896 companies will report next week, including large caps Apple, AT&T, Visa, Amazon, McDonalds, UPS, Boeing and Facebook. It will be another heavy week for the Banking sector with 136 banks reporting, followed by the Medical sector with 73 reports, Energy 51, Real Estate and Semiconductors 42 each, and Retail with 40. So strap yourself in if you’re really long and keep an eye out for your companies.
The S&P 500 edged higher last week with a 0.7% gain, while the Nasdaq fell -0.3%. The Russell 2000 continued to lead the major broad based indexes with a 1.7% gain, and over the trailing 5 weeks has gained 7%, a result 75% better than the S&P’s 4% gain.
Shinzo Abe’s party won the election over the weekend in Japan and although this was expected, look for dollar/yen to move higher. The Nikkei could play higher too, to as an initial reaction.
I’m putting crude on my radar as a potential short. The percentage of speculators (dimb money) is at highs and the commercial players (smart money) aren’t around.. The last time this happened, crude collapsed hard and fast. The chart does look s like it could get higher first but I’m watching it.. My play will be long SCO, but not yet.
I looked at many charts this weekend and many are extended or have earnings this week so I don’t want to get in front of that. I found two that I will probably play this week though. Good luck and I’ll see you on the chat room in the morning.
TTHI had a breakaway gap on Thursday. The company got fast track approval from the FDA for an investigational new drug (IND) that treats Alzheimers. The stock put in an inside day on Friday as it consolidated. The volume was off the chart and traded more volume than it ever has. The stock may need to go sideways for a bit, but usually these types of high volume moves are followed by more upside. I would buy in the 4.00 to 4.30 range with a stop around 3.70.
CRM looks like it may be ready to breakout and earnings aren’t until August. The stock has been building a new base since it fell apart back in late May. Buy the 43.10 level.