PRE MARKET

Quiet morning with a little bump to the upside in NDX as names like AAPL, AMAZN with a small move.

Since you asked:

AAPL gapped up. So far, just sitting. It is sitting right near the old highs from May. This is the 2nd decent sized gap in this name in the past 6 months.

AMZN had a poor reaction to the number off of a big miss. We are asked about this one every day. For us, we want it back above the 50 day…which just happens to be right at $1,000…before we look at again.

GOOGL just seems to be in a range from $920-$1000. Not much more to say here.

FB good reaction to the number and so far, so good. Actually holding the 10 day moving average…indicating how strong it has been. Probably needs some time and price in here as it is very extended.

TSLA…good reaction to another big loss. Bull phases mask a lot of crap. This morning, they are doing a $1.5 billion bond raise because they are leaking cash and need to build more cars. Ford does $155 billion in sales with a market cap of $44 billion. Tesla does less than $10 billion in sales but has a $59 billion market cap…and of course, they lose a ton on every car they build and sell.

FINANCIALS…big financials act well…just very slow. C, MS act best. BAC, JPM need to break out. Regional’s best names are PNC, CMA. Others in big bases.

OILS aint happening yet. Yes…off the lows but except for a couple names like a RDSA or REFINERS, too many names gross.

The BLOW UPS…Normally, would tell you gigantic warning sign. There have  been a ton. But there continues to be nothing normal about a market that is still receiving negative rates, 0% rates and the continued printing of trillions.

BEAR MARKETS- Never happening again!

Earnings this week:

Monday- MAR

Tuesday- EXPD, NCLH, RL, SINA, W, WB, VRX, GDDY, PCLN, DIS

Wednesday- CTRP, NTES

Thursday- JD, KSS, M, JWN, NVDA, SNAP, TTD