Good morning folks,
We had small bounce in commodities catching some of the gold, silver and oil bears by surprise. JNUG NUGT USLV and a few select small oil names were decent plays for a nice snap back play. The IWM continued the weakness that began on Friday filling the gap on the daily and now testing moving average support.
This morning we are seeing some weakness in the commodities and the indexes are flashing a little green. We had a few mergers announced CY and CODE, AVNR is being acquired by a Japanese firm, AV is merging with a company out of the UK, GLW is buying Samsungs Fiber optic business.
The markets are still fairly choppy so be patient with your entries and try not to chase anything. I did begin a starter position in F for a long term hold. I really like the way it is flagging just below the 16 dolla holla. I scaled some TASR swing yesterday but will be looking to take it and possibly DGLY for a day trade if we get a continuation of strength today.
Stocks on the Radar
VGGL active premarket, TASR and DGLY, GRPN upgrade yesterday like the daily pr this morning, CY testing levels it hasn't seen in quite awhile possible 12 dolla roll, ISR possible follow through and 2 dollar roll, UEC pr possible bounce off of 20 EMA, MOLG possible bounce play Day trade only, DGAZ 4 dolla roll,
JNUG TVIX TZA NUGT UVXY IWM
CNBC in the news
| In the news today |
|---|
| U.S. stocks were higher in early trading today, after last month’s rally took a pause on the first day of December. Investors will be looking for clues on how consumers feel about the economy in today's monthly auto sales numbers. (CNBC) |
| U.S. online sales grew a smaller-than-expected 8 percent on Cyber Monday, with some consumers taking advantage of Internet promotions before and during the Thanksgiving weekend. (Reuters) |
| Wal-Mart (WMT) today said its online sales broke the retailer's records, with more than 1.5 billion pages viewed on Walmart.com between Thanksgiving Day and Cyber Monday. Mobile sales accounted for about 70 percent of that traffic. (CNBC) |
Oil resumed its march south in early trading today, after Monday's rare rally off five-year lows. U.S. crude prices fell 10 percent Friday, following OPEC's refusal to cut production. (Reuters)
 Falling prices at the pump are renewing calls to raise the federal gas tax to help pay for fixing America's ailing infrastructure. Anti-tax crusader Grover Norquist and former governor Ed Rendell debate the issue on CNBC's "Squawk Box" at 8:30 a.m. ET. |
| Opening statements are set to begin today in a long-running digital music class action case against Apple(AAPL) that could end up costing the tech giant about $1 billion if it loses. (Reuters) |
| The FBI is warning American businesses that hackers have used malicious software to launch destructive attacks in the U.S., following a devastating breach last week at Sony Pictures Entertainment. (Reuters) |
| Japanese auto parts maker Takata is reportedly preparing to comply with a U.S. order to expand a region-specific recall of potentially faulty air bags, a move likely to add millions more cars to the tally. (Reuters) |
| General Motors (GM) is recalling about 316,000 vehicles in North America because their headlights can stop working. The latest announcement brings the total number of GM recalls to 79 this year. (AP) |
| The National Highway Traffic Safety Administration is investigating whether Newell Rubbermaid’s (NWL) Graco unit waited too long to report a safety defect that regulators say affected nearly 4 million child car seats.(CNBC) |
Today's Markets:
In Asia, Japan +0.4% to 17663. Hong Kong +1.2% to 23654. China +3.1% to 2763. India -0.4% to 28444.
In Europe, at midday, London +1%. Paris flat. Frankfurt -0.3%.
Futures at 6:20: Dow +0.2%. S&P +0.2%. Nasdaq +0.2%. Crude -1.6% to $67.90. Gold -1.7% to $1197.70.
Ten-year Treasury Yield flat at 2.23%
In Asia, Japan +0.4% to 17663. Hong Kong +1.2% to 23654. China +3.1% to 2763. India -0.4% to 28444.
In Europe, at midday, London +1%. Paris flat. Frankfurt -0.3%.
Futures at 6:20: Dow +0.2%. S&P +0.2%. Nasdaq +0.2%. Crude -1.6% to $67.90. Gold -1.7% to $1197.70.
Ten-year Treasury Yield flat at 2.23%
Today's economic calendar:
Auto sales
7:45 ICSC Retail Store Sales
8:30 Gallup US ECI
8:55 Redbook Chain Store Sales
10:00 Construction Spending
Auto sales
7:45 ICSC Retail Store Sales
8:30 Gallup US ECI
8:55 Redbook Chain Store Sales
10:00 Construction Spending
Best of Success!
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