Hey guys hope you had a good day. I just want to say that over the years and through days and months of experience I have learned that finding crucial levels that hold up or down a price, with looking for that every trader with discipline can make a profit. I want to give an example of HMNY yesterday that I was short ON and started the day with a wash than spike than wash  it lingered around and consolidated I said I would re-add if it got near the 4.50s but it never did, later in the day stuffed the 4$ mark again and thats where I knew my trade would be a nice one. I had a cover order at 3.55 and just after the spike the crack of the crucial 3.70 came and see what happened it finished almost a buck under FML. It would have been another almost 500$ but I am happy with my call and easy trade. Easy read- just as I always say the chart analysis is very important . MOMO got in at start according to plan with 1/3 size got the nice big spike and even with that size I had nice profits but after it just collapsed and I kept thinking it has the strength but the 40s couldnt hold and I got stopped out on -0.5 per share. INO got over extended in PM so it just faded off got stopped out on a starter also with just under 10 avg so what can you do, GLYC failed to test 15 but failed to crack Im still in short starter at around 14.68 looking for a crack today risking just over 15, might add under 13. Lets have a nice day today there is some nice plays setting up.

STOCKS

AERI- Very good phase3 results  so its gaping big and has decent volume. 52.50 decent AH and PM base so would love to see a wash to there and its perfectly aligning with the 50ema so would love to see a wash there for a long.  If it just continues up might try and jump in with partial size for the ride up. PT 57$

PBYI- FDA committee voted in favor of approval for their breast cancer drug, now this is a low float stock with a huge short float over 25% so this can still go. 75$ is the base where I would love to see a profit taking wash into and a test of the 80 again and thats out today's PT. 

BCRX- Reported good data for its drug also, all bios are going crazy these days. This can be a nice swing maybe for the next couple days. It has the tendency to run for couple days if it has a big green day so we will see. The 6.40 and 6$ very crucial resistance and support levels.  5.50 is the last place where I would look for a long or bounce so I have to be careful with entry on this guy. Ideally it washes to 6 and goes nuts. PT 7$

BBY- The big tech company surprised everyone with very nice earnings. It gaped to all time highs so another play that can be more of a swingy type play. It has a double top back in 2006 at around 57 so if it can hold over that level I would love to take it for a nice long and risk a buck on like 400 shares for a potential at-least 2-3 bucks of further upside maybe even more. PT 59$

ECONOMIC CALENDAR

• Bloomberg Consumer Comfort Index 9:45 AM ET
• Lael Brainard Speaks 10:00 AM ET
• EIA Natural Gas Report 10:30 AM ET
• Kansas City Fed Manufacturing Index 11:00 AM ET
• 4-Week Bill Announcement 11:00 AM ET
• 3-Month Bill Announcement 11:00 AM ET
• 6-Month Bill Announcement 11:00 AM ET
• 7-Yr Note Auction 1:00 PM ET
• Fed Balance Sheet 4:30 PM ET
• Money Supply 4:30 PM ET
• James Bullard Speaks 10:00 PM ET

/CL As I said yesterday looking kinda toppy at 52 and see what happened, I said in general short term I am bearish even with that type of hype the last couple days and even the inventories being nice see what happened.  52$ now resistance again and thats where I would short for a 30 cent risk and a potential 50$ test. Unless it does the same move form 18 of may where it tanked the London session than got bought back up straight as the US session opened,so If volume comes in and it gets going with momo for a rebound I would leave alone if it starts just chopping up slowly I would get in short around 52! 

Have a nice day guys and some stuff and news coming out today so the financial sectors might be rattly a bit. Take it easy and trade safe.