Early Bounce

56th GRAMMY Awards - Red Carpet


Janet Yellen is in for a real treat to start the year as the potential plunge in Hong Kong real estate, the collapse of Argentina and emerging markets is being attributed to QE tightening. Bernanke sleeps in and waits for advance book deal checks to clear, while his handlers set up multi million dollar speaking engagements.

Right now futures are bouncing nicely. This whole event reminds me of the Cyprus thing a while back when everyone got paralysis through analysis for a few days.  I was hoping they would have crushed the open this morning so we could really shake out the weak hands. If this market climbs higher here it would make think that a sell off is more likely than a rip higher. We’ll see.

Maybe $AAPL can save the tape with a good number tonight. My gut says it will. I think $IBM is a short right here. Seven consecutive quarters of misses. They are lost at sea and rudderless.

I’m waiting to pounce on biotech again, but I’d like to see them shake the tree a little more first.

$ARIA didn’t care what the market did last week and something appears to be afoot with that one.


Good luck today.


Why would anyone wear an Arby’s hat to the Grammys?


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