Markets sent up some caution flags yesterday with several sectors putting in some nasty candles. The SMH, IWM, Transportation, retail and for most of the day the IBB all had some decent pullbacks. The BIIB news helped the IBB to climb back by the end of the day.
Oil continues to struggle and that seems to be the main culprit for the markets. The two broke their correlation for awhile but now that we are attempting break below 40 dollars per barrel the energy names and high yield names are feeling some pressure and that is weighing heavy on the markets. Cramer did a segment on oil yesterday on Mad money suggesting that the technicals are suggesting we are headed for 35 a barrel. I don't put too much weight behind the talking heads on TV but I would suggest being cautious on Oil and energy names until Dennis Gartman goes aggressively and heavily short on oil. LOL Just kidding but he has been somewhat of a contrarian indicator lately! We have the petroleum inventory numbers out later today and that could make or break oil in this 40 area so be very careful in the sector ahead of the report.
Gold and silver held up yesterday but the miners actually pulled back a little bit and the dollar had a little bounce off of what could be short term price support. If we get a rally in the dollar look for gold silver and the miners to move in the opposite direction. DUST and JDST could present decent short term trading opportunities.
| Today's Markets
In Asia, Japan -1.9% to 16083. Hong Kong -1.8% to 21739. China +0.2% to 2978. India-1% to 27697.
Today's Economic CalendarIn Europe, at midday, London -0.2%. Paris -0.5%. Frankfurt -0.1%. Futures at 6:20, Dow -0.2%. S&P -0.2%. Nasdaq -0.2%. Crude +1% to $39.88. Gold-0.2% to $1370.60. Ten-year Treasury Yield flat at 1.54% |
ETF's
Volatility OIL Biotech
UVXY XIV VXX TVIX UWTI DWTI GUSH DRIP USO LABD IBB LABU
VMIX VMAX
VMIX VMAX
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
*PR = Press Release
FORM earnings beat and raise decent looking daily potential 10 roll small float
KOOL big gapper premarket off pr SUPER tiny Float, Do not chase watch the volume look for a potential intraday setup may need capital soon
ETSY earnings beat but it ran into earnings could see some resistance here in the 13 range its already completely out of the upper BB on the daily
FIT earnings getting a little pop up the the 14 dolla holla low volume pre and post market Do not chase it
CEMP nice looking daily flirting with the 200 day and a 20 roll small floater
ATRS flirting with the 1 dolla holla There have been insider buys from .72 up to .92 also flirting with the 200 day
HDSN gapping off earnings had a nice move into the report yesterday its a small floater that is flirting with all time highs could have a small supply of shares in the 5.70 range but this could get a 6 roll look for an intraday setup
SZMK earnings small floater gapping big premarket do not chase look for a setup the 200 day could act as a good bounce spot around 3.40
GNW earnings gapping thick float could be more of a swing type look for a pull to potential support for entry
ZAGG gapper off earnings another small floater that could get some follow through
FORM earnings beat and raise decent looking daily potential 10 roll small float
KOOL big gapper premarket off pr SUPER tiny Float, Do not chase watch the volume look for a potential intraday setup may need capital soon
ETSY earnings beat but it ran into earnings could see some resistance here in the 13 range its already completely out of the upper BB on the daily
FIT earnings getting a little pop up the the 14 dolla holla low volume pre and post market Do not chase it
CEMP nice looking daily flirting with the 200 day and a 20 roll small floater
ATRS flirting with the 1 dolla holla There have been insider buys from .72 up to .92 also flirting with the 200 day
HDSN gapping off earnings had a nice move into the report yesterday its a small floater that is flirting with all time highs could have a small supply of shares in the 5.70 range but this could get a 6 roll look for an intraday setup
SZMK earnings small floater gapping big premarket do not chase look for a setup the 200 day could act as a good bounce spot around 3.40
GNW earnings gapping thick float could be more of a swing type look for a pull to potential support for entry
ZAGG gapper off earnings another small floater that could get some follow through
Stocks discussed in this week's Ticker TV
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We had some issues with the new chat room yesterday but those bugs were to be expected when you are rolling out a new service. Hopefully we will have those issues resolved by the end of the week.
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