"Emotional control is the most essential factor in playing the market. Never lose control of your emotions when the market moves against you. Don’t get too confident over your wins or too despondent over your losses." Jesse Livermore
Good morning
Equities are up slightly along with gold and oil with the dollar down just a tad. Trade fears will continue to be something for the market to focus on as the G7 summit approaches Canada is set to vote on and potentially approve the pathway for recreational cannabis. If approved legal sales of the whacky weed could begin as early as 10 to 12 weeks from now. Several cannabis stocks have been moving in advance of this event. If you are playing in the space be prepared for potential follow though or it could wind up being a sell the news event. A few names I like in the space TRTC full disclosure I took a small position in TRTC yesterday but because of the high risk associated with the name I did not send out a trade plan on it I did not want people to follow me without doing their ow due diligence in the sector. BUDZ KSHB and CRON which has a chart below.
ALPN good looking daily chart bouncing off the 50 ema small floater trades very thing potential day trade with volume
ARQL On May 17th Arqule Shares Down 6.3% After Hours Following Registration For 10.629M Common Share Offering via Selling Holders I posted this because there is likely an offering coming they are supposed to Present Clinical Data For BTK Inhibitor, ARQ 531At 23rd Congress Of European Hematology Association (EHA It has already had a nice run and could get a break over six with volume for a day trade lots of selling A 5 buy some big holders do not chase
ATHX Athersys Announces Expansion Of Collaboration With Healios; Healios To Obtain Licenses For Development And Commercialization In Japan Of MultiStem For ARDS UPDATE: Athersys To Receive $20M In License Fees And Up To $360M In Milestones potential day trade gapping in premarket 3 is a big spot could act as support for a bounce
BZH I like the daily on this one it is sitting right on potential support it has a death cross on the daily but I like this one for a long term hold play and would like to start building a position home builders have been under pressure but we have a lack of inventory and we are entering the spring home selling season looking for an entry at 15 or lower
report earnings after the close I am holding shares through earnings see if we get follow trough of the recent move or if we get a pull back. If earnings and guidance are good but the stock price pull back I will look to add and build out my position
CRON potential red to green 8 roll day trade or higher risk swing cannabis play
Nice move yesterday potential red to green move day trade looking for a pull to the 200 day for a bounce lots of option activity yesterday potential 8 test and roll
Significant insider buys it can be a pop and flopper but in this area it could be an interesting high risk swing play
EYES
Second Sight Medical Products Director Gregg Williams Buys 43,843 @ Avg Price: $1.92 it was actually 70k shares over the last same director owns 27 million shares
small floater little pop yesterday potential red to green follow though day did not see any news for the move
Russell Pointed this extremely thin trading IPO out yesterday afternoon high risk could be a red to green play off of a flat top breakout yesterday
A1 posted this chart in the room this morning I saw it as well and like the setup for potential flat top breakout recent 10 percent owner and insider buys 1.5 million shares @ roughly 1.50 a share could be a high risk swing play
as a Cleveland Browns fan I am almost compelled to take this just because of the symbol JK DOGZ
Dogness 1H EPS $0.18 Up From $0.13 In Same Period Last Year, Sales $14.83M Up From $8.94M YoY earnings could get a 5 test and roll very thin trader
Today's Economic Calendar
Chain Store Sales
8:30 Initial Jobless Claims
9:45 Bloomberg Consumer Comfort Index
10:00 Quarterly Services Report
10:30 EIA Natural Gas Inventory
3:00 PM Consumer Credit
4:30 PM Money Supply
4:30 PM Fed Balance Sheet
