If a trader is motivated by the money, then it is the wrong reason. A truly successful trader has got to be involved and into the trading, the money is the side issue… The principal motivation is not the trappings of success. It’s usually the by-product – simply stated, “the game’s the thing”. Bill Lipschutz
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Happy Sunday
Earnings continue this week with some small float high short interest stocks like HEAR AAXN ROKU reporting. If they miss and give a poor guide they could get hit hard. If they beat and raise, we could see some nice squeeze action. HEAR has already run into the number so even if they beat and guide well we could see a pull which may give an opportunity for a long swing entry depending on where it finds support. There are several stocks reporting this week that could provide some nice trading opportunities.
We do not have a lot of economic data to absorb this week however there are likely going to be more "trade war" concerns. It seems like there could be some positive traction developing in the NAFTA negotiations, which if true, could give markets something to rally on. The beneficiaries would be the large cap stocks more so than the small caps.
The Presidential task force is due to make a recommendation on changes to the U.S. Postal Service and package rates sometime before August 10. Any surprises could impact UPS (NYSE:UPS), FedEx (NYSE:FDX), Stamps.com (NASDAQ:STMP) and even frequent Trump target Amazon (NASDAQ:AMZN). Source Seeking ALpha
Last weeks Pro member stocks to watch and their performance for the week
Biotech in consolidation mode watching for a break over the 120 area with conviction to take out the double top if it pulls I want to see 114 area hold as support
Small caps could continue to drift sideways or lower if we get some positive traction with trade war concerns and a potential NAFTA deal its trying to hold the 50 day and just below the 20day would like to see 162.50 hold as support
Transportation has had a nice run recently looking for it to take out 200 dolla holla with authority would like to see the 50 day 194 195 area hold as support if we get a pullback
Semis consolidating nicely near moving averages may be waiting on NVDA earnings which will be reported on the 16th
There have been some nice reports and guidance by some of the smaller players in the space.
Financial stocks continue to consolidate these are typically big thick stocks and are usually more swing or long term hold plays. The sector could be looking at a flat top break out in the near future. 28.50 has been acting as resistance it it takes that out with conviction we could see some nice action in the space
Industrials back above its moving averages and could also be looking at a flat top breakout over the 77 area
Consumer staples could be approaching some trend line resistance. Recently took out the 200 day strong earnings from the space gave the sector a boost. They could be facing head winds with concerns about margins over trade war implications and rising input costs
Health care has been on a nice ramp recently may be looking at a retest of the recent highs. The sector is hot and worth watching but may need some time to absorb the recent move
Nice bounce in the tech space after some big moves from big players like AAPL TSLA ... we could be looking for a test of the recent highs in the 183 area and that could act as resistance
Spy is flagging just below all time highs .. still looks strong and we may be looking at a new high test next week
Highly anticipated earnings
$SNAP $ROKU $HEAR $DIS $DBX $CVS $TSN $TWLO $TRXC $WTW $ETSY $CAH $WB $BKNG $AAOI $NWL $LONE $OLED $SRE $JEC $BCC $SRPT $MTCH $AAXN $TEUM $SEAS $TTD $GWPH $DNR $BHC $NKTR $GOOS $ICHR $KORS $CTL $HTZ $MELI $CTB $PLUG $DDD $MAR $TA
Source Earnings whispers
This weeks sample of stocks to watch for trading and investing from the Pro member Video
$GLW $DISCA $UUUU $AMC $CASI
Full disclosure I took a small starter in AMC prior to earnings and my be looking to add on a pull to the 16 area or on a breakout over 17.50 with volume like it for a flat top breakout has a small float pays a dividend has 26 percent short interest like this for a swing or long term hold play after strong earnings >> If HMNY goes belly up I would expect AMC to benefit over the long tern with additions to their own movie plan and subscriber growth. However, they could also see short term attendance drop if people can no longer use their HMNY movie pass card
Fairly small float has a nice look on the daily Recent S3 by selling shareholders could be a day trade opp on trend line break with volume with 50 day acting as support
More of a swing or long term hold play small float potential take out candidate as John Malone continues to add shares > has a nice technical setup has earnings on the 7th more of a swing or long term play I could look to take a starter into earnings with the intent to add after earnings either on strength or on weakness depending on earnings guide and where the stock finds support
Reported blow out earnings numbers from their latest quarter falggin on the daily could benefit if trade war tensions ease and we get some sort of NAFTA deal. Big thick stock more of a long term hold play pays a dividend has a strong balance sheet
Reported better than expected earnings and cash on the balance sheet. Sector could get a lift from continued shortage of supply for Uranium, it can be a pop and flopper but may be good for a red to green day trade or a potential higher risk swing on a pull to potential price support around the 2.50-2.60 range
Fairly uneventful week ahead for economic data compared to last week.
NEXT WEEK'S MAJOR U.S. ECONOMIC REPORTS & FED SPEAKERS
TIME (ET) REPORT PERIOD ACTUAL FORECAST PREVIOUS
MONDAY, AUG. 6
11 am Survey of consumer expectations July
TUESDAY, AUG. 7
10 am Job openings June -- 6.6 mln
3 pm Consumer credit June -- $25 bln
WEDNESDAY, AUG. 8
None scheduled
THURSDAY, AUG. 9
8:30 am Weekly jobless claims 8/4 218,000 218,000
8:30 am Producer price index July 0.3% 0.3%
10 am Wholesale inventories June -- 0.6%
FRIDAY, AUG. 10
8:30 am Consumer price index July 0.2% 0.1%
8:30 am Core CPI July 0.2% 0.2%
2 pm Federal budget July -- -$43 bln
Source Market Watch
