There are times when I sit down to do these blog entries that I have several different ideas. Conversely, there are times when there's nothing new of consequence politically nor economically to report. Furthermore, there are just flat-out instances whereby a trading bit of wisdom I learn and/or seek to pass on just is not present. But arguably my favorite aspect of trading and one of the hardest for me to have learned is that things never stay the same- whether it be life or trading. There's constant chaos during earnings season (particularly before and after traditional trading hours). The economic and political landscape evolve in perpetuity. Volatility ebbs and flows. New technologies come and go. Thus, when it's slower than normal (which it certainly is not right now at the height of earnings season), realize with the passage of time that it happily never lasts for the trader who treats change not as a barrier but an opportunity to learn and garner extra trading profits from those who are nervous and/or unprepared.
Markets overnight were mixed in Asia with Tokyo up 0.5% but Hong Kong down 0.5%. European bourses are ahead 0.1% to 0.3%. However, S&P cut Japan’s debt rating so the dollar is up a yen or so with it flat against the euro. Gold is flat with oil down slightly. The big news in New York is the massive snowfall overnight. This will lead to things slowing a bit until later in the day for the broader market but there is going to be a lot of movement among individual stocks as we’re at the height of earnings season. Durable goods and jobless claims data were both disappointing with Pending Home Sales due out at 10AM. The focus will be on all the earnings plays, big cap tech off of NFLX, financials to see if there is follow through weakness from yesterday, and materials/commodities stocks.
If the whole story is not there -
If something is good, assume either a short thru unchanged or an A-B-A2 (preferably to the downside in a downside market and the upside in an upside market) based on direction of the market unless specified.
If something is bad, assume either a buy thru unchanged or an A-B-A2 (preferably to the downside in a downside market and the upside in an upside market) based on direction of the market unless specified-
Good- The following stocks have good news and/or a strong technical pattern
GILD- closed near a high after posting earnings
DV- closed near a high after posting earnings
KEYN- closed near a high after posting earnings
FTNT- closed near a high after posting earnings
ATI- closed near a high after posting earnings
COP- closed near a high after posting earnings
NATI- closed near a high after posting earnings
PJC- closed near a high after posting earnings
ROK- closed near a high after posting earnings
JEC- closed near a high after posting earnings
BKI- closed near a high after posting earnings
STI- featured on “Mad Money” last night
WYNN- closed near a high
MOS- closed near a high
X- closed near a high
POT- closed near a high
AAPL- closed near a high
JOYG- closed near a high
FCX- closed near a high
WLT- closed near a high
RLOG- closed near a high
TDW- closed near a high
CRK- closed near a high
FTI- closed near a high
CLF- closed near a high
HAL- closed near a high
INVE- closed near a high
THRX- closed near a high
NFLX- great earnings
QCOM- good earnings
SYMC- decent earnings
CTXS- decent earnings
AMLN- decent earnings
NE- decent earnings
TSCO- great earnings
HRC- decent earnings
LSI- decent earnings
AMB, PLD- rumored to be on the verge of a merger
STI, MU- featured on “Mad Money” last night
CAT- good earnings
POT- good earnings
UA- good earnings
ZMH- good earnings
LLY- decent earnings
LMT- decent earnings
BEXP- decent earnings
CPIX- Caldolor study met its primary and secondary endpoints
SWK- decent earnings
Bad-The following stocks have bad news and/or a weak technical pattern
CA- closed near a low after posting earnings
SBUX- bad earnings guidance
ALGN- poor earnings
MMI- poor earnings
MUR- poor earnings
VAR- poor earnings
RYL- decent earnings
RHI- poor earnings
PMTC- poor earnings
ETFC- poor earnings
SHOR- poor earnings
CVD- poor earnings
QTM- terrible earnings
LDK- share offering
PSTI- share offering
NOK- bad earnings
PG- poor earnings
T- poor earnings
CL- poor earnings
DHI- poor earnings
NVS- poor earnings
CNX- poor earnings
RCL- poor earnings
Earnings:
THURS JAN 27 BEFORE
AVT BAX BC
BEN BLL BMY
CAT CELG CL
CNX CRUS CY
DHI DHR ETN
HP HSC JBLU
JNS LLL LLY
LMT MO NOK
NUE NVS NWL
OXPS PCP PG
PII POT RCL
RTN SWK T
TKR TWC TYC
UA WCC ZMH
THURS JAN 27 AFTER
AMZN ARBA CB
CPHD CPWR CYT
DRIV FII FNF
GMCR INFA INFN
KLAC LSCC MCRS
MSCC MSFT MWW
MYGN PMCS PSA
QLGC RMBS RMD
RVBD SNDK THOR
TSRA VPRT VRSN
VSEA
Epiphany Trading, LLC
www.epiphanytrading.com
Erik R. Kolodny- Chief Markets Strategist
Brendan P. Byrne- President
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