"What you have to learn is to fold early when the odds are against you or if you have a big edge, back it heavily because you don’t get a big edge often. Opportunity comes, but it doesn’t come often, so seize it when it does come" Charlie Munger
Happy Sunday
I hope you are having a wonderful weekend.
We have another big week ahead for IPO's. Recent IPO names have been on fire and some of them are pulling back to potential support after their recent meteoric rise. There could be some bounce plays in name s like IQ HUYA BILI and SOGO next week. There will also be plenty of new IPO's to keep an eye on. "IPOs expected to price: Neon Therapeutics (NTGN), Uxin (UXIN) and Hyrecar (HYRE) on June 26; BJ's Wholesale Club (BJ), Everquote (EVER), Brightview Holdings (BV), Tricida (TCDA), Neuronetics (STIM), Forty Seven (FTSV), Goodbulk (GBLK) and Translate Bio (TBIO) on June 27; Domo (DOMO) on June 28."
Source Seeking Alpha
Oil and energy the OPEC meeting has come and gone and the news from the event was more bullish for oil than bearish with a smaller than expected agreement on increased production. There are a ton of very good looking setups in the sector and we could see some breakouts in the space. Might need more time to consolidate
Transportation Rising oil prices could put pressure on this space the 50 day sma needs to hold as support or we could be looking at a 200 day test
Biotech had a nice move and now needs to consolidate there are still lots of good looking charts in the space and we have some stock in the space with potential catalysts this week. GPWH is one that I like quite a bit and there are a few others that I will be sharing in the pro video
Health care has been in consolidation mode and is riding the 20day there are some good looking setups in the beaten up space where we could see some bounce plays typically big thick stocks more swings or long term hold plays than day trades
Industrials have been under pressure with all the trade war talk and unless things miraculously do a 360 degree turnaround I would think we continue to see pressure in the space as more rhetoric hits the media
I have been pounding the table on this space for the last several weeks and I do not think we are done. Just this weekend it is announced that KHC and GIS (reports earnings this week) are interested in CPB takeover. I think the whole space is ripe fro M&A DF SMPL RIBT are just a few that have nice looking setups HAIN reports earnings this week and could present a another catalyst for the space I closed a trade in HAIN last week ahead of earnings
Even after stron MU earnings this space is having trouble trying to make new all time highs. if we lose the 50 day as support we could be heading back towards a 200 day sma test
Tech is in consolidation mode and could be the target of trade war retaliation watching for a test of the 50 day as potential support
Small caps have been on fire and could be looking to pull back and test the 50 sma and potential 160 price support
The recent strength in the dollar has played a roll in the strength of the small caps if wee see the dollar pulling back we may see the small caps follow. Large caps would benefit from a falling dollar
Solar Favorable IRS ruling is surprise gift for solar developers Developers can claim a 30% tax credit for solar projects as long as they prove they started construction by the end of 2019, and they have until the end of 2023 to complete the projects, the IRS says.
“The news is positive for utility scale solar developers who can now avoid solar tariffs imposed on imports through 2021, procure majority of their solar panels in later years, and still qualify for the higher tax credits," Credit Suisse says. The sector doe not look great but we could se a bounce in the sector and their are two very hot looking charts I will be sharing in the pro member video
Financial sitting on potential price support typically big thick stocks more swing or long term hold plays
Shippers several shippers have good looking setups and we are seeing some of the low floater names getting some price action>if you play these names play them size appropriate and do not chase
This weeks sample stocks from the Pro member Video
$GWPH $HAIR $TGA $PES $LXRX $TWTR
There has never been a better time to become a member of Alpha Wolf Trading
The annual membership to only $197.00 a year. That means, for just over 50 cents a day, you will have access to all my pre market prep and post market wrap videos with stocks to watch for trading and investing ideas, my trade plans for swing and long term investments, a live chat room, a live webinar during trading hours with screen share, 10 hours of educational videos and real time alerts when I execute my swings or long term hold plays. CLICK HERE TO TAKE ADVANTAGE OF THIS INCREDIBLE OFFER.
https://www.alphawolftrading.com/membership
NEXT WEEK'S MAJOR U.S. ECONOMIC REPORTS & FED SPEAKERS
TIME (ET) REPORT PERIOD ACTUAL FORECAST PREVIOUS
MONDAY, JUNE 25
8:30 am Chicago Fed national activity index May -- 0.34
10 am New home sales May 668,000 662,000
TUESDAY, JUNE 26
9 am Case-Shiller home price index April --
10 am Consumer confidence index June 127.8 128.0
WEDNESDAY, JUNE 27
8:30 am Durable goods orders May -1.4% -1.7%
8:30 am Core capex orders May -- 1.0%
8:30 am Advance trade in goods May -$69.4 bln -$68.2 bln
10 am Pending home sales May -- -1.3%
THURSDAY, JUNE 28
8:30 am Weekly jobless claims 6/16 220,000 218,000
8:30 am GDP revision Q1 2.3% 2.2%
FRIDAY, JUNE 29
8:30 am Personal income May 0.4% 0.3%
8:30 am Consumer spending May 0.5% 0.6%
8:30 am Core inflation May 0.2% 0.2%
9:45 am Chicago PMI June -- 62.7
10 am Consumer sentiment (final) June 99.0 99.3
Source Market Watch
*Highly anticipated earnings *
Source Earnings Whispers
