{"id":9344,"date":"2011-01-24T08:57:27","date_gmt":"2011-01-24T13:57:27","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=9344"},"modified":"2011-01-24T09:20:40","modified_gmt":"2011-01-24T14:20:40","slug":"morning-thoughts-12411","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-12411","title":{"rendered":"Morning thoughts 1\/24\/11"},"content":{"rendered":"<p>Good morning traders,<\/p>\n<ul>\n<li>Note a lot happening overnight, as markets seem to kind of be in a wait and see mode.\u00a0 Asia ex China is up roughly 0.5%, while China is down -2%.\u00a0 Europe is also a mixed bag.\u00a0 Ireland up a full percent (check news on Ireland this morning if you haven&#8217;t seen it), while the other European indexes range between +0.4 to &#8211; 0.8%.\u00a0 The only large mover overnight is Dubai, up 1.4%.<\/li>\n<li>Some moves in forex, while not significant on their own, deserve our attention.\u00a0 the AUDJPY has been trading near support at the top of a much larger range, and is up 1.4 standard deviations this morning.\u00a0 USDHKD has been extremely strong, and is continuing the run.\u00a0 The EUR and GBP are both weak against most of their trading partners, leaving a slightly position (+0.2%) net impact on the US Dollar index.\u00a0 No huge moves here early this Monday morning, but definitely some themes to monitor throughout the day.<\/li>\n<li>Metals are slightly stronger this morning, but within a range that could simply be overnight noise.\u00a0 My sense is that the bears had their chance in Gold and Silver last week, but really failed to produce any breakdown below support.\u00a0 I would lean slightly long on the complex coming into this week, as Platinum and Palladium have held onto their gains near resistance very well.<\/li>\n<li>Bit of a mixed bag in energy this morning, with WTI Crude down slightly and distillates are up.\u00a0 (Heating Oil made new 52 week high overnight).\u00a0 Nothing really to note here in early trading.<\/li>\n<li>Chicago grains are up this morning, possibly looking to extend their recent bull runs.\u00a0 Do not assume these will have followthrough to the major Ag stocks we follow on a day to day basis though.<\/li>\n<li>Still hard to find compelling sector plays, or to justify too much time on sector\/market plays with so many good opportunities in individual names.\u00a0 Watch the stocks that reported today, of course, but also PLCM, TPX, STI, JRCC, BEXP and ACOR (not an exhaustive list) for second day followthrough.<\/li>\n<li>I will tweat the In Play list early this morning&#8230; always some good opportunities on that list.<\/li>\n<\/ul>\n<p>Good trading,<\/p>\n<p><a href=\"http:\/\/www.twitter.com\/AdamG_SMB\"><img decoding=\"async\" src=\"http:\/\/twitter-badges.s3.amazonaws.com\/follow_me-c.png\" alt=\"Follow AdamG_SMB on Twitter\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning traders, Note a lot happening overnight, as markets seem to kind of be in a wait and see mode.\u00a0 Asia ex China is up roughly 0.5%, while China is down -2%.\u00a0 Europe is also a mixed bag.\u00a0 Ireland up a full percent (check news on Ireland this morning if you haven&#8217;t seen it), while the other European indexes &#8230; <a href=\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-12411\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":388,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[943],"tags":[],"class_list":["post-9344","post","type-post","status-publish","format-standard","hentry","category-adam-grimess-blogs","no-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Morning thoughts 1\/24\/11 | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/morning-thoughts-12411\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Morning thoughts 1\/24\/11 | SMB Training\" \/>\n<meta property=\"og:description\" content=\"Good morning traders, Note a lot happening overnight, as markets seem to kind of be in a wait and see mode.\u00a0 Asia ex China is up roughly 0.5%, while China is down -2%.\u00a0 Europe is also a mixed bag.\u00a0 Ireland up a full percent (check news on Ireland this morning if you haven&#8217;t seen it), while the other European indexes ... 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