Good morning. US equity futures are broadly higher, SPX +25pts, we’re set to open at 4791. USD is +0.2% at DXY 95.81. The precious metals are leaning weak, Gold -$7, with Silver -0.2%. WTIC is +0.4% in the $74s.
sp’60min
Summary
First, I bid you a warm welcome to a new year. More than anything, I expect 2022 to be a more dynamic year, it should offer some good swing trading opportunities.
I’ll publish my outlook for 2022 this coming weekend. Suffice to note right now, I really like SLB, FCX, and BAC, with a contempt and disdain for TWTR, which appears set for another lousy year (unless someone is dumb enough to launch a takeover bid).
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2021 ended a little weak, with a baby bear flag playing out. S/t momentum settled on the low side.
Overnight futures have been leaning on the positive side, mostly helped by European markets. We’re set to open around 4800. I would be surprised if we break a new hist’ high (>4808) in the near term. On balance, we should still see some cooling to around 4700.
Having exited a few things last week, yours truly has some spare cash to fill up a shopping cart, but I see no reason until 4700. I can wait some days if necessary.
I hold…
OXY, SLB, KMI, RIG
BAC, UEC, CFVI
GOLD, NEM, AG, HL, KGC
My target re-buys: CLF, X, FCX, MOS, MRO, XOM
New pick ups: F
Again though… there seems no hurry until the next cooling wave.
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Early movers
AAPL +0.4%
AMD +1.2%, CEO Su due early Tuesday at CES 2022
BA +1.2%
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BAC +0.7%, Barclays maintain ‘overweight’, 49>58. I hold to psy’ $50, with secondary of 70/75.
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CCJ +4.1%
CCL +1.8%
CLF +0.6%
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COIN +1.9%
Bitcoin is +0.1% in the $47000s, as resistance of 52/53k is proving very tough to clear.
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DIS +0.7%
DKNG +0.5%
F +1.4%
FCX +0.9%, with copper -1cent to $4.45
GDX -0.4%
GOLD -0.3%
HOOD +2.0%, Ms. Wood of ARK is apparently still averaging down.
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LAC +2.9%, bullish Lithium
MRO +0.9%, Citi 17>20, Mizuho 24>23
MU +0.8%
NVDA +1.6%
OXY +1.1%, Citi 35>38
PFE +0.7%
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PTON +0.9%
PYPL +1.9%, BMO 224>278
RIVN +1.8%
SLB +1.2%
TGT +0.5%
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TSLA +7.3%, JPM maintains ‘underweight, 250>295’, for what is comedy gold.
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TLT -0.3%, as yields climb
TWTR +0.8%, but the stock remains short/mid term horror
UAL +1.2%
UEC +5.4%, hot Uranium stocks
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VIX +0.2% in the 17s
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WFC +1.3%, higher yields are helping the US banks
X +0.6%
XOM +0.7%
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Overnight markets
Whilst the US is spinning up, many markets are taking a day off…
Japan: CLOSED
South Korea: -0.1% at 2988
China: CLOSED
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Germany: currently +0.9% at 16027
UK: CLOSED
France: currently +1.2% at 7236
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Have a good Monday, January, Q1, H1, and 2022!