Hey guys hope you had a nice weekend. no trading friday as I was on a small trip to relax and take a nice deserved rest. As I can see there was not much crazyness in the markets so I didnt miss ot much. In general got stopped out on my AMD position sam as JILL. Still have some CIEN from last WL with an avg of 26.83 which is not bad. Up on the trade nicely. MNKD had a really nice read and small scalp of the wash in general was an easy read. SPI shorted into the confirmation of the stuff in the second spike attempt and a perfect little trade but covered way to soon which is always annoying but what can you do. I am happy with the overall week and now recharged and ready for the new week. 

STOCKS

HMNY - The crazy one at it again. Pumping PR's about some patent acqusitions that are aimed mostly to pump the stock price. I am not speculating anything or saying that the patents are not worth it, but this just hypes price. Would love to see a small failed spike into the 3.25-3.35 area to short scalp. If it picks up volume this can go but like most of the time this fakes out. So we go with the odds. Ideally small failed spike into resistance for a short . PT under 3$

CIEN- Looking for that 26.9 to hold or I sell my position for minimal gains. Basically would love to see a small wash to that area and a rebound test of the highs. at 27.7 where I would love to sell. 

LOXO- Very nice long term chart on this bio that had very positive results on a cancer drug. Gaped up big on it and now in uncharted territory and over all time highs. At 70$ atm up from around 50$ so its big. Now 65 looking like a base and 60 those are the two prices that I would love a wash to so I can get in for a spike. This may give some gains back but will def try and spike in the morning. Low float and just under 20% is short so it can squeeze also. I am bullish short term on the momentum and I will try take advantage. PT a hit of 74$ after it might pullback a bit.

DVAX- Big gap also very nice reports by Reuters which is big for any company. Short term I am thinking this gets going and spikes today. & nice support now and this may have a longer term move toward closing the gap from last november. Would love for a wash to 7s for a nice sweep maybe even for a swing trade . PT 8$

ECONOMIC CALENDAR

 

PMI Services Index 9:45 AM ET

Factory Orders 10:00 AM ET

ISM Non-Mfg Index 10:00 AM ET

Labor Market Conditions Index 10:00 AM ET

4-Week Bill Announcement 11:00 AM ET

3-Month Bill Auction 11:30 AM ET

6-Month Bill Auction 11:30 AM ET

TD Ameritrade IMX 12:30 PM ET

 

/CL even with those crazy numbers Crude managed to tank so I am bearish until some signs of strength show up. It spiked and stuffed straight into the 49 which held strong so it just came back to where it came from in a matter of hours. Again now its making lower highs and lower lows and its near mid term support at 47. The best short IMO would be  around 47.60 if the price provides that in some sort of spike for some unknown reason. Where you can risk about 30 cents for a potential short term 46 test which is at the moment great R/R for a trade. Very bearish short term and most likely will build a short in it. 

Good luck guys trade safe and have a great week.