Good morning
We are looking at a gap up day as the republicans seem confident that a health care bill has enough votes to pass which could then lead to the tax bill being on deck which is what wall street really wants. Keep an eye on the dollar after the Fed meeting yesterday we saw an up-tick in dollar strength. Even though they did not raise the rate they believe that the fundamentals of the economy "remain solid" which means they could still be on track to continue the pace of the rate hikes this year adding to dollar strength and that could put continued pressure on gold and the miners. Gold is gapping down this morning JDST DUST will likely gap up, do not chase but there could be some intraday opportunities there.
Gap up days can be challenging so be careful. We have the jobs number out tomorrow morning and the French election this weekend and those could both be market moving events.
Have a plan for every trade know your risk reward and do not chase!
Best of success trading
Stocks on the radar and in the video
1. SQ earnings beat testing all time highs could be a swing or a day trade
2. TIG recent IPO press release this morning small floater 9.6 million shares potential day trade scalp opp if there is enough volume and liquidity
3. JBL really like the daily on this one probably more of a swing or even a long term hold consideration an entry close to 28 would be ideal off the 50 SMA
4. FIT potential day trade off of better than expected earnings lil gapper in premarket do not chase ... for me its a day trade and maybe a swing of some lottos once you lock some profit
5. WTI earnings bounce testing a 2 roll tied to oil could be swing insider buying in this area Full disclosure I have already started a position in my long term hold account and may add
6. BZH more of a long term hold or swing play reported earnings right at the 200 day for support
7. HIIQ gapper off earnings small floater do not chase look for intraday setup could be a potential day trade or swing flirting with all time highs
8. TTMI earnings worth watching for potential swing sitting on top of 50 EMA and trendline earnings came in at the high end of guidance and they guided in line 15.30 or so could be an ideal entry on
9. CNAT gapper off pr could be a day trade scalp opp like the daily look for intraday setup> good PR
10. CHK earnings more of a swing or long term hold play boatload of indider buying in this 6 area look for potential 5.50 entry
11. BPMX potential scalp opp day trade off trial results they hit primary but missed secondary end point day trade only
12. FIVN earnings beat gapper really like the daily blue sky above gappin look for a pull to support potential day trade or swing
13. FORM earnings sitting on top of the 200 day flirting with a 12 roll potential day trade only 50 million share sin the float
14. SCON low float gapper off insider buys earnings next week and they will likely need to raise cash soon day trade only for me with maybe just a small lotto position after locking some profit
May 4th 2017 Pro Premarket Prep from Alpha Wolf Trading on Vimeo.
