Thursday, August 25, 2016

Let The Fight Begin

Good morning folks,
Yesterday we had a first sign of the bears trying to take control in quite awhile. It was funny listening to the talking heads on the financial networks some were already stating the market is done for the year and the correction is here. If we have another weak day in the markets we may start hearing about the end of days, armageddon, cats and dogs living together it could get really insane.

Granted we had a good pull back in a couple of indexes but it was one day folks. I just wrote yesterday how many technically great looking setups there are out there and even with the pullback yesterday there are still a lot of good looking setups. 

The IBB and healthcare got whacked from comments by Hillary, the White House, and multiple congressmen regarding Mylan and the Epipen debacle. Gold and silver were weak but not as weak as the miner ETF's specifically the triple leveraged ETF's. The dollar had a little bump but nothing significant and actually pulled back from some short term trendline resistance. Oil remained weak even with chatter that Iran could be looking to support boosting the price of oil.

Janet Yellens speech is tomorrow and we could glean some idea of what she may be thinking in terms of rate hikes this year but it could also be a non event. This issue with Mylan and the Epipen won't last forever and the politicians will find a new hot topic to focus on. I am not suggesting that the markets aren't ripe for a significant correction. We haven't had one in many years and eventually we are going to get one and its probably going to be a doozy. There are a lot of people talking about September and October typically being bad months for the market and that is very true statistically but it doesn't guarantee that will be the case this year. Only time will tell us what the markets are going to do and hopefully you will have a plan put together for either outcome Bull or Bear.

Today's Markets 
In Asia, Japan -0.3% to 16556. Hong Kong flat at 22827. China -0.4% to 9761. India-0.8% to 27836.
In Europe, at midday, London -0.3%. Paris -0.7%. Frankfurt -0.9%.
Futures at 6:20, Dow -0.2%. S&P -0.15%. Nasdaq -0.2%. Crude +0.2% to $46.88. Gold-0.2% to $1326.55.
Ten-year Treasury Yield -1 bps to 1.55%.
Today's Economic Calendar

*PR = Press Release

DSCI pr testing a 5 roll small floater 

MNTA potential follow through off TEVA patent ruling yesterday

NYMX could set up for parabolic short play Adam F is all over it this morning it could also squeeze for another day or two so be very careful if you decide to join the party

BLDP news after the close lacking specifics gapping over 2 can be a pop and flopper so do not chase it 

PBMD flirting with the 1 dolla holla off European patent news another one that tends to pop and flop 

AAOI pr new customer order nice looking daily small float book value almost 10 insider buys in the 10 range 24 percent short 


The stocks discussed in this week's Ticker Tv are listed below

Here is the link to the video

I am not posting this video to brag or boast and I will likely never do anything like this again. I wanted to show people what I and is on a mission to accomplish. I want to teach people how to become their own consistently profitable Alpha Wolf Traders. Be part of the pack but remain independent and self reliant! My P&L should have no influence on you. Just because I have these results doesn't mean you will. The size of your account, your risk tolerance, your ability to execute and your discipline to establish a clear trading plan all play a role in your ability to succeed. 

Week Of August 15th trade reviews with P&L from Alpha Wolf Trading on Vimeo.

August 19-26th Market Wrap and Sector watch from Alpha Wolf Trading on Vimeo.