Stocks I'm watching tomorrow, 7/6/15 - FETA CHEESE EDITION

Hi everyone!

We're back from the long weekend and it's time to get back to work! Greece voted to decline the bailout package from the ECB so futures took a nasty hit tonight. Likely tomorrow we see a big gap down in SPY to the 203-205 range depending on how futures fair tonight and it remains to be seen what the ECB/IMF response is going to be to the Greeks' decision. That said I plan to play tomorrow the same way I did after Tsipras called for the referendum. I will have NBG and GREK on watch as well as VIX, XIV, UVXY and TVIX for volatility plays, and possibly some market-tracking ETFs like UPRO, SDS, SH, TZA, DOG, etc. The only individual stocks I see (besides NBG) that could possibly provide opportunities are CLNE and TCPI, both long. If the market gaps down and bounces there's a good chance CLNE rips, however if we get some tankage in the markets it will drag all longs down with it so it's best to just stick with the overall trend and play volatility or go with the flow on SPY somehow. I also could see CNC being a short continuation but again I am planning to most likely stay away from individual stocks. If the market develops a nice down trend like last time I will happily join a short trend on CNC or a long trend on VXX/UVXY/TVIX. All that said tomorrow should be relatively simple though we won't really have a plan until the morning. Stay agile and just try to trade reactively and quickly instead of trying to anticipate/predict what you think will happen. During volatility like this it is incredibly difficult to predict what might happen from one minute to the next because at any moment we can get news from Greece, the ECB, the IMF, the Fed etc and markets can react wildly. So just stay safe and take things as they come. Stick to your risk rules and don't let these moves get away from you ESPECIALLY on leveraged ETFs...they can destroy you in one day and go a lot further than you think so keep control of your sizes on stuff like TVIX and UVXY. Alright that's my plan for tomorrow!

Hope everyone had a great weekend and and awesome holiday!

Chris

Submitted July 05, 2015 at 07:59PM by ghostofgbt http://ift.tt/1Cf8ARy