Good Morning Everyone! Hope you all had a great weekend, and for those of you reading this that were at the TweetUp on Friday, I had an absolute blast! It was a pleasure to meet every single one of you, and I'm glad to have talked with all of you face to face about the crazy market that we're currently trading.
This post is bullet points because I'm running on two hours of sleep (ChartAddict and Jeffrey Lin, where you guys at to poke fun!!). Before I go back to my slumber to catch three and a half more hours, I'll be posting a conglomerate of information that will be necessary for all of you to know coming into this week. So, without futher ado, let's get to the market overview:
Economic Calendar
Monday - Treasury Budget (2:00pm)
Tuesday - Producer Price Index (8:30am), Retail Sales (8:30am), Business Inventories (10:00am)
Wednesday - Consumer Price Index (8:30am), Industrial Production (9:15am), EIA Petroleum Status Report (10:30am), FOMC Minutes (2:00pm)
Thursday - Jobless Claims (8:30am), Treasury International Capital (9:00am), Philadelphia Fed Survey (10:00am), EIA Natural Gas Report (10:30am), Housing Market Index (1:00pm), Fed Balance Sheet & Money Supply (4:30pm)
Friday - Housing Starts (8:30am)
Earnings Calendar
Monday - FAST (PM, +0.33), CSX (AH, +0.62), NVLS (AH, -0.39)
Tuesday - ALTR (AH, +0.16), GS (PM, +3.48), INTC (AH, +0.08), JNJ (PM, +1.11), YUM (AH, +0.43)
Wednesday - ABT (PM, +0.89), CTAS (AH, +0.37), GCI (PM, +0.36), GWW (PM, +1.14), XLNX (AH, +0.19)
Thursday - APH (PM, +0.42), BAX (PM, +0.94), BIIB (PM, +0.96), GPC (PM, +0.62), GOOG (AH, +5.06), HOG (PM, +0.25), IBM (AH, +2.02), JPM (PM, +0.04), MAR (PM, +0.21), PBCT (AH, +0.06), PPG (PM, +0.76)
Friday - BAC (PM, +0.25), BBT (PM, +0.21), C (PM, -0.31), FHN (PM, -0.32), GE (PM, +0.23), MI (Unknown, -0.69), MAT (PM, +0.01)
NOTE: There are more companies that I will be trading that report earnings this week. The earnings watch list will come out tomorrow night, for I didn't have the time to put that together this weekend.
Portfolio Update
- ABX @ 32.75
- DUG @ 22.18
- SSG @ 37.15
Weekly Watch Lists
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Swing Trading Solo Watch List
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Investment Opportunities Watch List
My watch list rationale for this week is based around the spreadsheet seen in the link below. The spreadsheet includes the Top 25 and Bottom 25 industries ranked by percentage performance over a 10 day period. The highlighted industries were the industries I chose to follow this week via companies within the industry that I have in either the Investment Opportunities WL or the Swing Trading Solo WL. Enjoy:
Because of my large bias towards Industrial Goods, the biggest day for my watch lists this week is Wednesday because of the Industrial Production statistics that are coming out at 9:15am. I will be posting a special post Tuesday evening that is based upon these statistics, and I will be making predictions for where I expect the statistic to come in.
Another industry I'm watching closely this week for a potential pop is steel. I will be posting updated versions of SLX and KOL this afternoon, but for a brief overview, I chose SLX and the steel industry because it's beginning to dip closer to the neckline of the head and shoulders pattern I warned all of you about last Sunday. This time, I'm telling you to begin LOOKING (not BUYING) at cash riddled steel companies that have the potential to do well during this earnings round and that can weather the storm of the next leg down if it occurs.
That's all for now! I will be updating MJTT mid-afternoon with a technical analysis post. Enjoy your PreMarket, and I'll catch all of you on Twitter in the next hour or so.
ZM
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