Thursday, March 24, 2016

Which Way Will The Markets Resolve?


Good morning folks, 
Yesterday we had some weakness across the board and if you believe in technical's it is happening exactly where it should be expected. I almost did a special video last night but figured I would wait till tonight since this is the last trading day of the week due to the Good Friday holiday. I would expect today to be a low volume day and I am not expecting to get a clear direction and confirmation until next week. 

Thanks to the Fed jawboning this week about a rate hikes as early as April, the dollar showed a bit of strength which put pressure on gold and other commodities. Oil had a bigger than expected build in inventory and we had  a couple executives from two large oil and gas producers saying that it could take 2 years or more for the oil industry to normalize. We talked about it in last weeks market wrap that the oil and gas industry still has a tremendous amount of headwinds that will likely keep the sector depressed. We had a nice oversold snap back but that party may be over for now. 

The IBB pulled back after a few nice days of money rotating from one sector to another but it was unable to keep the momentum going as it approaches potential resistance. 

Volatility, which has been almost non existent lately, started perking up yesterday and that could carry over to today and get more intense into next week if the markets give us a significant pullback.  With that being said TVIX and UVXY move back onto the radar for those short term scalp opportunities and if we get confirmation that we are looking at an extended  pullback then short term swings may work there as well. 

Some of the high flying global ETF's also experienced a pullback yesterday and that is not a big surprise after the tragic event in Brussels.  


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

HTBX insider buy 900k @ .75 cents 
MACK PR recent insider buys as well from the 5.5 to 7.20 range PTLA Phase 3 Fail >Currently haltedFMI Pr potential 17 roll
KBH earnings beat potential red to green and 14 dolla round number roll 14.37 or so could be resistance 
CMC earnings beat and raise more of a swing type ran into earnings 14 could be ideal entry for a swing  
AMKR PR testing trendline on the daily 

This weeks Stocks to watch list and how they are tracking


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