May 21st Watchlist
Indexes are flat this morning and with the lack of economic data coming out today, we're most likely looking at yet another choppy trading session. FOMC minutes are scheduled to be released tomorrow so that may end up being the catalyst we need to get some volatility back in the equities markets.
Gold & Silver are gapping back down this morning after a wild session yesterday. The Precious Metals are a dangerous trade folks and if you do get in for a directional trade I would highly recommend starting with a light position.
The stock in play this morning is Home Depot (NYSE: HD), up about 3% in the premarket here. The company came out with strong earnings beating earnings per share estimates as well as revenue.
JP Morgan (NYSE: JPM) is spiking higher before the open after Jamie Dimon's role in the company is being scrutinized. The meeting is scheduled to start though in an hour so this may just be early comments or rumors that is causing the stock to move higher.
For most traders out there I would recommend lightening up your position sizes and working on being more selective with your trade ideas because this environment is starting to get difficult for directional traders.
GOOD MORNING YOUNG WORLD!
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