February 10, 2023

Markets:

U.S. stock futures were lower Friday morning after a batch of disappointing quarterly reports, as Wall Street heads for a weekly loss.

Investors will seek more detail on the central bank’s policy from Fed Governor Christopher Waller and Philadelphia Fed President Patrick Harker. Both are slated to speak on Friday afternoon.

On the economic data front, the University of Michigan will issue its preliminary consumer sentiment reading for February.

Oil prices rose Friday after Russia said it will cut output by 500,000 barrels a day following a slew of Western bans and price caps on Moscow’s crude and oil products implemented over the last few months.

April gold futures eased 0.65% to $1,878.5 the ounce on Thursday after touching an intraday low of $1,870.9, but remain higher by 0.1% week-to-date, on pace for the seventh advance in eight weeks.

Gold is up almost 3% in 2023.

Portfolio:

Great week and we enter the last trading session of the week holding one position in TGTX.  We will be watching technicals very closely today.  Arguement can be made for a turn technically but we need more confirmation.  The hard line in the sand for us to move to a bearish call would be 3900.  Still a ways away but looking at the trend lines we follow, this is our line.  We would love to see a move and hold back above 4100 on the s&p.  Watching closely to see how specific sectors respond today and the type of activity we see.  Be on alert, be ready, and better believe this is only fueling the next move.  Let's have a great session.