Good morning folks,
Could this be the well deserved, highly anticipated, beginning of some type of pullback?
It is possible but the problem is that it seems to be the general consensus out there. Usually when the masses are all expecting one thing, the market does the opposite making fools out of false prophets.
I have been fooled on more than one occasion and I can assure you, I will be fooled many more times in the future.
The one thing you can do that gives you a fighting chance of recognizing a change in sentiment and a shift in market momentum is to pay attention to volatility. The VIX below 13 is considered low people are feeling a bit too comfortable and complacency has set in. When the VIX reaches 20 and above there is a bit more panic out there. The VIX is often called the FEAR indicator and when it rises as traders and investors start reacting with more emotion to their trades because of swift whipsaws in the markets. Volatility can create some wild swings and great trading opportunities if you are on the right side of the moves. I always have TVIX VXX and the VIX--X at the bottom of one my monitors to keep my finger on the pulse of volatility and potentially take advantage of a change in emotion. There are no silver bullets out there but there are a few things that can help you navigate market conditions and watching volatility, at least for myself, is one of them.
We have lots of economic data hitting the wires today so we could get some mixed signals. As always be careful out there. Have a plan with good risk reward and execute solid discipline.
Stocks on my radar
NVGN pr Gapper, RAD more of a swing nice daily, EFUT earnings beat and gap can be a pop and flopper so be careful, NBS nice looking daily testing 4, LXRX earnings and pipeline update dolla roll, CERE penny plat potential continuation, SWHC earnings gappin up its up alot into earnings I would not chase it, UEPS hot daily pr possible 14 dolla holla, AMBA earnings winner gapper big short position could get a little squeeze on, CDXS earnings possible 4 test, SIRI thick stock more of a swing or long term hold closed over 4 nearing a test of 52 week highs, KBIO active premarket potential dolla holla but it is a bit extended so be careful, CNDO pr gapper look for a setup don't chase it,
USO UUP TVIX TZA IBB IWM DUST NUGT SPY NDAQ For sentiment
CNBC in the NEWS
 | IN THE NEWS TODAY |
 | |
|
| The recent stock surge which saw the Nasdaq surpass 5,000 is at least temporarily on hold, with the S&P 500 coming off its biggest one-day drop since January 30. A combination of record highs and two key employment reports appears to be enough to give investors pause, withfutures pointing to an extension of yesterday's losses at the open. |
| Brent crude futures are holding above $60 a barrel after top exporter Saudi Arabia said on Tuesday it would raise the official selling price for its oil shipments to Asia and the United States. Traders will be watching the Energy Information Administration's report on U.S. crude inventories due at 10:30 a.m. ET today. (Reuters) |
|
| Federal Reserve Chair Janet Yellen criticized the culture at the nation's biggest banks on Tuesday, saying "pervasive shortcomings" in their values "might undermine their safety and soundness." In a speech in New York City, Yellen said the Fed expects banks to follow the law and act ethically. (CNBC) |
|
| Indian stocks surged to record highs after the Reserve Bank of India on Wednesday unexpectedly cut rates for the second time this year. The central bank lowered its benchmark repo rate by 25 basis points to 7.5 percent, citing easing inflation and the government's commitment to fiscal discipline. (CNBC) |
|
| Target will cut several thousand jobs over the course of the next two years as part of a $2 billion restructuring. The retailer also expects digital sales to increase 40 percent this year and same-store sales between 1.5 and 2.5 percent. (CNBC) |
|
| Sony announced it will release a virtual-reality headset called Project Morpheus for its PlayStation 4 system next year. The headset will compete with Facebook 's Oculus Rift and HTC's Vive, which will hit the market later this year, the Taiwan-based tech company said on Sunday. (CNBC) |
|
| Chipmaker Nvidia (NVDA) said it will enter the streaming video game and TV space with Shield, an Android-based set-top box that costs $199. The device will launch in May and is powered by a graphics processor that Nvidia claims has twice the performance power of the Xbox 360. (CNBC) |
|
| Comcast's NBCUniversal plans to introduce a subscription streaming video service focused on comedy this year, sources told the Wall Street Journal. The launch is seen as a play to reach a younger audience that is foregoing traditional cable packages for web-enabled services. NBCUniversal is CNBC's parent company. (WSJ) |
|
| Japan's transport ministry has banned Uber's month-old pilot project in the southern city of Fukuoka, saying the ride-sharing service violated regulations by using cars registered for personal use as taxis. Uber also operates in Tokyo, but directs users to licensed taxis and drivers there. (Reuters) |
|
| DuPont rejected a request to change the way directors are elected, as disagreements escalate between the company and activist investorNelson Peltz's Trian Fund Management. Peltz has been pushing for "universal proxy," which lets shareholders split votes between company-backed directors and those nominated by activists. (Reuters) |
|
| A major system is forecast to bring freezing rain to the East Coast after hitting the Rockies and northern Texas on Tuesday. A severe weather watch was issued for about 47 million Americans Wednesday as the storm threatened to dump ice and record-setting snow on Kentucky, the Ohio Valley and southern Plains. (NBC News) |
|
|
| BY THE NUMBERS |
| |
|
| The first of two key jobs reports comes this morning at 8:15 a.m. ET, when ADP releases its February look at private sector employment. Economists think the U.S. added 218,000 private sector jobs last month, compared to 213,000 in January. |
| At 10 a.m. ET, the Institute For Supply Management is out with itsFebruary non-manufacturing index, a measure of the U.S. services economy. Consensus forecasts call for a reading of 56.1, down slightly from January's 56.7. |
|
| At 2 p.m. ET, the Federal Reserve is out with its "Beige Book", the region-by-region assessment of the U.S. economy. |
|
| Weekly reports out today include mortgage applications from the Mortgage Bankers Association at 7 a.m. ET. |
|
|
| STOCKS TO WATCH |
| |
|
| TiVo is among our stocks to watch, with the maker of digital video recorders reporting quarterly profit of seven cents per share, three cents above estimates. Revenue also beat forecasts on a rise in customer subscriptions. |
| Smith & Wesson earned an adjusted 20 cents per share for its latest quarter, nine cents above estimates, and revenue was also above analyst forecasts. The firearms maker also raised its guidance for the full year on rebounding demand for consumer handguns. |
|
| Bob Evans Farms has decided not to sell or spin off its foods unit, although it has hired JPMorgan Chase to advise on options for its real estate. The restaurant operator also reported a weaker-than-expected profit for its latest quarter, earning an adjusted 60 cents per share compared to a 71 cent consensus estimate. Revenue also fell short of analyst forecasts. |
|
| Apple is exploring a settlement with electric car battery maker A123 Systems, according to a court filing. A123 had accused Apple of poaching top employees. |
|
Seeking Alpha
Today's Markets:
In Asia, Japan -0.6% to 18704. Hong Kong -1% to 24465. China +0.5% to 3279. India -0.7% to 29381.
In Europe, at midday, London -0.3%. Paris flat. Frankfurt -0.3%.
Futures at 6:20: Dow -0.4%. S&P -0.4%. Nasdaq -0.3%. Crude +0.5% to $50.79. Gold flat at $1203.90.
Ten-year Treasury Yield +3 bps to 2.12%
Notable earnings before today's open: AEO, AMED, ANF, ARQL, ATHM, BF.B, DSX, GTXI,HYH, INXN, LXRX, MTLS, PETM, SCMP, SOL, SSP, TOUR, TSL, W
Notable earnings after today's close: ALIM, ALSK, BIOL, BREW, CPE, DAR, ERJ, GEF, GTY,HRB, JONE, PEIX, POWR, PPO, PQ, RNDY, SMTC, SPOK, SQNM, VSLR, WTI
Best of Success!
No comments:
Post a Comment