Morning Market Look

Futures lower, Europe lower. Gold up. Japan down overnight. Crude flat. Soft commodities higher.

ADP  is reporting  the U.S. added 160,000 jobs in September and we are day two of the government shut down. The market caught a bit a of a relief rally yesterday, but so far this morning futures seem to be giving it right back. The blame game continues in DC. What a mess. Until we get some resolution, expect the market to pop and drop 100 points routinely.  If you’re a day trader, the action is  great,  if you’re a position trader, than it gets a little more frustrating. It’s probably a great time to binge watch Breaking Bad if you haven’t already.

$TSLA caught a downgrade t Baird this morning as they site execution risks.

Draghi says rates will stay low for an extended period.

According to the Hollywood Reporter, the Simpsons will kill off a main character in the coming season.

Real estate brokers are going public. Yesterday Re/Max priced an IPO at 22. The symbol is $RMAX

So where is the easiest bank to get a mortgage? Evidently SunTrust  $STI is the easiest and $JPM is the most difficult.

The media will have you believe that you will be living in a double wide in Appalachia because of activity in Washington. Just watch your screens and block the noise. There are great set ups everywhere. Biotech continues to offer great setups and I have been concentrating in that area. See $ALNY $AEGR $IMMU $CELG $ACAD

Good trading

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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  • Joe Donohue

    Joe was on Wall St, for twenty five years and his career took him to the retail, institutional and capital markets... More »

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