We finished out the week with a solid close on Friday after the release of the guidelines the new Fed chair will be sharing with the semi annual state of the economy report in front of congress. This could wind up being a market moving event depending on how the new Fed chair presents and how transparent he appears. We also have several economic data reports that could impact the markets as you can see below.
Earnings season is winding down with another batch of companies reporting from the retail and consumer discretionary sectors making up the bulk of the most anticipated earnings.
Technically we had a consolidation week last week below some key moving averages and trend lines in some sectors/indexes. On Friday, a few sectors like transports, SP500 and NASDAQ closed above these resistance levels.
While I have been in the camp that we could see a retest of the recent lows after Fridays action I am beginning to think we may not get that until after we retest the recent highs. It will be interesting to see if we get some follow through of Fridays action to take us through next week or if we have wind up pulling back off of the new Fed chair or some other economic data like GDP which comes out on Wednesday morning.
Either way it should be a very interesting week ahead.
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3 stocks to watch from this weeks Pro member video
This weeks list of stocks to watch for Pro members has 18 potential day trade / swing trade/ or investing opportunities. Become a Alpha Wolf Pro member and get the full list along with my sentiment on specific markets and sectors. I will be posting the video for pro members tomorrow morning.
Big pop off of PR selling assets but very thin stock not a lot of liquidity could be a day trade opp with volume on a pull to 3.60 to 3.50 area as potential bounce support do not chase. Looking for a red to green type move with volume
Nice upward channel low volume pull back after failed break out over 8 could find support for a bounce in the 6.80 (20day sma) or 7 dollar round number area. Small float 18 percent short interest Day trade opp
Has earnings Tues after the close already had a huge run but this is a small floater that still has almost 30 percent short interest. consolidating over 70 round number support if they beat and raise this could be a squeezer. Looking for a day trade opp either ahead of earnings or after earnings but I would not hold it through earnings.
If you have had this as an investment taking some off ahead of earnings would not be a terrible idea. 87 is all time highs for the stock
58-60 area could be a support area on a pull back for a bounce if you are looking at a potential swing or long term hold entry off a good earnings report and guidance but the stock sells off because it ran into the number
Highly anticipated Earnings for the Week Ahead
Source: Earnings Whispers
Economic data events for the week ahead
Source Bloomberg
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Events for stocks to watch
Morgan Stanley Technology, Media & Telecom Conference:
The absolute powerhouse schedule of presenters from Feb. 26 to March 1 includes Microsoft's (NASDAQ:MSFT) Satya Nadella, Facebook's (NASDAQ:FB) Sheryl Sandberg and Disney's (NYSE:DIS) Bob Iger. Also making their way to San Franciso for the event are PayPal (NASDAQ:PYPL), AMD (NASDAQ:AMD), Cisco (NASDAQ:CSCO), CBS (NYSE:CBS), Viacom (NYSE:VIA), Netflix (NASDAQ:NFLX), MuleSoft (NYSE:MULE), Sailpoint Technologies (NYSE:SAIL), Cognizant (NASDAQ:CTSH), Dolby Laboratories (NYSE:DLB), Comcast (NASDAQ:CMCSA), Zynga (NASDAQ:ZNGA), Yext (NYSE:YEXT), Charter (NASDAQ:CHTR), FireEye (NASDAQ:FEYE), Akamai Technologies (NASDAQ:AKAM), TripAdvisor (NASDAQ:TRIP), IBM (NYSE:IBM), TrueCar (NASDAQ:TRUE), Criteo (NASDAQ:CRTO), Coupa Software (NASDAQ:COUP), Acxiom (NASDAQ:ACXM), Calix (NYSE:CALX), NCR(NYSE:NCR), AT&T (NYSE:T), Blue Apron (NYSE:APRN), T-Mobile (NASDAQ:TMUS), Nvidia (NASDAQ:NVDA), Liberty Global (NASDAQ:LBTYA), Impinj (NASDAQ:PI), Intuit (NASDAQ:INTU), Cray (NASDAQ:CRAY), TriNet (NYSE:TNET), MicroStrategy (NASDAQ:MSTR), CenturyLink (NYSE:CTL) and Micron Technology (NASDAQ:MU).
Wells Fargo Real Estate Securities Conference:
Speakers at the commercial real estate affair in New York City on Feb. 28 include CBL & Associates (NYSE:CBL), CyrusOne (NASDAQ:CONE), CubeSmart (NYSE:CUBE), Cousins Properties (NYSE:CUZ), Healthcare Realty (NYSE:HR), JELD-WEN (NYSE:JELD), National Storage Affiliates (NYSE:NSA), Corporate Office Properties (NYSE:OFC), Sabra Healthcare REIT (NASDAQ:SBRA), Tanger Factory Outlet (NYSE:SKT) and Tier Reit (NASDAQ:TIER).
Macau:
Eyes were opened wide this week after a hike in transit visa fees in Zhuhai from RMB50 ($7.88) to RMB340 ($53.55). While the total cost is still relatively low, any indications of a Beijing crackdown tend to rattle investors. The Gaming Inspection and Coordination Bureau is due to release February revenue numbers at the end of the week. Forecasts for the month are wide-ranging, due in part to the Chinese New Year holiday from Feb. 15-21. JPMorgan expects 8% to 10% growth, while Nomura sees a 10% to 15% pop. Bernstein is more conservative with a single-digit revenue growth forecast for the month. The major players to watch are Wynn Macau (OTCPK:WYNMF, OTCPK:WYNMY, WYNN), Sands China (OTCPK:SCHYY, OTCPK:SCHYF, LVS), MGM China (OTCPK:MCHVF, OTCPK:MCHVY, MGM), Galaxy Entertainment (OTCPK:GXYEF), SJM Holdings (OTCPK:SJMHF, OTCPK:SJMHY) and Melco Resorts & Entertainment (NASDAQ:MLCO).
Analyst/investor day meetings:
CoreCivic (NYSE:CXW) on Feb. 26; JPMorgan (NYSE:JPM) and Laboratory Corp of America (NYSE:LH) on Feb. 27; Heat Biologics (NASDAQ:HTBX), Moody's (NYSE:MCO) and Recro Pharma (NASDAQ:REPH) on Feb. 28, iRobot (NASDAQ:IRBT) on March 1.
Non-deal roadshow meetings for marketing purposes:
Ansys (NASDAQ:ANSS) and Belden (NYSE:BDC) on Feb. 26, Twitter (NYSE:TWTR) on Feb. 27; Trade Desk (NASDAQ:TTD) on Feb. 28; Zynga (ZNGA) and ON Semiconductor (NASDAQ:ON) on March 2.
Barron's mentions:
Energy stocks and the potential for higher crude oil prices are the subject of the cover story. The roundtable of panelists mentions Genesis Energy (NYSE:GEL), Anadarko Petroleum (NYSE:APC), Concho Resources (NYSE:CXO), Targa Resources (NYSE:TRGP), Shell Midstream Parners (NYSE:SHLX), Halliburton (NYSE:HAL), Pioneer Natural Resources (NYSE:PXD), EOG Resources (NYSE:NBL) and Noble Energy (NBL) as attractive plays. The spotlight also falls on China, with Ping An Insurance (OTCPK:PIAIF) and Haier Electronics (OTCPK:HRELF) called out as intriguing."
Source: Seeking Alpha
