Daily Newsletter 2:27:18

Good morning Ya’ll..

Yesterday was a very nice day in the market as an overall view. The entire market DOW, NASDAQ, and SP 500 closed in green leaving so many stocks bounce back to their level few weeks ago as they dipped making investors nervous. Its awesome to see this type of action and for an average retail day trader which what I define myself as, its always good to see volume make a comeback in stocks.

Today it seem like another bullish day, as the futures are all pointing to the upside as of 6 a.m. E..T.

Yesterday I took a loss $220 trading $NXTD the stock made such a great move in Pre-market, which gave me hope this will have a good bounce during intraday trading. It fall as low as 2.85 and was pushing into making a U shape pattern. One of my favorite Go-To trading patterns in a stock that had amazing volume, with creditable news. I bought 2500 @3.06 looking for the break of 3.11 and run, but it fall and I bought again to average my position @2.97 so now am in @3.01 avg with 5k shares, as soon it touched that resist 3.08 it fall again to 2.90 and stopped out at 2.97. Can’t risk holding when a trade does not go the way I had it planned. Yes, 10 mins after my closing position, it ran to 3.25 or so, but it could of also fall back to 2.80 leaving me in the loss of $560. So the risk of trying to make 400 and risking 600 was just not worth it.

Today is a new and fresh day in the stock market with opportunities to make my loss and new gains. This week is the last week of February, and many traders will be charged, excited, and looking forward to increasing their profits and close the month in Green.

Look out for fresh press releases, volume, and breakout of previous resistants is my game plan today.

Here is iTwitsTrades Watchlist:

NEWS:

  • $TEUM (Pareteum’s Partner Airfox Launches Mobile App in Brazil)
  • $TTPH (Tetraphase Pharmaceuticals Announces FDA Acceptance for Filing of its NDA Submission for Eravacycline for the Treatment of Complicated Intra-Abdominal Infections (cIAI)
  • $ALDX (Aldeyra Therapeutics Announces Agreement with Johnson & Johnson Innovation to Advance Novel Immune-Modulating Drugs for Systemic Inflammatory Diseases)

Chart Patterns:

  • $KBSF just under a 1m in float, with a great looking chart patter setup inside a possible squeeze in coming days. Break of its prime @6 resist is key. Am currently holding a small position long @5.67 and possible add if it drops to support area of 5.25
  • $LMFA Another low float and well known formal runner with great past chart history spiker. Looking for the break of @1.6 to run and test its next resist 200 SMA @2.55

Today’s Market Briefing:

Futures were lower this morning, but whether that continues may depend on what Fed Chairman Jerome Powell says before Congress today. The Dow and S&P 500 have recovered about 85 percent of their losses from the earlier sell-off, while the Nasdaq erased its deficit. (CNBC)

Fed Chair Powell begins his testimony before the House Financial Services Committee at 10 a.m. ET, but the text of his remarks will be released at 8:30 a.m. ET. That comes at the same time as a key economic report — durable goods orders for January.

At 9 a.m., the S&P/Case-Shiller report on December home prices is out, and is expected to show a 6.3 percent jump from a year earlier. At 10 a.m., the Conference Board is out with its February Consumer Confidence Index. (CNBC)

Today’s Pre-Market Gappers:

Today’s Pre-Market News Scan:

Yesterday’s Overall Market:

Yesterday’s Top Gainer and Loser:

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