Wednesday, April 30, 2014

Could I have been more WRONG?

Good morning folks , 
Over the weekend I went definitively bearish on the markets and after the first two days of this week I appear to be just a little off base. In my defense I did suggest that we were likely to bounce around a bit and I didn't think it would be a straight shot down. It appears the steroids are kicking in and the Bulls are feeling emboldened and after going through my scans things are looking a bit better but I am still cautious and sticking to my plan of limiting swings for the time being. Markets rarely do what you expect them to do exactly when you want them to do it. Since I like to play stocks to the long side it's not breaking my heart that the markets are putting in some green days. 

Tuesdays in particular have been good days for the market lately. It has been the second half of the week that we get our pullbacks. It will be interesting to see how this week ends. We have the Fed today and it could be a snooze fest until we get some kind of announcement from them. As I have said many times in the past > you must play the market in front of you. Its nice to pontificate and act like I know what the future holds but reality is my guess is as good as yours. All I try to do is share what I am interpreting in the charts at a specific point in time. Those things can change quickly and we have to be nimble enough to change with them. Yesterday was a decent day with MGM,  XOMA MNGA and WB. Twitter reported earnings after the close and at least for now the street didn't seem to like the numbers it will be interesting to see what SOCL does today.

GDP report was a bit weak this morning lets see how that impacts the market 

Morning movers and other stocks that caught my eye  

GFIG earnings 4 dolla roll, PEIX 50 day bounce earnings after the close though, FTEK bouncing a bit, SGYP like the daily PR, RFMD earnings like the daily, TASR earnings wouldn't chase it more of a swing, MWA earnings another swing type name, MPO like the daily,VRNG pr nice 4 dolla roll, FCEL pr nice bounce play, MVIS still on my radar earnings next Tuesday, $FXEN nice daily could be ready to break flag off pr,  

Seeking Alpha
Today's Markets:
In Asia, Japan +0.1% to 14304. Hong Kong -1.4% to 22134. China +0.3% to 2026. India -0.2% to 22425.
In Europe, at midday, London +0.1%. Paris -0.4%. Frankfurt -0.2%.
Futures at 6:20: Dow flat. S&P -0.1%. Nasdaq -0.3%. Crude -1% to $100.34. Gold -0.3% to $1292.10.
Ten-year Treasury Yield +2 bps to 2.71%.
Notable earnings before Wednesday’s open: ABABXACCOACTADPADTALLTAUDC,AUOCEVACKSWCVEDDHXENREVEREXCGIBGOVGRMNGVAHHESHPY,HSPIACIICONIMNINGRIPISSIJLLLLLVLTMGAMMRGEMSCIMWVNEENI,NVMINYCBOMGOSISPBIPNKPSXPSXPRDWRRGSSEESNCRSOSPWSUI,TASRTFXTRITWXTXWECWLPZEUS
Notable earnings after Wednesday’s close: AELANADARAYARIIASHATMLATWAXTI,BCOVBDNBGCBMRBYDCACICAVMCBGCBTCGNXCHMTCJESCMOCNW,COHRCRLCSIICWCWTDOXDREDRIVEDMCEGNELGXELXEPAMEQIXEQR,EXLFBHSFLEXFLTXFNFFORMGDOTGLUUHOLXHOSHRINTIOIPIIRFIRGISIL,JDSUJKHYKEGKEXKONAKSKTOSLNCLOCKLOPEMAAMANTMASIMDAS,MDUMETMTGEMURNBIXNEWPNGDOILTOPLKPACBPDMPEIXPFPTPOL,PPCPRAAQUIKRKUSROVIRRTSSAMSFLYSGISPRTSSSSTMPTEXTSO,TSROTTEKTTMIUNTDVNTVWBMDWDCWLLWMBWMGIWPZWTWYELP
Best of Success!

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