Tuesday, July 5, 2016

Don't Compare

Good morning folks,
I hope you had a restful and enjoyable holiday weekend.
Markets thies morning are flashing red as concerns about Brexit uncertainty reemerges and oil pulling back off slowing global growth concerns. Like we talked about in this weeks market wrap this shouldn't come as a total surprise since we identified coming up into some near term trendline resistance after a 4 day rally. 

Gold and silver could continue its move higher taking the miners with them. Watch volatility if the weakness in the markets is accompanied by increased volume.

If you can't find the ideal setup don't try to force any trades. There is nothing wrong with sitting on your hands and being in cash if  the market won't allow you to get involved on your terms. 

Today's Markets 
In Asia, Japan -0.7% to 15669. Hong Kong -1.5% to 20750. China +0.6% to 3006. India-0.4% to 27167.
In Europe, at midday, London +0.6%. Paris -1.1%. Frankfurt -1.4%.
Futures at 6:20, Dow -0.5%. S&P -0.6%. Nasdaq -0.6%. Crude -2.6% to $47.72. Gold+0.6% to $1347.60.
Ten-year Treasury Yield -8 bps to 1.38%
Today's Economic Calendar
ETF's on my Radar 
Volatility                                                               OIL                                      Biotech
UVXY XIV VXX TVIX                      UWTI DWTI GUSH DRIP USO       
 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

Agriculture                                  SPY     
DBA, DAG                           SPXS SPXL
INSY FDA approval Gapper recent insider buying 12.41-12.94 17 could act as resistance on the daily 

BCOR selling off a division already had a nice move into this news

BMY pr daily looks good has been consolidating could be looking at new all time highs Look at a yearly chart 75 will likely be an interesting area to try and get through > its had a nice 4 day run and its a thick stock probably a better swing or long term hold on a pullback

NCIT very tiny floater new contract not one to chase but could get some action off the news potential 14 roll

ROVI license news 15 could be a good bounce spot  seems to be finding some support in this area insider buys in May 16.12-16.37 float under 100 mil 13 percent short interest 

GILT contract announcement but no financial details > could potentially find some support around 4 foa bounce but its super tiny floater 

*PR = Press Release* 

This weeks Ticker Tv Stocks to watch and their performance below