"The hard part is discipline, patience and judgement."Seth Klarman
Good morning
Equities are bouncing slightly in premarket as gold continues to its grind lower and oil is up slightly. I mentioned yesterday in yesterdays market wrap that we could see oil stall or pull back after the recent run but we could also see momentum continue in the space. GDP numbers come out today and could set the tone for the markets today.
GDP came in much weaker than expected and equities have reversed course off of that print. It could be wild ride today. Be patient do not chase. TZA TVIX UVXY could be in play. Gold which has been extremely weak could possibly get a bounce if real fear starts to appear in the markets.
Today's Economic Calendar
8:30 Initial Jobless Claims
8:30 GDP Q1
8:30 Corporate profits
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
10:45 Fed's Bullard speech
11:00 Kansas City Fed Mfg Survey
1:00 PM Results of $30B, 7-Year Note Auction
3:00 PM Farm Prices
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
nice pop yesterday > potential red to green I wanted this as a swing and missed the entry looking for a pull to 13.50 red to green move small floater potential for a day trade or higher risk swing on a pull to support 11.40-12 could be ideal spot for a swing
could be another low float oil name to break out if oil cooperates 1 seems to be acting as support day trade or higher risk swing with and entry close to 1
GILT Gilat Wins $153.6M of Contracts From Fitel testing a 9 roll trades extremely thin do not chase 8 50 could be a bounce spot but need volume to trade it
failed break out yesterday could find support around 3.50 for a bounce day trade potential with volume
June 27, 2018
4:04:30am NOG+1 Northern Oil And Gas Reports Deal To Buy Producing Assets In Williston Basin Of North Dakota From Whiting Petroleum For $5M In Cash, 500K Shares Of NOG Stock flirting with a 3 roll
TGA was on this weekends watch list in the oil and gas space could be breaking out of range but watch oil action it will likely be tied to that
UPL Avenue Capital Reports 5.5% Stake In Ultra Petroleum an oil and gas name flirting with a flat top base break out
Wednesday June 27, 2018 1:28:52pm
GBR New Concept Energy 13D Filing From Realty Advisors Shows New 2.81% Stake In Co.GBR spiking up 1.7% to a high of 2.46 on high volume Signals tends to pop and flop tiny float do not chase
EDGE Edge Therapeutics Reports Results Of Phase 3 NEWTON 2 Study Of EG-1962 For Aneurysmal Subarachnoid Hemorrhage: Clinically meaningful benefit observed in primary endpoint in pre-specified WFNS 3 or 4 (severe) subgroup' lil gapper small floater could be in play do not chase > day trade only
BP BP to Acquire UK's Largest EV Charging Company; Terms Not Disclosed Could get speculation going about other charging companies being take out candidates > nice looking daily potential swing sitting on top of the 50 day tiny floater higher risk could be a day trade with volume would like to see it take out the 200 day
UUUU Energy Fuels Announces it Has Enough Cash on Hand to Retire 'All or a Portion' of its Long Term Debt I like the daily could be a swing play flirting with a 2 roll
ENDP Endo Wins Citi Upgrade On Positive Catalysts, Cellulite Treatment Opportunity looking foa pull to the 20 day for a bounce flagging on the daily and could be looking at a golden cross in the near future. Higher risk swing on a pull to 8.25 or so day trade on a break over 9.50
OTIV On Track Innovations Announces a 3,000 Unit Purchase Order for Cashless Payment Systems in Japan lil gapper can be a pop and flopper full disclosure I have a little position for a swing company could be a turn around story
