“Good investing is a peculiar balance between the conviction to follow your ideas and the flexibility to recognize when you have made a mistake.“ –Michael Steinhardt
Good morning
We are looking at a lower open as the markets are digesting the Fed rate hike and comments from new Fed Chair Powell. Fears of a trade war being kicked off with todays announcement of of as much 60 billion in China tariffs @ 12:30 ET today could also be weighing on equities. In other news, the government avoided another shutdown by putting together a tiny 1.3 TRILLION dollar spending bill that will keep it running through October.
With oil hitting a new 7 week high I really like the setup of a lot of the small oil names and think it is a space we want to keep a close eye on. LGCY WTI ZN REN HK TRCH TELL SWN SGY AXAS are just a few names on my radar.
If the markets sell off we need to have UVXY TVIX LABD TZA on out radar. Keep an eye on gold and the dollar too. Markets just took a turn for the worse and are now gapping down fairly significantly. We could be on our way to testing those Feb lows.
Thursday's economic calendar (03/22/2018)
8:30 Initial Jobless Claims
9:00 FHFA House Price Index
9:45 Bloomberg Consumer Comfort Index
9:45 PMI Composite Flash
10:00 Leading Indicators
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
1.TEUM potential day trade opp red to green play continuation off yesterdays move
2. OMER benefiting from the spending bill gapping up premarket hit 19 now pulling back to 16 potential support small floater potential red to green
3. MITL sold off German division potential 10 test and roll
4. P upgrade after new ad company acquisition more of a swing or long term hold close to 5 could be ideal entry
5. TELL new injection of 50 mill investment in the name gapping could be a red to green play looking for a potential 8 test
6. TDOC great looking daily chart testing all time highs more of a swing or long term hold play small float big short interest
7. SNCR renewed 5 year contract wit VZ gapper do not chase at 200 day resistance tends to pop and flop
8. CCIH rumors floating around small floater lots of eyes on it could get a red to green > high risk day trade only do not chase
March 22 2018 Pro Pre Market Prep from Alpha Wolf Trading on Vimeo.
