I am still bearish for this market with Italian bond back to 7.004 but atleast tomorrow in first 30 minute the market will pull back as lots of economy data is coming out. Jobless claim will be major factor and it might be positive sign because of thanksgiving holiday and hiring is likely to increase and inturn decreasing the jobless claim.
Also since it was veteran day holiday last week, so less people might be filing for jobless claim.
****Jobless claim(8.30 EST), 395k or lower will be bullish sign while 400k or higher will be bearish sign.
MBA dropped down 10% today but new Housing starts is coming out at 8.30 EST, 0.605 or higher is bullish sign any number lower then this is bearish sign.
****Philadelphia Fed survey (10 EST), 9 or higher will be bullish sign while 8 or less or negative number will be very bearish sign.
Keep Italian bond in mind http://www.bloomberg.com/apps/quote?ticker=GBTPGR10:IND
Its back in danger zone of 7
France and Spain bond auction is going to be very important factor tomorrow.
There is no major news coming out from Europe but if Merkel or Sarkozy decide to say something then it might be a big market mover. Super committee is another factor to consider as only 6 days will be left.
I am little bullish on TNA, ERY, RMBS and DNDN for short term. Stocks likely to open low are
NTAP (7 % or higher, IL, YOKU, SEMG
At current level HMC is very attractive for long term.
As long as Italian bond is above 7 and Supper committee result is due on NOV 23rd, VXX and TZA can be holded till then.
Also since it was veteran day holiday last week, so less people might be filing for jobless claim.
****Jobless claim(8.30 EST), 395k or lower will be bullish sign while 400k or higher will be bearish sign.
MBA dropped down 10% today but new Housing starts is coming out at 8.30 EST, 0.605 or higher is bullish sign any number lower then this is bearish sign.
****Philadelphia Fed survey (10 EST), 9 or higher will be bullish sign while 8 or less or negative number will be very bearish sign.
Keep Italian bond in mind http://www.bloomberg.com/apps/quote?ticker=GBTPGR10:IND
Its back in danger zone of 7
France and Spain bond auction is going to be very important factor tomorrow.
There is no major news coming out from Europe but if Merkel or Sarkozy decide to say something then it might be a big market mover. Super committee is another factor to consider as only 6 days will be left.
I am little bullish on TNA, ERY, RMBS and DNDN for short term. Stocks likely to open low are
NTAP (7 % or higher, IL, YOKU, SEMG
At current level HMC is very attractive for long term.
As long as Italian bond is above 7 and Supper committee result is due on NOV 23rd, VXX and TZA can be holded till then.
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