Morning Call: Stocks Rebound from Small Pocket of Selling

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February 23, 2012 11:51am NASDAQ:QQQ NASDAQ:QQQQ

US stock futures are higher Thursday morning, rebounding from Wednesday’s pocket of weakness. The market has been on a relentless charge in 2012, up 8% so far, so yesterday’s pocket of selling was not surprising or alarming for bulls. Some healthy


digestion would be a positive for many bulls, who would prefer to buy back into size at slightly lower prices. Jobless claims this morning had little effect after remaining unchanged at 351,000.


Traders will continue to watch oil prices, which rose overnight. Tensions are rising in Iran, where the government is resisting closer inspections from the international community. The US and others are taking a harder line, and potential confrontations seems to grow more likely by the day.

On a stock specific front, Vivus (NASDAQ:VVUS) more than doubled overnight after the FDA approved its weight-loss drug Qnexa. The stock had been under pressure in the past few days as investors anticipated a rejection of the drug. Hewlett-Packard (NYSEArca:HPQ) is down 1.5% after the company reported a 44% drop in profit and missed expectations. Sears (NASDAQ:SHLD) is up more than 10% despite swinging to a fourth-quarter loss.

Scott Redler Scott Redler is the Chief Strategic Officer of T3 Live. He develops all trading strategiesfor the service and acts as the face of T3 Live. Mr. Redler focuses on thorough preparation and discipline as a trader. Scott 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 Journaland Investor’s Business Daily among other publications. Scott produces much of the media and content available to subscribers and followers. T3LIVE.com is an online financial media network and education platform that provides active traders and investors with market analysis, real-time access to strategies, and in-depth training from real traders, real-time.   This material is being provided to you for educational purposes only. No information presented constitutes a recommendation by T3 LIVE or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy. The content neither is, nor should be construed as, an offer, or a solicitation of an offer, to buy, sell, or hold any securities. You are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs.Visit the T3Live Homepage, Virtual Trading Floor, and Learn More About Us.

*DISCLOSURES: Marc Sperling is long (NYSEArca:VXX), (NASDAQ:REGN), (NYSEArca:SLV), (NYSEArca:IBM), (NYSEArca:MCP), (NYSEArca:AGQ), (NASDAQ:GSVC), (NASDAQ:WYNN), (NYSEArca:GLD), (NYSEArca:BA), (NYSEArca:LGF), (NASDAQ:FCEL), (NYSEArca:RAX),(NASDAQ:DNDN), (NYSEArca:FIO), (NASDAQ:GMCR), (NASDAQ:ZNGA), (NASDAQ:GRPN). Short (NASDAQ:NFLX), (NASDAQ:QQQ).


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