Good morning folks,
We have had a fairly decent drop in the indexes over the first few days of 2015. The markets are actually flashing green this morning and its not surprising to see a bounce. However today the Fed releases the minutes today and the last time the Fed had something to say the markets snapped back fairly aggressively.
We have some tragic news out of France this morning, Russia is still a mess, China and Brazil are still slowing and Oil can't seem to find a bottom. there are signs of deflation everywhere. Gold and gold miners had a big day yesterday which could be considered as a sign people are looking for somewhere to hide in what is typically considered a safety trade. MU reported earnings they beat but their guidance disappointed. There are plenty of macro fears to consider but the markets can turn on a dime. They are dynamic and always changing. Don't allow your personal thoughts and concerns about the long term implications of these events,what they may evolve into and how it will impact the markets. If you are investing, then yes, you need to take these things into consideration. However, if you are day trading then play what is in front of you and go with the flow.
The IWM and the IBB both held above important moving averages, the 50 and 200 days respectively. TWTR is bouncing off of the former Yahoo CEO comment yesterday and now the rumor Carl Icahn is building a position, JCP reported better than expected numbers and guidance. Many of the former MOMO names were actually flashin green yesterday AAPL TSLA LOCO BABA which could be signal of reversal days. Keep in mind that the market typically reacts one way after the Fed statement and then does an about face about 15 minutes after its absorbed. We could be rather flat prior to the release and the fireworks could begin shortly after. Earnings season officially kicks off with AA next Monday and earnings will be what leads the markets.
At some point the buy the dippers are going to get a rude awakening. Is that time upon us now?
No one knows with certainty when it will be. All we can do is play what is in front of us, manage out trades, protect our capital and be prepared to react if things change quickly.
Stocks on My Radar
GALT Gapper off pr phase 1 can be a pop and flopper so be careful, JCP earnings beat possible pullback bounce play, MOC red to green potential, ATEN red to green tried to do a little something EOD yesterday, TWTR looking for a swing entry, PKT revenue guidance for the quarter getting a pop big gap to fill in the daily, ARNA Phase 1 B data can be a pop and flopper be careful, SIRI raised guidance very thick stock more of a swing, SALT NNA possible sympathy plays with FRO shippers should be on your radar, NLST insider buy possible dolla holla, WYY already a long term hold got jiggy yesterday possible continuation
TVIX TZA IWM IBB JDST JNUG GLD SPY USO UUP for market sentiment
CNBC in the news
 | IN THE NEWS TODAY |
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| U.S. stocks are trying to get back their winnings ways, after the S&P 500 fell for a fifth straight session Tuesday in its worst ever start to a year, down 2.7 percent for 2015. (CNBC) |
 Starting this morning, CNBC's "Squawk Box" comes to you from its new home in New York City with special guests Bill Ackman of Pershing Square at 7 a.m. ET and Goldman Sachs boss Lloyd Blankfein at 8 a.m. ET. Meanwhile, Matt Quayle, senior executive producer for "Squawk Box," wrote about the show's evolution over the past 20 years and its future. |
| Brent crude dipped below $50 a barrel this morning for the first time since May 2009, while U.S. oil prices fell below $47 after a 4-percent decline in New York trading Tuesday. (CNBC) |
| In a swipe against U.S. producers, the oil minister for United Arab Emirates said crude prices could recover if non-OPEC producers "act rationally" and curb planned output increases, an action OPEC refuses to take. (Reuters) |
| Bond prices were little changed this morning, after a rally Tuesday sent the10-year Treasury yield below 1.90 percent for the first time since October, before recovering some of those losses. (Reuters) |
| Looking at the last selloff for the market sheds light on some of the trades that investors are putting some their money back into, namely bond ETFs. (CNBC Pro) |
| Closely watched bond investor Bill Gross, formerly of Pimco now with Janus,is advising caution for investors in the year ahead, suggesting that 2015 will not be a year of outsized gains. (Reuters) |
| Another former Pimco bigwig, Mohamed El-Erian joins us at 7:30 a.m. ET with his views on the markets and Fed interest rates. |
| In what's expected to be the best holiday season for retailers since 2011,JCPenney (JPC) said same-store sales rose 3.7 percent in November and December, boosting its stock more than 15 percent in the premarket. (Reuters) |
| Audio equipment maker Monster has sued Apple-owned Beats Electronicsover alleged "fraud and deceit" in the way Beats acquired control of the rights to the popular "Beats by Dr. Dre" headphones. (Reuters) |
| The Apple Watch may be coming to your local Apple Store sooner than you think. According to 9to5Mac, the highly anticipated wearable could arrive in the U.S. by the end of March. |
| Intel (INTC), known for computer chips, shows off new wearables at the Consumer Electronics Show in Las Vegas, while also announcing a $300 million investment in programs to hire more women and minorities. (Reuters) |
| The first images of the wreckage from AirAsia flight 8501, discovered in the Java Sea, have been released by the Indonesian government. Divers and an unmanned underwater vehicle located the missing plane's tail section today. (CNBC) |
| In the lead-up to the State of the Union, President Barack Obama kicks off a three-city tour today, trumpeting the resurgence of the auto industry, with a visit to the Ford Michigan Assembly Plant. (Detroit Free Press) |
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| BY THE NUMBERS |
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| The ADP private sector payroll data is released at 8:15 a.m. ET and is expected to show 250,000 private sector jobs were created in December.Friday's government employment report for December is expected to show a total of 240,00 nonfarm payrolls and an unemployment rate of 5.7 percent. |
| International trade figures for November are released at 8:30 a.m. ET, with estimates calling for a goods and services deficit of $42 billion versus $43.4 billion the previous month. |
| Traders will be watching oil inventory data out at 10:30 a.m. ET. Oil has reacted strongly to reports of higher-than-expected supply. |
| At 2 p.m. ET, the Fed releases minutes from its last policy meeting, and traders are watching to see if there's any clarification of what Fed Chair Janet Yellen meant when she said the central would not begin the normalization process of raising rates for at least a couple of meetings. |
| Meanwhile, Chicago Fed President Charles Evans, a FOMC voting member this year, speaks at 6:30 p.m. ET tonight. Evans joins "Squawk Box" Fridayafter the release of the jobs report. |
| Monsanto (MON) and Supervalu (SVU) are among the companies reporting quarterly earnings this morning, while WD-40 (WDFC) is among the handful of reports scheduled after today’s closing bell. |
| Micron Technology (MU) shares were under pressure in premarket trading, after the chipmaker provided weak revenue guidance late Tuesday. Earnings for its just-ended fiscal first quarter beat expectations, while revenues fell short. |
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| STOCKS TO WATCH |
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| Sony (SNE) CEO Kazuo Hirai does not see the November cyberattack on Sony Pictures causing major upheaval in the studio's business. Meanwhile, the movie “The Interview,” which drew threats from hackers, has made $31 million from rentals and purchases online and through cable, satellite, and telecom providers. |
| Keurig Green Mountain (GMCR), maker of the K-Cup single-serve coffee pod,signed a deal with Dr Pepper Snapple (DPS) to sell capsules that make its sodas in Keurig's planned cold-drink machine, according to the Wall Street Journal. |
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Seeking Alpha
Today's Markets:
In Asia, Japan flat at 16885. Hong Kong +0.8% to 23681. China +0.7% to 3374. India -0.3% to 26909.
In Europe, at midday, London +1%. Paris +1.3%. Frankfurt +1.2%.
Futures at 6:20: Dow +0.6%. S&P +0.7%. Nasdaq +0.6%. Crude +1.3% to $48.57. Gold -0.4% to $1214.80.
Ten-year Treasury Yield flat at 1.95%
Notable earnings after today's close: MG, WDFC
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This year, one of the things I would like to accomplish is putting together a group of aspiring and active traders/ investors for monthly informal social gatherings where we can talk about stocks, the markets, trading and investing strategies. Last night was the first meeting and while it was a small group it was really a lot of fun. If you are in Vegas and interested in being part of such a group email me @ Alphawolfvegas66@gmail.com
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