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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March 7, 2017 The Week Ahead

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The markets sold off today on rather light volume. The Russell 2000 being the one getting hit the most, dropping 0.69%, while the Dow Jones Industrials were down 0.14%, and the S&P 500 was down 0.29%. However, the intraday ranges still remain tight. Interestingly, the tech sector was the only one up on the day.

Strong earnings performers included: H&R Block (HRB) and Nimble Storage (NMBL)

Weak earnings performers included: Dick’s Sporting Goods (DKS) and Navistar International (NAV)

ETF Performers: United States Oil Fund (USO) -0.18%, iShares 20+ Year Treasury Bond (TLT) -0.30%, SPDR Gold Shares (GLD) -0.81%.

On the options front, we saw large call buying activity in Seachange International (SEAC), which traded 250 times normal option volume. In addition, we saw heavy put buying in News Corp (NWSA), which traded 79 times normal option volume.

One of the big events on the week is the ECB meeting which will be held on Thursday. In addition, the FOMC meeting will be held next week.


Key Economic Data:
8 March 2017- EIA Petroleum Status Report 10:30 AM ET
9 March 2017- ECB Central Bank (ECB) policy decision at 7:45 AM ET, Jobless Claims 8:30 AM ET
10 March 2017- Employment Situation 8:30 AM ET

Key Earnings:
8 March 2017- CIEN, EXPR, BOBE, HOV, OA, SMRT, VAL, CWH, RATE, VVUS, UNFI, WATT
9 March 2017- FCEL, PRTY, SIG, SSYS, ZUMZ, FNSR, FRPT, LOCO, PAY, ULTA

Key Events:
6 March 2017- Citigroup 22nd Annual Global Property CEO Conference (runs till ⅜); Cowen 37th Annual Healthcare Conference (runs till ⅜); Deutsche Bank 25th Annual, Media, Internet and Telecom Conference runs till (⅜); Raymond James 38th Annual Institutional Investors Conference (runs till ⅜)

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March 5, 2017 The Week Ahead

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Week after week, traders are all asking the same question… when is this market going to pullback? Well, we didn’t see a whole lot of upside during the week. However, the market SPDR S&P 500 is up 5.39% over the last 30 days. With earnings mostly behind us, the attention will focus on an FOMC meeting which is 11 days from now, and politics out of Washington.

Where is the volatility?

The VIX continues to hangout below 11. On Friday, the VIX closed at 10.96. Based on some of the volatility estimators that we look at, the SPDR S&P 500 has a 20-day volatility of 7% compared to its median of 11% over the last 3 years.

Moving on to gold and oil.

Crude oil futures closed the week closing, lower at -1.16%. In precious metals, gold futures prices finished the week lower, dropping -1.79%
Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) -1.49%, iShares 20+ Year Treasury Bond (TLT) -2.01%, SPDR Gold Shares (GLD) -1.85%.

One of the main highlights over the last week was the IPO of SNAP Inc., the parent company of Snapchat. A successful IPO to say the least, the company has a market cap of $31.35B, after gaining 59% it’s first week.

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

Key Economic Data
7 March 2017- International Trade 8:30 AM ET,
8 March 2017- EIA Petroleum Status Report 10:30 AM ET
9 March 2017- ECB Central Bank (ECB) policy decision at 7:45 AM ET, Jobless Claims 8:30 AM ET
10 March 2017- Employment Situation 8:30 AM ET

Key Earnings
6 March 2017- ASNA, MEET, THO
7 March 2017- DKS, MIK, NAV, HRB, NMBL, URBN, WIFI, ZAGG
8 March 2017- CIEN, EXPR, BOBE, HOV, OA, SMRT, VAL, CWH, RATE, VVUS, UNFI, WATT
9 March 2017- FCEL, PRTY, SIG, SSYS, ZUMZ, FNSR, FRPT, LOCO, PAY, ULTA

Key Events
6 March 2017- Citigroup 22nd Annual Global Property CEO Conference (runs till ⅜); Cowen 37th Annual Healthcare Conference (runs till ⅜); Deutsche Bank 25th Annual, Media, Internet and Telecom Conference runs till (⅜); Raymond James 38th Annual Institutional Investors Conference (runs till ⅜)

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March 2, 2017 Market Wrap Up

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The markets sold off today on rather light volume. However, today’s headlines were dominated by Snap. The much anticipated IPO traded over 216M shares on its opening day, closing up more than 40%, at 24.48. With that said, this was the largest IPO in over 2 years.

Strong earnings performers included: Abercrombie & Fitch Company (ANF), Burlington Stores (BURL), and Intrexon (XON)

Weak earnings performers included: Costco Wholesale (COST), Anheuser-Busch (BUD), and Shake Shack (SHAK)

ETF Performers: United States Oil Fund (USO) -2.02%, iShares 20+ Year Treasury Bond (TLT) -0.43%, SPDR Gold Shares (GLD) -1.23%.

On the options front, we saw large call buying activity in HRG Group Inc (HRG), which traded 5.2 times normal option volume. In addition, we saw heavy put buying in Fastenal Company (FAST), which traded 2.6 times normal option volume.

There are no major events on the schedule for tomorrow.

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February 28, 2017 The Week Ahead

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The markets sold off a little today, as traders positioned themselves ahead of President Trump’s speech, which will be tonight. In addition, we received GDP numbers earlier in the session, which came in at 1.9% for Q4, a number that was below the estimates of 2.1%

Strong earnings performers included: The Priceline Group (PCLN) and Weight Watchers (WTW)

Weak earnings performers included: Palo Alto Networks (PANW), Perrigo Company (PRGO), and Target (TGT)

ETF Performers: United States Oil Fund (USO) -0.17%, iShares 20+ Year Treasury Bond (TLT) +0.37%, SPDR Gold Shares (GLD) +0.09%.

On the options front, we saw large call buying activity in Yandex (YNDX), which traded 3.1 times normal option volume. In addition, we saw heavy put buying in Outfront Media (OUT), which traded 6.9 times normal option volume.

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

Key Economic Data
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
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- Mobile World Congress (runs till 3/2); Morgan Stanley Technology, Media and Telecom Conference (runs till 3/2)

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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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February 19, 2017 The Week Ahead

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Last week we wrote: “The markets keep rolling higher… seems like nearly every other day an all-time high is being made.” Well, not much has changed, as the all three averages posted gains of over 1% on the week.

Interestingly, the attention continues to stay more or less focused on politics than what’s going on in the financial markets. The VIX did gain on the week, moving from 10.85 to 11.49, however; that’s still relatively low given the political climate we’re in.

Moving on to gold and oil.

Crude oil futures closed the week lower, finishing down 0.76%. In precious metals, gold futures prices finished the week higher, gaining about .10%

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) -0.96%, iShares 20+ Year Treasury Bond (TLT) -0.36%, SPDR Gold Shares (GLD) +0.07%.

Some key earnings include: Tesla Motors, Wal-Mart, Hewlett Packard, Herbalife, and Home Depot.

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

Key Economic Data:
21 Feb 2017- PMI Manufacturing Index 9:45 AM ET
22 Feb 2017- Existing Home Sales 10:00 AM ET, FOMC Minutes 2:00 PM ET
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:
21 Feb 2017- AAP, AER, BHP, CBRL, EXAS, EXPD, GPC, HD, HSBC, LL, M, MDR, MDT, PWR, WLK, WMT, EIX, CXO, FSLR, IRWD, LZB, NEM, PZZA, XPO
22 Feb 2017- DISH, GRMN, HFC, HST, LAMR, LYG, MBLY, NI, PNK, SBGI, SIX, TEX, TJX, TOL, WWW, CAKE, CLR, CLVS, ETE, ETP, EVHC, FIT, HPQ, LB, O, SQ, SUN, TROX, TSLA, TSRA
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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