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Market Notes: New Spine Surgery Technique Catching Wall Street's Eye -- March 26

|Includes:BJK, EWI, Global X MSCI Greece ETF (GREK)

4:00 pm ET: After the minor derailment over the Cyprus snafu, the major averages are back on the rally track. Today's precipitous drop in the VIX is telling us that the foreign fears have been allayed for the moment. However, the breakdown seen in the charts of the Spain (EWF), Italy (NYSEARCA:EWI), and Greek (NYSEARCA:GREK) funds are telling us that investors are fearing further instability in the Eurozone's more fragile economies. If the risky banks in Cyprus are allowed (or rather, forced) to tax deposit accounts over $100,000 (to the tune of 40%!) to satisfy bailout demands, then what's to stop a similar taxation of deposits in the riskier banks in France, Spain, Italy, and Greece?

As the Euro picture darkens, so the US picture brightens. Today's durable goods and housing numbers lend credence to a strengthening economy. Riding this wave of optimism is the Gaming etf (NYSEARCA:BJK) which broke out of a two month base to a new multi-year high. As long as consumers have (or think they will have) more money to spend, this completely discretionary group should continue to hit the jackpot.

Quick Trade of the Day: Mazor Surgical Robotics catching the eye of Wall Street
Via its Renaissance technology, Mazor Surgical Robotics (OCTF:MZRTF, $3.67) is an Israeli based biotech company that, according to its website ": is transforming spine surgery from freehand operations to highly-accurate, state-of-the-art procedures, with less radiation--even for minimally invasive surgery. Based on surgeons' experience with SpineAssist and thousands of procedures worldwide (over 15,000 implants), the new Renaissance Guidance System is powered by Mazor Robotics' clinically validated technology."

On February 4th, the stock broke out and volume has been very heavy since then. Clearly, the stock caught the eye of at least one big player and is under accumulation. At this point, the buying pressure doesn't appear to be easing. Note that the stock has gained over a buck since its breakout (+64%) so it could be subject to some consolidation soon. Despite a marked increase in volume, the average daily tally is still only 36k so please use limit orders Note that this is a fairly speculative trade so please play accordingly (i.e., with discretionary funds).

Stocks: GREK, BJK, EWI