Good morning
What a difference a day can make. Listening to some of the financial networks it was the beginning of the end yesterday.
Volatility is coming back in a big way as we are looking at yet another V shaped snap back in premarket. Being a die-hard short is proving to be very difficult in these markets. These volatile days can provide a great short term trading environment. Gap up days can be very tricky especially heading into a long holiday weekend so be careful. Do not chase, have a plan and know your risk reward.
Tech and Semi conductor sectors still look guilty till proven innocent but that doesn't mean you can't trade some quick snap backs.
Steel names which have shown some strength recently could see some pressure today if the Trump administration does not complete their self imposed deadline to complete the national security study on steel which was supposed to be completed today.
Financials are likely to be a sector to continue to watch from the completion of the stress test and the capital plans announced from the banks. Today we have news out of Berkshire and the conversion of BofA preferred shares into 700m common shares.
Oil and energy names continue to be worth watching with some names showing signs of potential bottoming action. Oil has been grinding the last 4 days we get the rig count today if we get another rise in rigs maybe oil takes a little pause.
Biotechs healthcare and small caps had some healthy consolidation this week and remain my favorite sectors to keep a close eye on.
Bitcoin has been all the rage lately and I plan to do a little homework on some names that are in the space this weekend to see if there could be some opportunities there worth taking. There are a few penny plays that actually have pretty decent looking charts. Pure lottery ticket type plays.
IPO's today
AKCA TNTR BY
Friday's economic calendar
8:30 Personal Income and Outlays
9:45 Chicago PMI
10:00 Consumer Sentiment
1:00 PM Baker-Hughes Rig Count
- SKLN Gapping off pr and letter to shareholders can be a pop and flopper so do not chase potential day trade opp tiny floater 2.CARA potential snap back play off support day trade only 3.CAFD Earnings sector is weak but could be in a bounce area this is probably more of a swing on a pull to support than a day trade 4.CHFS Gapper tiny floater could get interesting do not chase it already pulling back from premarket highs look for potential support around .95 cents to bounce 5.MRNS potential day trade opp with volume look for intraday setup 6.WKHS Potential follow through on a 4 roll after a pullback and bounce off support on the daily 7.NS Potential swing of long term hold on a pull to support around 43 pipeline deal to Mexico 8.NXTD Potential follow through day trade look for an intraday setup do not chase 9.NKE Gapper thick stock more of a swing or long term hold on a pull to support 10.RAD and FRED both potential snap back plays may see more weakness in the near term look for that capitulation spike down
June 30th 2017 Free Friday Premarket Prep from Alpha Wolf Trading on Vimeo.
