“If you don’t study any companies, you have the same success buying stocks as you do in a poker game if you bet without looking at your cards.” Peter Lynch
Good morning
We have the Fed announcement today and this can be a tricky trading day. There is often a head fake move directly after the announcement while the statement gets analyzed, absorbed and eventually interpreted into what it might mean for the economy and equities. We are likely looking at the first interest rate increase from out new Fed chairman Powell but the focus will be on potential inflationary pressures and the pace of further rate increases. Keep an eye on the dollar and gold after the announcement.
A potential government shutdown is looming in the background as congress continues to negotiate on a spending bill. The good new is that if we can get a spending bill completed and the Fed does not say anything that the markets consider to hawkish we could have a nice bounce in equities over the next week or so.
API oil inventory data came in with an inventory decline that was not expected. If the petroleum inventory report confirms that today we could see some continued strength in oil and energy names.
Wednesday's economic calendar (03/21/2018)
7:00 MBA Mortgage Applications
8:30 Current Account
10:00 Existing Home Sales
10:30 EIA Petroleum Inventories
2:00 PM FOMC Announcement
2:00 PM FOMC Forecast
2:00 PM Chairman Press Conference
- FENC Fast track designation small floater potential 10 test and roll day trade only likely needs to raise cash do not chase need volume to play it 2.BAND recent IPO breakout on the daily testing 32 roll potential red to green small floater potential day trade or higher risk swing because of the low float
- AFMD 2 could be acting as support for a bounce which happens to coincide with the 200 day small float Potential day trade or higher risk swing
- TRXC potential red to green day trade opp see if we get some follow through
- NIHD nice setup on the daily looking for a break over 2 just a day trade opp with maybe some lotto shares for a swing
- P watching for pull to support for a bounce thicker stock more of a swing or long term hold play
- PFIE LGCY ZN CNX WTI oil plays to keep an eye on after the inventory numbers
- NBY super tiny floater earnings beat lil gapper could set up intra day need volume to play it
- LUNA earnings decent looking daily looking for a break over 2.70 with volume potential 3 test and role day trade
- ZIXI flirting with the 100 day moving average looking for a potential red to green and break over 4.50 with volume Pr this morning
- TEUM contract announcement flirting with a 3 roll nice setup on the daily
March 21 2018 Pro Pre market Prep from Alpha Wolf Trading on Vimeo.
