“OUR GAME IS TO RECOGNIZE A BIG IDEA WHEN IT COMES ALONG, WHEN ONE DOESN’T COME ALONG VERY OFTEN. OPPORTUNITY COMES TO THE PREPARED MIND.” -CHARLIE MUNGER
Good morning
Equities are basically flat in premarket as the dollar and oil are down slightly. Gold is up just a tad as breaking news of the Trump administration imposing steel and aluminum tariffs on the EU, Canada and Mexico hit the wire.
Keep an eye on the shippers as there are several good looking technical setups in that space.
Stocks on the radar this morning
Jim Cramer said that instead of Cronos Group Inc (NASDAQ:CRON), he would rather be in Canopy Growth Corp (NYSE:CGC). CRON could be looking to test the 50 day may be a day trade or higher risk swing opp with an entry near 6
FRO
Frontline Shares Rise 9.5% Premarket After Q1 Results Beat Estimates took out the 200 day into earnings getting some follow through in pre market could be a swing on a pull to 4.90 -5 area
NAT
Nordic American Tankers In Letter to Shareholders Confirms Sale Of 2 Vessels For $9M-$10M Per Vessel potential higher risk swing Flat top break out on the daily big gap to potentially fill an entry as close to 2 as possible would be ideal for either a long term hold play or swing
SFUN
No news but nice looking daily chart thicker stock China name plenty of liquidity to get in and out potential red to green day trade or swing trade off of 50 MA support
SNDX
Syndax Pharma, Nektar Therapeutics Report Non-Exclusive, Clinical Collab. To Evaluate Safety, Efficacy Of Nektar's NKTR-214 In Combo With Syndax's Entinostat In Patients With Metastatic Melanoma Previously Progressed On Treatment With Anti-PD-1 Agent Bear flag on the daily getting a little pop in premarket small floater 8.50 could be support area potential 10 test and roll lots of resistance overhead play size appropriate
TYME
Shares Of Tyme At Highs Up ~10% As Traders Circulate Vague, Unconfirmed Chatroom Rumor Of M&A Interest nice looking daily flagging just below the 200 day... potential day trade with volume has not been able to hold its attempts to take out the 4 dolla holla top wicks over the last few days, They likely need cash soon so day trade only and do not chase
UONE Tiny floater with no news big pop yesterday on good volume could be a red to green mover >play size appropriate if you take it and do not chase. Only 1 million shares in the float but could be a squeezer for early shorts
VDSI
VASCO Acquires Dealflo FOr E$41M In Cash Nice looking daily recently downgraded on valuation concerns small floater overbought 21 is potential support next area of resistance on the weekly is in the 25 range there is a gap to fill on the daily could be a day trade opp with volume red to green could present a nice setup do not chase.
KTOV
Kitov Pharma Shares Rise 18.6% Premarket; No Specific News But May be Due to Upcoming FDA Decision... Ca not find any financial data on this company with a quick scan day trade only do not chase gappin this morning play size appropriate if you take it
APPS
Full disclosure I already have a swing in the name looking for some follow through on yesterdays move trying to take out the 50 day could be swing or day trade opp with volume
QSII
Cantor Fitzgerald Upgrades Quality Systems to Overweight flaggin on the daily 18 is a big spot for potential flat top break out on the weekly could be a swing opp with entry in the 15-16 range
VTVT
vTv Therapeutics Reports Licensing Deal With Newsoara Biopharma To Rights For vTv's PDE4 Inhibitor In China, Other Pacific Rim Territories gapping into resistance Small floater pr lacks some detail but could get some follow through can be a pop and flopper do not chase looking for red to green play day trade opp
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Today's Economic Calendar
7:30 Challenger Job-Cut Report
8:30 Initial Jobless Claims
8:30 Personal Income and Outlays
9:45 Chicago PMI
9:45 Bloomberg Consumer Comfort Index
10:00 Pending Home Sales
10:30 EIA Natural Gas Inventory
11:00 EIA Petroleum Inventories
1:00 PM Fed's Reserve Gov. Lael Brainard: Economy and Monetary Outlook
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