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Good morning It is starting to look like the retail sales event in Canada is a sell the news event for the cannabis space. The pullback started yesterday and looks to continue in premarket. We could see come rotation out of the sector as people put money to work in some of the beaten down sectors as earnings ,,,
Read MoreGood morning The cannabis space was the clear winner yesterday and it looks like it could continue today as we head into the official start of recreational sales in Canada tomorrow. Netfilx earnings after the close could put the spotlight on tech while financial and investment banks continue..
Read MoreGood morning It has been a rough October so far for the bulls and the worst may not be over as we continue lower in premarket with a gap..
Read MoreGood morning Equities are up slightly in premarket as we are awaiting the latest PPI numbers. Several indexes and sectors remain guilty till proven innocent. The caution flag is still waiving as we see a lot of choppy action with little follow through in either direction. I am keenly focused on the China names like BABA BZUN HUYA and IQ. The cannabis sector remains volatile ..
Read MoreGood morning The markets did rally late in the day yesterday but it was not enough to have them close in the green. This morning we are looking at another weak open but in the short term we are also looking oversold and we are trying to hold onto some key moving averages in a few sectors like the IBB IWM IYT while tech and the SMH have broken ..
Read MoreGood morning Fears of an overheating economy, rising interest rates and some hawkish comments from the fed sent stocks tumbling yesterday and technically we took out some key moving averages in several sectors and indexes. Tech and semiconductors were hit hard yesterday with...
Read MoreGood morning Concerns of an overheating economy and the potential for an overly aggressive Fed is weighing on equities in premarket. Oil is pulling off of a big inventory build reported yesterday. Volatility is..
Read MoreGood morning Equities are gapping in premarket ahead of new ISM and PMI data at 10 am ET. Concerns over Italy have eased a bit as Italy government plans to cut its budget deficit. The petroleum status report comes out @ 10:30 ET and could impact oil and energy names. The dollar is basically flat while oil and gold are both up slightly in premarket. The action has been pretty choppy this week..
Read MoreGood morning We had a gap up day yesterday and those can be challenging days to trade. I did very little yesterday on terms of trades. The cannabis sector is where all the action was in just a handful of names like TLRY NEPT IGC and NBEV. The space could remain volatile and in play leading up to legalization in Canada which occurs on the
Read MoreGood morning The Fed raised rates yesterday and removed the accommodative monetary policy verbiage from the statement. Markets initially reacted by moving up and as Fed Chairman Powell ended hit question and answer session the markets were lower. Equities in premarket are flat to up slightly along with the dollar and oil while gold is flat. One potentially concerning development for the equity markets
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