“The key to investing is not assessing how much an industry is going to affect society, or how much it will grow, but rather determining the competitive advantage of any given company and, above all, the durability of that advantage.” Warren Buffett
Good morning
We have been chopping around all week with concerns about North Korea talks falling apart, a potential China trade war, NAFTA not meeting the Friday deadline, the rising dollar and energy prices and the Fed being overly aggressive on inflation concerns. However, even with all those concerns, the markets have held up fairly well. Neither bulls or bear are really taking the reins as we chop around after a nice six day rally in equities the has the IWM at all time highs while other indexes/sectors are testing price resistance, moving averages or trend line support/resistance as they consolidate.
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Stocks on the radar this morning
1.QTNT Quotient Shares Up 12.6% After Hours Following Commencement Of EU Blood Grouping Field Trial potential day trade small floater testing the 50 day
2. VVUS penny play with 540k CEO buy announced yesterday avg price .56 cents do not chase potential scalp bounce play off the 50 day around .47 cents
3. THYT small float gapper off earnings potential day trade with intra day setup and volume
Shineco Q3 EPS $0.21 Up From $0.09 In Same Qtr. Last Year, Sales $13.3M Up From $7.94M YoY
4. MTEX Mannatech Reports Intent To Begin Cash Tender Offer For Purchase Of Up To $16M In Common Stock potential bounce spot off 200 day super tiny do not chase look for volume
5.EIGR tiny floater potential red to green getting extended on the daily potential scalp or day trade opp
6.VLRX gapper off positive studies should have resistance in the 2 area potential day trade
7. AMRS pr this morning could be approaching a bounce spot in the 4.40 to 4.60 area potential 5 roll Small floater Potential day trade with volume
8. BZUN potential red to green continuation play would also be a good swing candidate on a pull to potential support around 49-50 area
Today's Economic Calendar
Friday's economic calendar:
3:00 Fed's Mester Speech
9:15 Fed's Kaplan Speech
9:15 Fed's Reserve Gov. Lael Brainard Speech
1:00 PM Baker-Hughes Rig Count
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