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Good 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 A new month begins and June is typically one of the weaker months of the year historically but that doesn't mean there will not be plenty of opportunity. The market has been in consolidation mode with some sectors like Tech and semiconductors continuing to show incredible strength. The biotech sector is struggling but that could change this weekend with ASCO taking place and could provide the catalyst to take the IBB over that 300 level of resistance. PANW had nice earnings and guidance which could put..
Read MoreGood morning We have a lot of economic data today along with the beige book report from the FOMC. We are getting a little bounce from the NASDAQ and the S&P in premarket along with gold as the dollar and oil are flashing red. The IBB is sitting right on top of the 200 day and if we break below it with conviction we could have a nice day trade opportunity with LABD but do not chase it.
Read MoreGood morning Equity markets are flashing red premarket while the dollar is showing a bit of strength. Oil and gold are pulling back off the dollar strength. It shouldn't come as a surprise that we are seeing some weakness after a 6 day run. Let see if the weakness continues or we get some type of red to green bounce.
Read MoreI hope you are having a tremendous weekend. We do have some economic data coming out this week that could impact the markets and we have the President back in town & active with twitter so who I suppose anything could happen this week.
Read MoreThere are a lot of “guru’s” out there that want to boast and brag about how much they make and how they do it only trading and hour a day. I don’t want to talk about all my winning trades. I want to talk about my biggest losing trade because I think you can learn more from my most painful experience and hopefully it will help you avoid making the same mistakes and avoid some of the pitfalls that naive and inexperienced traders make. I share this because trading and investing can certainly be very rewarding but it can also be extremely unpleasant when you lose.
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 Markets are gapping to new all time highs as the bulls retain full control as we head into a long holiday weekend. We may see some profit taking tomorrow heading into the weekend. Gap up days can be very challenging days. Do not chase. OPEC extended the oil
Read MoreGood morning We have a busy day ahead with data. FOMC minutes come out @ 2 PM ET, and prior to that we have existing home sales as well as petroleum inventories. We are right at some short term resistance in several sectors technically & todays news may or may not give us the catalyst that leads to some increased volatility.
Read MoreGood morning Markets are holding up well considering the events in the UK. My prayers go out to all those impacted by the tragedy. Equities are flashing green in premarket while gold and oil are basically flat. The dollar is also flat to slightly higher. Earning season has been strong and the markets have held up well but we have the Fed minutes out tomorrow and lots of other outside events that can create at the very least some doubt about how much further the markets can rise..........
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