Daily Newsletter 2:8:18

Good morning y’all

BW

Happy Thursday, and happy bounce on the market… The market did what CNBC forecasted it might do, and thats one of the primary reasoning I enjoy reading it every morning and have it posted on my daily newsletter. We were excepting the market to continue to stay in red, even though we had a nice and healthy bounce of the recent drop of the DOW. We were down to the 23k and now we closed at the highs of 24k, which is about a 2.5% bounce.

Keep in mind that we do have a possible and likely government shutdown again which is set on March, 5 2018. That might get people to panic or cause another selloff which could lead to low vol. Have a plan in every trade, follow through, and continue to be patient are my 3 pointers I have on a daily bases. The 2nd point to keep in mind is that large cap stocks are the one ones making moves, the low float, small caps are not doing much. Something to just keep in mind.

Today is Thursday, which can still bring in some action into the market and wait for a nice press release, or a great chart pattern that may offer low risk and high reward type of trade. I have three in mind, so check them out and if you agree or see what I have stated, its worth your time to keep your eyes on them.

Here is iTwitsTrade Watchlist:

 

NEWS:

$NXTD ( a new contactless payment device that will enable cryptocurrency holders to use the value of their currency to make purchases at millions of retail locations.)

$MARA (Today announced that the Company has purchased 1,400 of Bitmain’s Antminer S9 miners (“Antminer S9s”).

$LBIX (announces that it has entered into a Support Agreement with Liquid Media Group , Inc’s (“Liquid”) subsidiary, Majesco Entertainment Company (“Majesco”), whereby the Company will invest in the exploitation of Majesco’s gaming properties in Asia.)

Chart Patterns:

$ICON +15% strong into the close holding its gains. Next area of resist @1.45 50 SMA strong resist, above that area, could b a nice run up. On watch.

$BLCM +10% nice breakout on daily. Bio w/ 28M in float. On watch for continuation to fill gap up to 7.6, I’ve set an alert if it can get back above its previous day’s high of 6.45 w/ vol.

$GNCA +5% w/ 19m in float, it has such a nice, bullish, and healthy looking chart on daily. The 50 SMA @1.06 and break of 1.09 w/ strong vol, could get this stock running long. On watch: bottom play.

Market Briefing By CNBC:

U.S. stock futures were sharply lower this morning, but action so far has lacked the wide swings seen over the past week. Momentum is decidedly negative, however, with the Dow having lost all of a 381-point gain at session high yesterday and finishing lower. (CNBC)

Today’s Hot Press Releases Scanner:

Today’s Morning PM Gappers:

Wednesday’s Top Gainers & Losers by FinViz:

 

Wednesday’s Market over all view:

 

Please Note:
I do not know how quickly or slowly upside may or may not be realized, therefore please assess the trade situation for yourself.
Equities can be extremely volatile, so if you aren’t able to secure your desired entry and the stock starts moving without you then you can always wait.
Pullbacks/consolidations often present the best risk adjusted opportunities to experience gains because you can get in right above support and cut losses quickly in case the trend fails. Establish a stop loss that is appropriate for you.
As I say, I would always make limited orders and never market orders, Since every traders/investors circumstance is different, make sure you create a personalized approach that works for you and always consult a financial adviser (not me).
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