Thursday, April 23, 2015

I'm Back

Good morning folks, 
I have been away from the markets the last several days and it looks like I missed out on some nice trades however my absence could not be avoided. Since that business has been handled, I can get back to doing what I love! 

The markets staged a nice rally after Fridays drop last week and the NASDAQ is nearing its all time highs. Earnings thus far seem to be coming in better than anticipated and the existing home sales number yesterday was also better than expected raising the possibility of a rate hike. Consequently Gold and Silver both took a hit while the financials look fairly compelling. While oil appears to be taking a breather and pulling back a bit.

China's market continues to rip as retail investors are jumping in with both feet even though the economic numbers coming out of China have been much weaker than expected.

We get a flood of earnings today so lets see if we can keep the generally positive tone in the markets as we move through them.  

Even though I was unable to day trade over the last few days, I did pick up a little FEYE & GE. I like them both and wanted to start building my position in my long term hold account. I will be adding to those positions on any weakness if the opportunity presents itself.       

Stocks on my Radar Premarket 
ENZN Another Carl Icahn play that had a late day rally could get some continuation, GTXI pr and a little insider buying if it clears 80 cents with conviction we could get a dolla holla, ARRS pr gapper nice range break I wouldn't chase it, TROV watching for support entry for swing, ideally closer to eight for entry. TWTR is looking really constructive very tempting to start building a swing with earnings likely going to make or break it, TASR puttin in nice flag after hitting new highs, 

CNBC in the News 

Dow stocks 3M (MMM), Caterpillar (CAT), and Procter & Gamble (PG) are among the dozens of companies out with earnings this morning. Dow component Microsoft (MSFT), along with Amazon (AMZN) and Google(GOOG) release quarterly results after the bell. (CNBC)
Caterpillar Chairman and CEO Doug Oberhelman joins CNBC's "Squawk Box" at 8 a.m. ET to break down the heavy-equipment maker's earnings and see what they might indicate about the overall economy.

Facebook (FB) late Wednesday reported mixed results-earnings that beat expectations and revenue that just missed. But the social media giant announced strong user growth and more than 4 billion daily video views. (CNBC)

U.S. stock futures were lower in early trading, after a bounce backWednesday on Wall Street on positive reaction to earnings. The S&P 500 andNasdaq approached all-time highs, while the Dow has a bit further to go. (CNBC)

Petrobras (PBR) lost $8.8 billion in the fourth quarter after taking a write-down of $16.8 billion due to what the Brazilian oil giant described as corruption and other disruptions. (CNBC)

As the Russian atomic energy agency gradually took charge of a company that controls one-fifth of all uranium production capacity in the U.S., a stream of cash made its way to former President Bill Clinton's charitable organization. (NY Times)

The FCC's staff has reportedly recommended the agency hold a hearingover Comcast's (CMCSA) proposed $45 billion acquisition of Time Warner Cable (TWC). (WSJ)

Some Apple Watch buyers who thought they would have to wait until Junewill get their gadgets sooner. | Apple (AAPL) watches may not be in Apple stores to purchase tomorrow, but select fashion boutiques around the worldhave their own stock . | Stars showed off their Apple watches. (Reuters & NY Times)

A group of small banks and credit unions, suing Target (TGT) over its massive 2013 data breach, is moving to block the retailer's proposed $19 million settlement with MasterCard (MA). (Reuters)

Chinese antitrust regulators have fined Mercedes-Benz about $57 million, accusing the company of fixing prices on luxury cars and some spare parts, the latest big-ticket penalty for a foreign carmaker in China. (NY Times)

Billionaire Elon Musk earned less last year as CEO of Tesla Motors (TSLA) than many of the electric automaker's workers, receiving total compensation of just $35,360. (USA Today)

Ray-Ban has asked Sen. Rand Paul's presidential campaign to stop selling the brand's Wayfarer sunglasses, which Paul had imprinted with the "Rand" logo. (The Hill)

China's manufacturing activity fell to a one-year low in April. The weak numbers lend further credence to the government's move over the weekend to stimulate the economy.
In addition to a busy earnings day, investors get four reports on the U.S. economy: weekly jobless claims at 8:30 a.m. ET; April flash manufacturing PMI at 9:45 a.m. ET; new home sales for March at 10 a.m. ET; and the Kansas City Fed survey at 11 a.m. ET.

AT&T (T) topped estimates by a penny, but revenue came in light as core subscribers declined.
EBay (EBAY) earnings and revenues beat estimates, boosted by transaction growth and corporate cost control.

Chipmaker Qualcomm (QCOM) beat on the top and bottom lines, but forward guidance came in light.

Texas Instruments (TXN) missed earnings and revenue forecasts, while reporting weaker second-quarter guidance.

Seeking Alpha
Today's Markets:
Asia: Japan +0.3%. Hong Kong -0.4%. China +0.4%.
Europe at midday: London +0.2%. Paris -0.5%. Frankfurt -0.6%.
Futures at 6:10: S&P -0.2%. Dow -0.2%. Nasdaq -0.2%. Crude -0.3%. Gold +0.1%.