Good morning Folks,
The banks passed the stress test yesterday after the close mergers and acquisitions in the biotech space continue and the markets continue to consolidate.
Bubble appears to be the word of the month as it seems like I keep hearing it over and over and over and over and................over again.
I really don't see a bubble across the board. There are some companies where valuations are a bit stretched but there are also a lot of companies where I think valuations are too low.
The Biotech sector definitely has some froth in it within the small and midcap space where the companies have no earnings and are years away from having an approved drug.
However, that is where the momentum is and you can make some very nice trades in the space. Just be careful if you dip your toe and recognize that they are good trading opportunities and not investments. They often dilute the shares after a nice fluff press release. If you want to hold shares overnight do it with lotto shares. If you took a trade in a small bio made some dough but you think the run may not be over then hold a small amount. I don't care if its 10 shares. It should be a small enough amount of shares that if it goes to zero you still make a profit on the original trade. If the stock runs another 5 bucks then you bank another 50 bucks. Who wouldn't like 50 bucks? Anybody ever hit the laundry lotto?
We have employment numbers today and that could set the tone for the day.
Stocks on my Radar
PEIX possible continuation, CALA pr last night big gapper Don't chase it, CTIC looking for a three dolla holla, SSH big gap down possible bounce play, CRIS hot daily possible continuation, REXX gapper nice daily don't see any news yet, NEOT recent IPO 8 dolla roll thin one be careful not sure why its poppin, RVLT possible continuation, NTLS possible continuation, FEYE looking to dip the toe for another swing, URG dolla holla continuation, AGEN daily looking pretty hot needs some volume though, AVEO pr possible continuation, POWR possible continuation off nice earnings, VIP daily looks hot more of a swing, YY gapper, ZIXI possible continuation
There are more out there but don't want to overwhelm everyone
TVIX TZA USO UUP DUST NGUT IBB IWM NDAQ SPY for sentiment
CNBC in the News
 | IN THE NEWS TODAY |
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| U.S. stock futures were searching for direction in early trading, ahead of the 8:30 a.m. ET release of the February jobs report. Wall Street broke a two-day losing streak Thursday, with the Dow and S&P 500 close to breakeven and the Nasdaq up nearly a half of percent for the week. (CNBC) |
| Economists expect nonfarm job growth of 240,000 for last month-below a three-month trend that was the strongest pace of hiring since the 1990s. The unemployment rate is seen ticking down to 5.6 percent. (CNBC) |
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| Fed policymakers should not wait too long to raise interest rates, because the risk of overshooting on inflation could force more dramatic hikes, saidSan Francisco Fed President John Williams. (Reuters) |
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| After the ECB announced its massive quantitative easing campaign would start Monday, the euro Thursday fell below $1.1000 for the first time since September 2003. In early trading today, it remained under pressure. (CNBC) |
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| Google's (GOOG) planned wireless service may launch by the end of March, but will work only on the company's latest Nexus smartphone and not on other phones using Google's Android operating system. (WSJ) |
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| Amazon (AMZN) has opened an online store on Alibaba's (BABA) business-to-consumer platform Tmall, in a move that analysts say willboost awareness of its brand in China. (CNBC) |
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| Billionaire investor Mark Cuban is warning of a private tech bubble more dangerous than the bubble in publicly-traded companies that burst 15 years ago. (CNBC) |
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| Following a similar pledge by McDonald's (MCD) earlier this week, Costco(COST) said it wants to eliminate chicken and meat that are grown with human antibiotics. (Reuters) |
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| In the latest derailment involving trains hauling crude oil, a BNSF Railway train loaded with crude jumped the tracks Thursday afternoon in Illinois, with two of the tank cars catching fire. (Reuters) |
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| Federal regulators are looking into what caused a Delta Air Lines jetliner with 127 passengers and five crew members aboard to skid off the runway at New York's LaGuardia Airport on Thursday during a snowstorm. (CNBC) |
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| Actor Harrison Ford, 72, was "battered, but OK" after the vintage World War II training plane he was piloting crash landed on a California golf course Thursday. (NBC News) |
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| BY THE NUMBERS |
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| The January trade deficit is out at the same time as the jobs report at8:30 a.m. ET, with economists looking for a shortfall of $41 billion compared to December's $14.8 billion gap. |
| This afternoon, investors get a look at how much consumers are borrowing, and what types of loans they're taking. Consumer credit, out at 3 p.m. ET, is expected to rise $14 billion in January after December's $14.8 billion. |
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| Retailers Big Lots (BIG), Staples (SPLS), and Foot Locker (FL) are among the few companies releasing earnings this morning . No major companies are scheduled to issue quarterly results after today's closing bell. |
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| Gap (GPS) late Thursday reported February same-store sales down 4 percent. Analysts had expected the parent of Old Navy, Gap, and Banana Republic to post a 1.4 percent increase. |
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| STOCKS TO WATCH |
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| Life Time Fitness (LTM) is in advanced talks to be bought by private equity bidders, according to the Wall Street Journal. |
| SAP (SAP) is cutting 2,250 jobs, about 3 percent of its workforce, while creating a similar number of jobs in other parts of the software company deemed growth areas. |
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| Wynn Resorts (WYNN) co-founder Elaine Wynn has filed proxy materials for re-election to the company's board. The company has been seeking to block the ex-wife of chairman Steve Wynn from returning as a director. |
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| MGM Resorts (MGM) will begin construction on an $800 million Springfield, Massachusetts casino and resort on March 24. |
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Seeking Alpha
Today's Markets:
In Asia, Japan +1.2% to 18971. Hong Kong -0.1% to 24164. China -0.2% to 3242. India +0.2% to 29449.
In Europe, at midday, London -0.2%. Paris flat. Frankfurt +0.1%.
Futures at 6:20: Dow -0.1%. S&P -0.1%. Nasdaq +0.1%. Crude +0.5% to $51.08. Gold -0.4% at $1193.51.
Ten-year Treasury Yield -1 bps to 2.12%
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