Thursday, April 30, 2015

Happy Draft Day !

Good morning folks, 
Markets continue to trade in a range with many company charts testing or breaking thier longer term trend lines. HD,PLAY, GRUB, LMT, FB to name a few. The IBB continues to look weak and the BIS ultra short short ETF looks like it may want to break out. The IYR broke its long term uptrend and is testing the 200 day along with the IYT. IWM, as many of you know, I watching that 122 area if we lose that things could get a little uncomfortable for the longs. Sell in May and go away is just around the corner. Will it become a self fulfilling prophecy? We shall see but I have to say things aren't looking really bullish from a technical standpoint in several sectors. 

The one sector that continues to show a bit of strength is the energy sector the ERX, XLE UWTI and USO all have nice looking daily charts. GLD pulled back a little yesterday after the GDP numbers and the Fed announcement lets see if that follows through today.

We have another packed day of earnings and if they miss they are being taken to the woodshed just take a look at YELP for example. TWTR hit the 3 handle and looks like it could head even lower. I am keeping any eye on the the 36 or 35.50 level to see if it holds. Keep an eye on volatility and some of the short ETF's for potential trade opportunities if the markets really roll over TZA UVXY TVIX SQQQ to name a few.

Stocks on my Premarket Radar
GLUU had some pr after the close already gapped see it it gets some follow through, ARWR pr could be a bouncer, TASR earnings killed it testing 52 week highs possible continuation DGLY could move in sympathy, ISR potential continuation already a swing for me from 1.66 be nice to get a 2 dolla holla, WWE nice earnings beat doing the flying body slam on the shorts this morning, SMMT super thin name recent IPO with some patent news and a nice move yesterday potential red to green be very careful, UTSI contract news could be a good another super thin one look for some volume but do not chase this one, INUV ripping off earnings premarket nice bounce spot on the daily possible 3 roll, WGBS research collaboration with Genentech announcement look for a 5 dolla roll, 
CNBC in the NEWS

Another busy morning for earnings includes numbers from Dow componentExxon Mobil (XOM). Dow component Visa (V), as well as AIG (AIG), lead this afternoon's after-the-bell reports. (CNBC)
U.S. stock futures were lower in early trading, with traders quickly shifting focus from the Fed meeting to the upcoming April jobs report, as the next possible source of clues on the timing of interest rate hikes. (CNBC)

In the policy statement after its April meeting, the Fed removed all calendar references to a possible move, while downplaying soft first-quarter economic growth. (CNBC)

U.S. oil prices hit a five-month high this morning, after adding 3 percent in New York trading Wednesday. Meanwhile, the euro rose today for a third session against the dollar. (Reuters)

Shares of Yelp (YELP) fell sharply in premarket trading, after reporting an unexpected quarterly loss, disappointing revenue numbers, and weak forward guidance. (Reuters)

Apple (AAPL) reportedly found defects in the wrist-tapping component of itsrecently released Apple Watch. Meanwhile, Apple Watch early-adopters are complaining that many key functions are disrupted by their tattoos. (WSJ & Reuters)

Apple could face "material" financial penalties from the European Commission's investigation into its tax deals with Ireland-the first time the tech giant has disclosed potential consequences. (FT)

Microsoft (MSFT) is targeting a tripling of annual revenue from its cloud-computing businesses to $20 billion in three years. Meanwhile, the software giant is helping developers transfer apps to run on Windows Phones that were originally written for Android devices or iPhones. (Reuters)

In its usual grand fashion, Tesla (TSLA) is hosting a big media announcementtonight that's expected to focus on home and industrial storage batteries. (USA Today)

General Motors (GM) is expected to announce today a multibillion-dollar, multiyear investment in several U.S. manufacturing plants, in a move to boost production and vehicle quality. (Reuters)

Goldman Sachs (GS) is becoming the first major bank to make a significant investment in a Bitcoin-focused company, giving a vote of confidence to the embattled virtual currency. (NY Times)

The value of Yahoo (YHOO) CEO Marissa Mayer's pay package surged last year, mostly due to gains in the Internet company's stock price. Mayer's 2014 compensation increased 69 percent to $42.1 million. (AP)

Ten million people are opening the Whisper app every month. The announcement came on the same day competitor Secret, a similar confessional app, said it's shutting down. (Re/code)

Economic data could potentially change the market's direction, with two key reports out at 8:30 a.m. ET. Economists expect the weekly initial jobless claims report to show 288,000 new filings for last week. Meanwhile, forecasts call for a 0.2 percent rise in March personal income, with consumer spending up 0.5 percent.
At 9:45 a.m. ET, the Chicago purchasing manager's index is expected to come in at 50.0 for April, up from the 46.3 reading in March. Fifty is the level that separates growth from contraction in that monthly survey. Then at 10:30 a.m. ET, the Energy Department is out with its weekly look at natural gas inventories.

Royal Dutch Shell (RDS.A) today reported a lower-than-expected 56 percent drop in first-quarter net income at $3.2 billion, as refining and trading profits offset a decline in earnings from oil and gas output.

Nokia (NOK) today reported earnings that came in well below forecasts at its main network equipment business. Meanwhile, a major Alcatel-Lucent (ALU) shareholder is criticizing the terms of Nokia's planned buyout of the French telecom equipment maker.

Japanese consumer electronics maker Sony (SNE) expects operating profits to more than quadruple this fiscal year, boosted by strong sales of camera sensors and cost cutting.
Royal Bank of Scotland (RBS) set aside $515 million for an expected settlement with U.S. authorities over foreign exchange manipulation charges.

Bank of America (BAC) will pay $180 million to settle a lawsuit by private investors, who had charged that the bank manipulated foreign exchange rates. (CRM) is working with financial advisors to help it field takeover offers, according to Bloomberg, which said the software company had been approached by a possible bidder.
Seeking Alpha
Today's Markets:
In Asia, Japan -2.7% to 19520. Hong Kong -1% to 28133. China -0.8% to 4442. India -0.8% to 27011.
In Europe, at midday, London flat. Paris -0.3%. Frankfurt flat.
Futures at 6:20: Dow -0.4%. S&P -0.3%. Nasdaq -0.5%. Crude +0.5% to $58.87. Gold -0.7% to $1202.10.
Ten-year Treasury Yield +6 bps to 2.04%