kaltbaum pre market

Futures up as there was an announcement that they were going to be nicer to Spain with their loans or something like that.

 

Hedge fund manager David Einhorn on CNBC touts AAPL…like it needs touting…so up another $3 on open. AAPL in 5th stage base…but rounding a nice cup going into next week’s earnings.

 

Besides that, growth leader list has mostly names pulling into the 50 day, basing along the 50 day or just sitting right now.

 

Other strong areas are housing, defensive areas like food,drugs,beverages,tobacco,household products,utilities and reits. Also…a good amount of biotech working.

 

Here is the near-term good news. All the major indices are sitting in handles…moved up…pulled back over 3 days. Noticing the DAX coming up in its handle so thinking we do also…so expect some upside here. Hopefully, some names come out of any potential move. Remember, lots of resistance overhead…and if markets are to go higher, it takes pullbacks and handles to form…so so far…so good. If we see higher, expect the down and out oils and some commod areas to participate also off their lows.