Hey there folks,
We are testing some key levels in the IWM and the IBB and as I look at all the various components of the market I see an awful lot of weakness out there. This doesn't mean that we are headed straight down but it could suggest that we have to work off some over exuberance through either time or price. We may consolidate in flat choppy action or we may have a steep price correction.
Only time will tell the story, but it does warrant being cautious as things play out.
Stocks on my Radar
PIP active premarket off of old news. VSTM pr thin one possible bounce play, TUBE possible bounce play, MUX Decent daily look for a crack over 1.30 with volume, NVGN possible continuation,
TVIX TZA NUGT JDST USO SPY IBB IWM for market sentiment
CNBC In the news
 | IN THE NEWS TODAY |
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| U.S. stock futures were under pressure this morning, after a fifth session of declines on Wall Street on that stunning Swiss currency move, weaker U.S. economic data, and disappointing bank earnings. Goldman Sachs (GS) issues its results before the bell. (CNBC) |
 Jim Chanos, head of the world’s largest short-selling hedge fund, joins CNBC’s “Squawk Box” until 9 a.m. ET to talk about which companies he has in his crosshairs. |
| Intel (INTC) late Thursday reported quarterly earnings and revenue thattopped forecasts, but first-quarter margin and revenue guidance came in slightly light. (CNBC) |
| Intel CEO Brian Krzanich joins us at 8:40 a.m. ET to talk about what the numbers may be signaling about the health of PC sales and the chipmaker’s push into wearables. |
| With concern about deflation roiling global markets, the U.S. government releases the consumer price index at 8:30 a.m. ET. The December CPI is seen falling 0.4 percent, after a 0.3 percent decline in November. Excluding food and energy, the core rate is expected to rise 0.1 percent. (CNBC) |
| Foreign exchange trading platform FXCM (FXCM) said it might have breached regulatory capital requirements after its clients suffered losses of $225 million on the Swiss action to uncap the franc. Meanwhile, foreign exchange broker Alpari UK has entered insolvency. (NY Times & CNBC) |
| While a recovery in battered oil prices might not be "imminent," there aretentative signs the tide is turning, according to the International Energy Agency's latest report. Meanwhile, oil is higher this morning. (CNBC) |
| Schlumberger (SLB) plans to cut 9,000 jobs, or about 7 percent of its workforce, as the oilfield services giant tries to control costs in response to plummeting oil prices. (Reuters) |
| The world's largest casino operator is losing its leader in Macau amid the worst-ever downturn in the once-booming Chinese gambling hub, which has been hammered by Beijing's crackdown on corruption. (WSJ) |
| In another setback to ride-sharing service Uber, the San Francisco-based startup has been ordered to stop operating in South Carolina until it gets proper certification by the state. (USA Today) |
| New rules put in place by President Barack Obama make it easier starting today for Americans to visit Cuba than it's been for most of the past 50 years. (NY Times) |
| In an anti-terrorism sweep across Europe, Belgian authorities said theythwarted an imminent attack, killing two suspects and arresting a third. At least 12 people were arrested in Germany and France, while U.S. Secretary of State John Kerry met with French leaders. (AP) |
| The Supreme Court today sifts through four separate cases related to gay marriage. While the justices could pick up any of them, the one most favored to be chosen, if any, is Michigan's same-sex marriage ban. (USA Today) |
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| BY THE NUMBERS |
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| Investors pulled $4.1 billion out of U.S. stock funds in the latest week, the second straight week of net outflows, new data from the Thomson Reuters Lipper service showed. |
| In addition to consumer prices, investors get a read on manufacturing.Industrial production for December is expected to be unchanged, following a 1.3 percent increase in November. Capacity utilization is seen at 79.9 percent after a 80.1 reading in November. |
| Preliminary figures on January consumer sentiment, out at 10 a.m. ET, are expected to show a reading of 94.4 following the prior 93.6 level. |
| Besides Goldman, other financial firms are out with earnings this morning, including Charles Schwab (SCHW), PNC Financial (PNC), and SunTrust (STI). There are no major companies on the schedule to report results after the bell. |
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| STOCKS TO WATCH |
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| Four Silicon Valley companies including Apple (AAPL) and Google (GOOG) have agreed to pay $415 million to resolve an antitrust class action by tech workers. The suit accused the firms of conspiring to avoid poaching each other's employees. |
| Amazon's (AMZN) tax arrangements in Luxembourg may violate European Union law and give the U.S. e-commerce giant an illegal advantage over competitors, said EU regulators. |
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Seeking Alpha
Today's Markets:
In Asia, Japan -1.4% to 16864. Hong Kong -1% to 24104. China +1.2% to 3377. India +0.2% to 28122.
In Europe, at midday, London -0.1%. Paris +0.3%. Frankfurt -0.1%.
Futures at 6:20: Dow -0.4%. S&P -0.4%. Nasdaq -0.8%. Crude +2% to $47.17. Gold -0.6% to $1257.50..
Ten-year Treasury Yield -6 bps to 1.77%
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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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