Good morning
Financial stocks are reporting earnings this morning and so far they are coming in strong with JP Morgan and Citi beating estimates however the stocks may have already priced in the earnings. Keep an eye on the sector or individual names that you like for a pullback to an area of potential support for swing or long term hold positions.
Equities are popping once again in premarket after some economic data just hit with the dollar pulling back. Gold is surging in premarket while oil is basically flat. The last few days the gap ups have made trading a bit more tricky and the follow through has been hard to find with a lot of choppy action and we could see more of the same today as we head into the weekend. Do not chase and make sure you have a clear plan for your trades. Always know your risk reward and play size appropriate.
Retail sales dip in June
June Retail Sales: -0.2% M/M to $473.5B vs. +0.1% expected, -0.1% prior (revised).
Ex-autos: -0.2% M/M vs. +0.2% expected, -0.3% prior
Ex-gas and autos: -0.1% M/M vs. +0.4% expected.
Control group -0.1% vs. +0.3% consensus., +0.0% prior.
Consumer Price Index remains unchanged in June
Consumer Price Index: Unchanged vs. +01% consensus, -0.1% prior.
Core CPI +0.1% vs. +0.2% consensus, +0.1% prior.
Friday's economic calendar
8:30 Consumer Price Index
8:30 Retail Sales
9:15 Industrial Production
10:00 Business Inventories
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count
Stocks in todays video
1. CTIC potential day trade do not chase
2. AKS and X steel names could get some follow through thicker stocks more of swing or long term holds on pull to support
3. CLIR fluffy pr do not chase potential scalp on pull to support
4. HDS more of a swing potential bounce spot @ 29 JPM upgrade with 36 PT
5. AFMD PT of 7 potential day trade or higher risk swing 2.50 could be good support for a bounce flat top break out
6. BMY potential long term hold or swing off cluster of moving average support
7. KTOS caught a downgrade looking for entry on a pull to support swing or long term hold consideration
8. CGI new CEO turn around story potential day trade off news or swing after next quarterly results do not chase
9. NTNx conviction buy list GS 31 PT gapper do not chase could be day trade or swing on pull to support
10. EIGR 32 PT sold off a division low float super thin do not chase potential day trade or higher risk swing
11. BIOS nice daily looking for a 3 roll day trade or higher risk swing
12. AKCA IPO could be worth watching for a day trade opp
July 14th 2017 Free Friday Premarket Prep from Alpha Wolf Trading on Vimeo.
Best of Success Trading and have a great weekend.
