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Daily Reads

  • Just goes to show you, when it's hated, it can outperform.  Who was the outperformer for your money in Q1?  Bonds baby! Bespoke
  • Today is Option Expiration for some weekly options.  Monday will be end of month and end of quarter.  Redemption selling has been pretty vicious but orderly.  Some feel this is the beginning of a larger correction and that reaction rallies should be sold at the higher level.  Clear rotation out of tech and small caps into fixed income, financials and oil/gas. Kos picked up slivers of her favorites names last night looking for some window dressing.  Keep an eye on USD/JPY for proxy for risk appetite.  To those not so brave, let the market show it's direction before pulling the trigger and even then, be nimble and prepared to bail.
  • 60 minutes will be doing a spot on Elon Musk and TSLA Sunday evening.
  • Early on, there's been market chatter of further easing coming out of Japan and Fed's Evans talking to reporters that he feels rates won't be increased until second 1/2 of 2015. Says holding off on hikes until 2016 could be appropriate given the state of the economy.  Market likes both and is trying to squeeze the shorts.....but will it hold?  Many don't believe so.
  • Kos bought slivers of TSLA, AMZN, FB, FEYE, LNKD, ILMN, LULU, QCOM for a quick scalp.  Shorted STX
  • Big day for $AA (which Kos is long as a drawer stock) as a  UK Court ruling threw LME warehouse reform plans on ice. The High Court in London ruled in favor of Russian aluminum producer Rusal, which feared prices of its products would suffer from the LME's efforts, and that the consultation process had been unfair. LME reforms designed to make owners of warehouses in the exchange's global network deliver metal more quickly to consumers had been due to take effect on April 1.
  • On today's move, @StevenPlace says "sell a crapton of put spreads on GOOG NFLX BIDU FB and so on, buy some OTM put calendars on QQQ. You're welcome."
  • Sadiq's broker is saying to watch Japanese bonds.  The "widowmaker" (like UNG) may setup for a turnaround soon.
  • Out of over 800 professions, BLS projects this one to grow the fastest of all.............home healthcare workers.....and they want Union benefits.  All eyes on the Supreme Court and what impact this would have on certain healthcare stocks.
  • The FTC is going after big pharma for delaying shipments of generic drugs vs name brand CNBC
  • 64% of IPO's that went public in 2013 did so with no earnings.  Is this possibly a good thing?  Are we in a IPO bubble?

 

 

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