Monday, August 8, 2016
Economic Calendar & Watch Lists
Morning Notes
US Futures are pushing higher yet again this morning while European markets trade higher by over .50% all on follow through from a very positive US July payroll number on Friday. Asian stocks closed mostly higher.
Technicals
The SPY reclaimed the recent consolidation zone of the last 2 weeks and pushed through to the upside to new all time highs. Support will lie at the $217.30 pivot, followed by the low of Friday’s range at $217.07, then $216.78, $215.83, $215.13, and $214.57. Resistance will lie only at the high of Friday’s range at $218.23.
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**
$XON
Economic Calendar
NONE
Notable Earnings Before Open
AGN: Allergan – EPS Est. $3.28, Rev Est. $4.15B
DF: Dean Foods – EPS Est. $.39, Rev Est. $1.84B
HZNP: Horizon Pharma – EPS Est. $.53, Rev Est. $238.06M
BID: Sotheby’s – EPS Est. $1.05, Rev Est. $283.35M
TSN: Tyson Foods – EPS Est. $1.07, Rev Est. $9.23B
Notable Earnings After Close
ENDP: Endo Pharma – EPS Est. $.75, Rev Est. $N/A
HTZ: Hertz – EPS Est. $.47, Rev Est. $2.27B
KITE: Kite Pharma – EPS Est. $(1.28), Rev Est. $4.69M
LC: Lending Club – EPS Est. $(.05), Rev Est. $110.84M
MTW: Manitowoc – EPS Est. $.03, Rev Est. $467.9M
ONDK: OnDeck Lending – EPS Est. $(.31), Rev Est. $67.79M
RAX: Rackspace – EPS Est. $.23, Rev Est. $521.07M
SINA: Sina Corp – EPS Est. $.15, Rev Est. $230.44M
August 8th Swing Watch List
$NERV – A big range potential. Long entry is over 11.90, stop 11.40. Target is 13.20 and then 14.
$GLOG – A big resistance top about to pop. Long entry is over 14.20, stop 13.75. Target is 16
$IBB – A low IV speculative play. I am bullish if markets continue higher. Looking for a Sept16 300/305 bull call spread for a debit around 2.00-2.25. Target will be 30-50%
