Thursday Morning, August 9th

   Dow Stock News

American International Group (AIG) the world's largest insurance company, said quarterly net income grew due to higher insurance premium revenue. - CNBC

Reuters reports that Wal-Mar (WMT) will use Facebook to improve its back to school sales.

The WSJ says GM (GM) and Toyota (TM) have cut their forecasts for industry sales this year.

AA Alcoa Friedman Billings Upgraded from Mkt Perform to Outperform $49

   Ice Man Stocks

Breakouts the Ice Man may consider trading:

ACL - 146

Regular Trades the Ice Man may consider:

BTJ - 42.50
IDSY - 12
MVSN - 24.80 * Bet Bet
RACK - 13.45
CVTX - 10 = 10.65 G
ZMH - 80 B
USG - 43.50
CC - 11.40
SYK - 69

Depressed stocks the Ice Man may buy:

LEAP - 57
BOBJ - 42.25
AVCI
IIVI - 25.50 G
IVGN - 71.10

Dollar Man Ideas:

Extended Shorts:

DCI - 44

   Media Commentators

Cramer's Comments:

Bullish: LVLT, CSCO, KO, PEP, VFC

   Ice Cold Commentators

Break Man Video Summary:

Break out buy watch list for short term gains  August 9 includes: GES, GME, MPEL, DAKT, CVS, ALTR, ABX, MSCC, DISCA, MOS.
Several candidates for break out or pullback  plays for at least short term gains by buying the break out on good volume and selling at least some on the  first day. http://stocktiger.com

Swing Man Market Recap:

The following sectors look shortable:

Brokers, Banks, Homebuilders, and some Real Estate Groups.  The magnitude of this problem is much larger than Bear Stearns, etc.  This morning BNP Paribas is the next shoe to drop - there will be more since the size of this problem is at least $500 Billion.

From a technical standpoint, we are rallying up in a minor "b" wave, and this should be followed over time by a minor "c" wave correction, which should take us to new lows by the end of this month. There is currently negative RSI divergence (see yellow 60 minute chart below) on the SPX near resistance thus it's not surprising that the market would reverse down from these levels.  Last the markets are playing ping pong between support of the 200 day moving averages below and the resistance of the 20/50 day moving averages above.

   CNBC Fast Money Review

1. CRAZY FINISH BUT COMEBACK CONTINUES

  The headline: Another Day Of Volatile Trading As The Dow Finishes With A Gain Of 153 Points.
  Adami: Feels that tech is leading this market. Likes JNPR and HPQ.
  Dylan Ratigan: Exlains CSCO Chief John Chambers said the global economy is the strongest he's seen.
  Najarian likes CSCO as well as KO which reached its 52 week high on Wednesday.
  Bolling:  The market is jittery. Believes when CNBC dispelled a rumor involving GS, the market turned higher.
  
2. BUFFETT THROWS HIS FREIGHT AROUND:

  The headline:  Rail Shares Jump After Buffett's BRK Raises Stake In BNI.
  Adami: Don´t buy BNI at this level. Feels there will be an entry point.
  Najarian: Feels differently. He thinks Buffet has set a level and investors can safely enter the rail stocks.
  
3. The Top 3

   1.Countdown To Beijing Games

  It's officially one year to the Beijing Olympics The games are not only a cultural phenomenon for China - they are a business phenomenon, too. In fact, the Chinese government is spending $40 billion on infrastructure in the ramp-up to the games.
  Adami:  The play is owning CHL, PTR and CAT until the start of the Olympics.
  Bolling: Recommends buying the China 25 Index (FXI).
  Najarian: Likes JOBS a Chinese employment company.

   2. Melanoma Miracle

  The traders noticed a move today in shares of MEDX, a biotech firm  that's developing a skin cancer treatment.
  Najarian: says he doesn´t know why the stock moved. The only thing he can come up with is a report from July 25th which talks about the miraculous effect of their drug MDX010. The report suggests the drug cures melanoma. However, it´s still in clinical trials. BMY also moved up and they are partnered with MEDX in the making of this skin cancer drug.
  Bolling: Doesn´t believe it. Says if there was a drug that cures melanoma; the stock would be up 9000%.

   3. Polo Falls Off Horse

  The Polo player was thrown off his horse Wednesday. Shares of RL dropped 13% as sales disappointed Wall Street
  Macke: Thinks some companies that cater to the rich are smart trades. Likes COH on the current dip. Also likes TIF and SKS.

4. BLACKSTONE:

  The headline:  BX Closes World's Largest Buyout Fund At $21.7B
  Bolling: Suggests to him that private equity money remains in tact and feels it will go back to work, soon.
  Najarian: Agrees. He says deals are getting done

5. DISH:

  The headline: DISH To Report Earnings Friday Before The Bell
  Bolling: doesn´t like the chart and recommends staying out of the stock for now.
  Macke: Agrees.

6. JACK BACK IN BOX:

  The headline: JBX Shares Rollover and Drop On Disappointing Guidance
  Macke: Says this stock is heavily shorted. Stay away from it!

   News and Events Digest

Breaking News

French bank BNP Paribas said Thursday that it will temporarily stop valuing three of its funds and won't allow customers to withdraw their investments after U.S. subprime-mortgage woes led to the "complete evaporation of liquidity." - MarketWatch

Campbell Soup is putting its chocolate business Godiva up for sale to concentrate on its baked-snacks businesses, the Wall Street Journal reported Thursday, citing sources familiar with the matter.

Godiva could fetch somewhere from $750 million to $1 billion or more, the Journal reported. - CNBC

Media Summary:

According to Reuters, BNP Pariba suspending three funds due to sub-prime problems in their portfolios.

Reuters writes the net income and sales rose at News Corp (NWS).

The Wall Street Journal writes that Google (GOOG) will allow people cited in stories that it picks up to post comments.

The WSJ writes that Toll's (TOL) home-building revenue fell 21%.

The WSJ writes that Blockbuster (BBI) has purchased movie download service Movielink.

The WSJ reports that Toyota (TM) will delay launching its new battery-powered hybrids due to safety concersn.

The WSJ reports that by year-end  firms based in China will represent the single largest number of overseas firms listed on the Nasdaq

The WSJ writes thta results from cable and telecom companies show that internet growth may be slowing.

The WSJ writes that Dell's (DELL) former CEO will receive $48.5 million for his stock options.

The New York Times writes that a private equity firm has invested in the new NBC-News Corp (NWS) online venture

The FT  writes that US car dealers need to improve their image if the industry is to get more leverage in Washington.

Barron's writes that shares in Infospace (INSP) fell on poor results.

M&A Activity:

Blockbuster Inc. (BBI), the Dallas provider of in-home movies and games, said it acquired Movielink, a movie-download service. Terms weren't disclosed. Movielink customers can legally download entertainment content for rental and purchase. The service was created in 2002 by Movielink, LLC, a joint venture of Metro- Goldwyn-Mayer Studios Inc., Paramount Pictures, Sony Pictures Entertainment, Universal Pictures, and Warner Bros. Studios.

IPO Central:

VMware Inc. on Thursday upped the estimated price range of its upcoming initial public offering to $27-$29 a share, from $23-$25 a share. The Palo Alto unit of EMC Corp. (EMC) kept the size of the deal at 33 million shares. Cisco (CSCO) and Intel (INTC) have invested in the company. VMware plans to trade on the New York Stock Exchange under the symbol VMW when it goes public next week. - MarketWatch

Economic Data:

8:30 Initial Claims

   Upgrades and Downgrades by Sector:

Aerospace
 ETN Eaton JP Morgan Upgraded from Neutral to Overweight
 DCO Ducommun Stifel Nicolaus Initiated at Buy $34

Airlines - Passenger
 SKYW SkyWest Calyon Securities Upgraded from Neutral to Add $27

Apparel
 CTRN Citi Trends Avondale Partners Downgraded from Mkt Outperform to Mkt Perform
 CTRN Citi Trends First Albany Downgraded from Buy to Neutral
 CTRN Citi Trends CIBC Wrld Mkts Cut Price Target Sector Outperform $51 to $47

Beverages
 HANS Hansen Natural Longbow Price Target Raised Buy $54 to $62

Biotech
 XNPT Xenoport Citigroup Upgraded from Hold to Buy
 CGRB Cougar Biotechnology First Albany Initiated at Buy $29
 IDEV Indevus Pharm UBS Initiated at Buy $10
 OMRI Omrix Biopharma Soleil Downgraded from Buy to Hold
 OMRI Omrix Biopharma Brean Murray Cut Price Target Buy $41 to $35

Broadcasting
 KNOL Knology Robert W. Baird Upgraded from Neutral to Outperform $17 to $18
 CVC Cablevision Wachovia Downgraded from Outperform to Mkt Perform
 NXST Nexstar RBC Capital Mkts Cut Price Target Sector Perform $13 to $11

Business Services
 WW Watson Wyatt Deutsche Securities Upgraded from Hold to Buy $50
 NUAN Nuance Communications Kaufman Bros Price Target Raised Buy $18 to $20
 MINI Mobile Mini First Albany Cut Price Target Buy $37 to $30

Chemicals
 IFF Intl Flavors Matrix Research Upgraded from Sell to Hold
 AGU Agrium RBC Capital Mkts Price Target Raised Sector Perform $43 to $44

Computer Hardware
 FFIV F5 Networks Ferris Baker Watts Upgraded from Neutral to Buy $80

Computer Services
 SINA Sina Pali Research Initiated at Buy
 INSP InfoSpace RBC Capital Mkts Cut Price Target Sector Perform $25 to $20

Computer Software
 MSTR MicroStrategy Sun Trust Rbsn Humphrey Upgraded from Reduce to Neutral
 EMAG Emageon Friedman Billings Price Target Raised Mkt Perform $8.50 to $9.50
 INTU Intuit Jefferies & Co Initiated at Buy $34
 KNXA Kenexa Cantor Fitzgerald Downgraded from Buy to Hold $42 to $43
 KNXA Kenexa JMP Securities Downgraded from Mkt Outperform to Mkt Perform

Finance Companies
 MGI MoneyGram Credit Suisse Upgraded from Underperform to Neutral $26 to $24
 ACF AmeriCredit Friedman Billings Downgraded from Outperform to Mkt Perform $34 to $24
 ECPG Encore Capital Roth Capital Cut Price Target Hold $12 to $10

Financial Holding
 Co UWBK United Western Bancorp Friedman Billings Cut Price Target Outperform $30 to $26

Foods
 GMCR Green Mtn Coffee Piper Jaffray Downgraded from Outperform to Market Perform
 WWY Wrigley Davenport Downgraded from Buy to Neutral

Gaming Operations
 MCRI Monarch Casino & Resort Nollenberger Capital Upgraded from Neutral to Buy $31
 CHDN Churchill Downs Brean Murray Price Target Raised Buy $52 to $58

Healthcare
 FRX Forest Labs FTN Midwest Upgraded from Sell to Neutral
 NOVN Noven Pharma Oppenheimer Upgraded from Neutral to Buy $20
 NTY NBTY Inc JP Morgan Upgraded from Underweight to Neutral
 ELI Elite Pharma Oppenheimer Initiated at Buy $4.50
 NVO Novo-Nordisk A/S Lehman Brothers Downgraded from Overweight to Equal-weight

Healthcare Equipment
 OCCX Occulogix Caris & Company Upgraded from Below Average to Average $1
 SPNC Spectranetics Dawson James Price Target Raised Buy $14 to $17
 VNUS VNUS Medical Tech Roth Capital Price Target Raised Buy $16 to $19

Industrial Equipment
 FWLT Foster Wheeler Stifel Nicolaus Price Target Raised Buy $129 to $138

Insurance
 CNC Centene Jefferies & Co Upgraded from Underperform to Hold $18.60 to $19
 MOH Molina Healthcare Jefferies & Co Upgraded from Underperform to Hold $26 to $33
 AMCP Amcomp Friedman Billings Cut Price Target Outperform $12.50 to $12

Internet Services
 PCLN priceline.com Banc of America Sec Initiated at Buy $96

Major Pharmaceutical
 AOB American Oriental Brean Murray Price Target Raised Buy $14 to $16

Manufacturing
 BTH Blyth Industries Stanford Research Upgraded from Sell to Hold
 METH Methode Electronics Robert W. Baird Upgraded from Underperform to Neutral $13

Motion Pictures
 NOOF New Frontier Media Roth Capital Cut Price Target Buy $12 to $10
 WPTE WPT Enterprises Roth Capital Cut Price Target Hold $5.50 to $4

Oil and Gas
 ALJ Alon USA Energy Caris & Company Upgraded from Above Average to Buy $51
 FTO Frontier Oil Caris & Company Upgraded from Average to Above Average $37 to $39
 LGCY Legacy Reserves RBC Capital Mkts Upgraded from Sector Perform to Outperform
 MRO Marathon Oil Lehman Brothers Upgraded from Equal-weight to Overweight
 RIG Transocean Matrix Research Upgraded from Buy to Strong Buy
 ALY Allis-Chalmers Energy RBC Capital Mkts Price Target Raised Outperform $24 to $26
 CHK Chesapeake Energy Wachovia Downgraded from Outperform to Mkt Perform

Personal Services
 KNOT The Knot Roth Capital Price Target Raised Buy $26.50 to $28.50
 KNOT The Knot Merriman Curhan Ford Downgraded from Buy to Neutral

Publishing
 IQW Quebecor World RBC Capital Mkts Upgraded from Underperform to Sector Perform $13 to $12

Recreation
 MAT Mattel Piper Jaffray Upgraded from Market Perform to Outperform

Regional Banks
 TBBK The Bancorp Friedman Billings Cut Price Target Outperform $30 to $25

REITs
 AHR Anthracite Capital Jefferies & Co Upgraded from Hold to Buy $12.50 to $10.14
 DEI Douglas Emmett Friedman Billings Price Target Raised Mkt Perform $28.50 to $29.50
 CBL CBL & Assoc Friedman Billings Cut Price Target Outperform $51 to $45
 MAC Macerich Friedman Billings Cut Price Target Outperform $104 to $100
 REG Regency Centers Friedman Billings Cut Price Target Mkt Perform $84 to $82

Retail Trade
 FLWS 1-800-FLOWERS JMP Securities Upgraded from Mkt Perform to Mkt Outperform $12
 CMRG Casual Male JP Morgan Downgraded from Overweight to Neutral
 RSTO Restoration Hrdwr Nollenberger Capital Downgraded from Buy to Neutral

Security Services
 GEO Geo Group Avondale Partners Downgraded from Mkt Outperform to Mkt Perform

Semiconductors
 LTXX LTX Corp Citigroup Upgraded from Hold to Buy
 AMAT Applied Materials Am Tech/JSA Research Price Target Raised Buy $22 to $25

Telecommunications
 IDCC Interdigital Comm Piper Jaffray Upgraded from Underperform to Market Perform
 IWA Iowa Telecom RBC Capital Mkts Cut Price Target Sector Perform $21 to $17

Travel Services
 EXPE Expedia Banc of America Sec Initiated at Buy $35

Utilities
 NI NiSource Lehman Brothers Upgraded from Underweight to Equal-weight