Be Laser Focused

Good morning folks, 
Nice resilience in the markets yesterday with the little bounce we had. However, if there was one thing that didn't quite convince me the move will be sustained it was the volume. Let's see what today brings and whether or not we can get some follow through with convincing volume.

The IBB remains impressive and really looks like it wants that 300 dolla holla. The dollar rallied reclaiming a position back into the Bollinger bands and that may have helped oil rebound slightly managing to stay over that 40 dollars a barrel. We had an awful lot of earnings from companies in the energy space after the close yesterday and that could set the tone for the sector today. The direction of oil seems to be what is leading the market lately so lets see if the correlation continues. TSO reported earnings after the close and VLO had a nice spike yesterday we could see some follow through in the refiners today keep an eye on the space./

Gold Silver and miners had a slight pull but it looks like we are flashing some green premarket for the shiny metal. Watch the dollar if we get a continuation of yesterday's bounce that could put some pressure on the metals and miners.

The IWM and the SMH had nice bounces yesterday but the volume was light in comparison the the previous day. It was nice to see but we want to see some real conviction if we are to break out of the flag patterns that have been developing on the daily charts as we consolidate. Retail, transportation, and consumer discretionary also had impressive bounces while financials are holding up surprisingly well.  

This morning we have an interest rate cut out of the bank of England that the market had anticipated. However, there is some commentary expected from Carney that could unveil some additional stimulus. 

Earnings continue to come in hot and heavy and they remain a mixed bag there will always be individual stocks to play regardless of what the overall market may be doing. 




ETF's

 Volatility                                                               OIL                                      Biotech

UVXY XIV VXX TVIX                      UWTI DWTI GUSH DRIP USO       LABD IBB LABU  
VMIX VMAX      

 Gold                                SILVER         Dollar                                Financials

GLD NUGT JNUG           USLV             UUP                                 FAS XLF FAZ HYG JNK

Minerals and Miners                   Utilities           RETAIL                    Transportation              

XME GDX GDXJ                      XLU             XRT                         IYT  XTN

DUST JDST  

Agriculture                                  SPY     

DBA, DAG                           SPXS SPXL

STOCKS ON MY RADAR PREMARKET 

*PR = Press Release

SQ earnings beat and gap flirting with a 12 roll premarket big short interest small float

ERII gapper off earnings could get  jiggy over the 11 dolla holla

TROX decent looking daily earnings after the close yesterday

CVGI earnings looking for a trendline break on the daily

EXEL earnings >sexy daily chart just keeps grinding higher 

GFF potential bounce off price support announced a 50 mil buyback after the close

TRIL super tiny floater flirting with a 10 roll 

ALIM getting a little action premarket has been consolidating just below the 200 day

CARA flirting with a 6 roll sloppy flag on the daily worth watching though

MGM earnings beat flirting with a 24 roll more of a long term hold  

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I want to introduce you to Alpha Wolf Trading where the goal is simple. I want to compile a passionate group of traders and investors that want to make each other better at what we do every day. 

The video above shares with you the layout of the new site and the features for both free and Pro members. 

I have had hundreds of people contact me over these last several years with the desire to learn how to be better investors or traders. To be honest, most of those people have lacked the will and desire to put in the kind of work it takes to be successful. Most people are just looking for a way to get rich quick without doing a lot of work. Alpha Wolf Trading does not want those people. 

We want people that understand this isn't going to be a get rich quick scheme. This is for people that have a genuine desire to learn. That want to work at their craft striving to become better each and every day. You may find that short term trading isn't for you at all. That is perfectly okay! It doesn't mean you shouldn't invest. The membership is for anyone that wants to know how the stock market works and how they can make it work for themselves.

We had some issues with the new chat room yesterday but those bugs were to be expected when you are rolling out a new service. Hopefully we will have those issues resolved by the end of the week.