Re-cap

Markets went "hog-wild" with overseas news and jobless numbers today, going into the opening of this market day. We were ready for a drop from the start, however, the jobs numbers was announced and the markets become mixed. Can you imagine when a number becomes revised its a positive thing? Well, the number was revised for a drop to 9.5% down for 10%. It appears that the number is a lie and does not compensate for the US Americans that have stopped looking for work, and will not return anything soon. Temp workers increased in the report and temp is a temp, this is not a continuous job.

The Dollar screamed higher, the markets drop on the dollar rocket, over 100 points during the day. Dropping the markets below 10K; during the day. Once the dollar started coming into supply, we started to gain some ground in the stock market. End of Day recapturing the 10K level. It was a pretty light all day, we believe there was a bounce, as the table was set for the weekend.

(1) SEC Chairman Mary Schapiro (She's short on details, hum-mm, standard mo for SEC) promises more curbs on short-selling to come this quarter, amid reports of mixed opinions at the agency. The SEC is also looking to consolidate audit trails at trading venues to give regulators a better view of the entire market.

(2) Goldman Sachs (GS) CEO Lloyd Blankfein, along with GS's president and its CFO, each will receive a stock bonus worth nearly $9M with no cash.

(3) Today may have been saved with a dramatic turnaround, but the week for stocks still ended in the red as sovereign debt fears continue to weigh on the market.

Futures Update

Dow (MAR) -5
Nasdaq (MAR) +5.00
S&P 500 (MAR) -1.25
Delayed 15 minutes

Mixed bag after the Unemployment numbers.

Futures - Pointing To A Lower Open

Dow (MAR) -66
Nasdaq (MAR) -4.25
S&P 500 (MAR) -8.00
Delayed 15 minutes

It appears we are head lower this morning in front of the Unemployment and going in the weekend in a negative number. 6.5 hours for this market to close below or above the 10K level. We will see. Overseas markets saw a bearish control into their weekend.

Waiting for the Jobs numbers to come out in 10 min.

AMZN - Updated

AMZN - We closed just below $116.00 per share, we are looking for the stock to back fill the gap left in Oct 2009. However, this stock must drop below and closed at $110 per share first. This is not a recommendation nor a solicitation for this security. It appears that AMZN has acquired Touchco to compete with the Ipad from Apple, and they are still in publishing talks on pricing of author books.

V - Updated Chop

V - Well this played out pretty well and the market overall helped out a lot on this one. As you can see that the V pushed up through the $86 per share level and than proceed to sell off from there. Unemployment numbers are due out 2/5 Friday morning at 8:30 AM ET. Per the daily chart, we are in the middle of trying to close a gap left in Dec for the second time around.

MA - Drop $25 per share lower on the day, as it reported earnings before the bell.

Visa Earnings - After Hours

V - Came in with good numbers after the bell, however there maybe some profit taking in the morning on this one. Appears supply is around the $86 per share level, which should be a great shorting opportunity.

Remember, big EcoNews report are still on deck for this week.

AMZN - Has completed a bounce off of the Nov 4; low and price is still under the MA and volume was pretty light at this point time. We will see how this market will play off the demand level for this stock. A big player does not want it to go below $115, for some reason. Humm, TA suggest a M pattern with lower highs and lower lows. As you can see we have pushed below (last two trading days with tails), however, we have not made a closing of below the $115 level on a daily basis. A break below will drop the stock to $110 per share.

Futures with EcoNews!!

Dow (MAR) +49
Nasdaq (MAR) +3.75
S&P 500 (MAR) +5.35
Delayed 15 minutes

Futures appear to be going higher this morning into the opening with XOM and HUM earnings on tap. Overseas market were down across the board, so it maybe a morning bounce for us, since Friday put us down 7% for 2010.

EcoNews - Storm Watch:

1-Feb	10:00	ISM Index	Jan
2-Feb	10:00	Pending Home Sales	Dec
3-Feb	8:15	ADP Employment Change	Jan
3-Feb	10:00	ISM Services	Jan
3-Feb	10:30	Crude Inventories	29-Jan
4-Feb	8:30	Initial Claims	30-Jan
4-Feb	8:30	Continuing Claims	30-Jan
4-Feb	10:00	Factory Orders	Dec
5-Feb	8:30	Nonfarm Payrolls	Jan
5-Feb	8:30	Unemployment Rate	Jan

Holiday Schedule

2010 Stock Market Holidays	Date
New Year's Day	January 1,2010
Martin Luther King, Jr. Day	January 18,2010
Washington's Birthday/Presidents' Day	Febuary 15,2010
Good Friday	April 2,2010
Memorial Day	May 31,2010
Independence Day	July 5,2010
Labor Day	September 6,2010
Thanksgiving Day**	November 25,2010
Christmas	December 24,2010
**The NYSE Trading Floor closes early (1PM ET) on Friday November 26,2010 (The day after thanksgiving)

Remember, the professional money managers often vacation around scheduled exchange holidays.
They may also close positions several days before, causing lighter volume around the stock market holidays.

AMZN - Post Review

Well it was a pretty interesting day, as we moved higher to only sell off in the end of day. GDP number was better the analyst had expected and that was pretty much the end of the EcoNews. We did not go below 10K, we will see if this will happen in Feb. Jan tends to be the tell for the year and it is having a hard time, at this writing.

AMZN reported earnings last night and it was good for a $700 to the downside, since the market open this morning. NASDAQ was the first to drop down into negative territory, then the S&P. We do not count the DOW, due to it only having 25 stocks. Resistance is 131 and Support is 119.99 levels. Price did not close below the 20 day MA on this Daily chart, however, the Dollar gap into the close. So, if we get a close below the 20 day MA look to test the support level. This is not a recommendation or solicitation of this stock or any other charts displayed here.

Morning Futures

Dow (MAR) +48
Nasdaq (MAR) +9.50
S&P 500 (MAR) +5.25
Delayed 15 minutes

Appears to be a higher open based on the reconfirmation of Helicopter Ben for 4 more years as FED Chair. Dollar is also coming into resistance and we should see on gains in the markets today, GDP is to be release at 8:30 ET, we will see it this might break the markets down.

Overseas market closed lower for the week.

Futures

Dow (MAR) -2
Nasdaq (MAR) +1.00
S&P 500 (MAR) -0.50
Delayed 15 minutes

After - State of the Union Address

This is an Daily chart of the SPY - mid day, with the market professional gap up (overnight and market orders fills) in the morning the sellers stepped in and have taking this market to the downside. Sup 108.00, if this breaks than we are looking for 107.15 for a new support level.

Obama, State of the Union address, appeared to us the same old thing that was stated in his presidential race to the White House. Unemployment, still in a decline.

9:00 PM

9:00 PM Obama: State of the Union Comment!

It appears the market have moved on from the FED news (Fed keeping interest rates near zero), and now focusing on the State of the Union from Obama. GS was roared back from a drop of 2 points to the downside to a gain for the day. Traders are looking for what the President will say or not say in the State of the Union. Encore with the Unemployment number will be stated at 8:30 AM ET on 1/28/2010.

9:00 PM Obama: State of the Union Comment!

Before

This is a snap shot of the spy before, today's news events . Let's see how it pans out in the coming days.

Wednesday's economic calendar: HotTopic

Today the Futures are point up to a modest opening, as traders take a wait and see approach to the following news events. Overseas markets where pretty modest with there losses or gains as will, waiting to see what we will do, as these events unfold.

10:00 New Home Sales
10:00 Hearing: AIG Counterparty Payments
2:15 PM FOMC Announcement
9:00 PM Obama: State of the Union Comment!


SPY Sup 109.05 and Res 110.50
UUP Sup 23.05 and Res 23.18

Bloomberg news: SEC May Approve Restrictions on Short Sales When Stocks Plunge

Concern that short-sellers accelerate stock declines may prompt the Securities and Exchange Commission to adopt a rule next month aimed at curbing bearish bets when equities are plunging.

The regulation would require the trades be executed above the best existing bid in the market when shares fall 10 percent in a day, said Brian Hyndman, the senior vice president in transaction services at Nasdaq OMX Group Inc. Jan. 23 (Bloomberg) By Nina Mehta

Read more at the link below.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aMWQn8mCXZxM&pos=5

Market Expects - EcoNews

Date	Time (ET)	Statistic	For	Mkt Expects
25-Jan	10:00 AM	Existing Home Sales	Dec	5.90M
26-Jan	10:00 AM	Consumer Confidence	Jan	53.5
27-Jan	10:00 AM	New Home Sales	Dec	370K
27-Jan	2:15 PM	FOMC Rate Decision	27-Jan	0.25%
28-Jan	8:30 AM	Initial Claims	23-Jan	450K
28-Jan	8:30 AM	Durable Orders	Dec	2.00%
29-Jan	8:30 AM	GDP-Adv.	Q4	4.60%
29-Jan	9:45 AM	Chicago PMI	Jan	57.4
29-Jan	9:55 AM	University of Michigan Sentiment	Jan	73

Earnings Preview for the week of Jan 25th-29th: : Of the hundreds of companies reporting earnings the week of Jan 25th-29th some of the bigger names include:

Monday: AKS, HAL, DGX, AMGN, AAPL, JDAS, TXN, VMW, and ZION...

Tuesday: ABC, BHI, GLW, DAL, DD, EMC, ENR, JNJ, MHP, NVS, NUE, TRV, X, VZ, GILD, MCK, RFMD, SYK, and YHOO...

Wednesday: ABT, BLK, BA, CAT, COP, GD, ITW, SAP, STJ, TEL, UAUA, UTX, WLP, ETFC, GMCR, HOKU, MUR, NFLX, NSC, QCOM, SYMC, TSCO, WEN...

Thursday: MMM, ALK, MO, T, BAX, BDX, BC, CL, EK, LLY, F, GR, LMT, MJN, MOT, NOK, OXY, OSK, POT, TWC, UA, ZMH, AMZN, GNW, KLAC, JNPR, MSFT, and SNDK...

Friday: ACI, CVX, FO, HON, MAT, and PCAR.

Quick Bounce? More To The Downside

Well tomorrow, we are looking at the Feb 550 Call for less than 43.10 per contract, this would be for quick scalp. Earnings did not change so, and China proposal it is there, but the IBM, AA, INTC, GS drop is in effect. The professionals may run it in the morning and drop it likes it hot before 9:45 AM. Who know, will see in the morning. We current to do hold this trade, and it is not a recommendation or solicitation for this security.

There is also no economic news to the market so it may help with the digestion of the last few days and shorten holiday week.

Earnings Are In Full Swing

Well this is a pretty wild ride and the first time that the market has tanked on the New President. At around noon the President was talking about the White House proposal on "Taxing The Banks". GS was in the front running to the downside, due to the taxing on the bread and butter on the firms income which is "Trading".

Order Of Earnings

Ticker Price
1 IBM 131.78
2 SLB 70.83
3 CAT 60.12
4 MSFT 30.86
5 JNJ 64.56

Most of these have a potential to sell of into the news of its earnings, it is know that no one should trade on the minutes before the earnings announcement news. Old adage: "Buy The Rumor and Sell The News". Friday's drop in the market due to the earnings announcements of the AA, INTC, JPM, which were for the most part favorable, however. The market, which we believe was trying to full digest the jobs numbers and FED news, also with Monday being a Holiday and the US Market will be closed and re-open for a full trading day on Tuesday with a shorten week. Stocks suffer the worst one-day decline of 2010 so far, led by the financial sector,as 1 in 10 American workers remains unemployed. It could have been far worst than what we saw on Friday, PPT, FED, or GS are they doing us a favor in setting false hopes, feel good it was not as bad has we need it to be.

Trader decided to take some of the gains off the table and move on to the festivities.

With the HFT and TAXES we may see more selling the days to come with April 15th; just around the corner, some will have to pay the taxes from last years gains, if there were any to be had. It is hard to tell in this new age market, adept and trade the hell out of it when it goes your way.

Keep the powder dry and take what the markets give ya!!