Good morning
It is Friday before a long holiday weekend so it could be a very low volume day. Equities are lower in premarket following through on yesterdays weakness caused by fears of the Trade war with China potentially escalating after new chatter from Trump that he is ready to ratchet up the tariffs on $200 billion in goods. There could be good news on the trade front if Canada decides to join in on the NAFTA deal. That news could be announced today.
The dollar seems to be finding support and if it strengthens we could see the multinationals and large caps struggle. Gold is up in premarket and could actually be finding a bottom but a stronger dollar could derail the attempt.
The Cannabis space is under attack by shorts> Citron has successfully targeted CVSI and CRON and there may be more names on the way so be careful in the space. It has created some volatility in the space which can setup into decent day trading opportunities.
Today's Markets
In Asia, Japan -0.1%. Hong Kong -1%. China -0.5%. India -0.1%.
In Europe, at midday, London -0.5%. Paris -1.1%. Frankfurt -0.8%.
Futures at 6:20, Dow -0.2%. S&P -0.2%. Nasdaq -0.1%. Crude -0.7% to $69.77. Gold +0.6% to $1212.0. Bitcoin -0.5% to $6945.
Ten-year Treasury Yield -1 bps to 2.85%
Today's Economic Calendar
9:45 Chicago PMI
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count
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Click Here For the Charts of the stocks Below
$AVP significant insider buys in this area could be a swing or long term hold play Thick stock new management potential turn around story. 1.60 -1.86 area could be ideal entry zone looking for a potential 3 test
$ATEN
A10 Networks Q2 EPS $0.02, Inline, Sales $60.713M Beat $60.46M Estimate good looking daily testing a 7 roll in premarket fairly small float golden cross on the daily sitting above all moving averages
$CANG
Cango Q2 EPS $0.07 Does Not Compare To $0.62 Est., Sales $35.71M recent IPO flirting with 10 roll trades extremely thin. DO NOT Chase and look for volume for potential day trade opp
$INSY
Insys Therapeutics shares are trading up 45.1% after the FDA granted Fast Track designation for its epinephrine nasal spray as an investigational treatment for anaphylaxis. Also a cannabis related play small floater has some legal issues from prior management could set up for a red to green day trade opp
$LTBR some insider buying in the dolla holla range nothing significant but worth noting decent looking daily testing a 1 roll do not chase could be a red to green play with an ideal entry .86-.95 range I also like the daily on $UUUU which is in the same space. $UUUU could be more of a higher risk swing play entry range 2.65-3.00 range
$MEET
Option Alert: Feb 15, 2019 $6 Calls Sweep (25) at the Ask: 718 @ $0.45 vs 401 OI; Ref=$4.875 good looking daily potential swing or day trade opp with volume flirting with 5 roll potential entry area 4.50-4.85 area
$NIHD potential day trade with volume or higher risk swing potential 6 test and roll no news just like the daily setup pull to the 50 day or 5 dolla holla could act as support bounce area.
$RIBT potential swing significant insider buys and 10 percent owner buying in this area 2.69- 2.90 area could be ideal entry area for a swing ... may also be a day trade with volume
$SSKN STRATA Skin Sciences 8-K Shows Member Of Co. Board, Uri Geiger, Filed Complaint Seeking Action For Declaratory Judgment In Court Of Common Please, Montgomery County, Pennsylvania
UPDATE: STRATA 8-K Shows Action Filed By Geiger Seeking Declaration Plaintiffs Not Liable To Defendant, Ra Medical Systems not reacting to the news but daily looks decent tiny floater do not chase could be a day trade or higher risk swing
$VHC gapping off Patent news and judge ruling against APPL. Could get some follow through play size appropriate has a tendency to pop and flop 24 percent short interest and small float
