20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Tuesday, May 22, 2012
This is your Benzinga news summary and trader's outlook covering headlines from overnight and today's pre-market session.
Benzinga's Top News
Domestic Pre-Market Trading
- U.S. Equity Markets trade lower as Dow futures trade down about 11 points.
- U.S. Dollar trades about 0.26% higher.
To see more pre-market news, click here.
Overseas Trading
- European markets are higher in afternoon trading. Britain's FTSE 100 jumped 1.01%, Germany's DAX added 0.73% and France's CAC 40 advanced 0.88% on the session.
- Asian stocks ended the session higher as well. China's Shanghai added 1.09%, Japan's Nikkei 225 advanced 1.10%, and Hong Kong's Hang Seng gained 0.62%.
- Fitch Downgrades Japan to 'A+' From 'AA'; Outlook Negative
To see more overseas news, click here.
Upgrades/Downgrades
- Needham Upgrades EnerNOC (NASDAQ: ENOC) from Hold to Buy, Announces PT of $7.5
- Goldman Sachs Upgrades Manitowoc (NYSE: MTW) from Neutral to Buy, Lowers PT from $17 to $15
To see more of today's upgrades, click here.
- Piper Jaffray Downgrades Lowes (NYSE: LOW) from Overweight to Neutral, Lowers PT from $41 to $28
To see more of today's downgrades, click here.
On the Economic Calendar
- 08:55 a.m. ET - Redbook (MoM)
- 10:00 - Richmond Manufacturing Index
- 10:00 - Existing Home Sales
- 11:30 - 4-Week Bill Auction
- 13:00 - 2-Year Note Auction
To see more economic news, click here
Earnings
- AutoZone (NYSE: AZO) Reports Q3 EPS $6.28 vs $6.25 Est; Revenues $2.11B vs $2.13B Est
- Medtronic (NYSE: MDT) Reports Q4 EPS $0.99 vs $0.98 Est; Revenues $4.3B vs $4.23B Est
- DSW (NYSE: DSW) Reports Q1 EPS $0.98 vs $0.90 Est; Revenues $558.6M vs $548.09M Est
- Williams-Sonoma (NYSE: WSM) Reports Q1 EPS $0.34 vs $0.32 Est; Revenues $817.6M vs $811.73M Est
To see more earnings announcements, click here.
Corporate News
- Salesforce.com (NYSE CRM) Sees Tremendous Growth Across Europe, Increases Local Investment, to Add 750 New Jobs
To see more corporate news, click here.
Commodities
- Precious metals are trading lower, with gold posting early losses of about 0.65%
- Energy futures are trading lower, with crude oil posting early losses of about 0.32%
- Natural Gas futures are trading 0.46% higher and copper is trading lower by about 0.34%
To see more commodities news, click here.
Benzinga's Morning Radar
Technical Levels for Futures and Forex| Name | Resistance-2 | Resistance-1 | Mid Pivot | Support-1 | Support-2 |
| E-Mini S&P 500 | 1330 | 1323 | 1308 | 1301 | 1286 |
| Gold | 1606 | 1599 | 1591 | 1584 | 1577 |
| Crude | 94.25 | 93.57 | 92.97 | 91.99 | 91.09 |
| Natural Gas | 2.80 | 2.72 | 2.65 | 2.58 | 2.51 |
| EUR/USD | 1.2887 | 1.2851 | 1.2788 | 1.2751 | 1.2688 |
| US Dollar Index | 81.75 | 81.41 | 81.22 | 80.88 | 80.68 |
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20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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