Good morning folks,
Seahawks fans learned this lesson on Sunday. As I die-hard Cleveland Browns fan its a lesson that I have experienced consistently over the last 40 years and one I continue to learn each new season.
We had a swift reversal and aggressive snap back in the markets over the last couple of days.
Oil staged a nice rally and the DOW posted a nice 300 point day nearly erasing half of all the losses for the entire month of January.
Its hard to find anything wrong with that type of action and could make me people want to pop the cork, and jump in the party with both feet. Lets take a step back and look at a few things and take them into consideration before we get to far ahead of ourselves.
One thing that caught my eye was the weakness in the IBB relative to the rest of the indexes. That isn't by itself a big deal since you would expect the index that has been the strongest may see some money leave to go to the sector that is most beaten up when it starts to bounce like the oil and gas sector has done over the last few days.
However we continue to trade in a range and for several of my charts of the indexes and sectors all we have done is come back up and test the shorter term trendline.
I am not trying to rain on the parade and we may very well have a reversal with the markets and on the verge of breaking out of the range and ripping to new all time highs. Until we break out of this range with conviction I remain cautious.
Stocks on my radar
NES popping off of selling off a division gapper wait for a setup, CANF daily is interesting pr this morning thing one, EVGN anemic volume thin float pr this morning in a clear downtrend but if this thing got some volume it could rip, ZIOP priced its offering had a nice bounce post market, ASTI pr decent daily could be ready to go test the dolla holla, PCOM another thin one announced share repurchase program 5 percent of outstanding shares, TSL pr possible continuation, SUNE another solar name with pr decent daily more of a swing , HNSN pr Eventually going to take out the dolla holla, VGGL active premarket off earnings thin one wait for a setup,
Watch oil and solars
USO UUP TZA TVIX SPY IBB NUGT JDST IWM NDAQ for market sentiment
CNBC in the News
 | IN THE NEWS TODAY |
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| U.S. stock futures were little changed in early trading, after the Dow gained another 305 points Tuesday, recouping the bulk of January's losses in just the past two sessions. (CNBC) |
| Oil prices were lower early today, ending a four-day rally as weak China datarekindled demand concerns. Crude had been up 22 percent from its intraday low last Thursday. (CNBC) |
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| Looking to encourage lending and boost economic growth, China's central bank today cut the amount of deposits it requires banks to hold as reserves to 19.5 percent. (CNBC) |
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 Management guru and former GE boss Jack Welch joins CNBC's "Squawk Box" until 9 a.m. ET with his views on the markets and the world stage. |
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| Seven people were killed and another dozen were injured when a crowded New York commuter train struck an SUV stalled on the tracks near suburban White Plains during the rush hour Tuesday evening. (Reuters) |
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| A Taiwanese flight with 58 people turned on its side in midair, clipped an elevated roadway and careened into a river today shortly after takeoff from the island's capital of Taipei, killing at least 15 people. (AP) |
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| Jordan executed two al-Qaeda prisoners before dawn today, just hoursafter an online video purported to show Islamic State militants burning a captured Jordanian pilot to death in a cage. (AP) |
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| Ashton Carter is expected to win easy approval from the Senate to become the next secretary of defense. But he's likely to face tough questions attoday's confirmation hearing. (Washington Post) |
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| Walt Disney (DIS), also a Dow stock, late Tuesday saw earnings and revenueblow past expectations. Meanwhile, Disney boss Bob Iger told CNBC the parks business saw no impact from the measles outbreak. (CNBC) |
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| Chipotle's (CMG) same restaurant sales and revenue increased but failed to meet estimates. The chain also said late Tuesday it's considering increasing prices. Earnings, however, did beat forecasts. (CNBC) |
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| J.M. Smucker (SJM) has agreed to buy Big Heart Pet Brands for $3.2 billion, snapping up the popular Meow Mix and Milk-Bone brands in its first venture into the fast-growing U.S. pet food market. (Reuters) |
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| Trying to keep up with growing demand for its new F-150 pickup, Ford (F) isadding 1,550 workers to support increased production. The new F-Series is off to a strong start since rolling into showrooms in December. (CNBC) |
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| Netflix (NFLX) appeared to be back online after an outage that lasted for over an hour last night, but not before distraught users took to the Internet to offload their grievances. (CNBC) |
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| More than 80 professional golf caddies have filed a $50 million lawsuitagainst the PGA tour alleging that the organization compelled them to wear corporate sponsored logos on bibs without compensation. (CNBC) |
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| BY THE NUMBERS |
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| Investors are focusing on jobs this week in the lead-up to Friday's January employment report. ADP's monthly look at private sector employment is out at 8:15 a.m. ET, with consensus forecasts calling for 240,000 new jobs for last month, on par with a nearly identical gain in December. |
| The Institute for Supply Management issues its January non-manufacturing index at 10 a.m. ET, with economists looking for a reading of 56.1, compared to 56.5 in December. Meanwhile, the Energy Department is out with its assessment of oil and gasoline inventories at 10:30 a.m. ET. |
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| Mortgage activity took a slight breather last week, but applications for government-backed loans are on a tear. (CNBC) |
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| The U.S. is currently driving the global economy, and a look at the latest YPO Global Pulse survey and confidence index show American CEOs believe their businesses are up to the task for at least a while longer. (CNBC) |
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| The stock market index fund Warren Buffett picked in a bet continues to outpace a collection of hedge funds seven years into the 10-year wager. (AP) |
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| To get a reading on the emerging equity crowdfunding market, CNBC is unveiling a new Crowdfinance Index, which measures the 50 largest capital commitments raised by private U.S. companies. It collates real-time offerings from 16 equity crowdfunding sites. |
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| STOCKS TO WATCH |
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| Macy's (M) raised its 2014 profit forecast, and also announced theacquisition of beauty products and services provider Bluemercury for $210 million. |
| Macy's Chairman and CEO Terry Lundgren and Bluemercury bossMarla Beck join us at 8 a.m. ET to talk about the deal. |
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| Costco (COST) reported flat same-store sales for January, below estimatesof a 1.2 percent increase. |
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| Sony (SNE) trimmed its expected fiscal year loss, after cutting corporate costs and seeing better-than-expected sales of its PlayStation video game consoles. |
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| Toyota (TM) increased its annual profit forecast, as the automaker benefits from the drop in the yen's value. |
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| Saudi Arabia's Kingdom Holding, the investment firm owned by billionaire Prince Alwaleed bin Talal, sold most of its stake in media giant News Corp(NWSA), as part of a portfolio review. |
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| Yahoo (YHOO) plans to spin off its Small Business unit along with its stake in Alibaba (BABA). |
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| Wynn Resorts (WYNN) missed estimates on both the top and bottom line, with the casino operator feeling the impact of a decline in business in Macau. |
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Seeking Alpha
Today's Markets:
In Asia, Japan +2% to 17679. Hong Kong +0.5% to 24680. China -0.9% to 3175. India -0.4% to 28883.
In Europe, at midday, London -0.6%. Paris -0.2%. Frankfurt -0.2%.
Futures at 6:20: Dow -0.1%. S&P -0.2%. Nasdaq -0.2%. Crude -3.1% to $51.41. Gold +0.6% to $1268.30.
Ten-year Treasury Yield +10 bps to 1.78%
Notable earnings before today's open: ABG, ADP, ARCB, BSX, CKSW, CLX, CTSH, EVR, GM, GWPH, HAIN, HUM, LFUS, LG, LVLT, MOD, MPC,MPLX, MRK, MSI, NJR, RL, SE, SLAB, SMG, SNE, SO, STE, TMHC, WHR
Notable earnings after today's close: ACXM, ADEP, AFFX, AFOP, ALL, APU, ATML, AWH, BDN, BGC, BKD, BMR, CATM, CBG, CDNS, CEB, CINF,CLW, CMRE, CNW, DATA, ENS, EPM, ESS, EXAR, FBHS, FEIC, FMC, FORM, FOXA, G, GEOS, GIL, GLUU, GMCR, GPRE, HI, HUBG, ININ, IRBT, LCI,LNC, MAA, MAC, MTGE, MTRX, MUSA, NE, NXPI, ORLY, OSUR, PAA, PAGP, PMT, PNNT, PRE, PRU, PSEC, QUIK, RE, RRTS, RXN, SPB, SU, SYA,THG, TTMI, TWO, TYL, UA, UGI, UHAL, WFT, WGL, WSTL, YUM
Best of Success!
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