Good morning
We get the jobs data out in a couple hours and that could determine the direction the markets take today. Currently we are basically flat across the board with equities, the dollar, gold and oil. There are several sectors and indexes that are in overbought territory and at the very least we may see some consolidation as we work off the overbought condition through time as we approach the beginning of another earnings season just around the corner.
Jobs data is out and came in weak but that was anticipated because of the hurricanes. Equities are pulling back slightly and the dollar is showing a bit of strength. Keep an eye on casinos with merger talk between PNK and PENN and CZR potentially coming out of BK restructuring.
It is important to make sure you have a plan for each and every trade or investment you take. That is what we teach at Alpha Wolf Trading we focus on knowing your risk reward and identifying your stops and your targets before you take the trade. Regardless of your time frame or style of trader/investor you may be. If you are having a difficult time with trading and investing and you are tired of trying to follow others into their trades & experiencing poor results. Join the pack & Alpha Wolf Trading and learn to find, define and execute your own trading and investing plans.
Have a plan, know your risk reward and never chase.
Best of success
Email me @ Tim@alphawolftrading.com if you have any questions I am always happy to help others.
- TROV OVID QURE KDMN orphan drug designations Potential day trade opps
- ALQA MRIN reverse splits potential day trade opps
- SNCR gapper off pr potential merger
- AVEO pr after the close data positive lil gapper potential day trade
- ATHX Nice daily potential red to green play day trade
- HPJ nice daily potential continuation play
- SWCH IPO potential day trade> long term hold starter for me
- VLRS passenger traffic report out > long term hold starter consideration for me
- XXII pr potential day trade could be a higher risk swing or day trade > gapping do no chase pr is somewhat fluffy 10.ETRM Potential high risk swing on a pull back or a day trade opp with volume
- CGNT potential day trade off upgrade 12.IDRA potential day trade opp continuation play
- GIGA gapper do not chase lowered guidance in positive pr headline tends to be a pop and flopper
- IDXG potential swing or day trade looking for red to green continuation
Friday's economic calendar
8:30 Non-farm payrolls
9:15 Fed's Bostic Speech
10:00 Wholesale Trade
12:15 PM Fed's Dudley: Monetary Policy
12:45 PM Fed's Kaplan speech
1:00 PM Baker-Hughes Rig Count
1:50 PM Fed's Bullard: “Standard of Living Across U.S. Metropolitan Statistical Areas"
3:00 PM Consumer Credit
Premarket analyst action - healthcare
Novavax (NASDAQ:NVAX) initiated with Neutral rating by Seaport Global Securities.
Seaport initiates coverage of the following with Buy ratings: Aurinia Pharmaceuticals (NASDAQ:AUPH), Pluristem Therapeutics (NASDAQ:PSTI), Conatus Pharmaceuticals (NASDAQ:CNAT), AVEO Oncology (NASDAQ:AVEO), Cytokinetics (NASDAQ:CYTK), Evoke Pharma (NASDAQ:EVOK); Galectin Therapeutics (NASDAQ:GALT), Galmed Pharmaceuticals (NASDAQ:GLMD), Intercept Pharmaceuticals (NASDAQ:ICPT), Seres Therapeutics (NASDAQ:MCRB), Rexahn Pharmaceuticals (NYSEMKT:RNN).
Cogentix Medical (NASDAQ:CGNT) initiated with Market Perform rating and $5 (75% upside) price target by JMP Securities.
Abbott (NYSE:ABT) resumed with Neutral rating by JPMorgan.
Walgreens Boots Alliance (NASDAQ:WBA) downgraded to Equal Weight by Morgan Stanley.
