Buyers Come Back

Good morning. After stocks around the world lost about $2.1 trillion of market value last week, premarket futures point to at least a positive start to the new trading week. More earnings reports, some M&A activity (IR & VMED), and strength in overseas markets are helping. The combination of extreme oversold conditions and end-of-the-month window dressing are seen as two bullish catalysts.

Among many stocks that look primed for gains, notable premarket winners are RCCC, GPCB, VVUS, VMED, WVCM, CVTX, HOKU, LOCM, SEPR, IBKR, ERIC, LOGI, TASR, NSANY, ABB, CROX, ABXA, GRMN, ASML, LVLT, and AAPL. Significant losers were VCLK (after a terrible earnings report), FRPT, RTLX, AHM, FNDT, GILT, ALVR, SONA, DNDN, BPHX, and AMZN.

Few investors are going to trust the strength, so today's reversal will have to continue to build steam throughout the day. Repair from last week's meltdown is going to take some time but gains across the board today and tomorrow will be a decent first step. This week is a busy one in terms of economic data, but there are no reports scheduled for Monday and that's probably a good thing. Let's get to work!