On Monday, Dow Jones rallied 166 point but from the lows of the day it rallied 236 point, while S&P500 rallied 28 point from the lows. The great thing about the rally was volume was down 62% and lowest volume for 2012. Fed has been pumping 45 billion into economy every month but if we look at the balance sheet, its increasing rapidly then what Fed said. http://www.federalreserve.gov/monetarypolicy/bst_recenttrends.htm
Also, Treasury on Monday said, it has hit the debt limit. But as per treasury site http://www.treasurydirect.gov/news/pressroom/pressroom_1219slgsoff.htm it seems US hit debt limit even before their official announcement on Monday. What we noticed on Monday was ridiculous rally on micro deal, and congress managed to kick can down the road till February end. US is indirectly at default but as long as main stream media don't make it headline, it will keep running normally.
It is one of the difficult market to trade, because on Thursday Dow jones fell 155 point and then it recovered 155 point same day. On friday it sold off 158 point. On Monday it recovered 166 point. Net result, Market is up.
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| S&P500 is expected to open Lower or higher depending on the House vote. |
Coming back to trading, follow this rule,
- "Follow the maket"
- "Don't hold anything overnight"
- "Don't Bet against market"
- Use very tight stop loss if your betting against market.
- Sit on the sideline if you can
Economic Calendar:
| Session | Time | Currency | Event | Impact | Actual | Forecast | Prev. | |||
|---|---|---|---|---|---|---|---|---|---|---|
| 8:00 | EUR | German CPI (Prelim.) | low | 0.7 | -0.1 | |||||
| 8:00 | EUR | German HICP (Prelim.) | high | 0.7 | -0.2 | |||||
| 8:00 | EUR | German HICP (Prelim.) | high | 1.9 | 1.9 | |||||
| 8:00 | EUR | German CPI (Prelim.) | low | 1.9 | 1.9 | |||||
| 8:58 | USD | Manufacturing PMI | low | 54 | 52.8 | |||||
| 10:00 | USD | ISM Manufacturing | high | 50.3 | 49.5 | |||||
| 10:00 | USD | Construction Spending | low | 0.6 | 1.4 | |||||
| 14:00 | USD | Minutes from prior (11-12 Dec) FOMC Meeting released | high | |||||||
After hour Gainer and Loser:
| Percentage Gainers | |||||||||
| Issue | Symbol | Volume | Last | Chg | % Chg | High | Low | ||
| OraSure Technologies | OSUR | 36,377 | $7.67 | 0.49 |  6.82 | $7.67 | $6.69 | ||
| Direxion Daily Natural Gas Related Bear 3x Shares | GASX | 10,468 | 18.23 | 0.93 | 5.35 | 18.23 | 18.23 | ||
| Direxion Daily China Bull 3X Shares | YINN | 9,500 | 19.50 | 0.80 | 4.28 | 19.50 | 19.00 | ||
| Republic Airways Holdings | RJET | 20,849 | 5.80 | 0.12 | 2.11 | 5.80 | 5.65 | ||
| iShares FTSE EPRA/NAREIT Global Real Estate ex-U.S. Index Fund | IFGL | 49,495 | 33.82 | 0.69 | 2.08 | 33.82 | 33.08 | ||
| Supervalu | SVU | 62,926 | 2.52 | 0.05 | 2.02 | 2.52 | 2.40 | ||
| Percentage Decliners | |||||||||
| Issue | Symbol | Volume | Last | Chg | % Chg | High | Low | ||
| China Unicom (Hong Kong) ADS | CHU | 30,362 | $14.00 | -2.29 | -14.06 | $16.29 | $14.00 | ||
| Howard Hughes | HHC | 12,603 | 69.19 | -3.83 | -5.25 | 73.02 | 69.19 | ||
| Central European Distribution | CEDC | 71,493 | 2.06 | -0.11 | -5.07 | 2.37 | 2.06 | ||
| Nu Skin Enterprises Cl A | NUS | 10,800 | 35.34 | -1.71 | -4.62 | 37.05 | 35.04 | ||
| PowerSecure International | POWR | 6,060 | 7.45 | -0.36 | -4.61 | 7.81 | 7.45 | ||
| Nektar Therapeutics | NKTR | 17,384 | 7.07 | -0.34 | -4.59 | 7.42 | 6.82 | ||
| WABCO Holdings | WBC | 23,110 | 62.26 | -2.93 | -4.49 | ||||
Earning:
| SYMBOL | EARNING DATE | PRICE MOVEMENT | |
|---|---|---|---|
| OPTIONS MONTH | LAST EARNING | ||
 | |||
| SHLM (3.3) | Jan. 3, 2013 | 17.02% | 17.03% |
| APOL (4.2) | Jan. 8, 2013 | 14.11% | -22.37% |
| HELE (2.9) | Jan. 9, 2013 | 17.99% | -12.3% |
| FUL (2.7) | Jan. 14, 2013 | 15.38% | -10.48% |
| SWKS (3.7) | Jan. 14, 2013 | 16.41% | -17.98% |
| CHK (2.3) | Jan. 16, 2013 | 10.14% | -13.7% |
| PLXS (3.8) | Jan. 16, 2013 | 15.16% | -10.06% |
| FAST (2.0) | Jan. 17, 2013 | 14.03% | 11.44% |
| ATI (2.2) | Jan. 21, 2013 | 14.96% | -12.4% |
| CRUS (5.6) | Jan. 21, 2013 | -12.72% | -16.35% |
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