Good morning
Equities are up slightly in premarket as we are awaiting the latest PPI numbers. Several indexes and sectors remain guilty till proven innocent. The caution flag is still waiving as we see a lot of choppy action with little follow through in either direction. I am keenly focused on the China names like BABA BZUN HUYA and IQ. The cannabis sector remains volatile and continues to have some big movers, If you play in the space make sure it is size appropriate. Earnings season is likely going to be the catalyst that determines the direction of the markets over the next several weeks.
The hurricane headed towards Florida could put pressure on oil prices >Oil producers - including Anadarko (NYSE:APC), BHP Billiton (NYSE:BHP), BP (NYSE:BP) and Chevron (NYSE:CVX) - have evacuated many personnel, with nearly 40% of daily crude oil production shut in the Gulf. On watch are also insurers, power providers, hospitals, livestock and crop producers, generator manufacturers and building stocks.
Today's Economic Calendar
7:00 MBA Mortgage Applications
8:30 Producer Price Index
10:00 Atlanta Fed's Business Inflation Expectations
10:00 Wholesale Trade
11:30 Results of $36B, 3-Year Note Auction
12:15 PM Fed's Evans: Economic Outlook
1:00 PM Results of $23B, 10-Year Note Auction
6:00 PM Fed's Bostic: Economic Outlook
Click here for the charts of the stocks below
$XELA
Exela Technologies Wins Three-Year, $100M Payment Processing Contract With A Global Bank I have some lottos left over in this name from the 4 and change range and am considering adding back to the position as it flirts with the 7 dolla holla it is an under followed name has had some insider buys and they announced a share buyback plan a little while back Nice sized contract award and worth keeping an eye on the name
$LPTH I have a position that I have been wanting to build out and yesterday the stock may have put in a reversal candle but the daily if looking pretty weak. I am in no rush to add but if it were to pull to the 1.50 area and hold I could be looking to add if it pulls and then takes out yesterdays high with volume I may look to add this is a longer term hold for me I have played it several times. They would be a beneficiary of a strong 5 g roll out.
$REV potential flat top break out play tiny floater that had a big move yesterday 10 percent owner continues to buy shares. Could be a day trade or higher risk swing play potential red to green mover
$AVP is a potential sympathy play to REV but it is a much thicker stock they also have a potential catalyst if Brazil names continue to act well. A bulk of AVP's business comes out of Brazil they are going through a restructuring with a new ceo and executive team that has bought shares in the range 1.89-1.93 more of a swing play
$NVCN gapping pre market
Shares of Neovasc are trading higher after the company's medical device was granted "breakthrough device designation" by the FDA. Recent reverse split tiny floater do not chase they need cash likely an offering soon could set up for a day trade opp
$NIO
NIO shares are up 11.1% after hours following earlier reports Tesla's top outside investor, Baillie Gifford, has taken an 11% stake in the company. Gapper potential red to green follow through.
$KNDI potential sympathy play to NIO recent insider buys could be a swing play with an entry as close to 5 as possible can be a pop and flopper so do not chase
$VLRX
Valeritas Holdings shares are trading higher after the company announced data from its V-Go device was published in a peer reviewed journal. gapper they could stand to raise some capital soon .. potential day trade looking for a 2 test and roll
$TPIV flirting with a 9 test potential day trade tiny floater
TapImmune's HER2/neu-Targeted Breast Cancer Vaccine To Be Studied In A Phase 2 Immunotherapy Combination Study Funded By $11 Million U.S. Department Of Defense Grant
