Good morning. Things are looking up in the early going and
premarket futures indicate we'll see a sizable gain at the start.
The hope that yesterday's selloff was a successful test of Monday's lows (S&P 1440), the high expectation that the market will rally during Thanksgiving week from oversold conditions, and today's option expiration are having positive influences. Also helping out are some positive news from tech leaders Cisco Systems (CSCO) and Garmin (GRMN).
Premarket gainers: GRMN, CSIQ, CNTF, STAR, DRYS, RMBS, PWER, CTEL, RIO, EXAS, DSCO, GIGM, ESLR, AKNS, SIMC, MPEL, DSX, KLIC, ARII, ANX, TBSI, POT, GCA, ETFC, HPQ, SPWR, YHOO, SPWR, CBST, BIDU, EJ, RIMM, VCLK, and CSCO.
Premarket losers: ACTG, NCTY, SBUX, HBAN, DITC, ADSK, CHRD, SLXP, STV, MSCC, and ACAS.
After the open we have the report on industrial production at 9:15. Fannie Mae (FNM) will also hold a Q&A this morning to discuss its accounting procedures and the housing market. While overseas markets are lower (in reaction to weakness here yesterday), commodities are moving higher across the board.
This week's highs and lows will remain the levels to watch as we go forward. Options expriations are challenging to trade so pick your spots carefully.
