Good morning folks,
What a wild day yesterday as volatility is out in full force. Retail sales missed by a large margin this morning and yesterday we had an outside reversal day. We are flashing red premarket and in my opinion we are likely to continue in that direction for the near term. If you have been watching my videos over the last several weeks you know that I have been very skeptical of the markets. Today could be our confirmation that we are headed lower. Be careful trying to start long positions! If you haven't done so already, put together a list of stocks you want to own that are on sale.
ZIOP was on the watchlist video this weekend and its gapping up big off of pr last night. I actually played it post market yesterday and I am completely out now. I would not chase it up here but it may setup after the open.
Stocks on my radar
ZIOP gapped up a lot look for a setup, TASR pr nice daily but more of a swing definitely on my wish list, NEPT decent earnings > thin one, CARA had a little pop last night look for continuation, SMSI raised revenue guidance another thin one,
USO UUP TZA TVIX NDAQ IWM JDST NUGT SPY IBB for sentiment
Seeking Alpha
Today's Markets:
In Asia, Japan -1.7% to 16796. Hong Kong -0.4% to 24113. China -0.4% to 3223. India -0.3% to 27347.
In Europe, at midday, London -1.5%. Paris -0.4%. Frankfurt -0.3%.
Futures at 6:20: Dow -0.3%. S&P -0.3%. Nasdaq -0.3%. Crude -0.3% to $45.75. Gold -0.4% to $1229.90.
Ten-year Treasury Yield -2 bps to 1.89%
Notable earnings before today's open: JPM, SJR, WFC
Notable earnings after today's close: CLC, GEF, FUL
CNBC in the News
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| Earnings season is kicking into high gear with major banks releasing results. JPMorgan (JPM) today reported earnings that were hit by legal costs.Wells Fargo (WFC) is also out with profits this morning. (CNBC) |
| Volatility is back on Wall Street these days, highlighted by Tuesday’sdramatic reversal which saw the Dow up 282 points and down 143 points before closing modestly lower. (CNBC) |
| The euro fell below its 1999 launch rate against the dollar for the first time in over nine years, after an adviser to Europe's highest court said an ECB bond-buying program was legal under certain conditions. (Reuters) |
| The World Bank today lowered its global growth forecast for 2015 and 2016 due to disappointing economic prospects in the euro zone, Japan, and other emerging economies, offsetting the benefit of lower oil prices. (Reuters) |
| Ericsson is suing Apple (AAPL) over mobile technology licenses, in response to the iPhone maker’s suit against the Swedish telecom equipment supplier earlier this month. (Reuters) |
| Apple was granted a patent that allows it to create a mountable camera system like the one popularized by GoPro (GPRO) whose shares fell sharply on the news. |
| Bill Ackman, the activist investor famous for his high-profile battle withHerbalife (HLF), told CNBC his short on the stock was "the most philanthropic" he ever made. |
| A top leader of Yemen's al-Qaeda branch has claimed responsibility for last week's deadly attack on satirical Paris newspaper Charlie Hebdo, whose defiant new issue, with a cartoon of the Prophet Muhammad on the cover,sold out. (AP & CNBC) |
| President Barack Obama plans to use executive authority to issue the first federal regulations to target emissions of methane during oil and natural gas production. (NY Times) |
| President Obama wants to make it easier for local communities to build their own high-speed Internet networks because services are too expensive andthere isn’t enough competition in many areas. (Re/code) |
 Sen. Marco Rubio, Republican from Florida, joins CNBC's "Squawk Box" at 8 a.m. ET to talk about the evolving 2016 presidential race and whether he's leaning towards running. |
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| BY THE NUMBERS |
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| Economic reports are prominent for the rest of the week, beginning with this morning’s December retail sales numbers at 8:30 a.m. ET. Economists are looking for a 0.2 percent drop following 0.7 percent gain in November. The government also releases at 8:30 a.m. ET its report on import and export prices for December. |
| November business inventories are out at 10 a.m. ET, with consensus forecasts calling for a 0.3 percent rise after a 0.2 percent increase in October. Meanwhile, oil and gasoline inventories from the Energy Department are released at 10:30 a.m. ET. |
| At 2 p.m. ET, the Fed releases its latest Beige Book, the central bank’s region-by-region assessment of the U.S. economy. |
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| STOCKS TO WATCH |
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| Dow Transportation component CSX (CSX) reported earnings in-line with estimates and a slight beat on the revenue side. The rail operator sees double-digit earnings growth this year, powered by an increase in its freight operations. |
| JetBlue (JBLU) said revenue per available seat mile was down 6 percent in December compared to a year earlier, and will come in relatively flat for the fourth quarter. The Q4 assessment is an improvement over its prior forecast of a decline of as much as one percent. |
| Ocwen Financial (OCN) said it’s cooperating with California regulators,despite accusations to the contrary, to resolve an issue which has resulted in a threatened suspension of Ocwen’s license in that state. |
| Suncor Energy (SU) is the latest energy-related company to cut spending in response to lower oil prices. Suncor will trim $1 billion from its capital spending program, and operating expense reductions of up to $800 million to be phased in over two years. |
GameStop (GME) reported a 4.4 percent increase in December same-store sales, and said consumer demand for video game sales was strong. The retailer also improved its same-store sales forecast for its fourth quarter ending in January.
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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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BEST OF SUCCESS!
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