PRE MARKET

Pay no attention to the DOW yesterday or quiet trading. Lots of set-ups going into earnings season…and more decent reactions to crappy earnings this morning.

Gaps in CDNS, HAS, LMT, TWTR, UTX, WHR.

NFLX announces $2 billion in bonds to pay for what else? Content!

A ton of earnings next 3 weeks and the Fed this week. Yippee!

PRE MARKET

For a change, futures down.

In 15 of the past 17 trading days, stocks have gapped up with a total number of 97.9 S&P points. But…the S&P is only up 87.8 points during that time. This goes hand in hand with a NY Times article we read in early 2018. The article went on to state that all the gains in the market going back all the way back to 1993 came outside regular trading hours. We checked. It is correct. Just saying. After all…it all counts.

Watching:

Energy prices spiking as the president cuts off Iran exports. Every 10 cents at the pump over a year’s time is $10 billion out of the consumer pocket.

HEALTHCARE stocks to see how they bounce after the recent mini-meltdown.

Tons of earnings this week and the next few weeks.

The SEMIS…what else?

10 year yield while back up is still at 2.578.

The Fed this week…blah blah easy money.

Personally, would love to see some selling just to wipe the smiles off the bull’s faces and throw just a little doubt into the market. This will actually help the market going forward.

 

 

 

 

PRE MARKET

Just about all of HEALTHCARE has basically crashed. Very very very oversold and stretched to the downside. Rallies/bounces will happen but will be random.

REITS/UTES look like highs in for now…unless rates start coming down again.

Rough growth/software and all that stuff day yesterday. A bunch of names below 50 day average now.

QCOM…had no clue…no way of knowing…no way of playing.

GOLD/SILVER still aint happening.

MUELLER REPORT this morning…right at the market open. Futures quite flat.

BX will be a breakaway gap off of numbers. SNA another decent gap.

STNE, TEAM gapping down badly.

 

 

PRE MARKET

QCOM/AAPL settle litigation. QCOM soars yesterday and is gapping up today. This really helped the SOX again yesterday.

NFLX lowers guidance from $1,00 to 55 cents for next quarter. Sales decelerate again. Stock down 7% in after hours yesterday. As we write this, up more than 2%.

INTC getting out of 5g or something like that because of the QCOM deal. INTC up $2.50 this morning.

CSX, KSU, PEP, UAL up on earnings.

BK really bad on earnings.

Futures be strong.

But…healthcare yikes. Go look at XLV. Managed care continued its crash yesterday. Gotta think bounce coming. HOSPITALS hit hard yesterday (HCA,UHS,THC). Even MEDICAL PRODUCTS hit hard yesterday.

Interest rate-sensitive UTILITIES and REITS may be done for now. Look at IYR and XLU. End of world not at hand but recent action reacting to higher rates.

WEED

We repeat our thoughts. Valuations for weed stocks are a joke…ridiculously over-valued. But a bull market is a bull market and for a while, they were bullish. No longer. Once just about all broke the 50 day moving average, that was party for now. But it just worsens and most names dive even further. We continue to say avoid…regardless of what the rest say. Price first…opinion last. If things change, price will tell you.