Hey hey everyone!
Hope everyone had a great weekend and is ready to get back to work for another week of trading! I didn't trade much at all last week since things were so volatile and I expect this week will be much the same. People were expecting/hoping for a resolution on the Greece situation this weekend but again the talks fell apart, with the Eurozone now asking that Greece make some concrete changes by next week if they want help. Basically it seems like the ECB, IMF and Germany do not trust Greece to actually make the changes they've promised to, nor do they expect the people of Greece to follow them, so they're asking them to sign new changes into law before any bailout can be done. Of course all this means for the rest of us is more uncertainty and more volatility. Likely the market gaps down tomorrow but anything can happen after that point. Also many traders are still on edge regarding China so we'll have to see if next week brings anything new with that situation. I did find a lot of nice charts mostly in the biotech sector but I suspect a lot of the setups will be busted by the gap tomorrow so I'm not putting too much time into making plans for them. I like HCA over $93.00 if it can develop a trend as it was very strong into the close on Friday. Any dips can be bought on it as long as the market is cooperating with us (which it may not). FOLD has a gorgeous daily and a big breakout over $14.65 which I will be watching as well as RTRX and DYAX which have similar looks. Something a bit more volatile that could ignore the market is FBIO so if all the others are busted by an ugly gap or a weak market I will see if FBIO can get some legs. On the short side EXEL and ANTH could get some morning buying pressure but then fade if the market is weak since neither's daily is very strong and both have pretty hefty resistance right above where they closed on Friday. Outside the bio/healthcare sector I found GPK for a possible red to green move through $14.50 though it's pretty extended on the 15 min chart so it needs to pull back and set up first...I'll be stalking that for a possible bounce off the 50ema around 10:30am. Lastly GPK has a nice daily breakdown area around $33.50 if the market is weak, so any morning pops could potentially be shorted in anticipation of that level breaking. All in all we're still in a very unpredictable market so we need to stay agile and be quick on taking profits as well as quick on the trigger when we see opportunities since they don't last long and even a tiny amount of hesitation can cost you big money right now.
That's all I have for today. Hope everyone has a great week!
Chris
Submitted July 12, 2015 at 07:39PM by ghostofgbt http://ift.tt/1JZSzSE
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