Today Could Be All About Yellen

Good morning folks,

Yesterday was another day of choppy action as the economic data that we have been getting after Fridays GDP gives us some mixed signals on the strength of our economy. 

Fortunately we have Janet Yellen speaking today and I am confident she will clear everything up so that we know precisely where the economy stands and exactly what the Fed has planned to normalize our markets, reduce our debt and stimulate growth. Then she is going to waive her magic wand and everything will be sunshine and rainbows with world peace and flying unicorns. Wouldn't that be AWESOME>>?

That speech takes place at the Economic Club of New York at 12:20pm ET.

Reality is, we will probably be more confused after Ms. Yellen is done. Over the last week Fed members have been signalling they are ready to raise rates as early as April. If Yellen comes out extremely dovish (like she was just a few weeks ago) the market won't have a clue as to what should be expected from monetary policy.

Oil is looking weak premarket and I am starting to see more headlines from some of the smaller players in the sector of bankruptcy filings, restructuring of debt and credit facilities. It appears as though the other shoe is beginning to drop. If these filings start to accelerate and they involve some larger more recognizable names  it could put some significant pressure on the sector. Financials could also react negatively so pay close attention to both sectors.

With all the things going on around the world> last weeks attack in Brussels, yesterdays event on capital hill, the hospital chain that was shutdown by some type of computer virus ETC.... the markets have been holding up better than I would have expected. 

Today's Economic Calendar

5:15 Fed's Williams: Monetary Policy and Global outlook
8:55 Redbook Chain Store Sales
9:00 S&P Case-Shiller Home Price Index
10:00 Consumer Confidence
10:00 State Street Investor Confidence Index
11:30 Janet Yellen speech
1:00 PM Results of $34B, 5-Year Note Auction

ETF's on my Radar 

Volatility & SPY                                     OIL                                                  Biotech
UVXY XIV VXX TVIX SPXS SPXL      UWTI DWTI GUSH DRIP         LABD IBB LABU      

 Gold                                SILVER         Dollar                                Financials

GLD NUGT JNUG             USLV          UUP                                 FAS XLF FAZ

Minerals and Miners                   Utilities           RETAIL                    Transportation 

XME GDX GDXJ                      XLU             XRT                         IYT  XTN

DUST JDST  

Stock on my Radar Premarket 

*pr = Press Release

ATRS FDA approval> potential dolla holla recent insider buying 
BLRX positive topline results gapping premarket 
JMP insider buy 26k 5.01 a share 
VTVT Perlman bought 10k shares 5.64 a share 
KERX Phase 3 met primary endpoint gapping premarket 
SYMX potential continuation off yesterdays pr full disclosure took some for a short term swing yesterday
PRIM contract announcement 

JEC contract award 
TROV big drop off CEO and CFO termination may present a snap back day trade but very risky 

This weeks Stocks to watch list and how they are tracking