Good morning
We have a lot going on this morning. Once again its proving difficult to keep the bulls and the buy the dippers on the sidelines as the markets had an impressive bounce yesterday and held.
After the close we had strong earnings from AMAT, ADSK and CRM which will likely give some fuel to the bulls in the tech and the semiconductor sectors.
Speaking of fuel, there is also chatter that OPEC is considering deepening and extending the oil production cuts & that could give bulls for the oil and energy sectors something to rally around however we also get the rig count later today and if we get another rise in rigs that could dampen the effect of the OPEC chatter. There is also some merger news in the energy and utility space with troubled DYN being targeted by VST with a takeover offer.
In the retail space we have mixed results with GPS SPWH surprising to the upside and FL missing estimates.
Specialty generics could be in play as VRX had some pr and is testing a 14 roll while TEVA caught an upgrade both are thick stocks and probably more swing or long term hold plays but they can provide scalp opps as well.
Brazil ETF's should still be on our radar for potential intraday trading opportunities that BRZU had tremendous range yesterday. You could also watch the EWZ or EEM for less volatile trade opportunities.
The dollar is slightly red in premarket as President Trump heads out for his first international visits and that could be interesting for some and nerve racking for others since there seems to be an awful lot of drama associated with just abut anything he does. That could give some investors reason to lighten up their portfolios equity exposure heading into the weekend.If we do get a red to green open keep an eye on volatility TVIX and UVXY.
Do not chase! Have a plan and know your risk reward.
Best of Success trading.
- SWPH lil gapper off earnings taking out the 5 dolla holla big short interest and small float potential day trade opp
- AGRX thin one insider buys May 11 53k shares 3.50-3.68 holding 50 ema looking for trendline break with volume thin trader do not chase
- GNC already have a limit buy in place trying to get a fill and join the CEO that just picked up 300k shares between 6.69 -6.85 sing or long term hold type play more risky because of long term down trend just had another insider buy yesterday 36k @ 6.86
- CARA bounce yesterday potential follow through and trend line break
- GLYC Gapper after yesterdays run caught some shorts company needs cash but could continue to squeeze DO NOT CHASE look for intraday setup and play size appropriate
- CHGG smoking hot daily looking for trend line break with volume small float 27 percent short interest day trade
- EVRI nice looking daily hot sector gaming recent insider buy 14k shares @ 6.73 potential 7 test and roll more of a swing type play
- GSAT nice looking flag forming rumors of exploring a sale could be a day trade or spec swing play size appropriate
- FOLD pr gapping over 8 could set up for a day trade
- VNET china name pr could set up for a day trade testing a 5 roll in premarket do not chase small float
May 19th 2017 Alpha Wolf Trading Free Friday Stocks To Watch from Alpha Wolf Trading on Vimeo.
