Lock In Profits?

Good morning. Premarket futures have a slightly negative bias this morning as overseas markets are mixed and traders are tempted to lock in profits.

Stocks moving higher in premarket trading include HPQ, CWTR, PMCS, CHINA, SLAB, CRM, MNTA, NYER, GYMB, BTUI, CMED, IACI, ERICY, HSOA, AAUK, RIMM, UAUA, CROX, and ATPG. Notable losers include CTRN, ARXX, RDEN, TOMO, RMBS, MRVL, GME, ZUMZ, TIE, BEAS, LTON, OVTI, NVDA, NTAP, BRCM, QCOM, ATML, and NTLI.

The day before options expiration tends to be volatile (as well as the day itself). Premarket trading indicates that at least some of the reversals we've seen this week will come under pressure today. It will be interesting to see what extent that occurs and which stocks give up the most of their recent gains. We have the leading indicators report due out at 10:AM and the Philadelphia Fed Survey at noon. There is also a speech by Dallas Fed President Richard Fisher this afternoon.

I'll be back a later on with some links to share. Until then, have a very productive morning!