Choosing between multiple candidates is getting tougher as each day passes. I spent a couple hours today trying to find a play for the current market environment with triple digit market swings, a weekend ahead and earnings kicking of next week. I simply could not find a candidate that I really wanted to play. This is the way I get in trouble. I end up forcing a play just to have a play. I would rather get out of that habit and only make a recommendation when I have confidence it will succeed.
Today I am going to give you three potential plays. You can research them yourself and decide if you want to use them. This way you have some prescreened candidates rather than a specific play. These are not official recommendations and will not be followed in the newsletter. They could be official plays in the days ahead depending on the market and the stock.
INSY - Insys Therapeutics - They had a drug approved by the FDA on Tuesday and shares shot up to $15. They went sideways for two days but closed at a four week high today. Earnings August 4th.
FGEN - Fibrogen - Shares put in a double bottom on the 27th and have started rebounding. Today's close was a four week high. Earnings August 9th.
SPXC - SPX Corp - Shares peaked in April at $17.25 and have been declining slowly or two months. This is an engineering company and revenue and earnings are slowing. If it breaks below $14, it could fall to $12 or even $8 where it was in January. Earnings August 4th.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
No New Bearish Plays