Ahead of the open, (27-04)

Market doubled its day gains post noon hour as upward bias once again caught people flat footed and chasing into the afternoon/close.  Yesterday, noted the upside risks and also potential to reclaim SP1400, starting with a better than expected Initial claims.  Well, seems market didn’t mind initial claims disappointing, maybe because spike in Pending home #'s took some of the heat off recent related data.  Still, the spin is likely that a disappointing I.C # put some QE back on table following Bernanke’s remarks on FOMC day.  All QE asset classes rising together signal this. 

  

All in, SP got over 1392 range top on most radars, a second day over 20ma, RUT pushing over 20ma.  Most stocks escaped ‘inside day’ on charts noted yesterday.  A little digestion of 3% uptick since Monday’s low is in order, but mentality should revert to buying the dips, which eventually would allow for SP 1400 to be reclaimed.

  

GTLS, EQIX  were earnings winners off the Shadowlist, gaining 10% and 13% respectively.  LVS, more of a momo’ stock caught the selloff draft despite good EPS as many names recently noted.

   

Retail earnings heats up in May, but a few small/mid- caps coming in early were pretty positive today.  Most retail links off Shadowlist put in >2% gains (KORS, VRA, LULU, FOSL , RL). Those names keep list balanced and at max. ~45 equities, other retail closely followed like COH VFC  PVH TIF  are never far away to mix in the group