Thursday, October 23, 2014

Key level tested

Good morning Folks, 
We had a test of some former support yesterday where we experienced some weakness in the markets. Oil was the big culprit and the tragic events in Canada added to the negative tape. Earnings are actually coming in a bit better than expected but the question is whether its enough to put us back on the path of taking out new highs. 

Yesterday was a perfect example of how a couple of headlines can dramatically change market sentiment. In my opinion, we still do not have the all clear and need to be cautious before loading up on any swings or long term holds. I am dipping my toe here and there of companies I want to own for the long haul in moderation. NOK is one of those names and they just reported a solid quarter. I will be looking to add to that position. 

We appear to be headed for a strong open CAT just reported and crushed expectations. I am not a big fan of gap up days. I recognize that my performance is sub par on gap up days. With that in mind I will likely be very patient and diligent in trying to find an ideal set up before taking any day trade. 

Stocks on my Radar 
VIMC pr still have a few lottos will be looking for a day trade, VPCO potential red to green, NOK may look to add to my swing as well as a day trade setup, GSAT hot daily,  ISNS VII potential continuation plays, RGLS red to green, CYTX pr gapper,  KNDI like the daily, INFN active premarket, AKER thin one pr needs some real volume to play it, IGC looking like it wants the dolla holla can be a pop and flopper so be cautious, GRUB active premarket like the daily earnings beat

If market rolls over 
TVIX TZA  

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Today's Markets:
In Asia, Japan -0.4% to 15139. Hong Kong -0.3% to 23333. China -1% to 2302. India closed.
In Europe, at midday, London -0.4%. Paris +0.3%. Frankfurt +0.5%.
Futures at 6:20: Dow +0.5%. S&P +0.5%. Nasdaq +0.5%. Crude +0.2% to $80.65. Gold -0.5%to $1239.90.
Ten-year Treasury Yield +2 bps to 2.24%
Notable earnings before today's open: AALABACATAEPALKALVALXNARG,ASPSAVTBBWBCBCCBHEBKUBMSCABCAMCATCCECELGCFXCHKP,CLICMCSACMSCRICRSCSCSHCVECWEIDANDGXDLXDNKNDODPS,EQMEQTFAFGMGMTGPIGRUBHEROHUB.BIMAXIVCJAHJAKKJBLU,JNSKKRLAZLLYLOLSTRLTMLUVMDPMHOMINIMJNMMMMTRNNLSN,NOKNUENWEORIOSISOSTKOXYPCPPENNPHMPLDPOTPRLBPTEN,QSIIRCIRCLRSRTNRYLSIALSILCSJRSLABSONSSQNSSTCTDYTROW,UAUALUFSUNPUSGUTEKWCCWSOYNDXZMH
Notable earnings after today's close: ADESALGNALTRAMZNBASBJRIBLDR,BMRNCBCBICERNCLMSCLNECNMDCPWRCTCTCYNDECKDLBDVECHO,ELYEWFETFIIFLSFSLGHLGIMOHBHCHUBGHWAYIMINFAJNPRKLAC,LOGMLSCCMSFTMTSNMXIMMXWLNNCRNTGROLNPPACBPCCCPDFS,PEBPFGPFPTPOLQLIKRMDRUBIRVBDSHORSIVBSPNCSRCLSWFT,SWNSYNAVMIVRSNWOOFWRBWREWRI
Best Of Success!!

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