We had a small sample of what I was looking for yesterday but the volume was not quite what I had hoped it would be. Things were starting too look pretty dismal as we broke some of those key levels we talked about in this weeks video. (If you have not seen the video it is at the bottom of the page)
I had a very narrow focus on UVXY XIV TVIX and UWTI. Volatility was definitely the place to be. We had a tremendous run in UVXY and TVIX. Then at the end of the day XIV gave us a nice push.
UWTI was weak the entire day and in order for us to get a decent trade out of it we need a strong bounce in oil. Oil continues to be a huge drag on the markets and the fears of high yield collapse in the sector is rampant. There will likely be some high profile bankruptcies in the sector if oil continues to plunge towards 20 dollars a barrel.
The action in GOLD was puzzling in the face of the market weakness yesterday. What was the precious metal that is often referred to as the safety trade trying to tell us? What signal was it sending as it struggled on a day when it had every reason to rally?
There has been a lot of talk about an earnings recession and I know yesterday was only the first day of the earnings season. However, from what I have seen so far, there appeared to be many more companies giving solid guidance or reaffirming expectations than were lowering expectations. Could it be that we are jumping the gun a bit on an earnings recession? Regardless of how it plays out there is no doubt earnings could make or break the bull market we have been in for the last 7 years.
CELG put a bit of a hurting on the IBB when they gave lighter than expected earnings guidance. The guidance wasn't terrible but it was all the sector needed to accelerate its decline.
We are looking at a gap up premarket.
What I would like to see is a repeat of yesterday with much higher volume. I would like to see us fade off the open with total capitulation and then a very strong rip your face off reversal. I have said it before and I will say it again. The market does not care about what I want or what I would like to see so I am just going to have to play the cards I am dealt.
AA LULU
Stocks on my radar premarket
Bullish and may have a swing or lottos in play
Cautiously optimistic
08:00:44am01/12/16
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ManTech Awarded $200M Contract For Defense and Intelligence Support
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08:04:34am12/18/15
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ManTech Reports Winning of $5B MAC IDIQ Contract for Providing Cyber Security, Info Systems Technical Support to Defense Technical Information Center
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There are two orders one is an old announcement however the stock never reacted to the news > this is a small floater that I have been stalking for a swing for quite awhile now.it is at what appears to be a good bounce spot may start dipping my toe
Potential snap back play day trade or short term swing 9 % short interest
Gapping premarket off guidance could got for a 20 test and roll 13 % short interest
Could get a nice bounce off this news > extremely beaten down sector testing an 8 roll > don't chase it 22% short interest
Really like the look of this one for a short term swing > it is in a downward channel but I like the flag and potential for a 13 roll 10% short interest
Continuation off the sanpback it started yesterday >day trade or potential short term swing HUGE short interest 54% could be a tremendous squeezer fairly small float
Looking for a 5 roll with some volume > day trade
04:59:18pm01/11/16
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Evercore ISI Group Positive On SALT, Sees Co As 'best house in bad neighborhood', Sees Dry-Bulk Market Deteriorating
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07:04:53am01/12/16
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Horizon Pharma Sees FY2016 Sales $1.02B-1.05B vs $998.82M Est
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05:00:29pm01/11/16
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ExOne Reports CEO Makes $13M Investment
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08:17:49am01/12/16
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Morgan Stanley Upgrades Regulated Utilities Sector from Cautious to Inline; Dynegy is Top Pick
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08:33:30am
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UPDATE: GameStop Narrows Q4 Comps Outlook from -1-+6% to +2.5-4%; FY Comps Growth from 2-6% to 4-5%
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08:21:18am01/12/16
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Guggenheim Securities Initiates Coverage on Wpx Energy at Buy
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