The market is NOT liking these new inflation numbers.
From a trading perspective, I’ve found that it’s no good to fixate on these numbers. You can be an amateur economist if you like. But at the end of the day, the market will make its reaction clear.
The price action’s where it’s at — the charts will tell you the story.
With a somewhat shaky market and the traditionally slower summer season looming, I think it’s feeling like yet another defense day.
I’m focusing on learning. The latest book I’m reading is “A Complete Guide To Volume Price Analysis” by Anna Coulling. It came highly suggested … Feel free to read along with me!
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Here’s what I’m watching today…
My two main watches today are Regional Health Properties Inc (NYSEAMERICAN: RHE) and InnSuites Hospitality Trust (NYSEAMERICAN: IHT).
Yep — these are the worst and sketchiest stocks out there. They are the very definition of disgusting! But they’ve squeezed over and over again, and they’ve held up. So they remain on watch.
Second Sight Medical Products Inc (NASDAQ: EYES) is back! As of the premarket, I saw it as a potential dip and rip over $6.50. It’s yet another dubious stock, but it’s a former runner.
How about 3D Systems Corporation (NYSE: DDD) as a potential red-to-green? I love the sector. I’m a huge bull on 3D printing.
The stock is holding above support and had good earnings the other day. I like it as a slow-moving, relatively low-risk swing trade idea. But keep your expectations realistic. This stock probably won’t have explosive moves.
If there are children in the room, shield their eyes! The stock chart for Lucira Health Inc (NASDAQ: LHDX) is truly disturbing. The volume is awful. This is the definition of a dead cat bounce. I wouldn’t go anywhere near it unless it’s trading with insane volume into the afternoon.
Was Cerecor Inc. (NASDAQ: CERC) “good” yesterday, as a follower stated? Well, it had a tiny and very short-lived spike. Today it’s gapping down. If you’re an absolute ninja, maybe you took advantage of that 1.5-minute spike. I really don’t see potential here.
Kinerjapay Corp. (OTCPK: KPAY) was an OTC gapper yesterday. As of the premarket, it looked like it could gap. If so, congrats to all gappers, but there’s not much else to say.
Sure, Party City Holdco Inc. (NYSE: PRTY) is a breakout and earnings winner. It closed at 52s. Yes, it could be a potential red-to-green play...
I don’t hate this as a potential trade, but I’ll openly admit I don’t care about the sector. I’m a lot more interested in cool tech than balloons and party hats.
Cool company ... cool technology ... trending sector ... Plus, Roblox Corp (NYSE: RBLX) recently broke $80! As of the premarket, I liked it over $77 as a weak open red-to-green with a risk on VWAP.
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