“Throughout my financial career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you.” – Larry Hite
Good morning
A huge earnings week comes to an end with GDP numbers on deck. The number could set the tone for the markets with expectations of 4 percent growth and some even calling for a 5 handle. We have not seen that kind of growth in a very long time. How the markets will react could be interesting. A really strong number may have the markets start worrying about the Fed and how aggressive they will be with rate increases.
Equities and the dollar are up slightly in pre market with gold and oil slightly lower.
BPI had a big pop off earnings BPI potential red to green follow though day
ABCD could be a sympathy play nice looking daily setup
Several names in this space have nice looking setups this could get a 3 test and roll earnings are coming up potential day trade or short term swing
Flagging just under long term trend line and the 200 day earnings coming up may be worth watching for a trade heading into earnings and potentially a swing after earnings depending on results and guidance 13 seems to be trying to act as a floor insider buys in the 13.20-13.50 range
Thick stock gapping off pr of asset sale and seeking alpha article more of a swing or long term hold play flirting with a 5 test and roll
ENDP Endo Int'l. Reports Par Pharma Has Begun Shipping Authorized Generic Version Of Merck's INVANZ taking out 12 and a trend line after flagging could be a an intra day setup for a trade
Reported good earnings flirting with a 6 roll nice setup on the daily potential swing play on a pull to support entry close to 5 could be ideal
flagging on the daily earnings Aug 9th could be a day or short term swing trade ahead of earnings 14 seems to be acting as support I would not hold through earnings unless it was just a lotto position
Recently did an offering @ 9.90 per share insider buys in the seven range could be a swing or long term hold play in this range an entry in the 6.50 to 7.00 range may be ideal
Good luck trading today.
