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The Wall Street Greek blog is the sexy & syndicated financial securities markets publication of former Senior Equity Analyst Markos N. Kaminis. Our stock market blog reaches reputable publishers & private networks and is an unbiased, independent Wall Street research resource on the economy, stocks, gold & currency, energy & oil, real estate and more. Wall Street & Greece should be as honest, dependable and passionate as The Greek.


Seeking Alpha

Tuesday, March 17, 2015

TODAY’S MARKET: It’s Getting Tense Around Here

tension
Investors are basically passing the time now until the Fed monetary policy release due Wednesday afternoon. Monday’s relief rally should evolve into intensifying tension as we near the event. It has the ability to send stocks into the first 10% correction in 41 months (23 months overdue), or it could drive a restoration rally. Everything depends on that one little word, “patient,” and whether the Fed leaves it in the statement or not. If it remains, investors will celebrate that rate hikes must be at least put off until September or later; if it is removed, they’ll prematurely panic about June. Stay tuned… Follow our stock market blog here for timely updates.

evil genius
Our founder earned clients a 23% average annual return over five years as a stock analyst on Wall Street. "The Greek" has written for institutional newsletters, Businessweek, Real Money, Seeking Alpha and others, while also appearing across TV and radio. While writing for Wall Street Greek, Mr. Kaminis presciently warned of the financial crisis.

Today’s Market


U.S. Markets

Market ETF
03-16-15
SPDR S&P 500 (NYSE: SPY)
+1.3%
SPDR Dow Jones (NYSE: DIA)
+1.3%
PowerShares (Nasdaq: QQQ)
+1.3%
SPDR Gold Shares (NYSE: GLD)
-0.1%
iShares US Real Estate (NYSE: IYR)
+1.1%
United States Oil (NYSE: USO)
-2.7%
PowerShares DB US$  Bullish (NYSE: UUP)
-0.8%
PIMCO Total Return ETF (NYSE: BOND)
-0.0%

Stocks saw a bit of a relief rally Monday as the dollar came off its highs. I would not count on more of this as we near the Federal Open Market Committee (FOMC) Monetary Policy Statement release. In fact, I would expect stocks to sell-off again and volatility to pickup.

International Markets

03-16-15 Close
EUROPE
%
ASIA/PACIFIC
%
Vanguard FTSE Europe (NYSE: VGK)
+1.3%
Precidian MAXIS Nikkei (NYSE: NKY)
+0.6%
iShares MSCI UK (NYSE: EWU)
+1.1%
SPDR S&P China (NYSE: GXC)
+1.4%
iShares MSCI France (NYSE: EWQ)
+1.7%
iShares Asia 50 (NYSE: AIA)
+1.5%
iShares MSCI Germany (NYSE: EWG)
+2.5%
iShares MSCI S. Korea (NYSE: EWY)
+1.5%
Global X FTSE Greece (NYSE: GREK)
-0.3%
iPath MSCI India (NYSE: INP)
+1.0%

The international markets rallied Monday.

Economic Data


Economic Data Point
Prior
Expected
TUESDAY




2.6%

1.065 M
1.048 M
-Permits
1.053 M
1.058 M

Tuesday’s economic slate includes the start of the infamous FOMC meeting, the one after which all hell could break loose should the Fed remove the cautionary language that keeps it from raising interest rates. That will come on Wednesday afternoon though.

For now, investors have the Housing Starts data to look forward to. Economists expect February’s data to show a similar annual pace of new residential construction, or slightly lower than that of January. Of course, if it follows through that way, the weather will get the blame. The problem with that is that other than north of New York, and perhaps Buffalo and some of the Midwest, the weather has not been all too bad. I wouldn’t be shocked if we saw a decent result for housing starts, but even if we do not, expectations are for a solid spring selling season so this data holds little power to influence stocks. Permits are seen edging up a bit, reflecting expectations for a better March and April.

Redbook’s annual same-store sales change showed an increase of 2.6% last week. Expect something similar for the current report.

Commodity Markets

(03-16-15 Close)
United States Oil (NYSE: USO)
-2.7%
iPath SP Crude Oil (NYSE: OIL)
-3.3%
U.S. Natural Gas (NYSE: UNG)
+0.6%
U.S. Gasoline (NYSE: UGA)
-1.4%
SPDR Gold Trust (NYSE: GLD)
-0.1%
Market Vectors Gold Miners (NYSE: GDX)
+0.2%
iShares Silver Trust (NYSE: SLV)
+0.6%
iPath DJ UBS Industrial Metals (NYSE: JJM)
-0.1%
Teucrium Corn ETF (NYSE: CORN)
-0.2%
Teucrium Wheat Fund (NYSE: WEAT)
+3.3%
Teucrium Soybean Fund (NYSE: SOYB)
-0.3%
iPath DJ-UBS Cocoa (NYSE: NIB)
+0.2%
iPath DJ-UBS Sugar (NYSE: SGG)
+0.7%
ICE Orange Juice Conc.
+1.3%
CME Lumber
-0.2%
CME Live Cattle
-0.2%

Oil collapsed and tested lows Monday despite the dollar coming off its high ground. The energy market was a bit panicked about the supposed oil glut, but I’ll have more to say on this topic over the next day or two so stay tuned. Otherwise, commodities should have traded higher on a softer dollar.

Stock Activity


The earnings schedule for Tuesday includes Adobe and Oracle, and a few others.

EPS REPORTS
Company
Ticker
TUESDAY

Adobe Systems
Nasdaq: ADBE
Arcos Dorados
Nasdaq: ARCO
Bacterin Int’l
Nasdaq: BONE
Burlington Stores
Nasdaq: BURL
Champions Oncology
Nasdaq: CSBR
CleanDiesel Technologies
Nasdaq: CDTI
DSW Inc.
NYSE: DSW
E Commerce China Dangdang
Nasdaq: DANG
FactSet Research
NYSE: FDS
InterOil
NYSE: IOC
Navigator Holdings
Nasdaq: NVGS
Nevada Gold & Casinos
NYSE: UWN
Oracle
Nasdaq: ORCL
Pacific Sunwear
Nasdaq: PSUN
Paragon Shipping
Nasdaq: PRGN
Rentech Nitrogen Partners
NYSE: RNF
RSP Permian
Nasdaq: RSPP
Sky Solar Holdings
Nasdaq: SKYS
Taomee Holdings
Nasdaq: TAOM
Youku Tudou
Nasdaq: YOKU
Zebra Technologies
Nasdaq: ZBRA

YESTERDAY’S MOST ACTIVE STOCKS
BIGGEST GAINERS
% Gain
Sterling Construction (Nasdaq: STRL)
+30%
Recro Pharma (Nasdaq: REPH)
+26%
Affimed N.V. (Nasdaq: AFMD)
+23%
Inovio Pharmaceuticals (Nasdaq: INO)
+20%
Flex Pharma (Nasdaq: FLKS)
+18%
MELA Sciences (Nasdaq: MELA)
+17%
Bellerophon Therapeutics (Nasdaq: BLPH)
+15%
Microvision (Nasdaq: MVIS)
+15%
Minerva Neurosciences (Nasdaq: NERV)
+14%
Carver Bancorp (Nasdaq: CARV)
+14%
BIGGEST LOSERS
% Drop
iDreamSky Technologies (Nasdaq: DSKY)
-33%
Mechel OAO (NYSE: MTL)
-32%
KBS Fashion Group (Nasdaq: KBSF)
-27%
Anthera Pharmaceuticals (Nasdaq: ANTH)
-27%
NTELOS Holdings (Nasdaq: NTLS)
-24%
New Source Energy (Nasdaq: NSLP)
-22%
Profire Energy (Nasdaq: PFIE)
-19%
Seventy Seven Energy (NYSE: SSE)
-16%
Synthetic Biologics (NYSE: SYN)
-15%
LiqTech Int’l (Nasdaq: LIQT)
-15%

DISCLOSURE: Kaminis is short UUP. Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.

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