“An investor without investment objectives is like a traveler without a destination.” – Ralph Seger
Good morning
Equities are up in premarket as we look to close out the month of June. The dollar is slightly lower with oil and gold basically flat. Financial stocks could be worth watching as all but one passed the Fed's stress test and capital plans. The sector has been down 12 sessions in a row and could get some follow through off of yesterdays bounce. These are typically thick stocks and are more swing or long term hold type plays. Several names are below their 200 day but may look to reclaim it.
We have several indexes that are sitting on their 50 day MA support with short term oversold conditions QQQ IWM IBB . The SMH is below its 200 day and the SPY is below its 50 day.
Oil and energy were the hot sector this week however we have some short term overbought conditions and we saw a few reversals yesterday in the low float runners like PED and CEI. Be careful if you are looking to go long in that space.
NKE crushed earnings and it hitting all time highs in pre market retail could get a lift in sympathy. Homebuilders likely to get some positive action after strong earnings earlier in the week from LEN and this morning KBH.
TRVN Trevena Reports Completion Of Phase 1 Study Of TRV250, Advances To Phase 2 Study As Data Suggests Potential For TRV 250 To Be First Selective Delta Receptor Modulator gapping in premarket testing 2 roll day trade only very early stage and they will likely need to raise cash do not chase
ZFGN Zafgen Shares Up 22.9% After Co. On Saturday Announced Positive Results From Phase 2 Proof-Of-Concept Trial Of ZGN-1061 In Patients With Difficult-To-Control Type 2 Diabetes
Zafgen Prices 8M Share Offering At $7.50/Share had a nice red to green yesterday could get some follow through with 10 test and roll small float do not chase look for a pull to 9 and bounce
Low float pop yesterday and gapper today potential red to green play super thin float play size appropriate 2.65 is the 200 day could be a good bounce spot I like the solar space in general with the high oil price VSLR and SUN also worth watching
May have had a failed break out yesterday looking for a potential red to green play looking for 3.25 -3.60 potential support for a bounce could be a day trade or potential higher risk swing swing
BABA Option Alert: Jul 6 $197.5 Calls Sweep (60) at the Bid: 1194 @ $0.728 vs 1176 OI; Earnings 8/16 Before Open [est] Ref=$188.63 more of a long term hold or swing play reclaimed the 200 day looking for some follow through
DERM Dermira Reports Received FDA Approval For Qbrexza Cloth To Treat Primary Axillary Hyperhidrosis
Gapper off approval fairly small float 12% short interest could be in play look for a clean setup huge gap on the daily that could potentially fill
BZUN is another name that is more of a swing or long term hold type play trying to reclaim the 50 day an entry close to 50 could be ideal
GEMP Gemphire'S Gemcabene Meets Primary And Secondary Endpoints In INDIGO-1 Study big gapper small floater likely going to raise capital soon off this pop could be and intra day set up for a day trade 9.50 -10.80 area could act as support for a bounce do not chase it
Several recent IPO high fliers could be finding areas of support for bounce plays HUYA IQ SOGO also worth keeping an eye on for day trade opp
APEN Apollo Endosurgery Receives Special 510(k) Clearance for OverStitch Sx Endoscopic Suturing System potential flat top break out over the 7 dolla holla small floater not really reacting to this news but could be wort watching look for potential support close to 6
SPCB SuperCom Shares Up 27% Premarket Following Earlier Press Release Highlighting Pres, CEO Expectation For 'a significant improvement in EPS and EBITDA compared to Q4'17' UPDATE: SuperCom Pres, CEO Highlighted 8 New Multi-Year Project Wins In Last 6 Months gapper tiny float potential 2 test and roll with volume day trade only likely to raise capital soon
