Thursday, August 4, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are relatively flat this morning while European stocks are trading higher after the Bank of England (BOE) slashed the lending rate by to .25% and increased the Quantitative Easing measures (QE). Asian stocks closed mostly higher led by Japan’s NIkkei bouncing back from multi week lows.
Technicals
The SPY traded on an inside day on low relative volume which made for slow, choppy markets in yesterday’s session. Support will lie at the low of yesterday’s range at $215.13, followed by the low of Tuesday at $214.57, then $214.35 and $213.43. Resistance will lie at the high of yesterday’s range at $216.25, followed closely by $216.83, the recent pivot at $217.30, and finally all time highs at $217.65.
Small Cap Watch List
*Please refer to the momentum scanners displayed live in the chat room for potential plays at the market open.
**Others On Watch**
$K
$SQ
$FSLR
Economic Calendar
8:30 Weekly initial unemployment claims expected -1,000 to 265,000
8:30 USDA weekly Export Sales
10:00 June factory orders expected -1.9% and -0.2% ex trans
Notable Earnings Before Open
AMRN: Amarin – EPS Est. $(.13), Rev Est. $29.3M
ARRY: Array Biopharma – EPS Est. $(.15), Rev Est. $38.71M
CHK: Chesapeake Energy – EPS Est. $(.09), Rev Est. $970.27M
GOGO: GoGo – EPS Est. $(.42), Rev Est. $140.55M
REGN: Regeneron – EPS Est. $2.52, Rev Est. $1.25B
SEAS: Seaworld – EPS Est. $.23, Rev Est. $371.83M
SSYS: Stratasys – EPS Est. $.06, Rev Est. $176.71M
TASR: Taser – EPS Est. $.03, Rev Est. $53.26M
TEVA: Teva – EPS Est. $1.18, Rev Est. $4.84B
Notable Earnings After Close
ACAD: Acadia Pharma – EPS Est. $(.48), Rev Est. $.04M
ATVI: Activision – EPS Est. $.41, Rev Est. $1.5B
FEYE: FireEye – EPS Est. $(.39), Rev Est. $181.30M
JUNO: Juno Therapeutics – EPS Est. $(.51), Rev Est. $19.62M
TTWO: Take Two Interactive – EPS Est. $(.49), Rev Est. $259.42M
OLED: Universal Display – EPS Est. $.51, Rev Est. $69.5M
August 4th Swing Watch List
$ENDP – With earnings coming up, news coming out and testing the 50EMA at the mouth of a big gap, this is a sweet long setup (credit to Mike here!) Long entry is over 18.63, stop 18.00. Aggressive target is 25!
$FOLD – A previous winner for us with earnings coming up, I like the potential over 6.81. Long entry over 6.81, add spot over 7.00. Target is 7.50-7.75.
