THE DAILY BRIEF

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Tuesday 12.08.2009

CURRENT MARKET SENTIMENT

The indices struggled to finish flat at sovereign debt default. Once again, would
10390 (Dow) and 1103 (S&P). With no investors shake off the news as the first
expected economic data, except for the news of Dubai? Technically, the S&P must
President’s commentary on Jobs, the hold at 1096 in order to have a chance to
futures are pointing south due to further end the week on a positive note.

PRISM CALL

Market sold off hard due to fear of more sovereign nation default. Gold and oil are down
nicely as well. The anomalies are to buy the lows for a quick bounce. The next low is 1091. If
that holds, 1091 -1096 will be the demarcation line. Be a buyer of the first move.

ECONOMIC CALENDAR INDU & SPUZ TECHNICALS

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

NO ECONOMIC NUMBERS TODAY! INDU

10315 10347 10398 10449 10481
(DOW)
SPUZ
(S&P) 1095 1099 1105 1111 1115

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 FOREIGN MARKETS NEWS

WLL Whiting Petroleum

MARKET PRICE
 %
announces completion of discovery
well at its Lewis & Clark prospect
FTSE 5218.75 91.91 -1.73
flowing at initial rate of 1,970
DAX 5663.03 121.72 -2.1 BOE/D (65.00 )

HANG SENG 22060.52 264.44 -1.18 SEC probing high-frequency

strategies - Reuters.com
NIKKEI 10140.47 27.13 -0.27

AIG American Intl: Feinberg said

CHINA 3296.664 35.233 -1.06 to lift $500,000 salary limit for AIG
executives - Bloomberg.com
(30.17 )
DOW STOCKS TO WATCH COMMODITY PRICES
Fitch downgrades Greece to BBB+;
STRONG WEAK COMMODITY PRICE
 Outlook negative

BA DD European market summary; shares

OIL 73.21 0.72 trade lower led by banks: FTSE -
KO HPQ 1.19%, CAC -1.08%, DAX -1.29%
WMT IBM
GOLD 1154.6 9.40 UAE stock markets continue to
UTX XOM slump on Dubai World concerns –
Xinhua

UK House prices rise in November

UPGRADES & DOWNGRADES – Reuters

UK manufacturing output flat in

STOCKS UPGRADED
October – AP
BROKERAGE
COMPANY RATINGS CHANGE PRICE TARGET
FIRM
German industrial production slips
Underweight >> Market
Suntech Power (STP) Thomas Weisel 17.05 back – BBC
Weight
Underweight >> Market
JA Solar (JASO) Thomas Weisel 4.95 Dubai official confuses mkt over
Weight
Dubai World support – DJ
M&T Bank (MTB) SunTrust Neutral >> Buy 61.43 85
Japan unveils $81 bln stimulus,
Underweight >> Equal
Forest Oil (FST) Morgan Stanley 19.17 limited impact seen – Reuters
Weight
Ericsson (ERIC) HSBC Neutral >> Overweight 9.55 Banks, U.S. spar over TARP
repayment – WSJ

NEWS Airlines appear headed for recovery

– WSJ
Moody's announces further downgrades to Dubai Inc. corporates
Moody's puts U.S., U.K. on
Meredith Whitney on CNBC says she's bearish now because the govt has been chopping block – WSJ
supporting the capital markets, and they are out of bullets
China seeing V-shaped recovery,
Meredith Whitney says TARP repayment makes it clear the govt needs money Central Bank Deputy says -
Reuters.com

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 EARNINGS

TEL Tyco Electronics expects Q1 results to be at high end of prior outlook range; sees EPS of
$0.35-$0.39 vs $0.38 First Call consensus

CELG Celgene: MM-015 results finally revealed and impress - Merriman (55.53 )

MMM 3M reaffirms FY09 guidance; sees FY10 revs above consensus and FY10 EPS in-line
(77.91 )

AZO AutoZone beats by $0.16, reports revs in-line (153.36 )

EQR FBR Capital is introducing 2011 and 2012 FFO and AFFO estimates commercial and
apartment REITs, and downgrading BXP, BMR, and upgrading AVB and EQR

HRB H & R Block beats by $0.02, misses on revs; reaffirms FY10 EPS in-line

U.S. Chain store sales declined 1.27% in Dec 5 week vs -0.1% in prior week, according to
ICSC/Goldman Sachs

KIM Kimco Realty announces 25 mln share common stock offering (13.08 -0.51)

FDX FedEx expects to exceed Q2 earnings guidance

KR Kroger misses by $0.10, reports revs in-line; guides FY10 EPS below consensus (22.85 )

IRF Intl Rectifier sees Q2 revs tracking toward high end of previous guidance of $185-200 mln
vs the $193 mln First Call consensus (20.30 )

MCD McDonald's announces global comparable sales increased 0.7% in November (61.93 )

APC Anadarko Petro: Kosmos Energy announces that the Odum-2 appraisal well confirmed
the its Odum oil discovery (58.27 )

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 TECHNICAL ANALYSIS

Symbol S7 S6 S5 S4 S3 S2 S1 PIVOT R1 R2 R3 R4 R5 R6 R7
Sectors
SPX 1085.15 1088.93 1091.27 1095.04 1098.82 1099.99 1101.15 1104.93 1108.72 1109.88 1111.05 1114.82 1118.60 1120.94 1124.71
INDU 10231.86 10263.56 10283.14 10314.84 10346.54 10356.33 10366.08 10397.82 10429.56 10439.31 10449.10 10480.80 10512.50 10532.08 10563.78
NDX 1750.60 1757.53 1761.82 1768.76 1775.69 1777.84 1779.97 1786.92 1793.86 1796.00 1798.14 1805.08 1812.01 1816.30 1823.24
XBD 110.02 110.80 111.28 112.06 112.84 113.08 113.32 114.10 114.88 115.12 115.36 116.14 116.92 117.40 118.18
BKX 41.79 42.16 42.39 42.76 43.13 43.25 43.36 43.73 44.10 44.22 44.33 44.70 45.07 45.30 45.67
TRAN 3975.34 3993.65 4004.96 4023.28 4041.59 4047.25 4052.88 4071.22 4089.55 4095.19 4100.84 4119.16 4137.47 4148.78 4167.10
OIX 663.19 666.12 667.93 670.86 673.79 674.70 675.60 678.53 681.47 682.37 683.27 686.20 689.13 690.94 693.87
OSX 178.87 180.26 181.12 182.51 183.90 184.33 184.75 186.15 187.54 187.97 188.40 189.79 191.18 192.04 193.43
XNG 484.53 487.95 490.06 493.49 496.91 497.97 499.02 502.45 505.87 506.93 507.98 511.41 514.83 516.94 520.37
CYC 782.97 786.58 788.82 792.44 796.05 797.17 798.28 801.91 805.53 806.64 807.76 811.38 814.99 817.23 820.85
UTY 402.73 404.77 406.04 408.08 410.12 410.76 411.38 413.43 415.48 416.11 416.74 418.78 420.82 422.09 424.13
DRG 303.91 305.11 305.86 307.06 308.26 308.64 309.01 310.21 311.41 311.79 312.16 313.36 314.56 315.31 316.51
RLX 400.28 401.73 402.62 404.07 405.52 405.97 406.41 407.86 409.31 409.76 410.20 411.65 413.10 413.99 415.44

Tradeables

SPY 108.87 109.27 109.52 109.91 110.31 110.43 110.56 110.95 111.35 111.47 111.60 111.99 112.39 112.64 113.03
DIA 102.41 102.73 102.93 103.25 103.57 103.67 103.77 104.09 104.41 104.51 104.61 104.93 105.25 105.45 105.77
QQQQ 43.07 43.25 43.36 43.54 43.72 43.77 43.83 44.01 44.19 44.24 44.30 44.48 44.66 44.77 44.95
QLD 52.53 52.97 53.24 53.69 54.13 54.27 54.40 54.85 55.29 55.43 55.56 56.01 56.45 56.73 57.17
IWM 59.03 59.31 59.48 59.76 60.04 60.12 60.21 60.49 60.77 60.85 60.94 61.22 61.50 61.67 61.95
OIH 109.88 110.82 111.40 112.34 113.28 113.57 113.86 114.80 115.74 116.03 116.32 117.26 118.20 118.78 119.72
XLE 53.89 54.27 54.51 54.89 55.27 55.39 55.51 55.89 56.27 56.39 56.51 56.89 57.27 57.51 57.89
FAZ 17.81 18.23 18.49 18.91 19.33 19.46 19.59 20.01 20.43 20.56 20.69 21.11 21.53 21.79 22.21
FAS 64.61 66.24 67.25 68.89 70.52 71.03 71.53 73.17 74.80 75.31 75.81 77.45 79.08 80.09 81.73
SRS 7.33 7.49 7.59 7.74 7.90 7.95 8.00 8.15 8.31 8.36 8.41 8.56 8.72 8.82 8.97
SDS 34.55 34.80 34.96 35.21 35.46 35.54 35.62 35.87 36.12 36.20 36.28 36.53 36.78 36.94 37.19
USO 36.23 36.50 36.67 36.94 37.21 37.29 37.38 37.65 37.92 38.00 38.09 38.36 38.63 38.80 39.07
SKF 22.92 23.27 23.49 23.84 24.19 24.30 24.41 24.76 25.12 25.22 25.33 25.68 26.03 26.25 26.60

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