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Good morning What a difference a day can make. Listening to some of the financial networks it was the beginning of the end yesterday. Volatility is coming back in a big way as we are looking at yet another V shaped snap back in premarket. Being a die-hard short is proving to be very difficult. These volatile days can provide a great short term trading environment. Gap up days can be very tricky especially heading into a long holiday weekend so be careful. Do not chase, have a plan and know your risk reward.
Read MoreGood morning We had a fairly flat day in the markets yesterday in most sectors with the exception of health care and the IBB which had impressive moves higher taking the health care ETF to fresh all time highs and the IBB convincingly above that 300 mark. There is no doubt that were were seeing some sector rotation of money flow. It is nice to see and we could see more of it in the coming weeks ahead. However, we have had a very sharp move higher in a short period of time with the IBB having a candle completely out of the upper bollinger band, on a Friday heading into the weekend with a russell re balancing.
Read MoreGood morning It could be a choppy wild day with triple with expiration today. We are looking at a potentially higher open as The NASDAQ and S&P are both flashing green in premarket. Gold and oil are also getting a little bounce in premarket with the dollar just slightly red. Tech has had a rough week and there appears to be some sector rotation going on so it would be prudent to be patient before taking..
Read MoreGood morning The equities markets are flashing green in premarket while gold and oil are pulling back a bit off a little dollar strength as a result of the UK vote last night. We have the Fed coming up next week and we are heading into the weekend so some profit taking would not be a shocker if that were to happen. Semiconductors are incredibly hot right now...
Read MoreGood morning The equity markets are getting some follow through of yesterdays action, We have the jobs number coming out in about an hour and that could impact the markets if it comes in with a number that takes the market by surprise. If it is in line with estimates I do not expect any significant reaction for the markets. Gold and oil are flashing red in premarket while the dollar is basically flat. We have ASCO starting today and running through next Tuesday, This could be an eventful weekend for news flow in the biotech space. It looks like we bay get the scenario we were looking for after that nice swift bounce in the IBB yesterday. Lets see is we get enough positive news out of the conference to take the IBB through that 300 mark with real conviction. The breadth of the stocks participating as the markets made new highs yesterday was impressive particularly in the small cap space. That could present some great day trading opportunities. Keep in mind that it is Friday so there could be some profit taking heading into the weekend.
Read MoreGood morning We are heading into a long weekend and the equities markets are pulling back just a tad after a nice 7 day run. Oil is pulling just a tad as gold is flashing green in premarket. It is not a shocker to see the markets take a breather here as it should be expected to see some profit taking into a long weekend where anything could happen geopolitically. This continues to be one of the most under appreciated bull markets I have ever seen in my lifetime. I have no idea ho much longer it will last but
Read MoreGood morning We have a lot going on this morning. Once again its proving difficult to keep the bulls and the buy the dippers on the sidelines as the markets had an impressive bounce yesterday and held. After the close we had strong earnings from AMAT, ADSK and CRM which will likely give some fuel to the bulls in the tech and the semiconductor sectors. Speaking of fuel, there is also chatter that OPEC is considering deepening and extending the oil production cuts & that...
Read MoreGood morning While we have seen the markets take a little pause over the last couple days, technically they continue to look very constructive. We are looking t a slightly red open for equities while gold and oil are slightly green, the dollar is basically flat. Its Friday so it could be a fairly choppy day as many traders tend to lighten up on their positions heading into the weekend.
Read MoreGood morning and Happy Cinco De Mayo! Markets are looking basically flat as the reality that the repeal and replace health care bill is likely months away from getting through the senate which pushes tax cuts and reform somewhere into the distant future far far away. That may be the case and only time will tell if any of this winds up becoming reality. The more significant potential catalysts for the market are todays employment numbers and the election in France this weekend.
Read MoreGood morning We are awaiting GDP numbers and that could set the tone for the markets today. We had some decent earnings out of the tech world last night with mixed reactions on the stocks that reported. INTC MSFT AMZN GOOGL and this morning we got a big Q3 cut out of QCOM so we could see some choppy action in the tech space.
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