Good morning folks,
We had a nice bounce in the markets yesterday the IBB and the IWM continue to hold up incredibly well. Oil took out new lows and we are even lower in premarket with some calling for an additional 10 dollar drop per barrel. I have no Idea if that is where we are heading. what I do know is that there is no reason to try and be a hero in the oil and try to catch a falling knife. Airlines look strong as oil falls to new lows like AAL which was just added to the SP500 yesterday in contrast the alternative energy names are under pressure.
We are flashing some red premarket > We have the Fed meeting starting today and the official Fed statement tomorrow. The markets could be in limbo until the official statement is released. We also have Fed Ex reporting on Wed which could set the tone in other trucking/ shipping names.
Stocks on my Radar
IDTI nice daily pr could test 21 could be more of a swing, IRIX thin stock so be cautious pr this morning could get a pop over 10 or test 52 week highs big cup and handle on the daily, SSH pr bottom bounce ?, EGLT pr possible 20 day ma bounce nice uptrend on the daily small float careful, APDN pr very thin the news is more like fluff but it could bounce off 3, MGM pop on chatter of conversion to a REIT more of a long term hold chatter is not new but it looks like it mat be sticking,
 | IN THE NEWS TODAY |
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| U.S. stock futures were lower in early trading, after Monday's powerful rally erased all of last week's declines ahead of this morning's start of the Fed's two-day meeting. (CNBC) |
| When central bank policymakers wrap things up tomorrow, it's widely expected they'll signal an end to the era of near zero interest rates, for the first time in more than six years. (CNBC) |
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| The 38 respondents in the CNBC Fed Survey-including economists, analysts, and money managers-see the first rate hike coming in August, a month earlier than the prior survey indicated. (CNBC) |
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| The dollar was generally lower this morning, as investors wondered whether the greenback's rapid rise could prompt the Fed to be a little more cautiousabout raising rates this year. (Reuters) |
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| Oil prices continued to tumble this morning-under pressure on speculation there could be a nuclear deal with Iran, but also from high levels of U.S. supply. (CNBC) |
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| Concerns a nuclear deal with Iran could end sanctions on that country and flood an oversupplied market with oil are "unduly bearish," the managing director at Clearview Energy Partners told CNBC. |
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| Apple (AAPL) is said to be in talks to launch an online TV service-working with programmers to offer this fall a bundled service of about 25 channels on devices such as Apple TV. (WSJ) |
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| Less than a year after being valued at $5 billion, Pinterest has raised another $367 million in a new round of financing-putting the online scrapbooking startup's valuation at $11 billion. (NY Times) |
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| Uber CFO Brent Callinicos is stepping down to spend more time with his family, the online taxi service's CEO said in an e-mail to investors. The company has not named a replacement. (Reuters) |
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| House Republicans plan to unveil today a proposed budget for 2016, including partly privatizing Medicare and repealing Obamacare. (NY Times) |
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 Purdue University President Mitch Daniels, the former governor of Indiana and one-time GOP star, joins CNBC's "Squawk Box" at 8 a.m. ET to talk about the budget fight on Capitol Hill and the need for education reform. |
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| Israelis were voting in parliamentary elections today, after a heated campaign ended with a last-minute pledge by Prime Minister Benjamin Netanyahu to prevent the establishment of a Palestinian state. (CNBC) |
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| BY THE NUMBERS |
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| The Bank of Japan today maintained its massive stimulus program, but offered a slightly more downbeat view on the price outlook that policymakers there blamed on the decline in oil. |
| As the two-day Fed meeting gets underway today, investors get the government's February housing starts report at 8:30 a.m. ET. Economists expect to see a drop of 2.3 percent, following a 2 percent decline in January. |
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| Retailers Burlington Stores (BURL) and DSW (DSW) are among the companies releasing earnings this morning, along with financial information provider FactSet (FDS). Oracle (ORCL) and Adobe Systems (ADBE) highlighttoday's after-the-bell releases. |
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| American Airlines CEO Doug Parker joins us at 8 a.m. ET from the Chamber of Commerce Foundation's annual Aviation Summit in Washington, D.C. |
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| On this St. Patrick's day, there's word Irish-based Ryanair (RYAAY), Europe's largest discount airline, will begin flights to the U.S., and plans to sell some seats for less than $15 each way. |
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| STOCKS TO WATCH |
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| New Jersey lawmakers have approved legislation to allow Tesla (TSLA) to restart direct sales at its two state showrooms. The bill goes to Republican Gov. Chris Christie, who has expressed support in the past for the electric car company's plight. (NJ.com) |
| Walt Disney (DIS) is in talks to invest in fantasy sports site Draft Kings, according to Fortune magazine. The service, which allows users to legally bet real money, is in the midst of a new round of funding at a valuation of at least $1 billion. |
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| Apple is planning to launch a new trade-in program to allow non-iPhone users to trade in their non-Apple device for a gift card that can be used to purchase an iPhone, according to 9to5Mac. |
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Seeking Alpha
Today's Markets:
In Asia, Japan +1% to 19437. Hong Kong -0.2% to 23901. China +1.6% to 3503. India +1.1% to 28736.
In Europe, at midday, London +0.3%. Paris -0.3%. Frankfurt -1%.
Futures at 6:20: Dow -0.2%. S&P -0.3%. Nasdaq -0.2%. Crude -1.6% to $43.18. Gold +0.1% to $1154.40.
Ten-year Treasury Yield -1 bps to 2.1%
Best of Success!
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