US GDP Data | Trading Game Plan June 24

Plenty of stocks in play today along with some economic data…

US GDP data is the final revision for the first quarter, a positive revision could see the dollar take a a hit.

Earnings today include Monsanto Co. MON, Lennar Corp. LEN, and Bed Bath & Beyond, BBBY.

Netflix, NFLX, announced a seven for one stock split and is trading higher pre market.

Shares of Netflix Inc. (NASDAQ:NFLX) rallied more than 2 percent Tuesday in extended-hours trading after the video-streaming service announced it has approved a seven-for-one stock split. Netflix, which has a market value of $41 billion, is currently the best performer this year in the Nasdaq 100, an index that tracks the largest non-financial Nasdaq companies. The stock has soared 100 percent since January.

Netflix stock touched an all-time high of $692.79 on June 10.

The stock split will come in the form of a dividend of six additional shares for each outstanding share. The dividend is payable on July 14, with trading at the post-split price on July 15, the company said in a statement. Any shares purchased between the July 2 record date and the July 14 payment date will come with a “due-bill” entitling the buyer to six additional shares for each share purchased.

The movie streaming service topped 62 million subscribers globally during the January-March quarter, as original shows such as “House of Cards” drew new viewers worldwide. A year ago, the service had 48 million subscribers. The company attributes recent strong U.S. growth to its original content, including the launch of the third season of “House of Cards” and new shows “Unbreakable Kimmy Schmidt” and “Bloodline.”

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US GDP Data in Focus

Dollar broadly lower vs. rivals ahead of U.S. GDP data – The dollar was broadly lower against a basket of other major currencies on Wednesday, as sentiment on the greenback weakened ahead of a highly anticipated final report on first quarter U.S. growth.

The dollar had found support after the U.S. Commerce Department reported on Tuesday that new home sales jumped by 2.2% to 546,000 units last month, hitting the highest level since February 2008.

Investors were eyeing an upcoming report on first-quarter U.S. growth due later Wednesday for further indications on the timing of a rate hike by the Federal Reserve.

The safe-haven greenback also strengthened after euro zone finance ministers failed to reach agreement over Greece’s bailout at an emergency meeting on Monday.

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June 24 Stock Market Today: Map of the S&P 500

Day Trading Game Plan: The SPY

us gdp data

SPY daily chart continues to show indecision. Another close near the open.

us gdp data

Stocks to Trade |Wednesday June 24, 2015

Pete’s Notes:

  • Greek news is starting to bore me. Get it over with. This is going on for 3 years.
  • Nice breakout in ADBE
  • WMT showing signs of accumulation

Interesting Chart Lessons:

FB | Facebook exploded the last two days for excellent intra day trend trading. The next trade is to wait for a consolidation.

us gdp data

Earnings in play today > 1M avg shares: BBBY, LEN, MON


Bearish Ideas ATR/Volume/Price: rrc, baba, gmcr, mon, wynn, apc

Weak Stock Weak Close: adt, aep, cpn, kors, yndx, baba, stx, twtr, dd

Strong Stock Weak Close: CYBR, SWKS, JBLU,

Weak Stock Strong Close:

Strong Stock Strong Close: LULU, CAG, CTXS, NFLX, FB, TASR, TSLA, ADBE, AMZN, UNH,

20 day Breakdown: adt, bbbry, stx, yndx

20 Day Breakout: ADBE, BAX, DTV, FB, LULU, T

2x Normal Volume: AMBA, ADT, DTV, WEN, FB, T, ADBE

Watch List Longs: AET, MET, PRU, TGT, MS, SBUX, COF, JPM, PNC,  DIS, UNH, BK, GE, DOW, C, ADBE, M, T,

Watch List Short: swn, cvx, wmt, mo, cop, hal, all, hpq, wynn, orcl, dd, klac, qcom,

Inside days: amba, dow, mrk, gm, gpro, ma, bby, pep, ip, hd, nke, hig, ctrx, all, qihu, oke, de, sina

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