There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. Jesse Livermore
Good morning
Earnings have been strong this quarter but the "trade war" fears seem to be weighing on the markets. The employment situation report for July is due out this morning and could set the tone for the day. Equities are up slightly in premarket with gold still struggling and oil basically flat. The Jobs number came in weaker that expected which could actually be good for the markets if they interpret it as a reason for the Fed to relax its hawkish stance on future rate hikes.
Tech had a nice rally yesterday led by AAPL and TSLA after their earnings. TTWO is gapping this morning off of better than expected earnings while ATVI is basically flat after reporting a soft guidance. The GAMR ETF has broken below a long term trend line and sitting on the 50 week EMA the 46 area needs to hold as support or we could see more weakness in the space.
Today's Economic Calendar
8:30 Non-farm payrolls
8:30 International Trade
9:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
1:00 PM Baker-Hughes Rig Count
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SWIR
Sierra Wireless Q2 EPS $0.27 Beats $0.21 Estimate, Sales $201.9M Beat $199.17M Estimate
Sierra Wireless Sees Q3 Sales $198-$207M vs $198M Est., EPS $0.22-$0.30 vs $0.25 Est.
Sierra Wireless shares are trading up 12.7% after the company beat Q2 earnings estimates and issued strong Q3 sales guidance.
Sierra Wireless Receives TSX Approval for Normal Course Issuer Bid Gapper off earnings into potential price resistance potential entry on a pull to the 200 day around the 18 area could be a swing or day trade opp with volume
Announced a contract yesterday flirting with 15 roll did a recent capital raise which priced at 11 Like the daily setup could be a day trade or short term swing has earnings coming up in the next couple weeks
Gapped off better than expected earnings yesterday potential red to green play with an ideal entry near the 3 dolla holla as potential support could be a swing or day trade opp with volume
WIFI Boingo Wireless shares are trading 28% higher after announcing that it will acquire Elauwit Networks for $28 million in cash, as well as reporting strong quarterly earnings.
Potential red to green after huge move yesterday could just consolidate worth keeping an eye on for a pullback or pattern to develop on the daily as it trades in blue skies a pull to the 30 mark could be a bounce area
TTOO T2 Biosystems Q2 EPS $(0.32) Beats $(0.33) Estimate, Sales $3.93M Beat $2.86M EstimateT
T2 Biosystems Raises FY18 Sales Guidance From $10M-$12M To $10.5M-$12M vs $10.3M Est. Little gap off earnings 200day could act as support 5.80 area worth watching to see if it holds as support for a bounce probably more of a day trade if it has some volume
PXLW Pixelworks Q2 EPS $0.00, Sales $19.251M Beat $18.47M EstimatePixelworks (NASDAQ:PXLW) reported quarterly sales of $19.251 million which beat the analyst consensus estimate of $18.47 million by 4.23 percent. This is a 7.09 percent decrease over sales of $20.721 million the same period last year. Pixelworks shares up 11.7 percent after the company beat Q2 sales estimates.Gapping off earnings can be a pop and flopper do not chase 3.25 potential support area possible red to green day trade opp
NGVC
Natural Grocers Q3 EPS $0.09 Beats $0.03 Estimate, Sales $213.13M Beat $209.32M EstimateNatural Grocers (NYSE:NGVC) reported quarterly earnings of $0.09 per share which beat the analyst consensus estimate of $0.03 by 200 percent. This is a 200 percent increase over earnings of $0.03 per share from the same period last year. Natural Grocers Sees FY18 EPS $0.48-$0.50 May Not Compare to $0.26 Est. flirting with the 50 week moving averages at 15 could be more of a swing play ideal entry could be in the 13.50-14.00 range
GTES Gates Industrial Raises FY18 Outlook, Now Sees Sales Growth 10-12%, Adj. EBITDA Raised From $738M-$758M to $745M-$765M
Recent IPO big gapper yesterday off earnings potential red to green or continuation play
INOV Inovalon Holdings Q2 EPS $0.13 Beats $0.08 Estimate, Sales $152.8M Beat $147.08M Estimate
Inovalon Sees FY18 Sales $568-$593M vs $564M Est., Raises Adj. EPS From $0.32-$0.38 To $0.34-$0.40 another earnings related mover sitting on the 200 SMA could see a gap fill and bounce 11 area could be a bounce spot
Held the big gap up off earnings
BPI
Bridgepoint Education Shares Up 19% Premarket After Co. Announces Quarterly Financial Results; EPS Rose 152% YoY, Operating Income Increased 132% YoY flagging on the daily very small float watching for a pull to 12.50 area see if it holds as support or a break with volume over 13 for a DT
INAP INAP Reaffirms FY17 Guidance, Sees FY18 Sales $320M to $330M vs $277M Est. 13 and the 200 day could act as resistance small floater potential day trade looking for potential red to green
Huge gapper on this tiny floater not seeing news to justify the move.. if you play it play size appropriate Do not chase tends to be a pop and flopper
