March 26, 2017 Market Wrap Up

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The markets bounced back today after seeing some selling pressure over the last week. With that said, the sell off didn’t last that long, nor was it that intense.

After seeing the VIX hang out in the 14 area last week, we’re seeing it come back in. Today it closed at 11.53, a drop of nearly 8% today.

ETF Performers: United States Oil Fund (USO) +1.10%, iShares 20+ Year Treasury Bond (TLT) -0.67%, SPDR Gold Shares (GLD) -0.43%.

On the options front, we saw large call buying activity in ON Semiconductor (ON), which traded 4.6 times normal option volume. In addition, we saw heavy put buying in Scana Corporation (SCG), which traded 11.5 times normal option volume.

Some earnings results that traders paid attention too today included:

Carnival (CCL) +0.62%.Darden Restaurants (DRI) +9.3%, Factset Research (FDS) -5.7%, and Restoration Hardware (RH) +19.5%

Here is what is on tap for tomorrow:

Key Economic Data:
29 March 2017- Pending Home Sales Index 10:00 AM ET
30 March 2017- GDP 8:30 AM ET; Jobless Claims 8:30 AM ET
31 March 2017- Personal Income and Outlays 8:30 AM ET

Key Earnings:
29 March 2017- PRGS, WRD, GEVO, OMN
30 March 2017- LNN, SNAK, TITN, EGLE, PRKR, UNXL

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March 26, 2017 The Week Ahead

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The week was dominated by politics and uncertainty. We saw some signs of volatility enter the market, the SPY closed the week down 1.34%. However, that wasn’t the worse, the Russell 2000 index was down nearly 3% on the week.

It all started when there were whispers that the new administration would not garner enough votes to get their new healthcare bill signed. In which was viewed as a setback to the Trump Administration, which in turn caused markets to sell off. If he is unable to execute on his policies, maybe the market has gotten too ahead of itself.

Where is the VIX in all of this?

The VIX showed some life during this week full of political drama. It closed the week at 12.96, hitting a high above 14 at one point during the week.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) -2.32%, iShares 20+ Year Treasury Bond (TLT) +1.89%, SPDR Gold Shares (GLD) +1.60%.
Here is a list of some events that traders will be following during the week:

Key Economic Data:
28 March 2017- International Trade in Goods 8:30 AM ET
29 March 2017- Pending Home Sales Index 10:00 AM ET
30 March 2017- GDP 8:30 AM ET; Jobless Claims 8:30 AM ET
31 March 2017- Personal Income and Outlays 8:30 AM ET

Key Earnings:
27 March 2017- GMRE, CALM, GII, RHT, DGLY, ZYNE
28 March 2017- CCL, DRI, FDS, GALT, HOME, OREX, MKC, OLLI, PLAY, PTX, RH, SONC, VRNT
29 March 2017- PRGS, WRD, GEVO, OMN
30 March 2017- LNN, SNAK, TITN, EGLE, PRKR, UNXL

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March 23, 2017 Market Wrap up

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It appeared that the coast was clear after seeing some heavy volatility on Tuesday. However, the markets sold off late in the day as it now appears that voting for the health bill will be delayed. With that said, every major index sold off, except for the Russell 2000 which managed to close the day up +0.59%.

The VIX continues to spike higher, as it’s now trading above 13, closing at 13.12 on the day.

ETF Performers: United States Oil Fund (USO) -0.99%, iShares 20+ Year Treasury Bond (TLT) -0.14%, SPDR Gold Shares (GLD) -0.13%.

On the options front, we saw large call buying activity in Twenty First Century Fox (FOXA), which traded 4.8 times normal option volume. In addition, we saw heavy put buying in Zillow Group Inc (Z), which traded 5.8 times normal option volume.

For the most part, earnings have died down. However, we did get results from Micron and KB Home, both positive reactions. On the other hand, Gamestop was down more than 10% in the after hours, as they announced they will be closing at least 150 stores.

Here is what is on tap for tomorrow:

Key Economic Data:
24 March 2017- Durable Goods Orders 8:30 AM ET; PMI Composite Flash 9:45 AM ET

Key Earnings:
24 March 2017- FINL

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March 21, 2017 Market Wrap up

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The markets saw their first taste of downside volatility today, mainly due to some political headlines that hit the tape. As of now, it appears that the new Trump healthcare bill might not pass. When traders realized that there was going to be greater uncertainty, their initial instinct was to sell. That being said, we see selling pressure across the board. The Dow Jones Industrials were down 1.14%, S&P 500 -1.24%, Nasdaq -1.82%, Russell 2000 -2.72%

The VIX shot up nearly 10% today, closing at 12.47.

ETF Performers: United States Oil Fund (USO) -0.17%, iShares 20+ Year Treasury Bond (TLT) +0.83%, SPDR Gold Shares (GLD) +0.83%.

On the options front, we saw large call buying activity in Fortive Corporation (FTV), which traded 15.7 times normal option volume. In addition, we saw heavy put buying in Quanta Services Inc (PWR), which traded 11.8 times normal option volume.

Earnings have more or less died down. However, Nike reported today with some disappointing numbers. The stock was trading down four percent in the after hours when this was written.

Here is what is on tap for the rest of the week:

Key Economic Data:
22 March 2017- Existing Home Sales 10:00 AM ET, EIA Petroleum Status Report 10:30 AM ET
23 March 2017- Jobless Claims 8:30 AM ET; New Home Sales 10:00 AM ET;
24 March 2017- Durable Goods Orders 8:30 AM ET; PMI Composite Flash 9:45 AM ET

Key Earnings:
22 March 2017- FIVE
23 March 2017- GME, KBH, MU, OXM
24 March 2017- FINL

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March 19, 2017 The Week Ahead

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The markets were relatively mixed on the week, as traders and portfolio managers took some time to digest the latest interest rate hike from the FOMC, and their plans on future rate decisions. With that said, the S&P 500 and Dow Jones Industrials sold off on the week. However, the Russell 2000 was extremely strong, gaining nearly 2% on the week.

There isn’t a whole lot this week in terms of economic announcements or earnings. Most likely, traders will be paying attention to politics and single stock name opportunities.

Where is the VIX in all of this?

The VIX continues to hangout below 12. On Friday, the VIX closed at 11.75. Based on some of the volatility estimators that we look at, the SPDR S&P 500 has a 20-day volatility of 7.26% compared to its median of 10.91% over the last 3 years.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +0.39%, iShares 20+ Year Treasury Bond (TLT) +1.19%, SPDR Gold Shares (GLD) +1.98%.

Here is a list of some events that traders will be following during the week:

Key Economic Data:
22 March 2017- Existing Home Sales 10:00 AM ET, EIA Petroleum Status Report 10:30 AM ET
23 March 2017- Jobless Claims 8:30 AM ET; New Home Sales 10:00 AM ET;
24 March 2017- Durable Goods Orders 8:30 AM ET; PMI Composite Flash 9:45 AM ET

Key Earnings:
20 March 2017- JMBA, MOV
21 March 2017- FRAN, GIS, LEN, AIR, FDX, NKE, SCS
22 March 2017- FIVE
23 March 2017- GME, KBH, MU, OXM
24 March 2017- FINL

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March 16, 2017 Market Wrap Up

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The markets took a day to digest yesterday’s FOMC announcement. Volumes today were not bad, however there wasn’t much going on in terms of action.

One notable sector was in the shippers. For example, Top Ships Inc. (TOPS) was up more than 100% today, closing at $2.20 per share. In addition, Globus Maritime Ltd. (GLBS) closed up significantly higher, finishing the day at 6.74, a gain of 56%.

The VIX closed lower, finishing the trading day at 11.22.

ETF Performers: United States Oil Fund (USO) -0.19%, iShares 20+ Year Treasury Bond (TLT) -0.51%, SPDR Gold Shares (GLD) +0.50%.

On the options front, we saw large call buying activity in Sanchez Energy Corporation (SN), which traded 3.1 times normal option volume. In addition, we saw heavy put buying in America Movil SAB (AMX), which traded 8.2 times normal option volume.

Here is what is on tap for tomorrow:

Key Economic Data:
17 March 2017- Industrial Production 9:15 AM ET

Key Earnings:
17 March 2017- TIF

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March 14, 2017 Market Wrap Up

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We saw some weakness in the market today, lead by declines seen in small caps. It’s worth mentioning that volumes were relatively low, as most of the northeast was dealing with the winter storm Stella.

All eyes will be on the FOMC tomorrow and their much anticipated announcement on key interest rates. As of now, the market is anticipating a rate hike, however; they would like to get greater clarity on how quickly they plan raising them.

The VIX closed higher today, at 12.30, a gain of 8.37%

ETF Performers: United States Oil Fund (USO) -0.88%, iShares 20+ Year Treasury Bond (TLT) +0.48%, SPDR Gold Shares (GLD) -0.54%.

On the options front, we saw large call buying activity in Gerdau SA (GGB), which traded 2.3 times normal option volume. In addition, we saw heavy put buying in Zynerba Pharmaceuticals Inc. (ZYNE), which traded 2.0 times normal option volume.

Here is what is on tap for tomorrow and the rest of the week.

Key Economic Data:
15 March 2017- Consumer Price Index 8:30 AM ET; Retail Sales 8:30 AM ET; EIA Petroleum Status Report 10:30 AM ET; FOMC Meeting Announcement 2:00 PM ET; FOMC Forecasts 2:00 PM ET, Fed Chair Press Conference 2:30 PM ET
16 March 2017- Housing Starts 8:30 AM ET; Jobless Claims 8:30 AM ET; Philly Fed Business Outlook Survey 8:30 AM ET
17 March 2017- Industrial Production 9:15 AM ET

Key Earnings:
15 March 2017- AXAS, ALRM, EVOK, GES, ORCL, WSM, JBL
16 March 2017- INSY, ADBE, CATB, MNKD, XONE, VSLR
17 March 2017- TIF

Key Events:
13 March 2017- J.P. Morgan 2017 Aviation, Transportation & Industrials Conference, 3/13-3/15;
14 March 2017- Barclays Global Healthcare Conference, 3/14-3/16, in Miami, FL

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March 12, 2017 The Week Ahead

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Nearly all major indices closed the week lower, except for the Nasdaq which bucked the trend. The weakest performer was the Russell 2000 Index, which saw a drop of nearly 2%. Interestingly, it also happens to be the weakest performing index year to date as well, posting gains of less than 1%

With earnings mostly behind us, the attention will shift towards the FOMC, and the upcoming policy meeting which will be conducted on Tuesday and Wednesday. On Friday, nonfarm payrolls rose to 235,000 compared to expectations of 200,000. Some market pundits believe that those positive numbers should give the FOMC enough confidence to raise the key interest rate at this upcoming meeting.

We’ll find out soon enough.

Where is the VIX in all of this?

The VIX continues to hangout below 12. On Friday, the VIX closed at 11.66. Based on some of the volatility estimators that we look at, the SPDR S&P 500 has a 20-day volatility of 7.31% compared to its median of 10.90% over the last 3 years.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) -9.27%, iShares 20+ Year Treasury Bond (TLT) -1.78%, SPDR Gold Shares (GLD) -2.40%.

Here is a list of some events that traders will be following during the week:

Key Economic Data:
14 March 2017- PPI 8:30 AM ET,
15 March 2017- Consumer Price Index 8:30 AM ET; Retail Sales 8:30 AM ET; EIA Petroleum Status Report 10:30 AM ET; FOMC Meeting Announcement 2:00 PM ET; FOMC Forecasts 2:00 PM ET, Fed Chair Press Conference 2:30 PM ET
16 March 2017- Housing Starts 8:30 AM ET; Jobless Claims 8:30 AM ET; Philly Fed Business Outlook Survey 8:30 AM ET
17 March 2017- Industrial Production 9:15 AM ET

Key Earnings:
13 March 2017- AR, REN, TACO, CHRS, KMG
14 March 2017- BONT, DSW, HDS, ARNA, CLDX, NPTN, PTCT, RUBI
15 March 2017- AXAS, ALRM, EVOK, GES, ORCL, WSM, JBL
16 March 2017- INSY, ADBE, CATB, MNKD, XONE, VSLR
17 March 2017- TIF

Key Events:
13 March 2017- J.P. Morgan 2017 Aviation, Transportation & Industrials Conference, 3/13-3/15; J.P. Morgan Special Situations Investor Forum, 3/13, in Washington, D.C.
14 March 2017- Barclays Global Healthcare Conference, 3/14-3/16, in Miami, FL

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February 26, 2017 The Week Ahead

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Week after week, the market continues to push through new all-time highs. Regardless, how hard the media tries to paint the picture that the new administration is a mess, the markets are telling us a completely different story.

How long with this dislocation last?

It’s really hard to say. However, on Friday, the Dow Jones Industrials managed to have its 11th straight record high close.

And you know what else?

The VIX continues to hangout below 12. On Friday, the VIX closed at 11.47. Looking forward into the week, traders will be watching GDP numbers along with earnings.

Moving on to gold and oil.

Crude oil futures closed the week higher, finishing up about 1.00%. In precious metals, gold futures prices finished the week higher, gaining more than 1.5%

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +0.44%, iShares 20+ Year Treasury Bond (TLT) +2.00%, SPDR Gold Shares (GLD) +1.37%.

Some key earnings include: Priceline, Hertz, Salesfore.com, and Costco.

Here is a list of some events that traders will be following:

Key Economic Data:
27 Feb 2017- Durable Goods Orders 8:30 AM ET
28 Feb 2017- GDP 8:30 AM ET, International Trade 8:30 AM ET
1 March 2017- Personal Income and Outlays 8:30 AM ET, ISM Manufacturing 10:00 AM ET, EIA Petroleum Status Report 10:30 AM ET
2 March 2017- Jobless Claims 8:30 AM ET.

Key Earnings:
27 Feb 2017- AES, AFSI, AMT, BID, EMES, HZNP, SSTK, DGI, EXEL, EOG, HTZ, KND, OKE, PCLN, PRGO, THC, WDAY, CST
28 Feb 2017- AZO, CNP, DDD, ENDP, NRG, NLNK, PAH, QVCA, SEAS, SHOO, TGT, VRX, AMBA, BUFF, CRM, DAR, ETSY, EVHC, HALO, LOGM, PANW, TSRO, UHS, VEEV, WTW
1 March 2017- AEO, BBY, CROX, DLTR, DY, IEP, KERX, LOW, MYL, ODP, WIN, AVGO, BOX, KIN, SHAK, XON, VSI
2 March 2017- ANF, BKS, BUD, BURL, JD, JOY, KR, TD, ZEUS, COST, HABT, MRVL, SGMS, WING

Key Events:
27 Feb 2017- JMP Securities Technology Conference (runs till 2/28); Mobile World Congress (runs till 3/2); Morgan Stanley Technology, Media and Telecom Conference (runs till 3/2)

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February 22, 2017 The Week Ahead

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The markets closed mixed today on lower than expected volume. For the most part, we’ve been trending higher with no real hiccup to note of. That said, even the FOMC minutes were a non-event today. The VIX is still trading below 12, as it closed at 11.74.

Strong earnings performers included: Garmin (GRMN), Mobileye (MBLY), and Tesla (TSLA)

Weak earnings performers included: L Brands (LB), Hollyfrontier (HFC), and Terex (TEX)

ETF Performers: United States Oil Fund (USO) -1.56%, iShares 20+ Year Treasury Bond (TLT) +0.17%, SPDR Gold Shares (GLD) +0.14%.

On the options front, we saw large call buying activity in Liberty Interactive (QVCA), which traded 289 times normal option volume. In addition, we saw heavy put buying in Macquarie Infrastructure Company (MIC), which traded 2.3 times normal option volume.

Here is what is left for the rest of the week:

Key Economic Data:
23 Feb 2017- Jobless Claims 8:30 AM ET, EIA Petroleum Status Report 11:00 AM ET, New Home Sales 10:00 AM ET

Key Earnings:
23 Feb 2017- BSFT, APA, CHK, CRZO, EME, IRM, KSS, PF, SAFM, SFM, STOR, VALE, VAC, DYN, GPS, HLF, IMAX, INTU, JWN, OLED, SWN, ZOES
24 Feb 2017- CLMT, DOC, FL, HSC, IAG, JCP, PEG, KBR, RLGY, STAR

Key Events:
20 Feb 2017- CAGNY Consumer Conference (runs till 2/24)
22 Feb 2017- Barclay’s Industrials Conference (runs till 2/23); RBC Healthcare Conference (runs till 2/23)

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