May 2nd Watchlist
Jobless Claims came out at 8:30 AM and spiked the markets back up over SPY $159 while comments from the Mario Draghi pushed us right back down. We're looking at another choppy environment this morning folks with an overall lack of direction. Most sectors are in the green but that could all change if the SPY pushes back to $158.
Important earnings to pay attention to are Las Vegas Sands (NYSE: LVS), Facebook (NASDAQ: FB), and Visa (NYSE: V). All of those stocks reported solid earnings and are gapping higher in the premarkets so watch these names for possible day trades.
The best strategy to utilize during environments without much direction is a writing strategy where you capitalize on the non-movement and time decay. I will be focusing on that strategy in names like Apple (NASDAQ: AAPL)& Google (NASDAQ: GOOG) today.
If the bulls can hold us up here and continue to chew up all the supply from sellers then it is possible we push significantly through those all time highs without the pullback that everyone seems to be waiting for. For the newbie traders out there I would highly recommend not even trading!
GOOD MORNING YOUNG WORLD!
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