Well The markets here opened green and stayed green. The SMH helped that cause as we got rumors of a mammoth merger between AVGO and BRCM. We mentioned over the weekend that the Semi sector was looking poised for a breakout and potential continuation. This merger should make the space pretty hot so keep an eye out for sympathy plays. MRVL, RMBS MU CY are a few that come to mind.
China finally showed signs of a bubble releasing some air last night with the Shanghai index dropping a whopping 6.5 percent to record its worst session of 2015. For an index that is up nearly 50 percent in 6 months there may be more room on the downside so bee careful if you are playing in that space.
Yesterdays pop in the markets could be attributed to the rumor flying around that Greece may have come to an agreement with the EU. EU officials have put the kibosh on that rumor denying that a deal is near.
The markets were fun yesterday and we could start seeing more volatility as rumors fly and mergers pop up. Just make sure you have a plan for your trades. Know why you are taking it and what type of trade it is going to be. Do not let a swing become an investment or a day trade to turn into a swing. Create your plan, figure out your risk reward and execute your plan.
Stocks on my radar premarket
ENZN like the daily took it for a swing yesterday looking for potential continuation, BIOC gapper off pr thin float be careful likely to need to do an offering soon, OCLR potential continuation recent insider buying a bit extended on the daily, ATNM pr but it has already had a nice move but still worth watching maybe for a quick scalp, ACW could be in a good bounce spot with long term contract announcement, PLUG reaffirms guidance really looks like it wants to take out 3, ECOL reaffirms guidance nice looking daily could be in a good bounce spot off 200 day, RRD pr a cross of 20 with conviction might be fun but its overbout on the daily, NVGN patent news possible 6 roll, EGLT another one with pr and a potential bounce off the 200 day, PLAY priced secondary @ 31.50 daily still looks pretty hot,
CNBC in the News
IN THE NEWS TODAY | |
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Today's Markets:
In Asia, Japan +0.4% to 20551. Hong Kong -2.2% to 27454. China -6.5% to 4620. India -0.2% to 27507.
In Europe, at midday, London +0.2%. Paris -0.4%. Frankfurt -0.3%.
Futures at 6:20: Dow -0.1%. S&P -0.1%. Nasdaq -0.1%. Crude +0.4% to $57.75. Gold +0.2% to $1188.30.
Ten-year Treasury Yield flat at 2.13%
In Asia, Japan +0.4% to 20551. Hong Kong -2.2% to 27454. China -6.5% to 4620. India -0.2% to 27507.
In Europe, at midday, London +0.2%. Paris -0.4%. Frankfurt -0.3%.
Futures at 6:20: Dow -0.1%. S&P -0.1%. Nasdaq -0.1%. Crude +0.4% to $57.75. Gold +0.2% to $1188.30.
Ten-year Treasury Yield flat at 2.13%
Today's economic calendar:
8:30 Initial Jobless Claims
9:45 Bloomberg Consumer Comfort Index
10:00 Pending Home Sales
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
11:30 Results of $13B, 2-Year FRN Auction
1:00 PM Results of $29B, 7-Year Note Auction
3:00 PM Farm Prices
4:30 PM Money Supply
8:30 Initial Jobless Claims
9:45 Bloomberg Consumer Comfort Index
10:00 Pending Home Sales
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
11:30 Results of $13B, 2-Year FRN Auction
1:00 PM Results of $29B, 7-Year Note Auction
3:00 PM Farm Prices
4:30 PM Money Supply
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