We came into the week with the hopes that we could see some follow through form last Fridays action. Monday's pullback was to be expected but yesterday was a bit disappointing as markets appeared to re-couple with oil and the IBB retested the lows of last week.
Utilities continue to be the leading sector and Gold is flirting with that 108 area we talked about in this weekends video.
Volatility came back in a big way yesterday giving us great trading opportunities in the UVXY and XIV. Oil plunged back below the 30 level bring the markets with it. If you watch the financial networks there was no shortage of doom and gloom with one individual on Fast Money making a pretty bold prediction on the European banks and the ripple effect. I am not smart enough to know if what he suggested is true but I do know that we need the financials to find a bottom because the price action does have an eerily similar look and feel to the action back it had in 2007.
We talked about the biggest economic indicator we want to pay the most attention being jobs and when we see headlines like the one below it does give us reason for concern.
03:45:20pm02/02/16
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Tech Industry To See 330K Layoffs In
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Maybe there is some HUGE catastrophic event that is about to take place that no one saw coming. Maybe the actions of the central banks over the last several years are coming home to roost. Maybe the oil industry is going to collapse. Maybe North Korea is going to send a Nuke our way. Maybe our next President is going to be worse than the one we currently have. Maybe we are in a peak economy. Maybe the dollar is going to collapse. Maybe the Zika Virus is going to become a pandemic. Maybe the end of the world is near!!!!
So what if it is?? Is worrying about it going to change the outcome? Is being scared or afraid going to make things better?
Fear usually creates tremendous opportunities! Its okay to recognize the risks but don't let them scare you. Don't get caught up in the fear! Look for the opportunities, enjoy the here and now! Make the most of TODAY and try not to worry about the maybes of TOMORROW.
My focus ETF & ETN List
Volatility Oil Biotech
UVXY XIV TVIX UWTI DWTI GUSH DRIP IBB LABU LABD
Gold Dollar
GLD NUGT JNUG DUST JDST GDX GDXJ UUP
KLIC earnings beat and raise> flirting 10 bounce trading below book value
FHCO full disclosure started a little swing position yesterday @ 1.41 off of decent earnings and the news out of Dallas
OCLR potential 4 roll off earnings
RDWR announced share buyback and earnings bea
EDIT IPO today
BGNE IPO today
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