Consumer Friday


Morning y’all. S&P futures are getting a boost this morning from an upside surprise in Japanese consumer prices, rising at the fastest pace since 2008. ES futures are up 3-4 points on what may be a busier Summer Friday than we’ve grown accustomed to over the last few weeks. We will see a series of economic indicators both prior to and just after the opening bell that could sway markets in either direction, but for now we appear to be heading for a mostly green open. Still, August has been a rough month for the bulls as bears have finally received some modicum of a correction, though a portion of the sell-off stems from the reaction to the Syrian situation, a move that has been overdone in our opinion (and may already be over). Though we aren’t convinced that the near-term lows are in, we don’t see any compelling reasons to ramp up short exposure. We anticipate the market will take a more definitive direction in the next week or two as most of the financial community returns from end of summer sojourns.

Not a ton of pre-market action to comment on in the early going as we finally have an earnings lull, though our AAPL weekly call position initiated yesterday should be good for some Labor Day Weekend beer money as the stock is trading near $493. We’ll be looking to make a move early to lock in profits should any of the day’s economic indicators sour the markets. Names we will be watching near the close today for week to week swing possibilities:



Posted on August 30, 2013, in Uncategorized. Bookmark the permalink. Leave a comment.

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