WED. MAR. 16- Looking it Up

Recently, I was visited by a very dear friend of mine. She is a librarian at a fairly prominent university. She is always good for a little lesson if I keep my ears open and she did not disappoint this time either. She told me that in the last few weeks she had several grad students sigh and become visibly perturbed when she tried to help them with a topic but could not find any information on it. Each student was frustrated but she told them to treat it as a major opportunity. If there is no substantive research done on a particular topic, it is highly likely that if you are the one to do the homework, you can make a name for yourself in something arcane by becoming the world's leader on knowledge of the topic. Oh, and you can make it your dissertation topic as well. I couldn't help but mentally note how true that is in day trading. Whether it is the person who brought candlestick trading to the United States or the person who pushed for electronic trading in the first place, there are countless opportunities in day trading to do the same thing. On a daily basis, I try to seek out answers to questions about general and specific things that anybody I ask doesn't know the answer to...particularly when I haven't a clue. So whether it's what is going on in Bahrain to seeking an answer to something like what is behind a major share imbalance in a stock at the end of the day to merely turning the television on in the morning to see what happened overnight, realize that opportunity may not be exactly there for the taking but it can be grabbed merely by doing a little legwork.

It was much more placid overnight following a reflex rally in Tokyo with stocks there recouping 5.6%. Movement is muted but down in Europe with prices down 0.2% in Frankfurt but off 0.7% in London. Oil is having a nice 2% plus rebound with gold up going on 1%. The dollar is flat against the yen but up slightly against the euro. Futures are modestly weaker state-side with techs relatively weak. Prices were lower after-hours, rallied sharply overnight, came in, and are off their lows anew. Mortgage apps came in slightly weaker than expected. PPI (0.7 with 0.3% core), housing starts (575K), and building starts (-0.2%) are due out at 8:30 with crude inventories out at 10:30. Look for a much more muted session today with action very choppy. Keep an eye on the news ticker. The focus will likely be on small caps in the news (ONP, ORCC), solars, casinos, fertilizers, and big cap tech.

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

FCX- closed near a high

FSLR, TSL- closed near a high amid the thought process that solar plants may go into Japan

NFLX- closed near a high after a Goldman Sachs upgrade

POT- closed near a high

STRI- closed near a high

CCJ- closed near a high in a major reversal

PANL- decent earnings

ONP- decent earnings

QKLS- closed near a high after posting good earnings

WSM- closed near a high after posting good earnings

MDSO- island reversal in closing near a high after posting earnings

IPXL- closed near a high after issuing positive Parkinson’s drug guidance

VRA- decent earnings

UHS- decent earnings guidance

BTU- featured positively on “Mad Money” last night




Bad-The following stocks have bad news and/or a weak technical pattern

PSUN- bad earnings

NVDA- CFO resigned

ORCC- bad earnings and announced it’s no longer seeking a merger

ZA- closed near a low

THQI- closed near a low

APT- bad earnings

LVS- a judge found sufficient evidence to hear Macau case in Las Vegas

WFT- chief accounting officer resigned; lowered guidance as well

AMLN- suspended clinical studies in ongoing phase II study

Earnings:

WED MAR 16 BEFORE

FSS HRBN

WED MAR 16 AFTER

FTK GES GMR

MDVN MLHR


Epiphany Trading, LLC
www.epiphanytrading.com

Erik R. Kolodny- Chief Markets Strategist
Brendan P. Byrne- President