Weekly Jobless Claims | Shak in Play | Trading Game Plan | May 14

Jobless claims, PPI and Shake Shak in Play today…

U.S. stock futures pointed to an upbeat trading day on Wall Street Thursday, ahead of economic data that could further weaken the case for an imminent Federal Reserve rate hike.

Futures for the Dow Jones Industrial Average YMM5, +0.39%  climbed 72 points, or 0.4%, to 18,087, while those for the S&P 500 index ESM5, +0.42%  added 8.75 points, or 0.4%, to 2,103.50. Futures for the Nasdag 100 index NQM5, +0.52%  gained 22.25 points, or 0.5%, to 4,446.

Weekly jobless claims and PPI in focus today. It’s a stock pickers market for day traders. Continue to be patient. Swing traders should be looking sector specific and look for the leaders.

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Shak Attak:

Shake Shak

Driven by strong same-store sales growth, Shake Shack surprised Wall Street with a first-quarter profit, while Jack in the Box also topped views. Shake Shack (SHAK) reported 4 cents in adjusted pro-forma earnings per share, double last year’s profit and far above analyst estimates for a per-share loss of 3 cents.

Revenue grew 56% vs. a year earlier to $37.8 million, above consensus estimates for $33.9 million. That’s the third straight quarter of accelerating growth

Stocks to Trade | Thursday May 14, 2015

Pete’s Notes:

  • SPY trading range is 205-212-no bias from the market until this is resolved.
  • This means stock specific and industry specific scenarios.
  • Industrial goods showing relative strength.
  • Your trading plan is always important, but especially in a tough tape. If day trade ideas are hard to find, stay patient.


Interesting Chart Lessons:

  • WFC nice ascending wedge, 56 is the breakout level

jobless claims

Earnings in play today > 1M avg shares: AMAT, KING, KSS, SYMC, AKRX, JWN, LOCO, SINA, KITE, WLT,

Bullish Ideas Volume Price ATR: TASR, NFLX, TSLA, YUM, SCTY>62, RRC>65, GILD>107, GS, AET

Bearish Ideas Volume Price ATR: WYNN, BIDU, ENDP, APA, UA, APC, NOV, OXY, DD, AMT, WDC (pennant)

Weak Stock Weak Close: APA, APC, EOG, HES, HTZ, UNP

Strong Stock Weak Close: JBLU

Weak Stock Strong Close: AKRX (earnings today)

Strong Stock Strong Close: CBI, FEYE, OPK, WMB

20 day Breakdown: CMCSA, DD, HTZ, M, UNP

20 Day Breakout: GLD, GT, HON, IDTI, KEY, OPK, RIG, SLV, WMB

2x Normal Volume: AES, DD, DHR, WMB, M, Z, SUNE, SLV, OPK, GT, GLD

Core Watch List Longs: SWN, PRU, BK, JPM, AET, HON, NEM, JNPR, BRCM, INTU

Core Watch List Short: ALL, TRV, COST, WMT, SUN, WYNN, M, GLW, DD, KLAC (pennant)

Inside days:

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