Hey guys hope you all doing good, and had a nice weekend. The week is starting today for me cause yesterday I was on a business trip so no trading, but I see it was memorial day so perfect didnt miss much :) :) In general seems to me like some volatility is dying out a bit. But we have yet to see with a lot of important stuff to be announced in the upcoming weeks. Friday was red and of course its a part of the game and its completely normal thing to have red days and who says he or she does not have them is a LIAR :). NTNX had a spike I got in at a nice avg with a starter but got really toppy and wicky to the upside and a huge crack of course followed up right after. Got stopped out after being up for a loss. BCRX just a miss on the read by me. BBY got me fooled after that opening candle ending up strong after the was I added 300 more shares and just god stopped out and basically a little in the red from being up O/N on it so it just plain and simple screwed me over. The only one that worked was DECK with a nice read on it but not to much profits cause I was maxed out with positions so no money to buy alot of shares only 150 sold 50 almost at top for nice profits. Still holding 100 and up decently, I think it can continue today. Lets have nice week.
STOCKS
DECK- Still have 100 shares. I think this can continue today and maybe test that long term resistance at 69. All the moving averages on the daily are curling up and in good bullish order so maybe we see a nice grind the next couple days and some buying momentum. 66.5 IMO is important and we could see a nice support level there of that mark. Would love to add some if the opportunity arouses. Ideally small wash to 66 and rebound for maybe a test of the 68$ which is the PT.
PTGX- very nice agreement with Jannsen, poping up big in PM, but not very liquid. So will wait to see if there is a nice spike in volume for some decent upward momentum. Looking for a wash to for a nice test of the 12$.
CCN- Gap up very nice one. Very decent support now lying at 14.5 which is where I would love to get long from. PT 16
ECONOMIC CALENDAR
- Personal Income and Outlays 8:30 AM ET
- S&P Corelogic Case-Shiller HPI 9:00 AM ET
- Consumer Confidence 10:00 AM ET
- State Street Investor Confidence Index 10:00 AM ET
- Dallas Fed Mfg Survey 10:30 AM ET
/CL as I said It could hold price and is on track for a overlapping big red candle on the daily which will signal further downward movement. Atm trending down really nicely and is still a short term short, now the only thing is where to base risk. For now 49.5 looking like the place to base risk.
Sorry for the short list I have a ton of obligations today and might not even trade, but thats my opinion for today. Good luck and trade safe.
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