Good morning
The equity markets are getting some follow through of yesterdays action, We have the jobs number coming out in about an hour and that could impact the markets if it comes in with a number that takes the market by surprise. If it is in line with estimates I do not expect any significant reaction for the markets. Gold and oil are flashing red in premarket while the dollar is basically flat.
We have ASCO starting today and running through next Tuesday, This could be an eventful weekend for news flow in the biotech space. It looks like we bay get the scenario we were looking for after that nice swift bounce in the IBB yesterday. Lets see is we get enough positive news out of the conference to take the IBB through that 300 mark with real conviction.
The breadth of the stocks participating as the markets made new highs yesterday was impressive particularly in the small cap space. That could present some great day trading opportunities. Keep in mind that it is Friday so there could be some profit taking heading into the weekend.
The jobs number came in a bit lower than expected and paints the picture that the economy may be slowing and not accelerating as President Trump has been touting would happen under his leadership. Lets see how the market reacts, the good news is we are still growing,
Do not Chase! Have a plan for every trade! Always know your risk reward! Best of Success always!
Stocks in the video
1. LPTH potential continuation day trade or swing trade opp on a convincing breakout Autonomous vehicle play full disclosure I have lotto swing shares in this looking to potentially add or day trade
2. SGYP upgrade after the close Potential day trade or higher risk swing > They could dilute, recent insider buys full disclosure I am in the stock with a longer term hold if you swing play size appropriate for your account
3. BBRY potential swing or long term hold play on a pullback to potential support thick stock nice looking daily ideal entry 10.50 or so
4. VRX another hot looking daily another thick stock but can provide scalp opps probably a better swing though entry as close to 12 as possible and a stop just below 11 1st Target 15 second target 17
5. MYGN pr Potential follow through small float big short interest could be a day trade or higher risk swing almost closed the gap on the daily
6. CHK looking for along term hold or swing entry tremendous amount of insider buying in this price range and over 6 Looking for an entry under 5 for starter position
7. EGHT potential day trade on a 14 roll with conviction just reported good earnings and raised guidance last week
8. MAS more of a swing or long term hold hot looking daily ideal entry on a pullback
9. CMTL hot daily potential day trade or swing look for a 15 roll with conviction
10. AGRX potential day trade opp with volume recent insider buys
11. ZIXI nice daily could be a swing or day trade opp
12. CGIX nice technical setup insider buys in this area could be a high risk swing or day trade
13. CTRP hot daily potential swing or long term hold play
14. BEDU and TPRX both recent IPO's worth watching
15. BABA this is an IRA play on a pullback long term hold close to 100 would be ideal entry could also be a swing consideration on a break over short term trendline
June 2 2017 Alpha Wolf Trading Free Friday Pre market prep from Alpha Wolf Trading on Vimeo.
