THE DAILY BRIEF

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Phone: (561) 922-5266 • Fax: (561) 623-6235
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Wednesday 12.09.2009

CURRENT MARKET SENTIMENT

Sovereign Debt Default shook the market range bound. The downside is constrained by
down and the indices finished at 10286 (Dow) the kiss of death and the upside by limited
and 1092 (S&P), above the kiss of death. It is economic numbers and events.
back to business as usual, the market may be

PRISM CALL

Market is trading up and will probably remain up all day. Fund managers need to protect there up
year and we closed at the breakeven point for the month. Look for strength in oil and a possible
bounce in gold. Keep in mind that volume is lower than average and profits need to be taken when
available.

ECONOMIC CALENDAR INDU & SPUZ TECHNICALS

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

10:00 Wholesale -1.0% to -0.5% -0.9% INDU

am Inventories 0.3% 10171 10223 10307 10391 10441
(DOW)
SPUZ
10:30 US Crude Oil -900K to 750K 2091K
am Inventories 2700K
(S&P) 1080 1086 10307 11103 1109

10:30 US Gasoline 0K to 1675K 3996K

am Inventories 2800K

10:30 US Distillate -1700K -775K -1170K

am Inventory to 1000K

10:30 US Refinery 0.00% to 0.25% -0.59%

am Utilization 0.50%

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 FOREIGN MARKETS NEWS

%
Former BOE official Buiter says
MARKET PRICE

Greece may be first EU default -
FTSE 5223.96 0.83 0.02 Bloomberg.com
DAX 5676.65 11.93 -0.21 SWY Safeway added to Short-
HANG SENG 21741.76 318.76 -1.44 Term Sell List at UBS (20.91 )

NIKKEI 10004.72 135.75 -1.34 Adviser to G20 Presidency

warns some of Europe's biggest
CHINA 3239.568 57.096 -1.73 banks have yet to "come clean"
- Daily Telegraph
DOW STOCKS TO WATCH COMMODITY PRICES
US Senator Shelby says deal on
financial regulation rewrite
STRONG WEAK COMMODITY PRICE
 unlikely this year - Reuters.com
JNJ AA
OIL 73.52 0.90 Dubai debt confusion, Nakheel
KO DD dent confidence - Reuters.com
PG MCD
GOLD 1143.6 0.20 HBC HSBC Holdings, 3 other
WMT TRV UK banks agree to reschedule
Dubai debt, report says - DJ
(57.12 )

UPGRADES & DOWNGRADES European market summary:

FTSE flat ahead of UK pre-
STOCKS UPGRADED budget report: FTSE +0.18%,
BROKERAGE CAC +0.19%, DAX +0.19%
COMPANY RATINGS CHANGE PRICE TARGET
FIRM
Sprint Nextel (S) Citigroup Buy 3.91 5.50 TXN Texas Instruments: Color
on mid-qtr update (26.33 )
Kroger (KR) UBS Buy >> Neutral 20.13 22
Deutsche Bank notes yesterday
3M (MMM) Citigroup Hold >> Buy 77.11 after the close TXN provided a
solid 4Q mid-qtr update
CA (CA) Deutsche Bank Hold >> Buy 21.91 22 > 28 increasing the mid-pt of its rev
guidance and raising the high-
STOCKS DOWNGRADED
end of its EPS guidance
BROKERAGE
COMPANY
FIRM
RATINGS CHANGE PRICE TARGET (implying margin upside).
Kimberly-Clark While firm views this revision
Barclays Equal-weight – Underweight 64.91 68 >> 66 as a positive (especially on
(KMB)
margins), the magnitude
generally met expectations and
therefore expect the share price
reaction to be muted.

Two major publishers to hold

back e-books – WSJ

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 NEWS & EARNINGS

MOV Movado Group misses by $0.53, misses on revs, lowers FY10 EPS guidance (10.85 )

Greek govt assurances leave markets unimpressed – DJ

Obama to extend bailout fund - Reuters.com

China to tighten policy to curb property speculation – DJ

ECONX MBA Mortgage Applications +8.5% vs +2.1% Prior

Asia markets close; Nikkei falls on revised GDP data, strong yen: Nikkei -1.34%, Shanghai Composite -
1.73%, Hang Seng -1.44%, Sensex -0.59%

Japan GDP revised heavily downward - Financial Times

Senators strike health deal – WSJ

TECHNICAL ANALYSIS

Symbol S7 S6 S5 S4 S3 S2 S1 PIVOT R1 R2 R3 R4 R5 R6 R7
Sectors
SPX 1065.67 1071.18 1074.59 1080.10 1085.61 1087.32 1089.01 1094.53 1100.05 1101.75 1103.45 1108.96 1114.47 1117.88 1123.39
INDU 10035.53 10087.41 10119.46 10171.34 10223.22 10239.25 10255.21 10307.15 10359.10 10375.06 10391.08 10442.96 10494.84 10526.89 10578.77
NDX 1722.85 1732.47 1738.41 1748.03 1757.65 1760.62 1763.58 1773.21 1782.84 1785.80 1788.77 1798.39 1808.01 1813.95 1823.57
XBD 109.08 109.75 110.17 110.85 111.52 111.73 111.94 112.62 113.29 113.50 113.71 114.39 115.06 115.48 116.16
BKX 42.14 42.39 42.54 42.80 43.05 43.13 43.20 43.46 43.71 43.79 43.86 44.12 44.37 44.52 44.78
TRAN 3947.39 3967.73 3980.30 4000.64 4020.98 4027.27 4033.53 4053.89 4074.26 4080.52 4086.80 4107.14 4127.48 4140.05 4160.39
OIX 637.85 643.54 647.06 652.74 658.43 660.19 661.94 667.63 673.33 675.08 676.84 682.52 688.21 691.73 697.41
OSX 170.79 172.97 174.31 176.49 178.67 179.34 180.01 182.19 184.37 185.04 185.71 187.89 190.07 191.41 193.59
XNG 473.37 477.48 480.02 484.13 488.24 489.51 490.78 494.89 499.01 500.27 501.54 505.65 509.76 512.30 516.41
CYC 768.40 773.27 776.27 781.14 786.01 787.51 789.01 793.88 798.75 800.25 801.75 806.62 811.49 814.49 819.36
UTY 402.05 403.95 405.12 407.02 408.92 409.51 410.09 411.99 413.89 414.48 415.06 416.96 418.86 420.03 421.93
DRG 300.65 301.91 302.69 303.95 305.21 305.60 305.99 307.25 308.51 308.90 309.29 310.55 311.81 312.59 313.85
RLX 390.47 393.06 394.67 397.26 399.85 400.66 401.45 404.05 406.65 407.45 408.25 410.84 413.43 415.04 417.63

Tradeables

SPY 107.75 108.12 108.36 108.73 109.10 109.22 109.34 109.71 110.08 110.20 110.32 110.69 111.06 111.30 111.67
DIA 99.33 99.98 100.37 101.02 101.67 101.87 102.06 102.71 103.36 103.56 103.75 104.40 105.05 105.44 106.09
QQQQ 42.39 42.63 42.78 43.03 43.27 43.35 43.42 43.67 43.91 43.99 44.06 44.31 44.55 44.70 44.95
QLD 50.38 51.06 51.48 52.16 52.84 53.05 53.26 53.94 54.62 54.83 55.04 55.72 56.40 56.82 57.50
IWM 57.78 58.20 58.46 58.87 59.29 59.42 59.55 59.96 60.38 60.51 60.64 61.05 61.47 61.73 62.14
OIH 105.59 106.77 107.50 108.68 109.86 110.22 110.58 111.77 112.95 113.31 113.68 114.86 116.04 116.77 117.95
XLE 52.90 53.29 53.53 53.92 54.31 54.43 54.55 54.94 55.33 55.45 55.57 55.96 56.35 56.59 56.98
FAZ 19.59 19.80 19.92 20.12 20.33 20.39 20.45 20.65 20.86 20.92 20.98 21.18 21.39 21.51 21.71
FAS 67.03 67.75 68.20 68.92 69.64 69.87 70.09 70.81 71.53 71.76 71.98 72.70 73.42 73.87 74.59
SRS 7.55 7.68 7.76 7.89 8.02 8.06 8.10 8.23 8.36 8.40 8.44 8.57 8.70 8.78 8.91
SDS 35.37 35.62 35.77 36.01 36.26 36.33 36.41 36.65 36.90 36.97 37.05 37.29 37.54 37.69 37.93
USO 36.02 36.20 36.31 36.48 36.66 36.71 36.77 36.94 37.12 37.17 37.23 37.40 37.58 37.69 37.86
SKF 24.34 24.52 24.63 24.81 24.99 25.05 25.10 25.28 25.46 25.52 25.57 25.75 25.93 26.04 26.22

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