Good morning folks,
The Santa Clause rally continues and oil continues to plunge. Yesterday was another low volume day and today is likely to be more of the same. The IWM took out that 121 I was hoping for but the volume is still concerning to me. We are extended on the daily and we didn't take it out with the force and volume I would have liked to see. Now the key will be to hold above 121 and consolidate. There were a few decent trades out there yesterday but you had to be quick with your entry. I took XNPT yesterday for a swing it was the only trade that I took and it appears as though it worked out fairly well this morning. XNPT has been on my radar for weeks and it was in this weeks video watch list. Yesterday it tried to take out the trendline right off the open with a nice pop in volume. I waited for a pullback to an area of support and decided to take it for a swing. I got a nice mention on CNBC Fast Money after the close and caught a nice pop.
The light volume has me on the sidelines for day trades unless I catch the perfect setup.
I am looking forward to getting back to normal volume levels so we can get a better feel for where things are headed.
Stocks on my radar this morning
KNDI off of China subsidy for electric car news don't chase it, ARCP catching a bounce off of pr Big cloud over this name but could get a nice bounce, KTOS another contract and an SA article more of a swing trade, APT VSR TMKR LAKE Ebola plays if news flow picks up, NDRM new IPO Topline results gapper thin float be careful, FMD possible continuation 6 dolla holla, IDRA possible continuation off of yesterdays move, PHMD decent flag on the daily looks like it wants the 2 dolla holla, BGMD Penny play thin float 8k on FDA clearance this morning active premarket, IMMU hot daily
SPY NDAQ IWM TVIX TZA USO NUGT JDST on radar for market sentiment
 | IN THE NEWS TODAY |
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| U.S. stock futures are lower this morning, following Asian and European stocks into the red. The S&P 500 enters the Tuesday session coming off its 53rd record close of the year, despite a day which saw little movement for any of the major averages. (CNBC) |
| Oil prices remained under pressure in early trading on Tuesday after hitting fresh 5-1/2 year lows in the previous session. Concerns over supply disruptions from Libya initially gave crude contracts a boost on Monday, but benchmark Brent and WTI gave up gains and more in late morning trade. (Reuters/CNBC) |
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| Indonesian officials say they have found 40 bodies in the search for AirAsia flight QZ8501, which went missing early on Sunday. The officials confirmed that debris located close to the island of Borneo, near the site of the last captured radar message from the missing jet, was from the plane. (CNBC) |
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| A second person is being tested for Ebola in Scotland after returning from West Africa. The Scottish government confirmed the first case of the virus in the U.K. on Monday after a healthcare worker was diagnosed a day after flying to Glasgow from Sierra Leone. (Reuters) |
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| Petrobras (PBR), Brazil's state-run oil company, could fall into technical default on some of its foreign debt as early as Tuesday, if bondholders pursue efforts to force it to speed up its assessment of losses from its giant corruption scandal. (Reuters) |
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| North Korea likely hired hackers from outside the country to help execute a cyberattack against Sony Pictures (SNE), a U.S. official close to the investigation said on Monday. U.S. investigators believe North Korea lacks the capability to conduct some elements of the sophisticated campaign by itself. (Reuters) |
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| Toyota (TM) will likely fall short of its 2014 China sales goal of 1.1 million vehicles, according to a Reuters report quoting two company executives. The sources cited economic slowdown and a price war in the local auto market for the anticipated miss. (Reuters) |
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| An arctic blast set to envelop a large chunk of the nation was creeping across the southern Plains and into the South early Tuesday. The arctic blast led to snow-packed motorways from Wisconsin to Denver and hundreds of canceled and delayed flights on Monday. (NBC News) |
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| BY THE NUMBERS |
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| Tuesday brings two economic reports for investors to consider, beginning with the Case-Shiller Home Price Index at 9 a.m. ET. Economists expect home prices in the nation’s largest markets to be up 4.7 percent in October compared to a year earlier, slightly lower than the September year-over-year increase of 4.9 percent. |
| At 10 a.m. ET, the Conference Board’s Consumer Confidence Index is seen coming in at 94.0 for December, a sharp jump from November’s 88.7. |
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| There are no corporate earnings scheduled for release either today or tomorrow. |
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| STOCKS TO WATCH |
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| Computer Sciences (CSC) is among our stocks to watch this morning, after the company said it would pay a $190 million penalty and restate three years of results. That follows an investigation by the SEC into the company’s accounting practices. |
| Civeo (CVEO) is the latest oil-related company to cut spending as a result of low oil prices. It’s also giving weaker than expected guidance and suspending its quarterly dividend. Civeo is a provider of temporary and long-term housing for oil workers. |
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| Liberty Interactive (QVCA) and Liberty Media (LMCA) have signed Chief Executive Officer Greg Maffei to new agreements that will keep him on the job through 2019. |
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Tesla (TSLA) shares could get a boost on news that China plans to extend sales subsidies on electric and fuel-cell vehicles through 2020. Those subsidies had been scheduled to expire at the end of 2015.
KNDI could also Benefit |
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Seeking Alpha
Today's Markets:
In Asia, Japan -1.6% to 17451. Hong Kong -1.1% to 23501. China flat at 3167. India flat at 27404.
In Europe, at midday, London -0.9%. Paris -0.9%. Frankfurt -0.7%.
Futures at 6:20: Dow -0.1%. S&P -0.3%. Nasdaq -0.1%. Crude -0.6% to $53.30. Gold +0.4% to $1187.10.
Ten-year Treasury Yield flat at 2.2%
Notable earnings after today's close: HGR
Best of Success!
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