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Thursday March 17th 2022 Morning Stock Newsletter

🌟Goooooooood morning Team and Happy St. Pattys Day🌟

WELCOME BACK to the WORLD’S BEST Trading Chatroom! I hope you all had a wonderful evening and that you are ready for today’s trading session. 

Yesterday was a wild day in the market. We saw the $SPY drop over 6 points after the conclusion of the FED meeting then saw it push back up aggressively to a new HOD. The initial move lower was due to the slight surprise the market received. We initially saw a potential rate hike range from .25-.50 and the market had been pricing in .25, so that was an initial surprise. Then the FED stated we would likely see 7 more rate hikes this year and the market had been pricing in 3-5. However, during Powell’s interview, he stated a recession is NOT likely as the market is strong and can still “flourish”. He also stated inflation is not a huge concern and that we would have more details on that when the minutes are released. The market took this very positively and is why we saw a strong rebound and end of day rally. 

I do believe we can see the markets continue higher (short term) possibly testing our 50SMA and 200SMA. However, I do not believe we have put in an official bottom and I still see more room to the downside. For now, we will play the market to the long side until we see an indication that we can start to roll back over and move lower.

Get 🔥 FIRED 🔥up team because we are hitting it hard today.


STOCKS WITH NEWS

This week is Triple Witching which can bring in more volume and volatility (On the third Friday of every third month, multiple derivatives products expire, giving rise to greater than normal trading volumes. It’s commonly called “triple witching” day) https://www.thebalance.com/triple-witching-1031135 

Earnings season is rapidly approaching and analysts are nervous. Here’s why https://www.cnbc.com/2022/03/17/earnings-season-is-rapidly-approaching-and-analysts-are-nervous-heres-why.html 

$MBII – Bioceres Crop Solutions to Merge With Marrone Bio Innovations in $236 Million All-Stock Deal

$GLG TD Holdings, Inc. Reports Fiscal Year 2021 Financial Results https://newsfilter.io/a/e1139cbf1deb98bfe625b5311b8d3212

$VIRI Form 4 – filed by Energy Focus, Inc/de https://newsfilter.io/a/6b6043fe77c25d8ff38595336b1cec74

$MNOV MediciNova Receives Notice of Allowance for New Patent Covering MN-001 and MN-002 for the Treatment of Advanced NASH in Korea https://newsfilter.io/a/c71552f503a88cebf8a03c3da26c53df

$PIK KIDPIK Teams Up with Disney to Celebrate the Release of Cheaper by the Dozen on Disney+ https://newsfilter.io/a/61e4a7c34052a89fd7d6c59551e99162

My top stocks for the day

$SONM was on watch for a MCB today but we saw a strong end of day run up and some action on post market. If we can break back above $1.25 we can see the next leg up to $1.48-$1.50

$HOUR is on HIGH WATCH today for the possible Mid Candle Breakout! We have $3.20 support at this time. We need to see a simple and strong break over $3.52. This is where I expect to see volume move in. We have room to $3.67, $3.75, $3.93, $4.00 then $5.00

$MULN – Over $2.00-$2.09 today and we can see $2.37 next. Light support is at $1.92

/CL is back up to $100/barrel. We need to be watching small cap oil stocks if oil does indeed break back over $100 and has a run up. Top small cap oil stocks to keep on watch $INDO $IMPP $CEI $HUSA


PRE MARKET GAPPERS


PRIOR DAY TOP GAINERS


Earnings this Week