Thursday February 11, 2016
Economic Calendar & Watch List 2/11/2016
Morning Notes
US futures are pointing sharply lower by over -2% while European stocks are trading lower by nearly -3.5% after crude oil falls by over -4%. As the global economic conditions worsen, a strong push into safe havens of government bonds occurs. Asian stocks closed mostly lower.
Technicals
The SPY initially traded higher in yesterday’s session but sold off into the afternoon and ended just off the lows. This morning, the SPY is gapping significantly lower. Support will lie at $181.02, followed by $180.83, and $180.04. Resistance will lie at $182.80, followed by $183.20, and $185.12.
Small Cap Watch List
*Please refer to the momentum scanners displayed live in the chat room for potential plays at the market open.
**Others On Watch**
TRIP
MYL
INCY
Economic Calendar
8:30 Weekly initial unemployment claims expected -5,000 to 280,000
8:30 USDA weekly Export Sales
10:00 Fed Chair Janet Yellen appears before the Senate Banking Committee
11:00 Treasury announces amount of 30-TIPS to be auctioned Feb 18
1:00 Treasury auctions $15 billion 30-year T-bonds
Notable Earnings Before Open
AAP: Advance Auto Parts – EPS Est. $1.21, Rev Est. $2.05B
RAI: Reynolds American – EPS Est. $.50, Rev Est. $3.04B
TRIP: TripAdvisor – EPS Est. $.34, Rev Est. $298.54M
PEP: PepsiCo – EPS Est. $1.06, Rev Est. $18.51B
TAP: Molson Coors – EPS Est. $.52, Rev Est. $8.45M
MOS: Mosaic – EPS Est. $.44, Rev Est. $1.93B
K: Kellogg – EPS Est. $.75, Rev Est. $3.16B
Notable Earnings After Close
AIG: American International Group – EPS Est. $.91, Rev Est. $13.54B
ATVI: Activision Blizzard – EPS Est. $.83, Rev Est. $2.2B
WYNN: Wynn Resorts – EPS Est. $.74, Rev Est. $948.37M
February 11th Watch List
SABR – A long earnings winner with a nice reversal chart. Looking for a move back to 27.60, then 28.20s. Long entry is over 26.53, stop 26.10.
KIRK – On swing watch after making multiple attempts to climb over big resistance at 13.36. Long entry is over 13.00, add 13.36. stop at 12.50, and then 13.00 after the add. Room here is 14.10 and then 14.70.
RJET – This previous big mover is on watch for a breakout over this resistance top following a ton of churn and high relative volume. Long entry is over 2.25, stop 2.00. Target is 2.64 and then 2.90s.
MON – On short watch for a breakdown under 87.00 big support area. Looking for a move to 83.80 and then toward 80. Short entry will be under 87.00, stop 88.00.
AMAG – On short watch if IBB and SPY sell off. Trading over 2 year support. Shorty entry is under 21.69, stop 22.25. Room here is to 20.95, 18.66 next.
