energy Corp
GXP Great Plains Energy
UTILITIES Foreign Utilities
CIG Companhia Energetica Mines
WHOLESALE Wholesale
MIC Macquarie Infrastructure
POOL Scp Pool Corp
--------------------------------------------
NEGATIVE LEIBOVIT VOLUME REVERSALS:
--------------------------------------------
.. CANADIAN STOCKS ... Canadian Stocks
ARX ARC RESOURCES LTD. EX
CJB CONJUCHEM INC
CRJ CLAUDE RESOURCES INC
CS.UN CAPSTONE MINING CO
MAI MINERA ANDES INC
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U.S. STOCKS:
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AEROSPACE/DEFENSE Aerospace/Defense Products & S
MOG.A Moog Inc Cl A
AUTOMOTIVE Auto Parts
STRT Strattec Security Cp
WMCO Williams Controls Inc
AUTOMOTIVE Recreational Vehicles
MPX Marine Products Corp
BANKING Money Center Banks
HBA.D HSBC USA Inc-Preferred
KEY.G KeyCorp-Preferred
BANKING Regional - Mid-Atlantic Banks
ANNB Annapolis National Bncp
BKSC Bank Of South Carolina
BANKING Regional - Midwest Banks
OSBC Old Second Bancorp Inc
OVBC Ohio Valley Banc Corp
BANKING Regional - Northeast Banks
ACFC Atlantic Coast Fed Corp
BNCL Beneficial Mutual Bancorp Inc
BANKING Regional - Pacific Banks
CWBC Community West Bancshrs
HTBK Heritage Commerce Corp
BANKING Regional - Southeast Banks
IBKC Iberiabank Corporation
BANKING Savings & Loans
CAFI Camco Financial Corp
CHEV Cheviot Financial Corp
CHEMICALS Agricultural Chemicals
MOS Mosaic Company
CHEMICALS Chemicals - Major Diversified
FMC Fmc Corp
CHEMICALS Specialty Chemicals
FSI Flexible Solutions Inc
LZ Lubrizol Corp
CHEMICALS Synthetics
AWC Alumina Limited
NL Nl Industries Inc
COMPUTER HARDWARE Data Storage Devices
STK Storage Technology Corp
COMPUTER SOFTWARE & SERVICES Application Software
ATEA Astea International Inc
COMPUTER SOFTWARE & SERVICES Information Technology Service
HDY HyperDynamics Corp
COMPUTER SOFTWARE & SERVICES Technical & System Software
CIMT Cimatron Ltd
CONSUMER DURABLES Business Equipment
NTE Nam Tai Electronics Inc
CONSUMER DURABLES Electronic Equipment
ATA Apogee Tech Inc
COBR Cobra Electronics Corp
CONSUMER DURABLES Home Furnishings & Fixtures
BSET Bassett Furniture Ind
CONSUMER DURABLES Toys & Games
RUS Russ Berrie & Co Inc
CONSUMER NON-DURABLES Packaging & Containers
BMS Bemis Co Inc
CONSUMER NON-DURABLES Paper & Paper Products
PKG Packaging Corp Of Amer
SWM Schweitzer Mauduit Internation
CONSUMER NON-DURABLES Rubber & Plastics
FORD Forward Industries Inc
DIVERSIFIED SERVICES Business/Management Services
CRAI Cra International Inc
FFI Fortune Diversified Industries
DIVERSIFIED SERVICES Consumer Services
HDSN Hudson Technologies Inc
STAN Standard Parking
DIVERSIFIED SERVICES Education & Training Services
ATAI Ata Inc.
DIVERSIFIED SERVICES Rental & Leasing Services
CFNB California First Natl Bancorp
DIVERSIFIED SERVICES Research Services
ARWR Arrowhead Research Corp
DIVERSIFIED SERVICES Security & Protection Services
PNTR Pointer Telocation Ltd Ord
DIVERSIFIED SERVICES Staffing & Outsourcing Service
CDI Cdi Corp
DIVERSIFIED SERVICES Technical Services
ENG Englobal Corp
VSR Versar Inc
DRUGS Biotechnology
AFFY Affymax Inc.
ANX Adventrx Pharmaceuticals Inc
DRUGS Diagnostic Substances
APPY AspenBio Pharma Inc
NEOG Neogen Corp
DRUGS Drug Delivery
KV-A Kv Pharmaceutical Cl A
DRUGS Drug Manufacturers - Major
SKBI Skystar Bio-Pharm Company
DRUGS Drug Manufacturers - Other
GENT Gentium SpA
ELECTRONICS Diversified Electronics
PHMD Photomedex Inc
VICR Vicor Corp
ELECTRONICS Printed Circuit Boards
IEC Iec Electronics Corp
MFLX Multi-fineline Electronix Inc
ELECTRONICS Scientific & Technical Instrum
A Agilent Technologies Inc
AMOT Allied Motion Tech Inc
ELECTRONICS Semiconductor - Integrated Cir
SMOD SMART Modular Technologies
ELECTRONICS Semiconductor - Specialized
IXYS Ixys Corporation
MEMS Memsic Inc
ENERGY Independent Oil & Gas
BRN Barnwell Industries Inc
CRK Comstock Resources Inc
ENERGY Major Integrated Oil & Gas
COP Conocophillips
ENERGY Oil & Gas Drilling & Explorati
BBG Bill Barrett Corp
CAK Camac Energy Inc
ENERGY Oil & Gas Equipment & Services
CAM Cooper Cameron Corp
DWSN Dawson Geophysical Co
ENERGY Oil & Gas Refining & Marketing
AHC Amerada Hess Corp
IOC Interoil Corporation
FINANCIAL SERVICES Asset Management
BTZ BlackRock Preferred and Equity
HRZN Horizon Technology Finance Cor
FINANCIAL SERVICES Closed End Fund - Debt
AOK iShares S&P Conservative Alloc
BABS SPDR Nuveen Barclays Capital B
FINANCIAL SERVICES Closed End Fund - Equity
AXEN iShares MSCI ACWI US Energy In
AXIT iShares MSCI ACWI US Informati
FINANCIAL SERVICES Closed End Fund - Foreign
BHK Blackrock Core Bond Trust
BRAF Global X Brazil Financials ETF
FINANCIAL SERVICES Credit Services
LOAN Dag Media Inc
MFI Microfinancial Inc
FINANCIAL SERVICES Diversified Investments
BPT Bp Prudhoe Bay Royal Tr
DOM Dominion Rsc Blck War Tr
FINANCIAL SERVICES Investment Brokerage - Nationa
BSC Bear Stearns Companies
LTS Ladenburg Thalmann Finl
FINANCIAL SERVICES Investment Brokerage - Regiona
KENT Kent Financial Services
FOOD & BEVERAGE Beverages - Wineries & Distill
BF.B Brown-forman Corp Cl B
FOOD & BEVERAGE Confectioners
RMCF Rocky Mountain Chocolate Facto
FOOD & BEVERAGE Farm Products
LMNR Limoneira Co
FOOD & BEVERAGE Food - Major Diversified
YUII Yuhe International Inc
HEALTH SERVICES Hospitals
TRI Triad Hospitals Inc
HEALTH SERVICES Medical Appliances & Equipment
IRIX Iridex Corp
NEOP Neoprobe Corp
HEALTH SERVICES Medical Instruments & Supplies
AIS Antares Pharma Inc
RVP Retractable Technologies Inc
HEALTH SERVICES Medical Laboratories & Researc
BIOC BioClinica Incorporated
HEALTH SERVICES Specialized Health Services
ESRX Express Scripts Inc
INSURANCE Property & Casualty Insurance
AHL.A Ashford Hospitality Holdings-P
KFS Kingsway Financial Svcs Inc
INSURANCE Surety & Title Insurance
ITIC Investors Title Co
INTERNET Internet Information Providers
BIDU Baidu.com Inc
LEDR Market Keader Inc
INTERNET Internet Software & Services
ABTL Autobytel Inc
ADAT Authentidate Holding Corp
LEISURE Gaming Activities
CPHC Canterbury Park Hldg Cp
LEISURE Lodging
RLH Red Lions Hotel Corp
LEISURE Restaurants
CHUX O'charley's Inc
COSI Cosi
LEISURE Sporting Activities
BWLA Bowl America Inc A
MANUFACTURING Diversified Machinery
DRC Dresser-Rand Group Inc
GRC Gorman-Rupp Co
MANUFACTURING Industrial Electrical Equipmen
POWL Powell Industries Inc
MANUFACTURING Industrial Equipment & Compone
HNH Handy & Harman Ltd
VPF Valpey Fisher Corp
MANUFACTURING Small Tools & Accessories
EML Eastern Co
MANUFACTURING Textile Manufacturing
HWG Hallwood Group Inc
MATERIALS & CONSTRUCTION General Building Materials
CRR Carbo Ceramics Inc
MATERIALS & CONSTRUCTION Heavy Construction
GLBL Global Industries Ltd
ORN Orion Marine Group Inc
MATERIALS & CONSTRUCTION Waste Management
EEI Ecology & Environment A
GPRC Guanwei Recycling Corp
MEDIA Broadcasting - Radio
ROIA Radio One Inc
SBSA Spanish Brdcstng Sys A
MEDIA CATV Systems
NETC Globo Cabo Sa Adr
MEDIA Publishing - Periodicals/News
SPRO Smartpros Ltd
METALS & MINING Aluminum
CENX Century Aluminum Company
METALS & MINING Copper
FCX Freeport Mcmoran C&G B
METALS & MINING Gold
CGR Claude Resources Inc
NXG Northgate Minerals Corp
METALS & MINING Industrial Metals & Minerals
AAU Almaden Minerals Ltd
BTU Peabody Energy
METALS & MINING Nonmetallic Mineral Mining
HWD Harry Winston Diamond Corp
NGD New Gold Inc
REAL ESTATE Mortgage Investment
IVR Invesco Mortgage Capital Incor
REAL ESTATE Property Management/Developmen
GYRO Gyrodyne Co Amer Inc
MAYS J.W. Mays Inc
REAL ESTATE REIT - Diversified/Industrial
ABR Arbor Realty Trust Inc
CUZ.B Cousins Properties Inc-Preferr
RETAIL Discount
TUES Tuesday Morning Corp
RETAIL Grocery Stores
BSI Blue Square Israel Ltd
QKLS Qkl Stores Inc
RETAIL Home Furnishing Stores
HVT Haverty Furniture Cos
SPECIALTY RETAIL Specialty Retail
FCFS First Cash Financial Svc
TELECOMMUNICATIONS Communication Equipment
AWRE Aware Inc
DITC Ditech Communications Cp
TELECOMMUNICATIONS Diversified Communication Serv
GLBC Global Crossing Ltd
XFN Xfone Inc
TELECOMMUNICATIONS Processing Systems & Products
LVLT Level 3 Communications
TELECOMMUNICATIONS Telecom Services - Domestic
CBB.B Cincinnati Bell Inc-Preferred
TELECOMMUNICATIONS Telecom Services - Foreign
CEL Grupo Iusacell Sa De Cv
TRANSPORTATION Air Services
BRS Bristow Group Inc
TRANSPORTATION Shipping
CKH Seacor Holdings Inc
HRZ Horizon Lines Inc
UTILITIES Electric Utilities
AEP.A American Electric Power Ct
D Dominion Resources Inc
UTILITIES Gas Utilities
EQT Equitable Resources Inc
TRGP Targa Resources Corp
WHOLESALE Auto Parts Wholesale
CRV Coast Distribution Systs
WHOLESALE Computers Wholesale
GTSI Gtsi Corporation
WSTG Wayside Technology Group Inc
WHOLESALE Food Wholesale
WILC G. Willi-Food International Lt
