Initial Claims | Stocks to Trade | May 7 2015

Here is some news for initial claims before the day unfolds:

What to look for in today’s initial claims number.

Initial jobless claims at 8:30 a.m. ET are expected to come in at 280,000, up from the previous week’s surprisingly low 262,000 reading. Natural-gas inventories are due two hours later.

Companies reporting earnings in the pre-market include Apache, Regeneron, Priceline.com, Molson Coors, Melco Crown, Canadian Solar, and Orbitz. CBS, Nvidia, and Nuance Communications are scheduled for after the closing bell

Stocks to Trade | Thursday May 7, 2015

Pete’s Notes:

  • SPY hit the weekly trend line support and found some buyers into the close.
  • If we retest yesterday’s low I would look to be a buyer at that level.
  • Running scans for ATR and a lot more stocks below the 20sma than above.

Interesting Chart Lessons:

  • TWTR sniffed the $36 support we have discussed he past few days. Not a sell short into this level.
  • Quite a few retail stocks had clean technical sell-shorts yesterday but traded higher. I still like the short. (KSS, TGT, LOW, HD,
  • VLO has a clean head and shoulders top-one to print out for your trading plan.

VLO Head and Shoulders Top

initial claims

Click for a podcast of the May 5 meeting…

Subscriber Ideas:

Inside days/Breakouts:

Longs:

Shorts:

Earnings in play today > 1M avg shares: BABA, MT, NVDA, APA, SLW, CBS, MCHP, MWW, TDC, TSO, CROX

Bullish Ideas Volume Price ATR: HOT, RAI, DIS, ALTR CRM (id)

Bearish Ideas Volume Price ATR: YELP, AKRX, RCL, WYNN, FSLR, TRIP, BA, TRV<101, VLO, SNDK, WDC<94

Weak Stock Weak Close: BBD, FSLR, HPQ

Strong Stock Weak Close: -BX, MSFT

Weak Stock Strong Close:

Strong Stock Strong Close: CVC, RAI, SCTY

20 day Breakdown: – ALL, BIDU, MGM, S, TRIP

20 Day Breakout: – CVC, HLF, RDC

2x Normal Volume:

Core Watch List Longs: JPM, BK, SWN, AKAM, ALTR, JNPR

Core Watch List Short: BBY, KSS, ALL, HD, COST, TGT, CVS, UNH, WMT, AXP, CVX, HPQ, KLAC, LEN, TXN

Inside days:

Game Plan Review | End of Day 5.7.15

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