Stock market is expected to open flat higher tomorrow based on the chart. But there will be selling pressure as trader will book their profit ahead of Fed tapering move. So far Fed is purchasing 85 MBS per month. If Fed decide to taper between 20B-40 B this could lead to big sell off in equity and Gold and Silver index. Tapering of 15 B per month will be acceptable by most of the trader and this could lead to relief rally.
Watchout DUST/NUGT as both this stock can easily move 5-14%. Volatility stock is likely to rise ahead of Fed announcement. Becareful trading UVXY, XIV, TVIX. All ETF are highly manipulated so don't bet big and don't hold them overnight.
I'll be watching GME, OUTR, ADBE, TNA short and DUST.
Earnings before market open:
FDX, MANU, GIS, CBRL, BOTA
Earnings after market close:
APOG, SCS, ORCL, MLHR, CLC
Earnings before market open Thursday:
CAG, IHS, PIR, RAD, SCHL
Economic Calendar:
| Session | Time | Currency | Event | Impact | Actual | Forecast | Prev. | |||
|---|---|---|---|---|---|---|---|---|---|---|
| 1:30 | EUR | ECB's Coeure speaks in Dubai | low | |||||||
| 6:00 | EUR | EU to propose Draft Legislation on Benchmark Rates | low | |||||||
| 8:30 | USD | Housing Starts | med | 0.92 | 0.90 | |||||
| 8:30 | USD | Building Permits | med | 0.95 | 0.95 | |||||
| 10:45 | USD | US President Obama speaks at Business Roundtable on his economic proposals aimed at job creation | low | |||||||
| 12:30 | USD | US Comptoller Curry gives luncheon speech at the Exchequer Club | low | |||||||
| 14:00 | USD | FOMC Rate Decision | high | |||||||
| 14:00 | USD | Fed release summary of Economic Projections | med | |||||||
| 14:00 | USD | FOMC - Fed Funds Rate | high | 0.25 | 0.25 | |||||
| 14:30 | USD | Fed Chairman Bernanke holds press conference following FOMC meeting on interest rate policy | high | |||||||
Top Gaining Stocks | Price | %Change | |
|---|---|---|---|
| AFOP | Alliance Fiber Opt... | 22.86 | 12.94% |
| BSTC | Biospecifics Techn... | 19.45 | 8.60% |
| PSDV | psivida Corp. | 4.34 | 7.43% |
| RGDO | Regado Biosciences... | 8.00 | 6.67% |
| ADBE | Adobe Systems Inco... | 50.71 | 5.34% |
| BCRX | Biocryst Pharmaceu... | 6.75 | 4.77% |
| CPRX | Catalyst Pharmaceu... | 2.58 | 4.03% |
| GSE | Gse Holding | 2.28 | 3.89% |
| DNDN | Dendreon Corporati... | 3.24 | 3.51% |
| DLTR | Dollar Tree Inc. | 57.79 | 3.51% |
| EUO | Proshares Ultrasho... | 18.82 | 3.41% |
| LLEN | L&l Energy Inc. | 2.30 | 3.14% |
| NCZ | Allianzgi Converti... | 8.90 | 3.13% |
| ADVS | Advent Software In... | 31.87 | 2.91% |
| BTH | Blyth Inc. | 12.27 | 2.88% |
| FI | Frank\'s Internati... | 28.90 | 2.85% |
| BBDO | Banco Bradesco SA ... | 14.90 | 2.76% |
| IP | International Pape... | 49.35 | 2.57% |
| BPL | Buckeye Partners L... | 66.35 | 2.46% |
| BMRN | Biomarin Pharmaceu... | 77.75 | 2.36% |
Top Losing Stocks | Price | %Change | |
|---|---|---|---|
| RALY | Rally Software Dev... | 29.83 | -8.06% |
| MOVE | Move Inc. | 14.52 | -5.35% |
| BUD | Anheuser-busch Inb... | 94.89 | -4.79% |
| AWAY | Homeaway Inc. | 30.27 | -4.69% |
| WLDN | Willdan Group Inc.... | 3.38 | -4.39% |
| SSTK | Shutterstock Inc | 58.78 | -4.13% |
| ORI | Old Republic Inter... | 14.30 | -4.03% |
| SGMO | Sangamo Bioscience... | 10.19 | -3.69% |
| P | Pandora Media | 24.31 | -3.48% |
| CDI | Cdi Corp. | 14.48 | -3.21% |
| NWY | New York & Co. Inc... | 5.29 | -3.09% |
| HZNP | Horizon Pharma Inc... | 3.15 | -3.08% |
| JKS | Jinkosolar Holding... | 17.13 | -3.05% |
| BAGR | Diversified Restau... | 5.75 | -3.04% |
| CBMX | Combimatrix Corpor... | 2.88 | -3.03% |
| CVT | Cvent | 38.84 | -2.92% |
| LPI | Laredo Petroleum | 27.86 | -2.71% |
| MILL | Miller Energy Reso... | 6.58 | -2.63% |
| FC | Franklin Covey Co.... | 17.20 | -2.60% |
| MEI | Methode Electronic... | 25.59 | -2.51% |
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