Premarket 1/17/2012

Morning folks! Market gapping up nicely here. Nice if your already long a bit tricky if your flat. WE got a 1% move so far premarket in the SPY following some nice overseas gains.

European markets are higher in afternoon trading. Britain’s FTSE 100 added 0.56%, Germany’s DAX gained 1.75% and France’s CAC 40 advanced 1.22% on the session.
Asian stocks ended the session higher. China’s Shanghai jumped 4.1%, Japan’s Nikkei 225 added 1.05%, and Hong Kong’s Hang Seng gained 3.24%

Commodities are ripping all over the bored off the China gdp news. All these stocks should be in play today if gap holds. After Fridays weakness the bears had a prime opportunity to add pressure to the market it would see todays gap has negated any advantage they gained friday putting bulls back firmly in control. Now gaps are tricky to trade especially on opex weeks. So Ill be selling off a bit of what i have left in positions if the gap looks like its not going to hold as the market tends to be all over the place this week.

[screencast url=”http://screencast.com/t/clgAhMpblyq3″ width=”” height=””] gappers im watching this morning. KUTV might be interesting on youtube parnterhsip. its up 50% though will need to pullback then go.