Never Lose Your Enthusiasm

Good morning folks, 

The Agriculture play that we talked about in this weeks videos has worked out extremely well so far this week with nice moves in CF MOS TWI and POT. It looks as thought the sector could remain in play but if you have profits make sure you scale out into strength. 

Oil and energy names continue to act strong in the face of OPEC being unable to come up with any kind of production plan. We get oil inventories later today and now that the strike is over in Kuwait we will see if that strength can continue. 

Earnings have been lackluster so far with Intel being that last one to disappoint after the close yesterday. Not only did their earnings disappoint but they also announced they will be laying off 12k employees. The NASDAQ and the SMH both showed signs of weakness yesterday and could get some follow trough if some of the big boys don't start providing some encouraging earnings. We get GOOGL and MSFT later in the week. 

GOLD/SLV and more specifically the materials and miner ETF 's continue to be unbelievably strong. As long as the dollar continues to weaken that trend could continue. Steel names have been on fire and the power and strength of the move has caught a lot of people off guard. I think the strength of the emerging markets is also helping bolster the strength in materials. 

IBB was unable to break through that 285 mark yesterday as we continue to build up some energy as we bounce between resistance and support like we talked about in this weeks videos. As long as 270 holds as support I think we will eventually take out 285 on our way to the 300 mark. 

The IWM and Midcaps continue to act well technically. However as earnings continue to roll in  if the results continue to disappoint that could change in the blink of an eye. 

The industrial and defense sectors still look strong and we will likely get a clearer picture later this week with GE and Honeywell reporting on Friday.

Shippers also remain a hot sector specifically the oil shippers after reports that IRAN is pumping so much oil they can't find enough ships to export the crude. Keep an eye on this sector. 

Here are a few big names reporting today

Today's Markets 

In Asia, Japan +0.2% to 16907. Hong Kong -0.9% to 21236. China -2.3% to 2976. India+0.1% to 25844.
In Europe, at midday, London -0.5%. Paris flat. Frankfurt -0.1%.
Futures at 6:20, Dow -0.2%. S&P -0.2%. Nasdaq -0.2%. Crude -2.8% to $39.94. Gold-0.3% to $1250.20.
Ten-year Treasury Yield-1 bps to 1.77%

Today's Economic Calendar

7:00 MBA Mortgage Applications
10:00 Existing Home Sales
10:30 EIA Petroleum Inventories

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  

Agriculture 
DBA, DAG

Stocks on my Radar Premarket 
OCLS Small floater FDA approval 1 dolla gapper likely going to need to raise capital at some point
ADPT earnings beat 60 roll gapper SUPER THIN only 2 million shares in the float so  DO not CHASE they could stand to raise some cash as well 
ORBK Flirting with 52 week highs pr out this morning could get some follow through
ADMS pr gapping needs to get through 18.50 with conviction small float 
CARA pr small float decent cash position lil gapper premarket 
ARTX pr contract win a bit extended on the daily I wouldn't chase it 
MGM  MGP IPO priced 21 a share High end of the range 

Stocks in this weeks TICKER TV watch list and how they are tracking