Tuesday, June 21, 2016

Brexit Still The Focus

Good morning folks,
Yesterday the markets gapped up after polls showed the majority leaning towards staying in the EU. After the initial gap up in the markets we just chopped around. The polls continue to be very tight and depending on who is taking the pole the margin for which direction the majority is leaning is extremely thin. We won't know with certainty exactly what is going to happen until the vote has been tallied. However it looks as though we are going to have another green open off the easing of Brexit fears. 

Janet Yellen starts her 2 day semiannual testimony in front of congressional members. The comments from Yellen will be dissected as members from congress show how smart they are by grilling Yellen and asking all types of mentally stimulating questions. <(SARCASM) It is almost guaranteed to be a real snooze fest. 


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Technically the indexes are holding up fairly well as we had decent bounces in the IBB, IWM and SMH. However, the lack of follow through made it feel more like a head fake than a powerful reversal. I remain cautious until after we have clarity on the Brexit vote and we get through the next two days of Yellens comment and we might as well throw in the this weeks jobless claims.

Oil energy, the dollar and precious metals remain areas of interest where I think we could see some volatility. Home builders couldalso be in play after the Lennar earnings beat.  

ETF's on my Radar 
Volatility                                                               OIL                                      Biotech
UVXY XIV VXX TVIX VMIX VMAX       UWTI DWTI GUSH DRIP USO     
LABD IBB LABU      
 Gold                                SILVER         Dollar                                Financials
GLD NUGT JNUG           USLV             UUP                                 FAS XLF FAZ HYG JNK

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
OPK FDA approval potential 10 roll 

CDXC could get a bounce after a short hit piece took them down yesterday Small floater

TBPH hot looking daily potential 23 roll off pr 

NERV potential continuation off yesterdays move flirting with an 11 roll another very thin floater 

PGNX flirting with a  5 roll off pr 

*PR = Press Release* 


This weeks Ticker Tv Stocks to watch and their performance below 



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