Stocks for Feb 2nd: GMCR, CMG, QCOM, FAZ

S&P 500 heading south

So the stocked opened and rallied as expected not because of China or US data but because of ECB main refinancing operation. The next operation is expected on Feb 6th, when the stock is expected to open higher but its not yet listed on their ECB site. http://www.freefdawatchlist.com/2012/02/how-to-take-advantage-of-ecb-operation.html

Economic data doesn't matter in this market anymore. US economic data was bad expect construction spending.  This market is already set up at low expectation and yet its not able to beat estimate. Look at Baltic Dry Index, its at 680, which is lowest in 25 year. http://www.freefdawatchlist.com/2012/01/baltic-dry-index-continues-to-slides.html This market is having dream run right now and forming a bubble itself.

VIX moving up 

The economic data to focus for tomorrow, eventhough it doesn't matter


Challenger Job-Cut Report
7:30 AM ET

Jobless Claims (370k is expected, higher is bearish while lower is bullish)
8:30 AM ET

Productivity and Costs
8:30 AM ET



Bloomberg Consumer Comfort Index
9:45 AM ET

Ben Bernanke Speaks
10:00 AM ET

EIA Natural Gas Report
10:30 AM ET

Earning to focus : 

Feb 02		MRK	MA	DOW	GILD	NOV	AGN	VIAB	SE

Based on the chart market S&P500 is expected to decline, and VIX is expected to move higher.