June 14th Watchlist
Futures are pretty flat this morning after US equities posted sharp gains from Thursday's session. Comments are now being spread about the FED's disapproval of the rumors being circulated concerning the end to the current QE programs. Perception about QE now is pushing the markets significantly in both directions and producing a tumultuous time for intraday options traders. A trader with any kind of directional bias and a stubborn personality is surely racking up losses.
Economic data scheduled for before the market opens has done little to affect the indexes but we still have Consumer Sentiment on tap for 9:55 AM so make sure to watch for sharp investor reaction.
Groupon (NASDAQ: GRPN) & Google (NASDAQ: GOOG) caught some solid analysts upgrades this morning and both stocks are gaping up in the premarkets. The price target increase for Google is now up to $1050 which honestly is not that absurd if the market can get the legs it needs to push to fresh all time highs.
This Friday, I would recommend a subdued approach to trading, sticking only with scalp time frames or writing strategies.
GOOD MORNING YOUNG WORLD!
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