"Remember this: When you are doing nothing, those speculators who feel they must trade day in and day out, are laying the foundation for your next venture. You will reap benefits from their mistakes. After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting." Jesse Livermore
Good morning
Equities are up slightly in in pre-market with the NASDAQ setting new all time highs. The petroleum status numbers are out today which could impact oil and energy names. The black bubbly is trading flat in premarket. Monthly trade numbers come out today which could give us an indication of whether or not all the trade war talk and tension is actually having an impact on the numbers. Gold is down slightly while the dollar is basically flat as we await those numbers.
All three of the above companies are in the packaged food space and each have their own potential technical setup SMPL is sitting on the 200 day recent insider buys in this area small floater BRFS recent double bottom rumors of takeover interest thick stock almost a billion shares testing the 50 SMA CALM working on a potential flat top breakout small float
Casinos got hit yesterday and in full disclosure I have long term hold positions in MGM and CZR DDE but could be looking to add if the weakness continues Would love to add CZR near the 10 range and MGM under 30 WYNN could be a nice starter in the 166 area close to the 200 day MA and I also have shares of DDE I could look to add in the 1.50-1.60 range after they started taking Sports betting yesterday
Potential red to green small float nice pattern on the daily could be a day trade opp with volume they are losing money day trade or very short term swing only for me
Great looking daily lots of insider buying bouncing off the 50 day looking for potential follow through maybe a red to green more of a swing play for me
ROKU
Roku Shares Break Out Above $39 Level rumors of potential M&A interest could get some follow through > smaller float up slightly in pre market potential red to green could be a day trade or higher risk swing
Small floater nice pattern on the daily potential 2 test and roll do not chase look for an intra day setup tiny floater can be a pop and flopper
Thick stock broke out yesterday could see some follow through looking for red to green could be a day trade or higher risk swing play 24.50 could act as price resistance
CNDT
UPDATE: Conduent Is Targeting To Divest Added $500M Of Sales From Select Customer Care, $100M Of Public Sector Contracts
UPDATE: Conduent Filing Shows Recent Sale Of 3 Non-Core Assets: Consulting And Actuarial Segment Of HR Services, Off-Street Parking Business, Commercial Vehicle Operations Unit hot looking daily could be just breaking out looking for a 20 test and roll thicker stock more of a swing or long term hold play a break over 20.50 would put it in blue sky territory
ENG
ENGlobal Reports Recently Formed Alliance Task Force To Perform Engineering, Project-Related Services On Planned, Multiyear Series Of Projects On Behalf Of Major Independent E&P Co.; Expected To Generate Incremental Sales $6M+/Year tiny floater gapper need volume to trade it do not chase they likely need to raise cash currently reviewing strategic alternatives potential golden cross in the making play size appropriate could be day trade or higher risk swing
Today's Economic Calendar
7:00 MBA Mortgage Applications
8:30 International Trade
