Since I am not one to short individual stocks yesterday was a fairly uneventful and boring day. I did add to my BAC swing near its low of day just prior to the close and I also added to my SWSH lotto swing. I took a quick day trade in ISR TVIX &KERX. It looks like the markets are at a fairly critical area and it will be interesting to see if we get a bounce or if we take out support and continue to fall. My biggest concerns are the IBB and the IWM, bios and small caps are both sitting on fairly important areas of support. If they fail it could get pretty ugly fairly quickly. The TLT made a decent move yesterday and it may look to continue today. TVIX and TZA will be on my radar today for day trades.There are reasons to be concerned so I have no plans on loading the boat with anything.
Remember stocks are just pieces of paper and they are only worth what someone is willing to pay for them. If the markets break critical support those pieces of paper will get cheaper. Fear is a powerful emotion and when it starts to feed on itself things can get ridiculously cheap. At some point there will be some fantastic deals out there. Make sure you have the funds available to take advantage of those deals when they arrive.
Morning movers and other stocks that caught my eye
TASR PR already swinging it but may look to add on weakness long term hold for me, SZYM looking for a 200 day MA bounce, CAMT pr 4 dolla holla, NWBO active premarket would not chase it not sure what the news is , CRY pr daily not that great but worth watching, AA active premarket daily kinda hot thick stock though, BAX pr wouldn't chase it, EXAS halted for some FDA watching for the open, BDSI pr chart not that great, ALIM pr nice daily, OTIV earnings
Seeking Alpha
Today's Markets:
In Asia, Japan +1% to 14623. Hong Kong -0.2% to 21834. Shanghai -0.8% to 2047. India +0.5% to 22214.
In Europe, at midday, London -0.3%. Paris -0.1%. Frankfurt +0.1%.
Futures at 6:20: Dow +0.3%. S&P +0.3%. Nasdaq +0.3%. Crude flat at $100.26. Gold -0.7% to $1294.80.
Ten-year Treasury Yield flat at 2.7%.
In Asia, Japan +1% to 14623. Hong Kong -0.2% to 21834. Shanghai -0.8% to 2047. India +0.5% to 22214.
In Europe, at midday, London -0.3%. Paris -0.1%. Frankfurt +0.1%.
Futures at 6:20: Dow +0.3%. S&P +0.3%. Nasdaq +0.3%. Crude flat at $100.26. Gold -0.7% to $1294.80.
Ten-year Treasury Yield flat at 2.7%.
Today's economic calendar:
8:30 Initial Jobless Claims
8:30 GDP Q4
8:30 Corporate Profits
8:30 Fed's Pianalto: "The Federal Reserve and Monetary Policy"
9:45 Bloomberg Consumer Comfort Index
10:00 Pending Home Sales
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
1:00 PM Results of $29B, 7-Year Note Auction
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
9:30 PM Fed's Evans: Economy and Monetary Policy
8:30 Initial Jobless Claims
8:30 GDP Q4
8:30 Corporate Profits
8:30 Fed's Pianalto: "The Federal Reserve and Monetary Policy"
9:45 Bloomberg Consumer Comfort Index
10:00 Pending Home Sales
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
1:00 PM Results of $29B, 7-Year Note Auction
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
9:30 PM Fed's Evans: Economy and Monetary Policy
Notable earnings before today's open: ACN, CMC, CONN, FRED, GME, LDOS, LULU, OTIV, SFXE, SIG, WGO, WOR
Best of Success always !!
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