Wednesday, February 2, 2011

Groundhog Day...Futures Point to a Lower Open...

Welcome to Groundhog Day! Punxsutawney Phil predicted an early spring this morning. Good news on the day that massive blizzard that hit the Midwest and reaching as far as Texas to Maine.
 
By the way I think Groundhog Day really is a terrific trading movie!


BMO – ES -3.50 and NQ -7.25 futures are lower about 20 minutes before the open in pre-market trading and point to a lower open

TLT is up 65 cents and the Euro is down 36 pips in premarket trading and continues above horizontal resistance

BMO – ES -3.50 and NQ -7.25 futures are lower about 20 minutes before the open in pre-market trading and point to a lower open

TLT is up 65 cents and the Euro is down 36 pips in premarket trading and continues above horizontal resistance

NDX leaders AAPL, AMZN, BIDU, GOOG and NFLX are lower in pre-market trading…PCLN is unchanged…

Dave’s Insight for Wednesday:  Stay inside as much as possible and keep warm.  Watch Groundhog Day (the movie) if you have access to it.

Continue to follow key earnings releases and the opportunities they create.

SPX
Resistance: 1300, 1,311, 1,321
Support: 1,281, 1,271, 1,256

Quoting DownWHR, NFLX, BRCM, CHRW, SHLD, DLTR, AAPL, GOOG, NDAQ, WLT, ESI, X, BA, SWN, TVT, SWKS, FAS, CAT, SOHUN, GS, CSTR, JNPR, DOW, AMZN, BIDU, KLAC, INFY, ADBE, FFIV, EBAY

Quoting UpFSLR, CAM, CF, POT, MOS, TLT, HSY, MCP, CLF, HAS, V, FDX, VECO, ERTS, MAT, WYNN

9 comments:

Anonymous said...

I wonder if Punxsutawney Phil knows AL Gore?? It is 8 deg F here in Dallas!
Look fwd to ur post Dave.
B.Hesker

Anonymous said...

Good morning Dave,
Glad you made it home safely.
Yes, we have a blizzard here in Massachusetts for the last 2 days and it is cold, cannot wait for the spring.It was so great to see your comment on your blog. Thanks for thinking of us while your away. I'm addicted to your blog and your sessions and I cannot thank you enough for all the time you put into it. I'm looking forward for tomorrow sessions with "Dave the Man ". Thanks for you do.

Judy said...

Good morning DAVE! Thanks for the suggestion. I haven't see that movie in years. It is time to revisit (ha-ha). Keep warm! Judy

Scott Avery said...

Yes, Groundhog Day is just like trading. We have to repeat over and over again until we get it right.

Anonymous said...

Agree, the movie Goundhog Day is like trading.

Don

Mike said...

Dave

Glad to hear you got home safely esp with all the bad weather across the country. We are getting continued snow in Massachusetts.

Thanks for your continued attention to your blog. I continue to hone my entries and exits and money management skills.

I love Groundhog Day and one of the cable stations is (creatively) playing Groundhog Day all day!!!!

It's fun to watch but I am off to move some snow and then back to looking at the market

"Do you think it will be an early Spring??"

Mike

Anonymous said...

-22 degrees here on the continental divide...and it keeps repeating, like trading...spring sounds nice

C.Dyson

Anonymous said...

I took your trade on Ground HOG movie..

Anonymous said...

Dave would love to see your comments on Bull Flag setups tomorrow. Great to have you back.
Michael V