Investors Run to More Defensive Stocks

morningcallS&P futures are down about eight handles this morning we see perhaps some profit-taking in world markets. Also, we saw JP Morgan (NYSE:JPM) and Wells Fargo (NYSE:WFC) surpass earnings expectations pre-market, but both stocks are trading lower ahead of the open. Overall, it would be healthy to see the market rest after a quick snap-back to new all-time highs following the Friday jobs report gap down.

Another interesting development pre-market is that Gold SPDR Gold Trust (NYSEARCA:GLD) is down around 1.5% and testing macro support. Recently, despite ongoing QE from the US Federal Reserve and massive easing programs from Central Banks like Japan, you have seen GLD act very weak, which is a red flag. Could governments be unloading their Gold hoards, or could Gold funds be starting to unravel? Who knows, but GLD is certainly something to watch.

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ScottRedlerScott Redler has been trading equities for more than 10 years and has more recently received widespread recognition from the financial community for his insightful, pragmatic approach. He began his career as a broker and venture capitalist where he was able to facilitate relationships that led him into trading. Beginning his trading career at Broadway Trading in 1999, Scott moved on with Marc Sperling to Sperling Enterprises, LLC after establishing himself as one of the best young traders in the firm. As a manager at Sperling Enterprises, he maintained his status as a top trader in the industry while working closely with all traders in the firm to dramatically increase performance. Scott has participated in more than 30 triathlons and one IronMan triathlon, exhibiting a work ethic that also defines his trading. His vast knowledge and meticulous attention to detail has led to regular appearances on CNBC, Fox Business and Bloomberg, and he has been quoted in the Wall Street Journal and Invest.

Scott is currently the Chief Strategic Officer of T3 Live and is a Registered Associated Person of T3 Trading Group, LLC.

*DISCLOSURES: No relevant positions

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