To Get To New Heights All It Takes Is The

Good morning folks, 
So yesterday I wrote up a little piece about time and how quickly things can change and the markets confirmed that as they gave back nearly all the gains from the previous day. Home Depot had great earnings with terrific guidance and yet it still wound up selling off. Gold and miner ETF's continue to provide tremendous trading opportunities with the volatility swing in the sector. Oil continues to show strength as it grinds towards a 50 dollar test and the dollar managed to close higher as well. 

This market has not been friendly to the bulls or the bears if you are holding for longer than a day. It has been fantastic if you are nimble enough to take advantage of the short term day trading action. 

We remain at technical areas of potential support for several indexes and sectors like the SPY, IWM  and FAS while retail  and consumer discretionary continue to look weak. We may finally breach those key areas of support today and if that occurs volatility could pick up significantly. 

We have the Fed minutes out later today and if the tone is hawkish, indicating the probability of a rate hike in June, you can count on some type of knee jerk reaction from the markets. A lot of times the first reaction in the markets wind up being the head fake so be careful and don't over commit to the initial response. 

Steel names could be in play after new import duties being imposed on Chinese steel makers. TMST X AKS MT  

Today's Markets 

In Asia, Japan -0.1% to 16645. Hong Kong -1.5% to 19826. China -1.3% to 2807. India-0.3% to 25704.
In Europe, at midday, London -0.5%. Paris -0.3%. Frankfurt -0.3%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq flat. Crude flat at $48.32. Gold -0.3% to $1273.50.
Ten-year Treasury Yield +2 bps to 1.78%

Today's Economic Calendar

7:00 MBA Mortgage Applications
10:00 Atlanta Fed's Business Inflation Expectations
11:00 EIA Petroleum Inventories
2:00 PM FOMC minutes

ETF's on my Radar 

Volatility                                                         OIL                                                Biotech
UVXY XIV VXX TVIX VMIX VMAX            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                                  SPY 

DBA, DAG                           SPXS SPXL

STOCKS ON MY RADAR PREMARKET 
ORMP pr Gappin Very thin stock can make some big moves  wait for a setup nice range break out on the daily

MZOR gapping off pr MDT taking a 15 percent stake in the company gapping premarket the deal structure is in three tranches > don't Chase 

MGNX pr gapping off news potential 20 test and roll small float great balance sheet 

SPLS better than expected earnings huge gap on the daily after failed ODP merger may set up for a quick scalp trade

MGIC thin stock Press release already had a nice 2 day move but could get a 7 test and roll 

DLNG after a pullback on the daily reported earnings after the close gapping right into resistance premarket very small float look for a setup could be a decent swing pays a nice dividend 

OVAS more insider buys 40k @ 7.63 full disclosure I have started a swing yesterday 


Stocks that are in this weeks Stocks to watch Ticker Tv session and their performance