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0 65

It was a typical move the day after the FOMC announcement. The markets faced some weakness and some selling. Although I can’t take credit that we typically see weakness after the FOMC days. This one was attributed to Marco Rubio and his no vote. His no vote was in regards to the tax bill and he would only change his tune if they fixed the child tax credit. So the markets reacted by selling off on volume. However, the POTUS did mention that this will work out and we will continue on with the bill getting passed. Expect the market rebound today and look for even stronger gains if Rubio is back on board. It’s same for the downside swing today also. If he or others continue to get in the way of this bill being passed, expect more risk off trading like we saw yesterday. Open Position: VFC AMZN NKE TRIP LOW WMT TJX SPLK FL Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM

0 68

It was a bit of weird divergence yesterday as the SPX finished in the red while the DJI and COMP finished in the green. There were traders waiting on the sideline for the FOMC news and presser, and it was more of a fizzle than a pop. While the markets did rally a touch initially after the announcement and forecasts, eventually we saw risk off trading and the pullback into the close. I’m not expecting much out of the markets now going into the end of the year. We may see a small touch of weakness today but I can easily see slow, choppy action to finish out the year. Generally speaking, that’s a good thing for the bulls. Expect the slow grind to continue the next few days. Open Position: VFC AMZN NKE TRIP LOW WMT TJX SPLK FL Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM

0 75

It was another slow day in the markets but not one without another record high. The DJI and SPX rose to record levels while the COMP continues to struggle finishing down 12 points for the session. As the large cap Tech names are barely moving higher, a lot of tech names continue to weaken and swing lower. Heavy hitters like BABA, NVDA and NFLX among others continue to face sellers on the rallies. However, I suspect these names will still have a chance for a strong breakout to the upside. A lot of that may have to do with the FOMC Forecast due out in the afternoon. If there is language that the street respond positively to, that could be a catalyst for a broad market rally. If there are surprises that is deemed unfavorable to Wall Street… then watch out below. It will be swift and angry to say the least. I kid about the angry but swift I am not joking about. It may start the correction sorely needed and wanted. I doubt that will be the case. I suspect we will  continue on our merry way. Especially if the new Fed Head Powell keeps the policy path inline with the previous regime. Watch for volatility to kick in this afternoon and we will see how the rest o the week plays out.

0 74

The markets found some buyers and rallied to new all time highs in the DJI and SPX. The COMP continued to lag behind as we saw a divergence in Tech names. Some bigger tech names rallied while a lot slumped and struggled for gains. The market conditions were fairly quiet overall. Light trading volume and cash on sidelines were the main reason why. It seems the big money and retail alike are waiting to see the FOMC Forecast on Wednesday afternoon. Any surprise might shake the markets up big time. So it seems traders are waiting out the next day and a half to see the market reaction and sentiment. Expect things to be choppy and quiet until tomorrow afternoon. That is when we might see the catalyst to the Santa Claus rally. Any deviation or surprise and it will be more like a lump of coal hurtling towards the ground. Open Position: VFC AMZN NKE TRIP LOW WMT AET SPLK FL Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM

0 86

We finished off the week on a high notes as the markets rallied into the close. All three major markets closed in the green with the DJI and SPX closing almost at the high tick for the session. The focus remained on the release of bitcoin futures however. While the markets rallied nicely throughout Friday, the media and everyone else was focused on CBOE releasing their futures contract on the cryptocurrency. With the majority of brokers that are willing to offer bitcoin futures, almost all of them will be offering it as a buy only product for now. On the opening tick and subsequent trading on light volume, bitcoin futures is higher as I write this commentary. That means we could see an underlying effect on bitcoin stock names such as SQ, OSTK and RIOT. If they’re all up premarket in conjunction with bitcoin futures, we could see the assimilation in the near futures. If they’re married to each other(stock and futures) in the near term, throw out the fundamentals and focus on futures as a short term leading indicator. That will die out at some point, but for now that should be the focus if they are moving in sympathy. I expect the markets to be flat until the FOMC release and then we can expect our blowout rally. Santa Claus has yet to arrive but that doesn’t me he isn’t on his way. Open Position: VFC AMZN NKE TRIP LOW WMT AET SPLK FL Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM

0 129

Markets rebounded yesterday as all three major averages finished in the green. The session was slow and quiet without signs of volatility. Perfect for the bulls to grind out gains. We should expect more of the same going into the weekend. I don’t expect blowout gains by any means but I do expect some market range extension to the upside. If the bulls are back and alive at the moment, things should remain quiet for now. However if sellers make their presence felt in the markets, we will have to closely watch who wins that battle. Lately it has been the sellers by a wide margin. However, NEVER count out the perma-bulls. I suspect we close higher and finish this week off with a bang. Open Position: VFC AMZN NKE TRIP LOW WMT AET SPLK Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM

0 111

Things had slowed down considerably during yesterday’s trading session. While we did see small spurts of volatility in the market place, it wasn’t close to the wild swings we saw starting the week off. A bit of a divergence overall as the rotations have been swift. This time tech led the way in the markets. The COMP finished in the green while the DJI and SPX fell and closed in negative territory. We should expect more of the same. Fast secular rotations and bouts of volatility. With the tax bill looming over the markets, that can give the bulls or the bears a reason to play. That could be a driving force up or a reason to sell off. I suspect if the bill gets passed, we could see a move similar to the release from the senate. The companies the corporate tax cut benefits will rally and tech might get hit down. If we see a macro rally across the board, then expect the markets to blow out to new record highs. However, if we see that divergence then we must expect wild swings and volatility. It could be a fun one today folks! Open Position: VFC AMZN NKE TRIP LOW WMT AET SPLK Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM

0 102

The markets finished down across the board yesterday. Now this is when I normally say we’re going to bounce back and there is nothing to worry about. Well truth is I am starting to worry. Rallies are being faded and big gains are turning into losses for the macro markets. It started from the record highs and we have seen risk off trading ever since. That is a concern but I am not ready to panic yet. However I do see some more weakness for the markets. That is an issue since everyone is expecting a rally this time of the year. However, with huge gains already had it’s looking more like profit taking and last minute short selling coming into play. Coupled with big money rotating sectors almost daily and it’s leaving people behind. Although tech was considered a leader yesterday, everything collapsed as news of a possible inclusion in the tax bill is likely to lose out on votes. That new uncertainty caused the markets to shift lower and very quickly. It’s more about the velocity and sustained selling that is catching my eye. Look for more weakness for the markets, but I do believe it will be more secular than broad. I do expect the markets to bounce back however it may not be immediate. Expect more gradual unless we get good news regarding the tax bill. Then expect the mother of all rallies to come. I guess I’m kidding but honestly it wouldn’t surprise me one bit to see the DJI bounce 300 pts on that news. Until then, expect the weakness to continue. Open Position: VFC AMZN NKE TRIP AAP WMT AET NTES Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM

0 106

Yesterday was a prime example of buying at highs being a bad idea. Hasn’t happened too often this year but what a reversal from the highs. Tech led the way lower ad the momentum names really got hit hard with sell volume. Retail, consumer discretionary and financials helped offset the losses. We’ve clearly seen a strong rotation to these sectors since last Friday. Somehow the DJI finished in the green while the SPX and COMP finished in the red. Let’s not forget how much we were up in the markets and how we literally closed at or near the lows of the day. It’s not a signal to bail on your longs or to take risk off, but lately the signs are starting to show. The cracks in the uptrend are now more visible and it could be tech to lead us lower. If tech rallies back then there is no fear to the downside. However, if we continue to see risk off trading coupled with aggressive short selling in the names then watch out below. I expect Turnaround Tuesday to make an appearance today. Buyers should be able to rally us back a bit. Let’s hope the bears don’t fade this rally. Open Position: VFC AMZN NKE TRIP RL RH WMT AET NTES Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM

0 101

What a wild day of trading Friday turned out to be. With reports that Flynn was pleading guilty and an erroneous report implicating POTUS Trump, the markets tanked on a huge uptick in volume. When the details emerged and was clarified plus more GOP support in passing the tax bill, the markets made a huge recovery. While we still finished down for the session, it was a huge rally and a close back near the upper part of the daily range. Clearly the market only cares about the tax bill right now, but also shows you what it will take for the markets to crash. That is implications to POTUS Trump. Whether its dealings with Russia or impeachment process, that is what can drive this market down. We have seen the cracks and that is it. So be attentive to the news surrounding Trump and Mueller’s investigation. That seems to be the only thing that can bring us down. We saw Friday how swiftly things can change just on a erroneous report. Imagine what it will be like if reports were actually true. For now continue to buy with confidence. If more details implicating POTUS Trump comes out, then WATCH OUT BELOW. Once we get going it will be hard to stop. Open Position: VFC AMP NKE TRIP RL RH WMT AET Stocks to Watch: TWTR CTXS NTAP JBL HLF WFC  JPM MS NFLX WDC DIS SBUX STZ NKE LULU CREE VZ T HOG MON YUM LOW HD LEN TOL FEYE PANW FFIV AKAM

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