Avandia exposes patients to greater health risks...

GlaxoSmithKline Plc. (GSK). The drugmaker’s Avandia diabetes drug exposed patients to greater health risks including heart attacks, and even death, the WSJ said on Friday, citing a U.S. Food and Drug Administration scientist's study.

They keep trying to knock Apple down...

Apple Inc. (AAPL). The Federal Bureau of Investigation has opened a probe into a security breach of Apple’s iPad that exposed personal information of AT&T Inc (T) customers, including those of several high-ranking government officials.

Thursday's Market Breadth....Decisively Positive..

10 am update

At 10:10 am:

Dow +19
Nas -7
S&P +1.66

This is a key day as we need to stop this recent slide.  We are way overdone, but as of yet, no investors are willing to step in and Buy.

Analyst Upgrades and Downgrades...

Altera Corp. (ALTR) price target cut to $26.60 from $31.70; rating outperform at Macquarie


• Amazon.com Inc. (AMZN) price target cut to $150 from $155 at BofA Merrill

• Baker Hughes Inc. (BHI) price target cut to $47 from $61; rating cut to market perform from outperform at FBR

• Diamond Offshore Drilling (DO) rating cut to sell from neutral at Goldman Sachs

• eBay Inc. (EBAY) price target cut to $27 from $28 at BofA Merrill

• Ensco Plc. (ESV) price target cut to $55 from $63 at FBR

• Expedia Inc. (EXPE) price target cut to $29 from $30 at BofA Merrill

• Google Inc. (GOOG) price target cut to $630 from $685 at BofA Merrill

• Halliburton Co. (HAL) price target to $38 from $44 at FBR

• Nabors Industries (NBR) rating raised to buy from neutral at Goldman Sachs

• Noble Corp. (NE) rating cut to neutral from buy at Goldman Sachs

• Rowan Companies Inc. (RDC) price target cut to $24 from $26 at FBR

• Schlumberger (SLB) price target cut to $85 from $96 at FBR

• Yahoo (YHOO) price target cut to $20 from $21 at BofA Merrill

NY & Co. trims forcasts...

New York & Co. Inc. (NWY). The women's apparel chain on Monday widened its second-quarter loss outlook and also said it now expects about flat same-store sales for the second-quarter, compared with a rise in comparable-store sales it forecast last month.

First Solar responds to high demand in Europe...

First Solar Inc. (FSLR). The world's lowest-cost photovoltaic solar manufacturer on Tuesday said it plans to double production capacity at its German plant in Frankfurt an der Oder, to cater to strong European demand. The company said it is in advanced talks with German authorities to obtain the regulatory permits and financial framework for the expansion.

Earnings Expected Today....

• Bob Evans Farms Inc. (BOBE). Expected to report Q4 earnings of 63 cents a share, according to Thomson Reuters I/B/E/S

• Pall Corp. (PLL). Expected to report Q3 earnings of 50 cents a share

• Take Two Interactive Software Inc. (TTWO). Expected to report Q2 earnings of 27cents a share

• Talbots Inc. (TLB). Expected to report Q1 earnings of 16 cents a share

• Texas Instruments Inc. (TXN). Expected to report Q2 earnings of 61 cents a share

US Dollar ETF....

The other place to hide...

Here's a nice chart....Natural Gas...

This makes alot of sense as there will undoubtedly be a push toward "cleaner" fuels after the Gulf dissaster. 

You know it's a bad market when....

No real surprises, as Apple's (AAPL -0.9%) new iPhone 4, introduced today, boasts a thinner design with 100 new features, including video chat, a front-facing camera and better battery life. Steve Jobs: "Beyond a doubt, the most precise thing and one of the most beautiful things we’ve ever made."

Market Breadth is getting ugly, however Volume has been low compared to recent past.  This means there are clearly no buyers around.

I don't like Mondays....

Market recap: Stock losses accelerated after a new report showed continued weakness in borrowing among U.S. consumers. It was all the excuse needed in this shaky market to send shares reeling to session lows. Decliners routed advancers on the NYSE by about four to one.

At the close:

Dow -1.16% to 9816.
S&P -1.35% to 1050.
Nasdaq -2.04% to 2174.

Wellpoint has been rising on takeover speculation.  It may be tough for it to move much as it has alot of overhead reisitance to break thru.

We were stopped out of Encore Capital at $19.30 on Friday. 

Same story with VMware.

Akamai continues to move higher in a poor market.  Once again the stock was higher early on Friday then succombed to the pressure late.  Good looking stock.

Stocks on sale....

Salesforce.com made a new high intraday, but sold off late to close right at its previous breakout level below $90.

Selling Overblown....

After a somewhat weaker jobs report, traders sent the market much lower today.  To me the selling was not justified, it seemed more like a panic selloff.  We are now back at the level we saw in the "flash crash" last month.
The selloff gives some discount prices to enter some leading stocks in here. Over the weekend, I'll give you some stocks to look at.  Have a nice weekend.

How bad is this Oil Spill...

The general consensus that the BP (BP) oil spill is the worst-ever environmental disaster is "wildly overblown," a University of Alabama professor says. The amount spilled is tiny in comparison to the amount spilled by rigs and tankers around the world every year, he says, and it's not even the worst spill ever in the Gulf of Mexico.