Media Alert – I will be joining host Charles Payne on Fox Business this morning, Varney & Company. Hit time is 9:30 AM EST. (Below is a link to Wednesday’s CNBC appearance at the NYSE)
Upgrades/Downgrades – There will be little action from the research departments of the major houses today.
Retail – Does Black Friday really matter anymore? It seems more and more people are kicking off the holiday season on Thanksgiving. Kmart has been opening on the holiday for years but now everyone is jumping on the bandwagon. Most mega stores like WMT and TGT are open by 8 PM and others like GameStop at 12 Midnight. I mention GameStop (GME) only because I’ve been trying to get a Sony (SNE) PlayStation 4 for the last 3 days. I last went just before closing time Wednesday at the store in Port Chester NY. The young sales girl told me they wouldn’t have any until Black Friday. I asked her if they would be getting a shipment on Thanksgiving Day. She said, “No.” I said. “Then they are in the basement right now. Come on, break the rules.” She was charming but I didn’t walk out with a unit.
China / Japan / US – The skies are getting crowded over the Senkaku Islands. China and Japan both claim sovereignty and have put military assets in the region. Tuesday the U.S. sent 2 B-52 bombers into the region in defiance of the establishment of a new Air Defense Zone. Our international managers say this needs to be watched. A lot of aircraft making challenges in a confined area can lead to mistakes forcing bad policy decisions. It looks like everyone’s air defense zones are overlapping. In the end this is about the assets under the East China Seas. I believe China is trying to up their influence in the region while at the same time strengthen their position at the bargaining table.
ADM / Glencore Xstrata deal blocked – I will be looking into the reaction in ADM shares this morning. This stock has jumped in the ranks of the Alpha Select models but I missed the run in the stock. (Not involved yet)
Funds managed by David Nelson currently do not own any of the stocks mentioned in this report.
