What our daily watch lists are like

What our daily watch lists are like

 

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Good morning team!

 

Futures seem to be slightly red to flat today.  The Nikkei is down over 150pts with the Euro markets both in the red as well.  The VIX however hasn’t moved all too much so concern is still out of the consumers mind.  NAFTA negotiations are supposed to be resolved by Friday, so we could see a news release that could boost the market if they are agreed upon, or drop the market if there is no agreement.  US/China trade talk is still a big elephant in the room to watch out for as well.  Tariffs are supposed to be issued next month and China is still insisting the US backs down.  

 

I don’t think we see a major sell off here yet as it looks like we have seen a bounce off of support again.  In fact, if we hold these levels I think we see the market ramp up again around lunch time.  I’m seriously blown away by the consumer sentiment with everything going on.  Like I said yesterday, play the market how it is but don’t put your entire bank account long in case something bad happens.  I’ve seen it happen far too many times with options that volatility can drop option values 50%+ in a few minutes.  

 

Events Calendar for Today

· 8:30 AM EST Weekly Jobless Claims…est. 213K

· 8:30 AM EST Continuing Claims…est. 1.73M

· 8:30 AM EST Personal Income for July…est. 0.4%

· 8:30 AM EST Personal Spending for July…est. 0.2%

· 8:30 AM EST PCE Deflator MoM for July…est. 0.1%

· 8:30 AM EST PCE Core MoM for July…est. 0.2%

· 8:30 AM EST PCE Core YoY for July…est. 2.0%

· 9:45 AM EST Bloomberg Consumer Comfort Index…prior 58.6

· 10:30 AM EST Weekly EIA Natural Gas Inventory Data

Earnings Calendar:

· Earnings Before the Open: ANF, BBW, BURL, CIEN, CPB, DG, DLTR, DXLG, KIRK, MEI, MIK, PDCO, SIG, TD, TECD, TITN

· Earnings After the Close: AMBA, AOBC, COO, LULU, MEIP, NTNX, ULTA, YEXT

 

 

Symbol

ALK

Exp Date

9/21/2018

Strike

$70

Last Trade

$0.65

Comment

Watch for volume in the underlying security to confirm upward trend. 

 

 

Symbol

MGM

Exp Date

9/21/2018

Strike

$30

Last Trade

$0.55

Comment

3 and 8 EMA crossed over the 20 MA. Watching for volume and a break toward yesterday’s high. 

 

 

Symbol

PNK

Exp Date

9/21/2018

Strike

$35

Last Trade

$0.35

Comment

Pushing away from the 50 with volume. 

 

 

Symbol

AAPL

Exp Date

9/21/18

Strike

$225

Last Trade

$3.20

Comment

Continuation of the 3 over the 8 with separation. 

 

 

 

Symbol

DNKN

Buy

9/21 72.50

Last Price

.90

Targets

73.30 breakout watch, run to 76.30

Comment

Possible daily squeeze ready to fire

 

Symbol

SRPT

Buy

9/21 $140

Last Price

6.67

Targets

147.49, 152.05 and 157.12

Comment

Breaking up from consolidation with volume

 

 

 

 


 

 

Note: We encourage all traders and investors to develop personal trading rules that you can follow and that work for you. Always protect your downside and note that we alert extremely volatile short-term trade opportunities.

 

 
Trading Rules [Please Review Before Taking Any Action]:

 

  1. Do not invest more than you are willing to lose. No one likes to consider the worst case, but it’s always a risk that exists. Rule of thumb - if you cannot sleep at night as a consequence of your investment, then you have over invested.
  2. Keep calm. Do not chase. Decide for yourself if you like the trade. If you are not comfortable with the perceived risks, stay out. Timelines are to be decided by you. Approach methodically, and seek technical confirmation for direction. Always trade with a strategy in mind.
  3. Never use market orders. Only use buy and sell limit orders. Protecting your investment is more important than missing gains. Use "trailing stop %" or "trailing stop $" orders. Personally I prefer mental stops while actively managing trades rather than entering your stop into your brokerage account.
  4. Cut losses quickly when day/swing trading. It's better to acknowledge being wrong than to have false hope. Sometimes you will be wrong in doing so, often times it will save you. It all depends on your entry.
  5. Actively manage all your investments & trade during market hours only.Trading during pre/post market hours carries greater volatility/risk.?

 

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