Friday, April 29, 2016

Its Starting To Feel Different

Good morning folks, 
Yesterday started out fantastic with all kinds of tremendous short term trading opportunities and then as the day progressed the markets began to roll over. It could be attributed to the Carl Icahn appearance on CNBC or it could just be that the market is losing some steam after a huge run and may actually start trading on fundamentals which in reality have not been very encouraging.  The NASDAQ has been the main culprit but it is beginning to spread to other sectors.

This doesn't mean we need to hit the eject button just yet but we do need to start taking a more defensive position. Reduce exposure, lock profits, build cash and look for signs of short term trend changes.

Gold and miners continue to impress as the dollar continues struggle. Shippers had a nice little pop yesterday and could get some follow through today SALT PRGN TNK DRYS FRO EGLE STNG are a few that come to mind . Volatility also started to show signs of life yesterday so keep an eye on UVXY and TVIX 

Friday trading has been pretty challenging lately so it may not be a bad day to sit out on the sidelines. 

I will be doing this weeks market wrap video later today or first thing tomorrow morning. I will post it as soon as its complete. 


Today's Markets 
In Asia, Japan closed for holiday. Hong Kong -1.6% to 21037. China -0.3% to 9569. India+0.1% to 25617.
In Europe, at midday, London -0.5%. Paris -1.3%. Frankfurt -0.8%.
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq flat. Crude +0.9% to $46.46. Gold+0.9% to $1277.20.
Ten-year Treasury Yield +1 bp to 1.84%
Today's Economic Calendar
ETF's on my Radar 
Volatility & SPY                                     OIL                                                  Biotech
UVXY XIV VXX TVIX SPXS SPXL      UWTI DWTI GUSH DRIP         
LABD IBB LABU      
 Gold                                SILVER         Dollar                                Financials
GLD NUGT JNUG             USLV          UUP                                 FAS XLF FAZ

Minerals and Miners                   Utilities           RETAIL                    Transportation              
XME GDX GDXJ                      XLU             XRT                         IYT  XTN
DUST JDST  
Agriculture 
DBA, DAG

Stocks on my Radar Premarket 
VRX   10K is out> active pre market 
SDRL gapper off news potential continuation
AMZN Earnings beat> Gapper
LNKD earning beat >Gapper
IQNT earnings beat  >potential 18 test and roll 


Stocks discussed in this week Ticker TV video are below the video replay is in the Ticker Tv section the right of the page.