"Learn to take losses. The most important thing in making money is not letting your losses get out of hand. Also, don’t increase your position size until you have doubled or tripled your capital. Most people make the mistake of increasing their bets as soon as they start making money. That is a quick way to get wiped out." Martin Schwartz
Good morning
The summit is over and Wall Street seems uninspired and unimpressed by the event. The focus will now turn to the CPI number due out this morning and the Fed statement and press conference tomorrow. Equities are slightly lower along with gold and oil while the dollar is higher.
The US district court may deliver a decision on the AT&T -Time Warner merger today. If approved Disney could pull back which may present an opportunity to take a starter for the long term hold portfolio. S and TMUS may also react to the the ruling in sympathy to whatever the outcome may be.
Genius Brands International to Host Business Update Conference Call & Webcast on Tuesday, June 12, 2018 at 11AM ET/8AM PT Depending on the news could look to add or sell some shares from the long term hold account I could also look to take a day trade or short term swing depending on the volume and price action I will be listening to the call today DO NOT CHASE look for a clean setup
Block Trade: BSTI 500,000 @ $12.755
Block Trade: BSTI 1.2M @ $12.705 Another recent IPO that closed strong and testing a 13 roll potential swing or day trade opp 163 million in the float some nice block trades yesterday. Could get some follow through
Recent IPO name that broke out and closed at HOD could be a red to green continuation play I did not see any news small floater do not chase
Pfenex Inc (NYSE:PFNX) shares are up 5 percent after announcing with Alvogen a deal for commercialization of PF708 in the U.S. Thin stock potential 50 day bounce off pr day trade opp with volume do not chase
Nice rice action yesterday after good guidance more of a swing play looking for red to green 10.- 10.50 could be a nice entry spot 12.25 target
Looking for dips after strong earnings and entry as close to 7 as possible would be ideal more of a swing play tiny floater higher risk play
nice looking daily setup could be a day trade opp or higher risk swing being a biotech just priced an offering @ 9 per share Look for a break over 10.80 with volume
AST Asterias Biotherapeutics Reports First Patient Dosed In First In Human Clinical Study Of AST-VAC2 In Non-Small Cell Lung Cancer sitting on the 50 day flirting with a trend line break and 2 roll
P continues to consolidate more of a swing play would like an entry @ 7 or lower
SIRI also consolidating settled a law suit could have gotten rid of a potential overhang on the stock nice looking daily very thick stock potential long term hold play on a pull to the 50 day or 6.50 range
Press release sitting on the 200 day flirting with some price resistance @ 3.50 thicker stock could be a swing on a pull to 3 area or day trade with high volume break over 3.50
RIGL Rigel To Present Phase 2 Results For Fostamatinib In Autoimmune Hemolytic Anemia At EHA looking for potential 3 support bounce day trade opp with volume
AMRS Amyris Announces Signing Of Major UCP In Porto/AICEP Consortium Project Agreement Valued At $50 Million potential bounce spot on the daily flirting with 5 support small floater need to reclaim the 50 day could be a swing or day trade opp
Today's Economic Calendar
FOMC meeting begins
6:00 NFIB Small Business Optimism Index
8:30 Consumer Price Index
8:55 Redbook Chain Store Sales
1:00 PM Results of $14B, 30-Year Note Auction
2:00 PM Treasury Budget
