Opening Look: Oil prices drop further
The market opened on a slightly down note but has now moved back into positive territory.
Oil is dropping again on the news that Iran will release the British soldiers, as a "gift." This has pushed crude down below $64, which should bolster sentiment.
Asian markets were up strongly overnight, with Japan up +1.7%. For its part, the yen is slightly lower vs. the dollar, after yesterday's big drop. This has quieted talk about the yen carry trade unwind.
The 10-year yield is stable, and breakouts are beginning to surface in numbers. This is a great trading environment. Some of the trading names I have initiated recently include: Akamai Technologies (AKAM), Las Vegas Sands (LVS), NYSE Group (NYX), Celgene (CELG), Netgear (NTGR), and Cohen & Steers (CNS).
Long AKAM, LVS, NYX, CELG, NTGR and CNS