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Market Looks to Build on Early 2013 Strength

Scott Redler and Pete Renzulli
Jan 11, 2013, 10:38 AM

Pete Renzulli, Mentor in the T3 Live Active Trader Room, sees how the market is doing, and takes an in-depth look at the financial and tech sectors and walks through the charts of several stocks on his must-watch list, including Visa (NYSE:V), General Motors (NYSE:GM) and Goldcorp (NYSE:GG).



Futures are basically flat after two nice days of gains. Technically you couldn’t have asked for a better start to the year.  We started with two strong days, then got give days of consolidation, giving some traders/investors time to get in and then further upside.


Markets closed strong and are a stone's throw away from the September highs. How we deal with that area will be interesting. Do we stall at 1474? Do we push through and ignite another short squeeze? And then how do we close if that occurs? Anything can happen, so prepare if/then scenarios for each.



Wells Fargo (NYSE:WFC) beat EPS estimates by two cents, but the stock is opening lower. Keep that in mind as we face bank earnings early next week. After big rallies in recent months, the banks could need stellar reports to trigger more upside. Remember the Financials ETF (NYSE:XLF) is up 4.5% this year already, on top of a move that started from this Summer. Remember the first strategy was when Bank of America (NYSE:BAC) was $8 bucks, so don't get greedy here.



Last night was a busy media night as I hosted CNBC Asia. Take a look at some of the videos below.


US Equities Aren't Dead: Pro Description:
Thursday, 10 January 2013 5:10 PM ET
Scott Redler, Chief Strategic Officer, says U.S. equity markets have started 2013 on the right note. He adds that the S&P 500 could reach 1,500 pretty quickly if it manages to close above 1,474


Adopt a 'Portfolio Approach' to Investing Description:
Thursday, 10 January 2013 5:20 PM ET
Scott Redler, Chief Strategic Officer, advises investors to take 5-7 stocks that they know very well and manage them until market conditions changes


Riding Boldly Into Earnings Season - but Watch Out
Thursday, 10 January 2013 6:32 PM ET
"I think it's going to be really tough to get through this earnings season without fits or starts. There's so much riding on this earnings season because of expectations for growth going into 2013. I think it could be pretty dicey," said one analyst.
Source: | By: Patti Domm


We are hosting a 5-day Trading Lab on our lower Manhattan trading floor during the week of January 21st. The Lab is an intensive trading education boot camp, and in addition you get exposed to a dynamic, live trading environment. In my opinion, this is one of the most valuable trading education experiences we offer. There are still a few spots left for qualified individuals, so if you are interested fill out an application.

As a New Year's special we are also offering a $500 credit towards any one of our T3Live Online Courses.





*DISCLOSURES: Scott Redler is long GE, DECK, LNKD, BAC, INTC, F, TBT, FB. Short SPY.

Last Updated ( Friday, 11 January 2013 11:40 )