Wolf Wake Up!

HAPPY SAINT PATRICK'S DAY!

Good morning Folks,


Janet Yellen was much clearer yesterday than she was in the last Fed statement and the market celebrated after the announcement. 
Whether that celebration was justified is yet to be determined. If you think about what happened it wasn't exactly screaming positive messages about the state of our economy or the strength of the global economy. To many economists it appears as though the Fed is losing credibility since they seem to backing away from their own strategy of raising rates based on our economic data and specific parameters that have already begun to show up in recent reports. My personal opinion is the Fed has no clue! 

The strength of gold and the weakness in the dollar continue to send  (in my opinion) could be an ominous message about the future. I am not trying to be a fear monger but I do have to be a realist. At some point all this central bank action that is happening here and around the globe will catch up with and at some point printing money, extremely low or negative interest rates are not sustainable practices for healthy economies. Continue watching gold and the minerals and miners in particular. The XME had a very nice move yesterday and could get some nice follow through. The daily chart is HOT!!!

Oil was also strong yesterday on the news of a meeting next moth between OPEC and the rest of the worlds biggest suppliers to discuss an output freeze. The inventory report added fuel to that strength when we had a smaller than anticipated build in inventories. If oil continues to rise there is going to be a lot of fun action to be played in the energy sector. Don't forget about the RUSL it could also get some play. 

Even though the IBB continues to look very weak yet we have had at least one runner in the sector every day this week. It looks like the streak will continue with VTAE which is already a big gapper so do not chase it but it could set up for a quick trading opportunity. 

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

Stocks on my radar premarket 
AMD  news decent daily > thick stock probably more of a swing type
IO   insider buys potential 8 roll right sector if oil stays steady 
TRG  small gold miner trading below book value potential 3 roll 
VTAE  the crazy low float bio for the day >don't chase it 
SRPT  large dollar insider buys 
HLX   Morgan Stanley upgrade sees a double 
OSIR  Pr after the close potential snap back play 5 roll 
TNXP  insider buy @ 2.29 a share potential base break