The Quiet Ahead Of The Storm

Good morning. We have a quiet morning so far with stock-index futures little changed. To find something actionable, today very much will remain a "stock-specific" environment.

Amid some of the notable movers this morning, premarket gainers are: ISIS, SLXA, EFUT, ANPI, KNOT, ORCT, MEND, TRMP, TIVO, DNDN, XOMA, RFMT, ATVI, UAUA, CHINDA, SPLS, ESRX, QCOM, and EBHI. Premarket losers are ILMN, ELNK, AAUK, EMMS, SWKS, SNDK, RTP, GI, PAAS, TEVA, and RIMM.

It wouldn't surprise me to see some strength amid the quiet. Though there is some anxiety regarding tomorrow's reports on consumer spending and inflation, this market has been able to handle everything that has been thrown at it. Obviously, anything that hurts the perception of a soft landing (higher inflation, slower growth, weak consumer, etc.) would not be received well but for now traders are going to keep their eyes on the short-term trading range set at this month's highs and lows and set stops accordingly with a strong bias to buy weakness until proven otherwise.

Let's have a profitable and productive week!