Good day, we represent a team of traders who contribute frequently on online forums and social media. We will have fortnightly reports detailing the global market outlook. This gives us an overview of various equity markets, with the US stock market being the main focus. In addition, being primarily swing traders, we will occasionally write up on stocks that are poised to move.
Our First Post
This week has been an exciting week for us down at the office as our earnings playbook was working overtime. More than half of our stock picks for this week have earnings that are due this week or the next. Let's do a recap on those that have already released earnings and how they fit into the overall trading strategy so far.
Recap
FB, CMG - Gapping up at the start of today's trading session on earnings beat is good for investors and the stock price certainly reflects this. Not chasing after these tickers in light of good fundamentals but saving our guns for those which breach our breakout level post earnings.
TRIP - An earnings miss in TRIP leading to a 9% gap down in this stock at the start of today's trading session despite having a well established short term base at 100 and pre-earnings move above our breakout level at 106. A clear example of why we don't jump into a trade solely because of technicals.
Upcoming plays
TWTR - This social media ticker has had an outstanding run in the first 2 months post IPO. With the momentum quickly dying off, the first half of this year saw Twitter quickly pulling back below IPO pricing before finding ground at 30. Volume has started to return to Twitter since May, and a short term base is now formed at 36 which is supported by the 50-day moving average. With earnings round the corner, we shall be looking to position ourselves in TWTR at breakout level 39.40-40